Core Viewpoint - The recent performance of the stock market indicates a recovery in individual investors' risk appetite, driven by increased asset allocation towards equity assets and a favorable micro liquidity environment for the second half of the year [1] Group 1: Market Performance - On August 12, the three major stock indices opened higher but showed mixed results, with the Guozheng Free Cash Flow Index slightly rising, led by stocks such as Xinpeng Co., Chongqing Department Store, and Dayang Electric [1] - The largest free cash flow ETF (159201) followed the index's upward trend, indicating a good timing for investment [1] Group 2: Investor Sentiment - The recent margin trading balance has reached a ten-year high, reflecting a continuous rise in individual investors' risk appetite [1] - The influx of incremental funds from residents into the market is expected to be a significant driving factor for the current market rally [1] Group 3: Investment Strategy - The Free Cash Flow ETF (159201) closely tracks the Guozheng Free Cash Flow Index, selecting stocks with positive and high free cash flow after liquidity, industry, and ROE stability screening, indicating high quality and strong risk resistance suitable for long-term investment [1] - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are the lowest in the market, maximizing benefits for investors [1]