12月非挖产品整体保持增长

Group 1: Equipment Manufacturing Industry - The excavator market continues to grow, while the automotive crane market also shows a positive growth trend, with domestic sales of 886 units in December 2025, a year-on-year increase of 39.1%, and exports of 1,025 units, a year-on-year increase of 37.2% [1][3] - The automotive crane has achieved six consecutive months of year-on-year positive growth, driven by factors such as policy support, equipment upgrades, new energy infrastructure, and export demand [1][3] - Other non-excavator products, excluding tower cranes affected by the real estate market, also maintain a growth trend, suggesting continued investment opportunities in the engineering machinery sector [3] Group 2: Solar Industry - The cancellation of export tax rebates is forcing the industry to clear out excess capacity, leading to a surge in component prices as companies accelerate overseas shipments to avoid rising costs [4] - Component manufacturers are entering a "grab export" mode, with distributors and project parties hoarding low-priced orders, resulting in a rapid transfer of inventory from factories to overseas and distribution channels [4] - The solar industry is currently in a phase of "cost-push price increases" versus "weak terminal demand," and future recovery will depend on the penetration of efficient battery technologies and the resilience of overseas demand [4] Group 3: Automotive Industry - In the first week of January 2026, the retail market for passenger vehicles saw significant declines both year-on-year and month-on-month, with daily wholesale figures dropping to 35,000 units, a 40% decrease compared to January of the previous year and a 30% decrease from the previous month [5] - The weak performance in the automotive market is influenced by holiday factors, reduced purchase tax incentives, and changes in subsidy methods, which may impact short-term sales [5] - Long-term prospects for the new energy vehicle market remain positive, with significant potential for penetration and increased consumption driven by advancements in automotive intelligence [5]