现金流ETF（159399）连续4日净流入超2亿元，自由现金流改善趋势获市场关注

Group 1 - The core viewpoint of the article highlights that the overall profit growth of listed companies remains stable, with a significant increase in operating cash flow and a continued decline in capital expenditure, leading to an increase in free cash flow [1] - The FCF yield (TTM) of non-financial construction in the CSI 300 has risen to 4.5%, up from 4.1% at the beginning of the year, indicating a substantial increase in free cash flow yield [1] - The proportion of free cash flow of the entire A-share non-financial sector relative to total market value has steadily increased to 2.5%, and the proportion relative to total revenue has risen to 3.1% [1] Group 2 - In specific sectors, there is a notable improvement in free cash flow ratios in mid-to-high-end manufacturing, sectors benefiting from capacity clearance due to "anti-involution," and certain discretionary consumption industries [1] - Investors are encouraged to pay attention to cash flow ETFs (159399), which have outperformed the CSI Dividend Index and the CSI 300 Index for nine consecutive years from 2016 to 2024 [1] - For investors without stock accounts, they can consider the Guotai FTSE China A-Share Free Cash Flow Focused ETF Initiated Link A (023919) and Link C (023920) [1]