Group 1 - The automation equipment sector increased by 1.37% on January 27, with Kaidi Co. leading the gains [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] - Key stocks in the automation equipment sector showed significant price increases, with Kaidi Co. rising by 10.00% to a closing price of 131.42 [1] Group 2 - The sector experienced a net outflow of 9.53 billion yuan from institutional investors, while retail investors saw a net inflow of 9.97 billion yuan [2] - Major stocks like Dongjie Intelligent and Robotech also saw notable price increases, with Dongjie Intelligent up 9.90% and Robotech up 4.21% [1][2] - The trading volume for Kaidi Co. reached 1.22 million shares, contributing to a total transaction value of 1.54 billion yuan [1]

Core Viewpoint - The stock price of Jieput is experiencing a decline, with a notable drop in recent trading days, while the company shows significant revenue and profit growth year-on-year [1][2]. Group 1: Stock Performance - As of January 26, Jieput's stock price decreased by 2.01%, trading at 141.61 CNY per share, with a total market capitalization of 13.46 billion CNY [1]. - Year-to-date, Jieput's stock price has increased by 0.03%, but it has declined by 2.85% over the last five trading days, 0.48% over the last 20 days, and 16.11% over the last 60 days [2]. Group 2: Company Overview - Jieput, established on April 18, 2006, and listed on October 31, 2019, is located in Longhua District, Shenzhen, Guangdong Province. The company specializes in the research, development, production, and sales of lasers and intelligent equipment for precision testing and micro-processing related to integrated circuits and semiconductor optoelectronic devices [2]. - The main business revenue breakdown is as follows: lasers (53.32%), laser/optical intelligent equipment (38.19%), other main businesses (6.61%), optical fiber devices (1.81%), and others (0.07%) [2]. Group 3: Financial Performance - For the period from January to September 2025, Jieput achieved a revenue of 1.509 billion CNY, representing a year-on-year growth of 41.02%. The net profit attributable to the parent company was 204 million CNY, reflecting a year-on-year increase of 97.30% [2]. Group 4: Shareholder Information - As of September 30, 2025, Jieput had 7,160 shareholders, an increase of 8.35% from the previous period. The average number of circulating shares per shareholder decreased by 7.71% to 13,275 shares [2]. - The company has distributed a total of 157 million CNY in dividends since its A-share listing, with 96.44 million CNY distributed over the past three years [3].

国寿安保成长优选股票A（001521）成立日期2015年12月11日，最新规模5.55亿。今年以来收益 11.54%，同类排名479/5542；近一年收益51.9%，同类排名1077/4243；成立以来收益126.87%。 国寿安保成长优选股票A（001521）基金经理为祁善斌、撒伟旭。 截至发稿，祁善斌累计任职时间4年286天，现任基金资产总规模8.1亿元，任职期间最佳基金回报 62.28%， 任职期间最差基金回报-16.31%。 1月21日，杰普特涨5.17%，截至发稿，报142.92元/股，成交2.97亿元，换手率2.23%，总市值135.84亿 元。 资料显示，深圳市杰普特光电股份有限公司位于广东省深圳市龙华区观湖街道鹭湖社区观盛五路8-1号 科姆龙科技园A栋1201，成立日期2006年4月18日，上市日期2019年10月31日，公司主营业务涉及研 发、生产和销售激光器以及主要用于集成电路和半导体光电相关器件精密检测及微加工的智能装备。主 营业务收入构成为：激光器53.32%，激光/光学智能装备38.19%，其他主营业务6.61%，光纤器件 1.81%，其他(补充)0.07%。 从基金十大重仓股角度 ...

Market Overview - The automation equipment sector experienced a decline of 2.05% on January 20, with Hongxun Technology leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] Stock Performance - Notable gainers in the automation equipment sector included: - Zhili Fang (301312) with a closing price of 55.99, up 3.46% [1] - Shuangyuan Technology (688623) at 112.98, up 2.48% [1] - Tianzhun Technology (688003) at 67.22, up 1.60% [1] - Major decliners included: - Hongxun Technology (603015) at 14.71, down 9.20% [2] - Buke Co. (688160) at 148.99, down 6.87% [2] - Jieput (688025) at 135.89, down 6.77% [2] Capital Flow - The automation equipment sector saw a net outflow of 2.591 billion yuan from institutional investors, while retail investors had a net inflow of 1.757 billion yuan [2][3] - The top stocks by net inflow from institutional investors included: - Tianzhun Technology (688003) with a net inflow of 35.53 million yuan [3] - Tiaohui Co. (688529) with a net inflow of 35.04 million yuan [3] - Lvdihuanbo (688017) with a net inflow of 34.19 million yuan [3]

