现金流ETF（159399）昨日净流入超0.5亿，市场关注自由现金流长期价值

Core Viewpoint - The shift in economic operation models is leading to a long-term change in stock market pricing logic, focusing on cash flow accumulation in a low-interest-rate environment, which is seen as the cornerstone of a sustained bull market [1] Group 1: Economic Context - In the context of a stock economy, the ability to generate free cash flow is crucial, even in scenarios of zero profit growth, due to controlled capital expenditures, cost management, and efficient working capital [1] - The potential return of strong physical re-inflation could enhance the growth attributes of free cash flow [1] Group 2: Investment Opportunities - The market is currently focusing on leading consumer demand companies within three major sectors, which are expected to provide superior free cash flow value creation amid increasing concentration and optimized market structure [1] - The Cash Flow ETF (159399) tracks the FTSE China A-Share Free Cash Flow Focus Index (888888), which selects listed companies with stable free cash flow and high financial health from the A-share market [1] Group 3: Fund Options - Investors without stock accounts can consider the Guotai FTSE China A-Share Free Cash Flow Focus ETF Initiated Link A (023919) and Link C (023920) as alternative investment options [1]