Group 1 - The core point of the news is that the China Securities Dividend ETF (515080) announced its fourth dividend distribution for the year, amounting to 0.2 yuan per ten shares, with a dividend ratio of 1.26% [1] - This marks the 15th dividend distribution since the ETF's inception, with a total cumulative dividend of 3.85 yuan per ten shares [1] - The cumulative dividend ratio for the ETF in 2025, including this distribution, is 4.21% [1] Group 2 - As of December 12, the ETF has seen a net subscription of 342 million yuan over the past five days, and a total net inflow of 871 million yuan over the past 20 days [3] - The market outlook suggests that there may be a moderate improvement in micro liquidity, with a recommendation to focus on financial and dividend sectors as a base for long-term investments [3] - The suggestion is to remain cautious of external disturbances while positioning for potential opportunities as new capital flows in [3]