Core Viewpoint - The low interest rate environment is creating a favorable condition for stable free cash flow, which is becoming the financial foundation for a long-term bull market in A-shares [1] Group 1: Economic Environment and Market Dynamics - The shift in economic operation models is driving a change in stock market pricing logic towards the accumulation of cash flow [1] - The potential return of strong physical re-inflation makes the growth attributes of free cash flow promising [1] Group 2: Investment Opportunities - Leading consumer companies are expected to benefit from increased concentration and possess stronger free cash flow generation capabilities than the industry average [1] - Cyclical resource products are likely to benefit from supply contraction and cash flow recovery due to anti-involution policies [1] - Free cash flow assets may become an important allocation direction in the second half of the market, supported by low interest rates and demand-stimulating policies [1] Group 3: Cash Flow ETF - The cash flow ETF (159399) tracks the FTSE China A-Share Free Cash Flow Focus Index (888888), which selects listed companies with high free cash flow yield across various industries [1] - The index aims to reflect the overall performance of listed companies in the Chinese market that have strong cash flow generation capabilities [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]
关注现金流ETF(159399)投资机会,自由现金流资产或成低利率环境下配置焦点
Mei Ri Jing Ji Xin Wen·2025-08-01 07:03