Cash Flow ETF (159399) recorded a net inflow of 70 million yuan in the previous trading day. Huachuang Securities pointed out that in a low-interest-rate environment, the compound interest effect of stable free cash flow has become the financial cornerstone of a long-term bull market in the A-share market. Changes in economic operating models have shifted stock market pricing logic toward back-end cash flow accumulation rather than front-end expansion. Assets with abundant free cash flow (e.g., companies with controlled capital expenditures and efficient operations) can still sustain value creation even in a zero-profit-growth predicament. If physical reflation returns, their growth potential becomes even more promising. The dividend value sector focuses on three key areas: leading domestic consumption companies (low valuation quantiles), cyclical resource products (policy-driven), and low-volatility dividend stocks (potential earnings recovery). The current period is a window for long-term capital to accumulate high-quality cash flow assets.

Cash Flow ETF (159399) tracks the FTSE China A Share Free Cash Flow Focus Index (888888), which selects listed securities with high free cash flow yields from the China A-share market as index components. It covers multiple industries, emphasizing financially stable companies with strong cash flows to reflect the overall performance of listed securities with robust cash flow generation capabilities in the Chinese market. The index adopts a value-investing style, rigorously screening constituents to provide investors with a reference for focusing on corporate cash flow quality.

Investors without stock accounts can consider Guotai FTSE China A Share Free Cash Flow Focus ETF Connect A (023919) and Guotai FTSE China A Share Free Cash Flow Focus ETF Connect C (023920).

Note: The Cash Flow ETF is solely developed by Guotai Asset Management Co., Ltd. This fund is not affiliated with, sponsored, endorsed, sold, or promoted by London Stock Exchange Group plc or its subsidiaries (collectively, "LSE Group"). FTSE Russell is a trademark of certain LSE Group companies. LSE Group assumes no liability for any use of this fund or underlying data.

Mentioned stocks are for reference only and do not constitute investment advice. Short-term performance and historical data of indices/funds are for analytical purposes only and do not indicate future performance. Market views may change with market conditions and do not constitute any investment advice or commitment. Indices mentioned are for reference only and do not constitute investment advice or guarantees of fund performance. When purchasing fund products, please choose those that match your risk tolerance. Funds carry risks; invest with caution.