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]

Group 1 - Dazhong Laser's stock price increased by 5.12% to 53.59 CNY per share, with a trading volume of 1.799 billion CNY and a turnover rate of 3.60%, resulting in a total market capitalization of 55.176 billion CNY [1] - Dazhong Laser Technology Industry Group Co., Ltd. was established on March 4, 1999, and listed on June 25, 2004, primarily engaged in the research, manufacturing, and sales of laser processing equipment [1] - The company's main business revenue composition includes 68.71% from other intelligent manufacturing equipment and 31.29% from PCB intelligent manufacturing equipment [1] Group 2 - Zhongyou Fund has a significant holding in Dazhong Laser, with its fund "Zhongyou Innovation Advantage Flexible Allocation Mixed" (001275) holding 68,000 shares, unchanged from the previous period, accounting for 2.74% of the fund's net value [2] - The fund has a total scale of 102 million CNY, with a year-to-date return of 3.56%, ranking 5586 out of 8861 in its category, and an annual return of 18.87%, ranking 5474 out of 8126 [2] - The fund manager, Liang Xuedan, has a tenure of 7 years and 183 days, with a best fund return of 23.47% during this period, while the co-manager, Li Muxi, has a tenure of 2 years and 263 days, with a best fund return of 23.31% [2]

大族激光（002008.SZ）1月26日在投资者互动平台表示，大族数控正在进行申请发行H股并在香港联交 所主板挂牌上市，拟发行的H股股数不超过本次发行后总股本的15%（超额配售权行使前），并授予整 体协调人不超过前述发行的H股股数15%的超额配售权。最终发行规模由股东会授权董事会及其授权人 士根据法律规定、境内外监管机构批准或备案及市场情况确定，具体情况请关注大族数控相关公告。 每经AI快讯，有投资者在投资者互动平台提问：公司持有大族数控83.63%的股权，持有比例较大，导 致大族数控实际流通股过少，公司是否考虑逐步减持一部分股权，让更多投资者能分享大族数控的成长 成果？ （记者 王瀚黎） ...

（文章来源：证券日报） 证券日报网讯 1月22日，大族激光在互动平台回答投资者提问时表示，当前市值结构是市场阶段性定价 的动态结果，短期市值差异不代表公司价值被低估，随着其他业务持续成长以及市场对公司整体价值认 知的深化，公司的市值终将充分地反映其持有的各项资产的内在价值。未来公司将持续聚焦主业发展， 同时推动两家公司协同增效，充分释放整体价值，为股东创造长期稳定的回报。 ...

Core Viewpoint - The lithography machine sector experienced a decline of 0.79%, with significant losses in companies such as Meike Technology, Chipone Microelectronics, and Kema Technology, while some companies like Tengjing Technology, Su Da Weige, and Dazhu Laser saw gains of 20.00%, 3.54%, and 3.48% respectively [1][2]. Group 1: Market Performance - The lithography machine concept ranked among the top decliners in the market, with a drop of 0.79% [1][2]. - The sector saw a net outflow of 1.017 billion yuan, with 36 stocks experiencing net outflows, and 7 stocks exceeding 100 million yuan in outflows [2]. - Zhangjiang Hi-Tech led the outflows with a net outflow of 261 million yuan, followed by Xinlai Materials and Jingfang Technology with outflows of 235 million yuan and 207 million yuan respectively [2]. Group 2: Individual Stock Performance - Tengjing Technology led the gainers in the lithography machine sector with a rise of 20.00%, followed by Su Da Weige and Dazhu Laser with increases of 3.54% and 3.48% respectively [1][5]. - The top decliners included Kema Technology with a drop of 5.31%, Chipone Microelectronics down 5.45%, and Meike Technology down 7.16% [3][4]. - The trading volume for Zhangjiang Hi-Tech was 2.53%, while Kema Technology had a turnover rate of 8.20% [3][4].

证券之星消息，1月22日自动化设备板块较上一交易日下跌0.21%，科瑞技术领跌。当日上证指数报收于 4122.58，上涨0.14%。深证成指报收于14327.05，上涨0.5%。自动化设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688003 | 天准科技 | 70.88 | 7.90% | 14.77万 | | 10.05亿 | | 920396 | 常辅股份 | 36.72 | 5.31% | 5.61万 | | 2.05亿 | | 300461 | 田中精机 | 23.46 | 4.08% | 9.67万 | | 2.23亿 | | 688559 | 海日奥 | 62.90 | 4.05% | 13.19万 | | 8.28亿 | | 920885 | 星辰科技 | 24.51 | 3.94% | 7.28万 | | 1.77亿 | | 002008 | 大族激光 | 51.45 | 3.48% | 57.79万 | | 29.63亿 | | 3 ...

