工业母机ETF（159667）涨超1%，聚焦“周期复苏+科技升级+海外拓展”主线

Core Viewpoint - The mechanical equipment industry is focusing on three main themes: "cyclical recovery, technological upgrade, and overseas expansion" [1] Group 1: Market Demand and Growth - In the engineering machinery sector, domestic market demand continues to recover, with excavator sales expected to grow by 18.1% year-on-year from Q1 to Q3 of 2025, and domestic sales increasing by 21.5% [1] - The demand for equipment is anticipated to be driven by increased infrastructure investment, with a projected compound annual growth rate of 30% for replacement demand over the next four years [1] Group 2: Policy and Investment - Enhanced policy support is expected to boost equipment demand, particularly with the commencement of major hydropower projects [1] - The nuclear fusion industry is entering a phase of capital expenditure expansion, with a focus on high-value components such as magnet systems, vacuum chambers, and power systems [1] Group 3: Technological Advancements - The internationalization, electrification, and intelligentization processes are advancing, with electric loader sales increasing by 157.2% year-on-year [1] - Intelligent applications such as unmanned forklifts and unmanned mining are expected to achieve breakthroughs [1] Group 4: Low-altitude Economy - The low-altitude economy policy emphasizes safety, health, and high-quality development, with a positive outlook on infrastructure construction and low-altitude equipment research and application [1] Group 5: ETF Overview - The Industrial Mother Machine ETF (159667) tracks the CSI Machine Tool Index (931866), which selects 50 listed companies involved in machine tool manufacturing and key component supply, covering various manufacturing sectors including machinery, electronics, new energy, and robotics [1]