自由现金流更适应当下宏观环境！资金积极布局，现金流ETF（159399）盘中迎大额流入

Group 1 - The core viewpoint emphasizes the importance of free cash flow (FCF) as a key indicator of a company's financial health and its ability to distribute dividends to capital providers [1] - Free cash flow is defined as the maximum cash available for distribution to capital suppliers without affecting the company's ongoing operations, calculated as operating cash flow minus capital expenditures [1] - Companies with stable and sufficient free cash flow are expected to perform better in the current low-interest, loose monetary environment, leading to higher valuations compared to those with weaker free cash flow [1] Group 2 - The cash flow ETF (159399) has seen a net inflow of 65 million, indicating strong market interest in cash flow assets [1] - The FTSE Cash Flow Index has outperformed the CSI Dividend Index and the CSI 300 Index for nine consecutive years from 2016 to 2024, highlighting its strong market performance [2] - Investors are encouraged to consider cash flow ETFs, particularly those focusing on large and mid-cap companies with ample cash flow, as a potential investment theme for the year [2]