权益市场远期保持乐观，关注现金流ETF（159399）、矿业ETF（561330）

Group 1 - The core viewpoint of the article is an optimistic long-term outlook for the equity market, while emphasizing the need to focus on structural issues in the short term [1] - The optimism is driven by policies aimed at "expanding domestic demand," which include support for income-driven demand, reasonable investment returns, and financial demand constrained by principal and debt [1] - The current bottleneck in the A-share market is attributed to the K-shaped economic divergence, where high-performing sectors include AI, anti-involution, and export chains, while low-performing sectors are consumer real estate [1] Group 2 - The growth in high-performing sectors is facing uncertainties, particularly regarding the sustainability of capital expenditures by AI giants, which has amplified volatility in related sectors between US and A-shares [1] - There are concerns about the effectiveness of anti-involution measures, leading to downward adjustments in market expectations [1] - In the short term, the economic structure remains unchanged, but if risks emerge in sectors like AI, the market may shift back to a dividend-focused approach, such as cash flow ETFs [1] Group 3 - Given the crowded nature of single-track trading, the company suggests focusing on the diffusion effect of AI investments and allocating resources to more certain sectors [1] - Recommended sectors include those related to power infrastructure, such as mining ETFs, non-ferrous metal ETFs, and grid ETFs [1]