机械设备行业双周报：土方机械内需同比持续增长，筑底向上趋势逐渐企稳
Dongguan Securities·2024-07-07 11:30

Investment Rating - The report maintains a standard rating for the machinery equipment industry [2] Core Insights - The domestic demand for earth-moving machinery continues to grow year-on-year, showing a stabilizing trend [2] - The machinery equipment sector has experienced a decline of 5.00% in the past two weeks, underperforming the CSI 300 index by 3.15 percentage points, ranking 27th among 31 sectors [7] - Year-to-date, the machinery equipment sector has decreased by 16.09%, matching the underperformance against the CSI 300 index [7] Summary by Sections Market Review - As of July 5, 2024, the machinery equipment sector has seen a two-week decline of 5.00%, with a year-to-date decline of 16.09% [7] - The sector's performance in June was a decline of 6.88%, underperforming the CSI 300 index by 3.57 percentage points [7] - Among the five sub-sectors, the rail transit equipment II sector had the highest increase of 2.05% [10] Valuation Situation - The current PE TTM for the machinery equipment sector is 22.49 times, with sub-sectors showing varying valuations: general equipment at 25.31 times, specialized equipment at 20.32 times, and automation equipment at 30.99 times [15] Data Updates - The report includes updates on excavator sales and growth rates, indicating a positive trend in domestic demand [20][21] Industry News - The establishment of the humanoid robot industry innovation center in Anhui aims to create a leading research base for humanoid robots [22] - The Ministry of Industry and Information Technology emphasizes the need for advanced equipment updates and digital transformation in the manufacturing sector [23] Company Announcements - Various companies in the sector have reported new contracts and patent acquisitions, indicating ongoing innovation and market activity [24] Weekly Perspective - The report suggests focusing on companies like Huichuan Technology and Sany Heavy Industry due to their strong market positions and expected demand recovery in the automation and engineering machinery sectors [25][26]