Unveiling the ChinaAMC STAR 50 ETF Portfolio: What Does This Nearly 400 Billion Baht Chinese Tech Fund Invest In?

Chinese technology stocks are regaining investor interest after CXMT (ChangXin Memory Technologies), China's largest DRAM memory chip manufacturer, began trading on the STAR Market on 27 Jul 2026.

Its stock price surged 472% above its IPO price, driving its market capitalization to about $489 billion, making it one of the most closely watched semiconductor IPOs of the year.

Due to its business scale and high market value, investors are watching whether CXMT will be included in major stock indices in the future, which if selected, could lead ETFs and index funds tracking those indices to gradually buy shares according to their weighting.

One such fund under discussion is the ChinaAMC STAR 50 ETF (588000), which tracks the SSE STAR Market 50 Index and is among the ETFs with the largest assets under management (AUM) in the STAR 50 index tracking group.

What is the ChinaAMC STAR 50 ETF?

ChinaAMC STAR 50 ETF This ETF is managed by China Asset Management (ChinaAMC), one of China's largest fund management companies. It aims to deliver returns closely aligned with the SSE STAR Market 50 Index, which comprises 50 leading technology and innovative companies listed on Shanghai's STAR Market.

A key feature of the STAR 50 Index is its focus on Hard Tech industries, which receive government support, such as semiconductors, chip manufacturing equipment, artificial intelligence (AI), software, and advanced technology — differing from typical Chinese stock indices that have higher proportions of internet and e-commerce stocks.

According to Investing.com, the ChinaAMC STAR 50 ETF (588000) currently manages about 69.4 billion yuan in assets, nearly 400 billion baht, with total net asset returns of

• +25.14% since the start of the year,
• +57.31% over the past year,
• +75.98% over the past three years.

Note: Returns as of 29 July 2026.

What stocks does the ChinaAMC STAR 50 ETF hold?

The latest data shows the fund primarily invests in semiconductor and advanced technology stocks, with the top 10 holdings accounting for about 62.21% of the portfolio, including:

• CAMBRICON (688256) at 9.30%, a Chinese AI chip maker specializing in AI processing and data center applications.
• MONTAGE TECHNOLOGY (688008) at 8.13%, a manufacturer of memory interface chips for servers and high-performance computing systems.
• AMEC (688012) at 8.00%, a producer of semiconductor fabrication equipment such as etching and coating machines.
• HYGON (688041) at 7.89%, a developer of CPUs and processing solutions for Chinese data centers.
• SMIC (688981) at 7.41%, China's largest chip foundry, producing chips for global technology companies.
• YUANJIE SEMICONDUCTOR TECHNOLOGY (688498) at 4.94%, a maker of optoelectronic chips for communication and networking systems.
• BIWIN STORAGE (688525) at 4.83%, a manufacturer of memory solutions and storage devices like SSDs.
• VERISILICON (688521) at 4.06%, a chip design company providing Silicon IP services for AI, IoT, and smart devices.
• PIOTECH (688072) at 4.03%, a manufacturer of semiconductor fab equipment, especially thin-film coating machines.
• HUA HONG GRACE (688347) at 3.62%, China's second-largest chip foundry after SMIC, focusing on automotive, energy, and electronics chips.

Note: Data as of 30 June 2026.

Most holdings relate to the semiconductor industry, spanning chip design, foundry manufacturing, fab equipment production, memory manufacturing, and chip design software, reflecting a comprehensive investment across China's tech industry supply chain.

If CXMT meets criteria and is added to the STAR 50 index in the future, it could become a top-weighted stock, potentially prompting index-tracking ETFs to increase their holdings during index rebalancing.

Source:ChinaAMC,Investing

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