智通财经网·2025-11-12 03:36Core Viewpoint - The report from CITIC Securities indicates a structural prosperity in the mechanical industry despite relatively weak domestic demand, with a focus on new technologies and identifying beneficiaries from interest rate cuts and manufacturing capacity transfers [1][2]. Group 1: Focus on New Technologies - Emphasis on emerging industries with intensive technological changes and strong capital expenditures, such as humanoid robots, solid-state battery equipment, controllable nuclear fusion, and PCB equipment [1][3]. - The humanoid robot sector is expected to see significant advancements, with major companies like Tesla and Nvidia making substantial investments, marking 2026 as a pivotal year for mass production [3]. - The lithium battery equipment sector is showing signs of recovery after a two-year downturn, with improvements in revenue and profit, driven by new technologies [3]. Group 2: Seeking New Growth - The engineering machinery sector is recovering, with various categories showing growth, particularly in non-excavation machinery, supported by favorable export trends [4]. - The tools and hardware sector is expected to benefit from improved US-China relations and tariff reductions in the short term, with long-term gains anticipated from real estate demand following US interest rate cuts [4]. - The mining machinery sector is experiencing increased capital expenditures due to rising non-ferrous metal prices, with domestic companies expanding their overseas presence [4].