Buy Halo and check out the free cash flow!

Why Is the Value of Physical Assets Reassessed as Digital Technology Costs Approach Zero?

In 2026, Wall Street introduced the concept of HALO assets, which are a category of enterprise assets characterized by heavy assets and low obsolescence rates. The logic behind HALO assets is that as the marginal cost of digital technology approaches zero, the scarcity of physical assets—such as resources, land, power grids, and key industrial capacities that AI cannot quickly disrupt—becomes more pronounced, leading to a reassessment of their strategic value. Once the button of geopolitical risk is pressed, heavy assets not only can resist AI risks but also serve as a ballast to ensure national strategic security and stabilize economic operations. Sectors like oil and petrochemicals, coal, non-ferrous metals, and basic chemicals have become one of the core directions for capital accumulation.

The CSI All Share Cash Flow Index (932365) completed its rebalancing on March 16, with a weighting of 39.64% in oil and petrochemicals, non-ferrous metals, steel, basic chemicals, and transportation, indicating that buying HALO means buying cash flow.

[Product Positioning] The CSI Cash Flow Index not only has a high proportion of HALO assets but also employs a value style incorporating high-quality factors, high ROE factors, and quarterly contrarian rebalancing to protect the downside. It selects individual stocks in the industry based on cash flow factors, focusing on physical enterprises with stable operating cash flow.

Related Products: Ping An CSI All Share Free Cash Flow ETF (159233.SZ), Ping An CSI All Share Free Cash Flow ETF Connector A (024887.OF), Ping An CSI All Share Free Cash Flow ETF Connector C (024888.OF)

Risk Warning: Funds carry risks, and investment requires prudence. The fund manager commits to managing and utilizing fund assets based on principles of honesty, creditworthiness, and diligence, but does not guarantee that this fund will achieve profits or guarantee minimum returns. The fund manager reminds investors of the principle of “buyer bears the risk” in fund investments. After making an investment decision, investors bear the investment risks caused by changes in fund operation status and fund net value. Past performance of the fund and its net value does not predict future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Investors purchasing the fund may share in the returns generated by the fund’s investments according to their held shares, but may also incur losses from the fund’s investments. Investors should carefully read the “Fund Contract,” “Prospectus,” and other legal documents related to the fund, fully understand the risk-return characteristics and product features of this fund, and judge whether the fund aligns with their risk tolerance based on their investment objectives, investment horizon, investment experience, and asset situation. Rationally assess the market and make investment decisions cautiously. The relevant information in this material is derived from publicly available data deemed reliable by the fund manager, and the opinions, assessments, and forecasts reflect current judgments, which may change in the future. Any market opinions contained in this material are based on corresponding assumptions, which may change at any time. The fund manager does not commit or guarantee that any predictive market opinions will be realized. The individual stocks mentioned in this material do not constitute investment recommendations or advice. The price fluctuations of ETF funds in the secondary market do not represent the actual rate of return of the fund; investors should pay attention to the risks associated with price volatility in the market.