机械工业行业周报：前三季度我国GDP同比+4.8%；持续关注顺周期、地产基建方向

Investment Rating - The report maintains an "Outperform" rating for the mechanical industry, with a focus on cyclical growth and infrastructure investment in China [1]. Core Insights - The mechanical equipment sector ranked fifth among all industries in terms of weekly cumulative excess returns, achieving a positive excess return of +2.74% for the week of October 14 to October 18, 2024. However, the year-to-date cumulative excess return remains negative at -11.80% [9][11]. - The report highlights significant developments in various sub-sectors, including oil service equipment, forklifts, rail transit equipment, and robotics, indicating a diverse range of growth opportunities within the mechanical industry [2][3][5][6]. Summary by Relevant Sections Macroeconomic Data - China's GDP grew by 4.8% year-on-year in the first three quarters of 2024, with a quarter-on-quarter growth of 0.9% in Q3. The Consumer Price Index (CPI) increased by 0.3 percentage points, while the Producer Price Index (PPI) decreased by 2.0% [1]. Sub-sector Performance - Oil Service Equipment: Jerry Environmental launched the world's first resource recycling solution for decommissioned wind and solar equipment, showcasing advanced recycling technologies [2]. - Forklifts: In September, forklift sales increased by 6.06% year-on-year, with domestic sales down by 5.32% and exports up by 28.5% [2]. - Rail Transit Equipment: China Railway showcased integrated solutions at the Beijing International Wind Energy Conference, including a 20MW floating offshore wind turbine platform [2]. - Robotics: UBTECH released a new generation of humanoid robots, and Beite Technology announced an 18.5 billion yuan investment in a robotics component project in Kunshan [3]. Industrial Data - The construction machinery sector reported a rental index of 383 for the first week of October 2024, with various equipment sales showing mixed results. For instance, sales of crawler cranes fell by 18% year-on-year [5]. - Lithium Battery Equipment: LG Energy Solution secured two major battery supply contracts with Ford, totaling 109 GWh, while Bangyu New Energy commenced a 30 billion yuan battery project [6]. - Photovoltaic Equipment: Prices for polysilicon, silicon wafers, and battery cells remained stable, while module prices saw a slight decline [6]. Market Trends - The report suggests monitoring key companies such as China Railway, Hanyang Group, Jerry Holdings, and others for potential investment opportunities [7].