关注现金流ETF（159399）投资机会，市场聚焦科技+出海盈利主线

Group 1 - The core viewpoint is that A-share overall profit growth is expected to increase from 6% year-on-year this year to 8% year-on-year by 2026, driven by accelerated nominal GDP growth, narrowing PPI contraction, supportive policies, and ongoing anti-involution actions that boost profit margins [1] - The anti-involution policies are anticipated to enhance capacity utilization, alleviate price competition, and promote profit recovery in overly competitive industries such as photovoltaics, batteries, chemicals, and cement [1] - The market is increasingly focused on profitability and shareholder returns rather than short-term earnings elasticity, indicating a qualitative leap in profit momentum [1] Group 2 - Investors are encouraged to pay attention to the cash flow ETF (159399), which has outperformed the CSI Dividend Index and the CSI 300 Index for nine consecutive years from 2016 to 2024 [1] - The underlying index of the cash flow ETF focuses on large and mid-cap stocks, with a higher proportion of central state-owned enterprises compared to similar cash flow indices, allowing for monthly dividend assessments [1]