东方证券：机械行业景气度拐点即将降临

Group 1 - The mechanical industry is approaching a turning point in its prosperity due to economic recovery and policy support [1][9] - In the past 2-3 years, China's machinery equipment has made significant progress in overseas markets, leading to improved corporate profitability [2] - Under policy support, leading equipment companies are achieving fruitful results [3] Group 2 - Companies are finding opportunities abroad, with prospects for further growth in international markets [4] - Domestic humanoid robot companies and Tesla are continuously launching product iterations, with expectations for small-scale production by 2025, creating new opportunities for the industry cycle [5] - Recommended companies to watch include Anhui Heli, Hangcha Group, and XCMG [6] Group 3 - The prosperity of the equipment sector is expected to fluctuate from the perspectives of domestic economy, external environment, and domestic policies [7] - Technological advancements are enhancing equipment capabilities, accelerating the growth of new productive forces [8] - Observing from a long-term perspective, China's machinery equipment industry possesses strong competitive advantages and will be an indispensable force in global economic development [10] Group 4 - The development of AI and new productive forces is expected to accelerate the implementation of humanoid robots and independently controllable new technologies in China [11] - Various factors, including economic, policy, and external environment, are interwoven, leading to a recovery in prosperity after a period of fluctuation [12]