全市场唯一煤炭ETF（515220）连续5日净流入近6亿元！规模破80亿元！“反内卷”下煤炭供给收缩预期强化

Group 1 - The core viewpoint is that the "anti-involution" policy is expected to lead to continued industry self-discipline and drive a contraction in coal supply [1] - The recommendation is to focus less on short-term earnings reports and more on assessing the implementation of the "anti-involution" policy, particularly its impact on liquidity and risk appetite, which could enhance valuation certainty [1] - The coal ETF (515220), which tracks the CSI Coal Index (399998), has a dividend yield exceeding 5% as of August 12, indicating strong allocation value in a declining risk-free interest rate environment [1] Group 2 - Investors are encouraged to consider gradually accumulating positions in the coal ETF (515220) and its linked funds (Link A: 008279; Link C: 008280; Link E: 022501) to capitalize on investment opportunities in the coal sector [1] - For investors without stock accounts, attention is drawn to the Guotai CSI Coal ETF Link C (008280) and Link A (008279) [1]