红利国企ETF（510720）收红，关注基本面预期改善驱动逻辑

Core Insights - The pricing drivers for dividend sectors are shifting from a focus on low valuations to improvements in fundamental expectations [1] - Consumer-oriented dividends, such as food and beverages, home appliances, and textiles, are expected to benefit from this trend [1] - The profitability recovery in the midstream manufacturing sector will take time, but the trend of overseas manufacturing investment remains unchanged [1] Group 1: Industry Trends - The continuous decline of PPIRM-PPI is expected to gradually restore profitability for midstream manufacturing companies, which will in turn improve the fundamentals of consumer-oriented dividend sectors [1] - The dividend state-owned enterprise ETF (510720) tracks the Shangguo Dividend Index (000151), which selects stocks with high cash dividend yields and stable dividends from the Shanghai market [1] - The index primarily focuses on traditional industries such as finance and energy, reflecting the overall performance of high-dividend stocks in the Shanghai market [1] Group 2: Investment Opportunities - Investors without stock accounts can consider the Guotai Shanghai Stock Exchange State-Owned Enterprise Dividend ETF Initiation Link A (021701) and Link C (021702) [1]