（责任编辑：张晓波 ） 1月5日，A股迎来2026年首个交易日，A股主要指数高开高走，国证自由现金流指数震荡飘红，现 涨约0.4%，成分股烽火通信涨停，亚翔集成、盐湖股份、中国铝业等跟涨。相关ETF方面，同类规模 最大的自由现金流ETF（159201）近10个交易日净流入超4.5亿元，最新规模达85.96亿元，资金抢筹特 征显著。 中金公司策略团队则将2026年A股定义为"乘势笃行"：国际货币秩序重构逻辑进一步强化，AI革命 进入应用关键期，我国创新产业迎来业绩兑现，上述趋势将继续支持中国资产表现。与此同时，经历一 定估值修复后，2026年A股基本面重要性将继续提升，全球资金和国内居民资金动向也是不可忽视的因 素。 自由现金流ETF（159201）及其联接基金（A：023917；C：023918）紧密跟踪国证自由现金流指 数，经流动性、行业、ROE稳定性筛选后，选取自由现金流为正且占比高的股票，指数质地高，抗风险 能力强，适合底仓配置，满足长线投资配置需求。基金管理费年费率为0.15%，托管费年费率为 0.05%，均为市场最低费率水平，最大程度让利投资者。 每日经济新闻 【免责声明】本文仅代表作者本人观点，与 ...

12月30日午后，国证自由现金流指数震荡上行，现涨约0.5%，成分股南京新百涨停，中集集团、 云铝股份、鄂尔多斯、中国铝业等跟涨。相关ETF方面，同类规模最大的自由现金流ETF（159201）近 10个交易日合计"吸金"超3.75亿元，最新规模达82.99亿元，资金抢筹特征显著。 （责任编辑：董萍萍 ） 信达证券表示，当前内外部不确定性均缓和，催化跨年行情启动的积极因素正在增加：美股科技股 反弹、人民币升值、有色金属（金银铜）价格上行、商业航天等主题催化较多。当前政策、情绪和部分 行业的产业逻辑均较好，在机构资金的支撑下，有望把指数推升到年内高点附近，但后续进一步大幅突 破还是需要验证居民资金活跃度。不过考虑到每年1-3月是居民资金容易出现季节性脉冲的阶段，对本 轮跨年行情空间还是乐观的，建议投资者积极参与。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 自由现金流ETF（159201）及其联接基金（A ...

每日经济新闻 12月25日，三大股指开盘涨跌不一，沪指跌0.08％，深成指跌0.1％，创业板涨0.11％。国证自由现金流 指数小幅低开，现跌约0.25%，成分股南京新百、富瑞特装、飞亚达等领涨。相关ETF方面，同类规模 最大的自由现金流ETF（159201）近20个交易日合计"吸金"超9.1亿元，最新规模达82.82亿元，资金抢 筹特征显著。 自由现金流ETF（159201）及其联接基金（A：023917；C：023918）紧密跟踪国证自由现金流指数， 经流动性、行业、ROE稳定性筛选后，选取自由现金流为正且占比高的股票，指数质地高，抗风险能力 强，适合底仓配置，满足长线投资配置需求。基金管理费年费率为0.15%，托管费年费率为0.05%，均 为市场最低费率水平，最大程度让利投资者。 兴业证券首席策略分析师表示，目前三大有利条件支撑"躁动行情"前置开启：一是中央经济工作会议对 于2026年政策定调延续积极取向。二是数据有望继续验证国内基本面改善：宏观层面，岁末年初有望是 验证本轮PPI上行的重要窗口；微观层面，近期全A盈利预期仍在上修。三是国内宏观流动性充裕，降 准降息仍是政策可选项；微观层面，两融资金回流、 ...

Group 1 - The A-share market opened higher on December 24, with the Shanghai Composite Index rising by 0.01%, the Shenzhen Component Index by 0.07%, and the ChiNext Index by 0.07% [1] - The National Index of Free Cash Flow opened lower but fluctuated, currently down about 0.1%, with leading stocks including Silver Nonferrous, Yaxiang Integration, and Aishide [1] - The largest free cash flow ETF (159201) has attracted over 840 million yuan in the last 20 trading days, bringing its total size to 8.106 billion yuan, indicating significant capital inflow [1] Group 2 - According to Caitong Securities, there was a notable increase in buying volume as the index approached psychological integer levels, signaling positive market sentiment [1] - In the current context of limited macroeconomic risks, investors are encouraged to increase their positions and prepare for a "spring rally" [1] - The free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely track the National Index of Free Cash Flow, selecting stocks with positive and high free cash flow after liquidity, industry, and ROE stability screening, making it suitable for long-term investment [1]

Group 1 - The core viewpoint of the article highlights the positive performance of the Guozheng Free Cash Flow Index and the increasing interest in related ETFs, indicating a favorable market environment for companies with high free cash flow [1] - The Guozheng Free Cash Flow Index experienced a recovery after an initial decline, with constituent stocks like Huaren Health hitting the daily limit, and other stocks such as Yixin Tang, Fujian Gaoshu, and Wewei Co. also seeing gains [1] - The largest free cash flow ETF (159201) has attracted over 960 million yuan in net inflows over the past 20 trading days, reflecting strong investor interest [1] Group 2 - According to Song Zhiping, President of the China Listed Companies Association, recent policy measures aimed at "strengthening patient capital" have provided institutional support for guiding medium- and long-term funds into the market since the Central Political Bureau meeting in 2024 [1] - Since 2025, various types of medium- and long-term funds have net purchased over 600 billion yuan in A-shares, serving as a stabilizing force against market volatility and promoting value recovery [1] - The free cash flow ETF (159201) and its linked funds closely track the Guozheng Free Cash Flow Index, focusing on companies with high free cash flow rates, making it a quality investment choice with growth potential and policy certainty [1]

