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Everbright Securities says leading Chinese fluorochemical firms are accelerating deployment of fluorinated new materials to build a second growth curve. In semiconductors, domestic high‑purity (G5) electronic‑grade hydrofluoric acid — long dominated by Japanese and US suppliers — has cleared certification at leading domestic and international wafer foundries and moved into volume production. Rapidly rising compute from AI, HPC and hyperscale data centers is increasing heat density, weakening air‑cooling effectiveness and boosting liquid‑cooling adoption, supporting demand for perfluoropolyether (PFPE) and other high‑performance fluorinated coolants. PFPE’s insulating, non‑flammable and superior thermal properties make it essential for immersion and other high‑safety, high‑power cooling applications. These trends are driving fluorochemical companies toward higher‑tech, higher‑margin product mixes.

Semiconductor and broader tech-sector volatility has picked up since July. Harvest Fund head of large-tech research Wang Guizhong told a company media briefing he remains positive on China tech assets and is optimistic about an accelerated domestic AI catch-up, saying AI-related tech currently shows no systemic risk and does not warrant a bearish conclusion. He favors optical communications tied to high-rate upgrades, parts of the chain seeing price recovery, and semiconductor equipment, citing AI-cluster interconnect demand, optical-module upgrades from 800G to 1.6T and trends such as co‑packaged optics (CPO) and non‑packaged optics (NPO) as durable demand drivers and higher-certainty growth within compute infrastructure.