Summary of China Industrials 2026 Outlook Industry Overview - **Industry**: China Industrials - **Core Themes**: AI technology diffusion, industrial upgrades, and globalization are central to the industrial sector's recovery in 2026. The government is focused on enhancing productivity through equipment upgrades, particularly in high-end equipment [1][4]. Key Insights - **Industrial Cycle**: The industrial cycle is characterized by strong global demand for capital goods, driven by AI technology applications and supply chain security concerns. China's trend of localizing high-end equipment remains strong, with specific sectors like data centers, electronics, and robotics expected to show growth, while processing markets may experience muted demand [3][10]. - **AI Applications**: 2026 is anticipated to mark the beginning of significant capital expenditure on physical AI, which will benefit automation and robotics companies. The government is supporting this through initiatives aimed at increasing the deployment of AI-powered robotics [4][11][12]. - **Localization and Supply Chain**: The localization rates for automation and industrial robots are projected to rise, with expectations of reaching 60-70% by 2030. This trend is expected to benefit companies involved in automation and precision components [21][22][23]. Market Dynamics - **Overseas Expansion**: Equipment exports from China have grown significantly, outpacing overall export growth. Companies are motivated to expand into international markets to capture larger total addressable markets (TAM) and improve margins [24][25]. - **Margin Expansion**: The overall net margin for China's industrials is expected to increase from approximately 13.0% in 2025 to around 14.6% in 2027, driven by overseas growth and advancements in AI technology [26][27]. Stock Recommendations - **Preferred Stocks**: The report highlights several stocks that are expected to benefit from cyclical strength and structural tailwinds, including: - **Geekplus (2590.HK)**: OW - **Sany Heavy (600031.SS)**: OW - **Leaderdrive (688017.SS)**: OW - **Han's Laser (002008.SZ)**: OW - **Inovance (300124.SZ)**: OW - **Hengli (601100.SS)**: OW - **Wuxi Lead (300450.SZ)**: OW - **Envicool (002837.SZ)**: OW - **Underweight Stocks**: Stocks such as **CSCEC (601668.SS)**, **CRRC-H (1766.HK)**, and **Maxwell (300751.SZ)** are rated as underweight due to various market challenges [5][8][46]. Additional Considerations - **Geopolitical Factors**: The geopolitical landscape is influencing supply chain security, which is a critical factor for capital goods demand globally [3]. - **Investment in AI**: The anticipated investment in AI infrastructure is expected to redefine smart manufacturing and create new opportunities within the industrial sector [10][11]. - **Sector Performance**: The report indicates that most industrial stocks are trading at or above their historical five-year average P/E ratios, reflecting a positive outlook for continuous upgrades and AI-related demand [26][38]. This comprehensive analysis provides insights into the expected recovery and growth opportunities within the China Industrials sector for 2026, highlighting key themes, market dynamics, and stock recommendations.

Group 1 - The lithography machine concept sector rose by 2.76%, ranking 10th among concept sectors, with 39 stocks increasing in value, including Baidao Chemical and Woge Optoelectronics hitting the daily limit [1] - Notable gainers in the sector included ChipMOS Technologies, which increased by 16.26%, followed by Maolai Optics at 8.69% and Wavelength Optoelectronics at 8.10% [1] - The stocks with the largest declines were Jiangfeng Electronics, Su Da Weige, and Kema Technology, which fell by 3.02%, 1.32%, and 0.94% respectively [1] Group 2 - The lithography machine concept sector saw a net inflow of 1.075 billion yuan, with 31 stocks receiving net inflows, and 7 stocks exceeding 100 million yuan in net inflow [2] - Baidao Chemical led the net inflow with 232 million yuan, followed by Jingfang Technology, Saiwei Electronics, and Dazhu Laser with net inflows of 171 million yuan, 153 million yuan, and 144 million yuan respectively [2] - The top net inflow ratios were recorded by Woge Optoelectronics at 19.57%, Baidao Chemical at 16.33%, and Juguang Technology at 9.33% [3] Group 3 - The trading performance of Baidao Chemical showed a daily increase of 10.01% with a turnover rate of 5.45% and a net inflow of 232.45 million yuan [3] - Jingfang Technology increased by 4.03% with a turnover rate of 11.80% and a net inflow of 171.48 million yuan [3] - Other notable performers included Saiwei Electronics with a 2.46% increase and a net inflow of 152.86 million yuan, and Dazhu Laser with a 6.72% increase and a net inflow of 144.47 million yuan [3][4]

Group 1 - The automation equipment sector increased by 2.87% on January 21, with Robotech leading the gains [1] - The Shanghai Composite Index closed at 4116.94, up 0.08%, while the Shenzhen Component Index closed at 14255.12, up 0.7% [1] - Notable stocks in the automation equipment sector included Robotech, which rose by 14.73% to a closing price of 335.00, and Inno Laser, which increased by 10.19% to 61.66 [1] Group 2 - The automation equipment sector saw a net inflow of 607 million yuan from institutional investors, while retail investors contributed a net inflow of 242 million yuan [2] - Major stocks with significant net inflows included Zhongkong Technology with 248 million yuan and Huagong Technology with 164 million yuan [3] - Conversely, retail investors showed net outflows in several stocks, including Dazhu Laser and Saiteng Co., with outflows of 124 million yuan and 124 million yuan respectively [3]

Group 1 - The core viewpoint of the news is that Dazhu Laser's stock has seen a significant increase, with a rise of 5.02% to 48.93 CNY per share, and a total market capitalization of 50.378 billion CNY [1] - Dazhu Laser Technology Industry Group Co., Ltd. is based in Nanshan District, Shenzhen, Guangdong Province, and was established on March 4, 1999, with its listing date on June 25, 2004 [1] - The company's main business involves the research, development, manufacturing, and sales of laser processing equipment, with revenue composition being 68.71% from other intelligent manufacturing equipment and 31.29% from PCB intelligent manufacturing equipment [1] Group 2 - From the perspective of fund holdings, one fund under GF Fund has a significant position in Dazhu Laser, specifically the GF Multi-Emerging Stocks Fund (003745), which held 1.3919 million shares, accounting for 2.47% of the fund's net value, ranking as the tenth largest holding [2] - The GF Multi-Emerging Stocks Fund (003745) was established on April 24, 2017, with a latest scale of 2.29 billion CNY, and has achieved a return of 10% this year, ranking 771 out of 5542 in its category [2] - The fund has a one-year return of 45.88%, ranking 1464 out of 4243, and a cumulative return since inception of 115.59% [2]