机械设备行业周报：政策端发力内需改善，泛科技链持续利好

Investment Rating - The industry rating is "Overweight" [1] Core Views - The report emphasizes that policy support is enhancing domestic demand and continues to favor the broader technology supply chain [1] - The mechanical equipment industry index increased by 3.46% this week, outperforming the Shanghai Composite Index by 2.29 percentage points [9][11] - The report highlights ongoing favorable policies that are expected to improve domestic demand and recommends focusing on cyclical sectors [13] Summary by Sections 1. Market Performance Review - The Shanghai Composite Index rose by 1.17%, the ChiNext Index by 2.00%, and the CSI 300 Index by 0.79%. The mechanical equipment industry index increased by 3.46%, ranking 15th among 31 industry indices [9][11] - Year-to-date, the mechanical equipment industry index has risen by 1.22% [9] 2. Weekly Updates - The report notes a strong performance in the general equipment sector, which rose by 5.93%, while the engineering machinery sector saw a slight decline of 0.28% [13][14] - The report continues to recommend sectors such as 3C equipment, semiconductor equipment, humanoid robots, and low-altitude economy [13] 3. Key Research Outcomes - Three company reports were published: "Hangcha Group: Lithium Battery + Internationalization Continues to Advance, Profitability Improves," "Liugong: Profitability Continues to Improve, Electrification + Internationalization Supports High Growth," and "Iceberg Cold Chain: Accelerating Development of Mergers and New Ventures, Profits Steadily Increase" [17] 4. Important Industry News 4.1 Photovoltaic/Wind Power Equipment - The National Energy Administration reported typical issues in distributed photovoltaic grid connection [21] - Hunan Province is accelerating the construction of key wind and photovoltaic projects for 2024 [21] 4.2 Robotics - The humanoid robot industry is expected to exceed 20 billion yuan in scale next year, with significant government support driving growth [22] 4.3 Semiconductor Equipment - The price of silicon carbide has dropped nearly 30%, impacting the semiconductor industry [23] 4.4 Lithium Battery Equipment - The rapid progress of sodium-ion battery industrialization by Pylon Technologies is highlighted [24] 4.5 Engineering Machinery - The import and export trade of engineering machinery reached 42.63 billion USD in September 2024, showing a year-on-year growth of 0.37% [25]