市场回归“业绩基本面”，“牛市”根基依旧牢固，自由现金流ETF（159201）份额规模创新高

Group 1 - The core viewpoint of the news highlights the performance of the Free Cash Flow ETF (159201), which has seen a 0.08% increase in early trading on January 20, with leading stocks like Nanshan Aluminum, Satellite Chemical, and Fostda rising over 5% [1] - The Free Cash Flow ETF (159201) has experienced net inflows in 8 out of the last 10 trading days, totaling over 628 million yuan, indicating strong investor interest [1] - The latest share count of the Free Cash Flow ETF reached 7.75 billion, with a total scale of 9.834 billion yuan, both marking new highs since its inception [1] Group 2 - The Free Cash Flow ETF (159201) and its linked funds closely track the National Index of Free Cash Flow, selecting stocks with positive and high cash flow after liquidity, industry, and ROE stability screening, making it suitable for long-term investment [2] - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are among the lowest in the market, maximizing benefits for investors [2] Group 3 - Institutions believe that the expectation of a "slow bull" market is rising, focusing on performance fundamentals, with recent market acceleration and thematic speculation leading to some sectors and stocks becoming "locally overheated" [1] - Regulatory authorities have begun to strengthen counter-cyclical adjustments in the market, signaling a push for rational and stable market operations [1] - In the medium to long term, the A-share market is expected to maintain strong upward momentum due to factors such as increased household savings entering the market, improved performance from "anti-involution," and a new wave of technological industrial revolution [1]