机械设备行业周报：三季报预告陆续发布，细分龙头增长亮眼

Investment Rating - The report assigns an "Overweight" rating to the machinery equipment industry, indicating a positive outlook for the sector in the coming months [6]. Core Insights - The machinery equipment industry is experiencing growth driven by improved demand in downstream markets, particularly in the tool sector, with companies like Juxing Technology and Jack Co. showing significant revenue increases [6][19]. - The report highlights the importance of companies' internal growth capabilities alongside macroeconomic factors, emphasizing that firms with strong fundamentals can outperform during industry fluctuations [6][19]. - The trend towards digitalization and smart manufacturing in the textile and apparel sector is driving demand for updated machinery and production lines [19][20]. Summary by Sections Juxing Technology - Juxing Technology is expected to return to a growth trajectory in 2024, with Q1 and Q2 revenues increasing by 29.4% and 26.2% year-on-year, respectively [12]. - The company anticipates a revenue growth of over 30% in Q3 2024, driven by improved consumer demand in North America [12][15]. - The proportion of self-owned brands has increased from 30.7% in 2020 to 44.1% in H1 2024, contributing to a 15.1% year-on-year growth in self-owned brand revenue [15][16]. Jack Co. - Jack Co. forecasts a net profit growth of 45.5% to 52.8% year-on-year for the first three quarters of 2024, supported by a recovery in textile machinery demand [19][21]. - The company has successfully implemented a "fast response" strategy, leading to strong sales of key products like the "Quick Response King" sewing machine [19][21]. LiuGong - LiuGong expects a net profit growth of 50% to 70% year-on-year for the first three quarters of 2024, benefiting from internal reforms and improved operational efficiency [22][23]. - The company has seen a significant increase in overseas sales, with a reported 18.8% year-on-year growth in foreign revenue for H1 2024 [23]. Industry Dynamics - The report notes a shift in the textile and apparel industry towards smaller batch production and rapid response to market changes, necessitating updates in machinery and production processes [19][20]. - The introduction of new technologies, such as the industrial humanoid robot Walker S1, is expected to enhance operational efficiency in manufacturing [25].