机械工业行业周报：中共中央政治会议指出加力推出增量政策，通用设备、基建地产等值得关注

Investment Rating - The report maintains an "Outperform" rating for the mechanical industry [1]. Core Insights - The mechanical equipment industry has shown positive relative performance against the Shanghai Composite Index, with a weekly excess return of +0.72 percentage points for the 39th week of 2024 [9]. - The report highlights significant growth in various sub-sectors, including a projected 12% year-on-year increase in excavator sales for September 2024, with domestic sales expected to grow nearly 17% [6]. - The report emphasizes the importance of macroeconomic policies and the resilience of the Chinese economy, which remains favorable for the mechanical industry [1]. Summary by Relevant Sections Market Performance - The mechanical equipment industry ranked 14th among all sectors in terms of weekly excess returns, with a year-to-date excess return of -14.17% [9]. - The report notes that the mechanical equipment sector has outperformed the Shanghai Composite Index in the current year [9]. Sub-sector Highlights - In the lithium battery equipment sector, a new investment project worth nearly 1 billion RMB has been signed in Jiangxi, and Dongfeng Group is set to mass-produce solid-state batteries with a target energy density of 350 Wh/kg [2]. - The robotics sector is seeing advancements with Tencent's new robot "Xiao Wu" and collaborations among companies like Keda Li and Suzhou Weichuang to enhance humanoid robot capabilities [2]. - The shipbuilding industry in China accounted for 93.07% of global new ship orders in August 2024, indicating strong performance [3]. Economic Indicators - The report indicates that from January to August 2024, the profits of large-scale industrial enterprises in China have shown a slight increase of 0.5% year-on-year, with high-tech manufacturing sectors continuing to grow rapidly [1]. - The report also highlights a 9.02% year-on-year increase in the trade volume of engineering machinery in August 2024, with exports growing by 9.2% [6]. Price Trends - In the photovoltaic equipment sector, prices for polysilicon, silicon wafers, and modules remained stable, while battery prices saw a slight decline [4]. - The report notes that industrial gas prices, including liquid oxygen and nitrogen, have experienced a decrease compared to previous periods [6]. Recommendations - The report suggests focusing on key companies such as China CNR, Hangyang Co., and Jerry Holdings, among others, for potential investment opportunities in the mechanical industry [7].