现金流ETF（159399）盘中飘红，自由现金流改善推动企业内在价值提高

Group 1 - The core viewpoint of the article emphasizes that the improvement in free cash flow is driving an increase in the intrinsic value of companies, particularly in the context of low bond yields, which enhances the attractiveness of high-quality companies [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 characteristics, reflecting the overall performance of companies with long-term value growth potential [1] - The article highlights that sectors such as essential consumer goods (home appliances, household items, accessories, beauty care) and TMT (consumer electronics, communication equipment) are maintaining steady growth or marginal improvement, while industries like electricity and pharmaceuticals are also expected to show improved mid-year performance [1] Group 2 - The index covered by the cash flow ETF emphasizes a value investment style, focusing on the intrinsic quality and sustainable operational capabilities of companies [1]