先进制造行业周报：稳增长措施推动下或迎来估值修复，“AI+数字经济+信创”打开产业中长期成长空间

Investment Rating - The industry investment rating is "Overweight" [1] Core Viewpoints - The report highlights that growth stabilization measures may lead to valuation recovery, with "AI + digital economy + Xinchuang" opening up long-term growth opportunities for the industry [1][4] - The report emphasizes that the domestic capital market is experiencing a valuation recovery following a series of supportive measures from the government [4][9] - The computer industry is currently at a historically low valuation level, with a TTM PE of 45.06 times, which is in the 11.37% percentile of the past decade [4][6] Summary by Sections Investment Recommendations - Key recommended stocks include Beite Technology, Best, Micro Light, Mingzhi Electric, Lais Information, Nairadar, Wanjitech, Wanma Technology, Zuwai Co., and Mutong Power [3] - Core stock portfolio includes Beite Technology, Best, Micro Light, Mingzhi Electric, Wuzhou Xinchun, Lais Information, Nairadar, CITIC Haizhi, Zuwai Co., Jiutong Power, Hangjin Technology, Huawu Co., Huayang Group, Wanjitech, Wanma Technology, Green Harmonics, and Estun [3] Industry Focus - Photovoltaic Equipment: Upgrading of equipment and declining raw material prices are expected to stimulate downstream demand, with a focus on leading companies in battery and component equipment [3][11] - Battery Swapping: The market for battery swapping stations is projected to reach 135.755 billion yuan by 2025, with a focus on companies operating these stations [3][11] - Energy Storage: The sector is expected to benefit from favorable policies, with a focus on leading companies in batteries, inverters, and integration [3][11] - Semiconductor Equipment: Demand is expected to reach 140 billion USD by 2030, with a focus on platform companies and domestic alternatives [3][12] - Automation: The market for industrial consumables is projected to grow from 40 billion yuan to 55.7 billion yuan by 2026, with a focus on leading companies benefiting from increased concentration and import substitution [3][12] - Hydrogen Energy: The development of green hydrogen aligns with carbon neutrality goals, with a focus on leading companies in the integrated green hydrogen supply chain [3][12] - Engineering Machinery: Strong companies with product, scale, and cost advantages are recommended [3][12]