SIASUN(SZ:300024) Ge Long Hui A P P·2025-11-11 07:25Core Viewpoint - The A-share market is experiencing fluctuations around the 4000-point mark, with a notable shift towards dividend assets due to their undervaluation advantage, leading to a "growth + dividend" structure in the market [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4002.76 points, with the technology sector showing significant corrections [1] - The Free Cash Flow ETF saw a slight decline of 0.49%, but recorded a substantial net subscription of 16.5 million units, with a total net inflow of 1.126 billion yuan over the past 20 days [1] - The largest Robot ETF has experienced five consecutive days of net inflow, totaling 1.158 billion yuan, with a cumulative net inflow of 2.286 billion yuan over the last 20 days [1] Group 2: Industry Trends - The free cash flow of A-share companies is steadily increasing, with operating cash flow showing positive year-on-year growth, indicating a confirmed upward trend in free cash flow [1] - The human-shaped robot sector has underperformed the market for two consecutive months, but significant industry developments are ongoing, such as Xiaopeng Motors' new humanoid robot IRON and Tesla's reaffirmation of its robot mass production timeline [1] - CITIC Securities anticipates that after consolidation, the robot sector will transition from thematic investment to mass production expectations in November [1] Group 3: Notable ETFs - The largest robot-themed ETF, Robot ETF (562500), has a weight in leading companies such as Huichuan Technology, Greentech Harmonic, and Stone Technology, with a decline of 0.91% [2] - The Free Cash Flow ETF (159201), with the lowest fee structure and a current scale of 5.88 billion yuan, includes major stocks like China National Offshore Oil Corporation, SAIC Motor, Shaanxi Coal and Chemical Industry, and Gree Electric Appliances, also declining by 0.49% [2]