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关注现金流ETF(159399)投资机会,市场聚焦自由现金流长期定价逻辑
Mei Ri Jing Ji Xin Wen·2025-07-31 10:13

Group 1 - The core viewpoint is that the long-term logic of stock market pricing will shift towards cash flow accumulation in a low-interest-rate environment, with stable free cash flow being the cornerstone of a prolonged bull market [1] - In a stagnant profit environment, assets capable of generating substantial free cash flow, such as controlled capital expenditures and efficient operating capital, can still maintain their value [1] - Consumer leaders are expected to provide stronger cash flow generation capabilities amid increasing industry concentration, while cyclical resource products may see cash flow recovery under anti-involution policies [1] Group 2 - 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 financial health from the A-share market [1] - 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) [1]