券商晨会精华 | 8月国内工程机械“淡季不淡” 非挖品类内销景气度显著复苏

Group 1 - The market experienced fluctuations with all three major indices closing higher, led by chip concept stocks, with the Sci-Tech 50 Index rising over 4% at one point [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.12 trillion, a decrease of 202.3 billion compared to the previous trading day [1] - The Shanghai Composite Index rose by 0.22%, the Shenzhen Component Index increased by 0.67%, and the ChiNext Index gained 0.55% [1] Group 2 - CITIC Securities is optimistic about the robotics sector returning to the main line of technology growth, driven by the accelerated industrialization of Tesla's Optimus and high-valuation financing for Figure [2] - The release and production schedule of the third-generation Optimus prototype is positive, and domestic supplier exchanges are expected to begin soon [2] - The overall market liquidity is loose, making the robotics sector a favored investment direction, particularly Tesla's supply chain and other capable manufacturers [2] Group 3 - Everbright Securities reported that the domestic excavator sales in August 2025 showed resilience during the off-season, with significant recovery in non-excavator categories [3] - There is substantial policy support from the Two Sessions, ensuring sustained recovery in mid-term demand for construction machinery [3] - The export of excavators continued to grow in August 2025, indicating strong potential for the construction machinery sector overseas [3]