Group 1 - The A-share market saw a decline in CPO concept stocks, with Tian Tong Co. nearing the limit down, Cambridge Technology dropping over 5%, and several other companies experiencing declines of more than 3% [1] - Cambridge Technology recently released a performance forecast, expecting a net profit attributable to shareholders of 252 million to 278 million yuan for the fiscal year 2025, representing a year-on-year increase of 51.19% to 66.79% [1] - For the first three quarters of 2025, Cambridge Technology's net profit attributable to shareholders was 259 million yuan, indicating that the expected net profit for Q4 2025 is projected to be between -7 million to 19 million yuan, which is below analysts' consensus forecast of 139 million yuan [1] Group 2 - Tian Tong Co. experienced a decline of 9.67% with a total market value of 14.2 billion yuan and a year-to-date decline of 12.49% [2] - Cambridge Technology's stock fell by 5.32%, with a total market value of 39 billion yuan and a year-to-date decline of 17.70% [2] - New Yi Sheng's stock dropped by 4.25%, with a total market value of 383.7 billion yuan and a year-to-date decline of 10.41% [2]

Investment Rating - The report maintains a "Recommended" rating for the mechanical industry, with a focus on mining equipment, AI devices, and consumables [1]. Core Insights - The mechanical industry is expected to enter a new recovery cycle driven by monetary and fiscal policies, with significant capital expenditure anticipated in mining due to rising prices of non-ferrous metals [6][8]. - The AI sector is experiencing rapid growth, leading to increased demand for high-performance servers, GPUs, and advanced PCBs, which are critical for AI applications [6][20]. - The report highlights key companies in various segments, including industrial control, robotics, machine tools, and testing industries, suggesting a broad range of investment opportunities [6][8]. Summary by Sections Industry Overview - The mechanical industry comprises 636 listed companies with a total market capitalization of approximately 70,956.73 billion yuan and a circulating market value of about 58,998.75 billion yuan [3]. Company Profit Forecasts and Valuations - Several companies are highlighted with strong profit forecasts and investment ratings, including: - Huichuan Technology (300124.SZ): EPS forecasted at 2.11 yuan for 2025, with a strong buy rating [2]. - Falan Technology (603966.SH): EPS forecasted at 0.60 yuan for 2025, with a strong buy rating [2]. - Xinjie Electric (603416.SH): EPS forecasted at 1.83 yuan for 2025, with a strong buy rating [2]. - Other notable mentions include companies like Anhui Heli (600761.SH) and Sany Heavy Industry (600031.SH), both receiving strong buy ratings [2]. Market Performance - The mechanical sector has shown a positive performance with a 1.4% increase in the index, while the overall market performance varied across different indices [10][13]. - The 3C equipment segment experienced the highest growth at 14.4%, indicating strong demand in this area [11]. Investment Recommendations - The report suggests focusing on companies that are well-positioned to benefit from the AI wave, such as: - Dingtai High-Tech and Zhongtung High-Tech in the consumables sector [20][21]. - Dazhu CNC and Xinqi Micro-Assembly in the equipment sector [20]. - The report emphasizes the importance of high-end equipment and consumables in the PCB market, projecting significant growth in this area [20][21]. Key Data Tracking - The report includes macroeconomic indicators and industry-specific data, such as the manufacturing PMI and fixed asset investment growth rates, which are crucial for understanding the industry's health [32][36].