Group 1 - The A-share market showed mixed performance on December 12, with the National Index of Free Cash Flow rising approximately 0.2%, led by stocks such as Changbao Co., Jin Hong Group, Guodian Nanzi, and Yaxiang Integration [1] - The largest free cash flow ETF (159201) attracted significant capital, raising a total of 1.54 billion yuan over the past 20 trading days [1] - Citic Securities anticipates that the 2025 Central Economic Work Conference will emphasize the contradiction of "strong supply and weak demand," focusing on qualitative improvements and reasonable quantitative growth in the economy [1] Group 2 - The free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely track the National Index of Free Cash Flow, selecting stocks with positive and high free cash flow after liquidity, industry, and ROE stability screening [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] - Overall, it is expected that the economy will maintain stable growth by 2026, with policies continuing to support high-quality development [1]

12月11日早盘，国证自由现金流指数震荡上行，现涨约0.5%，成分股亚翔集成、捷佳伟创、模塑科 技、海陆重工等领涨。相关ETF方面，同类规模最大的自由现金流ETF（159201）近20日净流入16.48 亿元，资金抢筹特征显著。 自由现金流ETF（159201）及其联接基金（A：023917；C：023918）紧密跟踪国证自由现金流指数， 经流动性、行业、ROE稳定性筛选后，选取自由现金流为正且占比高的股票，指数质地高，抗风险能力 强，适合底仓配置，满足长线投资配置需求。基金管理费年费率为0.15%，托管费年费率为0.05%，均 为市场最低费率水平，最大程度让利投资者。 每日经济新闻 招商证券研报表示，近期出台的政策集中在资本市场与消费政策两个领域，建议重点关注促内需政策、 新兴产业政策与重大项目开展情况。从过往经验来看，12月末至次年一季度末是险资传统重要配置窗口 期，前期调整的红利板块有望重新获得关注，风格上更推荐大盘风格。 ...

（责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 11月28日，国证自由现金流指数触底反弹，现涨约0.45%，成分股秦安股份、常宝股份、太龙股份 等领涨。相关ETF方面，全市场规模最大的自由现金流ETF（159201）获资金抢筹，连续14个交易日净 流入，合计"吸金"18.75亿元。自由现金流ETF最新规模72.02亿元，再创成立以来新高。 中信证券表示，A股市场近期的调整恰好为投资者调仓布局提供了机会，A股长期上行趋势并未改 变。对A股而言，稳健回报导向的绝对收益资金持续入市，市场的内在稳定性不断增强。对需要增配权 益类资产的投资者而言，当下风险的提前释放给了重新增配中国资产、布局2026年的契机。 自由现金流ETF（159201）及其联接基金（A：023917；C：023918）紧密跟踪国证自由现金流指 数，经流动性、行业、ROE稳定性筛选后，选取自由现金流为正且占比高的股票，指 ...

Core Viewpoint - The Guozheng Free Cash Flow Index is experiencing low-level fluctuations, currently down approximately 1.2%, with component stocks such as Yaxiang Integration, Lianfa Shares, and Compass leading the gains [1] Group 1: Market Performance - The largest free cash flow ETF (159201) is adjusting alongside the index, presenting a low-position layout opportunity [1] - The free cash flow ETF has seen continuous net inflows over the past 7 days, with a peak single-day net inflow of 240 million yuan, totaling 1.063 billion yuan, reaching a new high of 6.656 billion yuan in total scale since its inception [1] Group 2: Analyst Insights - According to China Merchants Securities, the market is expected to continue in a volatile state due to two main reasons: the trading dimension has not improved, and the fundamental dimension presents mixed signals [1] - The perspective has shifted from favoring small-cap stocks to large-cap stocks, as while existing funds show a shift towards small-cap stocks, new funds are indicating a rare continuous contraction signal over the past six months [1] Group 3: Investment Strategy - Free cash flow serves as the foundation for dividend distribution, focusing more on a company's internal growth capability, while dividend strategies emphasize the results of dividend distribution [1] - Free cash flow strategies may act as a balancing tool for growth stock investments, with the free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely tracking the Guozheng Free Cash Flow Index [1] - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both representing the lowest fee levels in the market, maximizing benefits for investors [1]

Core Insights - The A-share market is experiencing a recovery, with the Guozheng Free Cash Flow Index showing a slight adjustment, down approximately 0.2%, while stocks like Taiji Industry, Hengdian East Magnetic, and Jiejia Weichuang are leading the gains [1] - Over 600 listed companies in the A-share market have distributed more than 300 billion yuan in cash dividends as of October 23, with an additional 300 billion yuan in dividends pending [1] - Increased dividend payouts by listed companies signify a critical shift in the capital market from a focus on financing to one on returns, enhancing the attractiveness of long-term capital [1] Free Cash Flow and Dividend Strategy - Free cash flow serves as a foundational indicator for dividend distribution, emphasizing a company's internal growth capacity, while dividend strategies focus on the outcome of dividend payments [2] - The Free Cash Flow ETF (159201) and its linked funds closely track the Guozheng Free Cash Flow Index, with management fees at 0.15% and custody fees at 0.05%, representing the lowest rates in the market [2] - Companies with high free cash flow and strong dividend intentions tend to outperform in stock price, suggesting that incorporating a dividend factor into free cash flow strategies can enhance performance [1][2]