一、证券市场回顾 南财金融终端数据显示，昨日（8月11日，下同）上证综指日内上涨0.34%，收于3647.55点，最高 3656.85点；深证成指日内上涨1.46%，收于11291.43点，最高11311.88点；创业板指日内上涨1.96%，收 于2379.82点，最高2384.86点。 二、融资融券情况 昨日沪深两市的融资融券余额为20196.87亿元，其中融资余额20056.9亿元，融券余额139.97亿元。两市 融资融券余额较前一交易日增加165.78亿元。分市场来看，沪市两融余额为10315.4亿元，相较前一交易 日增加88.81亿元；深市两融余额9881.47亿元，相较前一交易日增加76.97亿元。 三、基金发行情况 昨日有38只新基金发行，分别为：博时中证全指自由现金流ETF联接C、兴银MSCI中国A50互联互通指 数发起C、兴银MSCI中国A50互联互通指数发起A、博时中证全指自由现金流ETF联接A、博时中证全 指自由现金流ETF联接E、科综指增、工银臻选回报混合、万家沪深300指数A、万家沪深300指数C、南 方中证全指家用电器指数发起A、嘉实中证港股通创新药指数发起式C、嘉实中证港股通创新药 ...

Group 1 - The core viewpoint highlights the significance of stable free cash flow in the A-share market, driven by a low interest rate environment and a shift in market pricing logic towards cash flow accumulation [2] - The "anti-involution" policy is accelerating, focusing on industries with low capacity utilization and price competition, such as cyclical resources and manufacturing sectors [2] - The logistics industry, particularly the express delivery sector, is expected to experience a critical turning point in August-September, with improved pricing and profitability anticipated due to seasonal demand shifts and policy support [2] Group 2 - As of July 29, 2025, the overall cash flow ETF fund has shown a monthly profit percentage of 100.00% since its inception, with a monthly profit probability of 81.25% [3] - The fund's Sharpe ratio for the past month is reported at 1.41, indicating a favorable risk-adjusted return [4] - The fund has a maximum drawdown of 2.69% since inception, with a recovery period of 13 days [4] Group 3 - The fund's management fee is set at 0.50%, while the custody fee is 0.10% [5] - The fund closely tracks the CSI All Share Free Cash Flow Index, which includes 100 companies with high free cash flow rates, reflecting strong cash flow generation capabilities [6] - The top ten weighted stocks in the index account for 57.48% of the total, including major companies like China National Offshore Oil Corporation and Wuliangye [6]