Core Insights - The Chinese laser and optoelectronics industry is experiencing significant personnel changes at the beginning of 2026, with multiple companies announcing important adjustments in their management teams [1][3] Group 1: Company Announcements - Five listed companies, including Dazhu Laser, Huaray Laser, Lianying Laser, Jieput, and Lianchuang Optoelectronics, have reported changes such as resignations of independent directors and appointments of new executives [1][3] - Dazhu Laser's independent director Wang Tianguang resigned for personal reasons, leading to a need for a supplementary election to maintain compliance with regulations [4][6] - Huaray Laser completed a management transition, appointing He Lidong as chairman and general manager, ensuring strategic continuity and emphasizing technical talent [7][9] - Lianying Laser's vice president Yin Dong resigned but will remain with the company in another capacity, indicating an internal restructuring rather than a complete departure [10][12] - Jieput appointed Liu Meng, a technical expert, as vice president, reflecting a strategic focus on enhancing product development and competitiveness in the high-power laser market [13][15] - Lianchuang Optoelectronics appointed Gu Hongwu as a non-independent director, transitioning from a supervisory role to a decision-making position within the board [16][18] Group 2: Strategic Implications - The personnel changes across these companies highlight a focus on strategic succession and the importance of technical expertise in the laser industry, particularly in the context of AI integration and high-end transformation [3] - The new management teams are characterized by stability and a strong technical background, which is crucial for driving innovation and maintaining competitive advantages in the rapidly evolving market [9][15] - The adjustments in leadership roles are seen as efforts to optimize governance structures and enhance strategic decision-making capabilities within the companies [18]

Group 1 - The 3D printing sector is experiencing a strong rebound, with companies like Jin Chengzi and Inno Laser seeing stock increases of over 10% [1] - Other companies in the 3D printing industry, such as Nanfeng Co., Huazhong CNC, Hongrid, and Jieput, have also reported stock gains exceeding 5% [1]

Group 1 - The CPO concept in the A-share market has seen significant gains, with multiple companies experiencing notable stock price increases [1] - Notable performers include LianTe Technology, which rose by 10.30%, and KeChuan Technology, which increased by 10.01% [2] - Other companies such as ChangDian Technology and RoboTech also saw substantial gains, with increases of 10% and 9.66% respectively [2] Group 2 - The total market capitalization of LianTe Technology is 28.2 billion, while KeChuan Technology has a market cap of 9.521 billion [2] - Year-to-date performance shows that KeChuan Technology has increased by 60.60%, indicating strong growth potential [2] - Companies like ChangDian Technology and RoboTech have year-to-date increases of 31.57% and 36.39% respectively, reflecting positive market sentiment [2]

Investment Rating - The report recommends a positive investment outlook for the machinery equipment industry, particularly focusing on companies with high export potential and strong growth prospects in overseas markets [3][10]. Core Insights - The report identifies three major opportunities for machinery equipment exports: the Belt and Road Initiative driving demand in resource-rich countries, strong demand recovery in Europe and the US, and the shift from capacity export to technology export in high-end manufacturing [3][4][5]. - Key companies recommended for investment include SANY Heavy Industry, Zoomlion, LiuGong, and Hengli Hydraulic in the engineering machinery sector, and Jerry Holdings and Neway in the oil service sector [3][4][5][67]. Summary by Sections Belt and Road Initiative - Investment in oil, gas, and mineral resources in resource-rich countries is accelerating, driving demand for domestic equipment and expanding global market share [3]. - The engineering machinery sector is expected to benefit from rising prices of non-ferrous metals and increased capital expenditure by mining companies, leading to higher demand for high-margin excavators [3][10]. European and American Demand - The report highlights a recovery in overseas production capacity and macroeconomic recovery, focusing on high-quality targets with significant exposure to European and American markets [4]. - Key recommendations include leading Chinese hand tool exporter Juxing Technology and companies in the industrial forklift sector such as Hangcha Group and Anhui Heli [4]. High-End Manufacturing Export - The shift from capacity export to technology export is emphasized, with Chinese equipment manufacturers leveraging their advantages to enhance export ceilings [5]. - Companies involved in the production of optical module equipment, lithium battery equipment, and photovoltaic equipment are highlighted as key players, with specific recommendations for firms like Meiwai and Aotewi [5]. Engineering Machinery Export - The report anticipates a new upward cycle for overseas engineering machinery demand starting in 2025, driven by recovery in global demand and increased capital expenditure in mining and infrastructure [10][11]. - Key companies with established overseas operations and competitive advantages in mining and large infrastructure projects are expected to benefit significantly [10][11]. Oil Service Market - The Middle East is identified as a core market for oil service companies, with high certainty for growth due to stable capital expenditure and strong demand [67][69]. - Recommended companies include Jerry Holdings, which has a comprehensive international certification system and strong project execution capabilities, and Neway, which has a significant presence in the aftermarket service sector [67][69].