机械行业周报：政治局会议带动市场信心，机械指数取得较好表现

Investment Rating - The report does not provide a specific investment rating for the mechanical equipment industry, but it suggests a positive outlook based on recent market performance and government policy support [2][3][6]. Core Insights - The CJ Mechanical Equipment Index increased by 13.5% during the week of September 23-27, 2024, with the top-performing sectors being lithium battery equipment (22.7%), semiconductor and 3C equipment (16.2%), and environmental equipment (15.5%) [2][6]. - The median PE (TTM) for the mechanical sector reached 31x, with agricultural machinery having the highest valuation at 76x and engineering machinery the lowest at 16x. The sector's PE is at the 19.7% percentile based on historical data over the past 10 years [2][8]. - The Central Political Bureau's meeting on September 26 emphasized the need for increased counter-cyclical adjustments in fiscal and monetary policies, which is expected to enhance economic confidence and recovery [2][3]. Summary by Sections Market Performance - The mechanical equipment index's significant weekly increase of 13.5% is historically rare, ranking fifth since 2003. The average weekly increase during previous significant rises was 10.4%, with subsequent weeks showing an average increase of 1.3% [2][5][6]. Investment Recommendations - Suggested stocks for investment include: - Engineering Machinery: Zhonglian Heavy Industry (000157, Buy), Anhui Heli (600761, Buy) - Industrial Equipment: Yizhim (300415, Buy), Estun (002747, Buy) - Energy Equipment: Jerry (002353, Buy), Zhengzhou Coal Mining Machinery (601717, Buy) - Service & Consumption: Yongchuang Intelligent (603901, Buy) [3][6]. Valuation Levels - The mechanical sector's PE median is 31x, with the highest being agricultural machinery at 76x and the lowest being engineering machinery at 16x. The sector's valuation is at the 19.7% percentile historically [2][8].