机械工业行业周报：CME预估10月挖掘机销量约为同比+10%；丰田联手波士顿动力造人形机器人

Investment Rating - The mechanical equipment industry has a positive cumulative excess return of +2.29 percentage points relative to the Shanghai Composite Index for the week of October 21 to October 25, 2024, ranking it eleventh among all industries. However, the year-to-date cumulative excess return is -9.69 percentage points [12]. Core Insights - The report highlights a significant increase in excavator sales, with an estimated 16,000 units sold in October 2024, representing a year-on-year growth of approximately 10%. Domestic sales are expected to grow nearly 18%, while export sales are projected to increase by about 3% [5]. - Japan's machine tool orders from China have surged by 40.1% year-on-year, marking six consecutive months of growth, while orders from the U.S. and Europe have declined significantly [2]. - The industrial gas sector is witnessing price increases, with liquid oxygen and nitrogen prices rising by 2.05% and 2.4% respectively, although year-on-year comparisons show declines [2]. - The rail transit equipment sector has seen the completion of a new production facility for low-voltage power devices, which will primarily serve the electric vehicle market [3]. - The forklift industry is experiencing growth, with Hangcha Group reporting a 21.20% increase in net profit for the first three quarters of 2024 [3]. Summary by Sections Machine Tools - Japan's orders for machine tools from China increased by 40.1% year-on-year, while overall orders from Japan decreased by 6.4% in September [2]. Industrial Gases - Hangzhou Oxygen's first liquid hydrogen storage tank was successfully delivered, and prices for various industrial gases have shown a rising trend [2]. Rail Transit Equipment - The completion of a new production facility for low-voltage power devices aims to meet the growing demand in the electric vehicle sector [3]. Forklifts - Hangcha Group reported a total revenue of 12.733 billion yuan for the first three quarters of 2024, with a net profit increase of 21.20% [3]. Engineering Machinery - The engineering machinery sector's import and export trade volume increased by 4.1% year-on-year in the first three quarters of 2024, with a total trade volume of 40.657 billion USD [5]. Lithium Battery Equipment - The first mass production line for all-solid-state lithium batteries has been launched, with an annual production capacity of approximately 0.2 GWh [6]. Shipbuilding - China's shipbuilding industry has shown growth in all three major indicators, with a completion volume of 36.34 million deadweight tons, a year-on-year increase of 18.2% [6]. Photovoltaic Equipment - Prices for polysilicon and battery cells remained stable, while silicon wafer prices saw a decrease of 4% [7]. Export Chain - The Chinese yuan depreciated slightly against the U.S. dollar, with the exchange rate reaching 7.12 [8]. Recommended Stocks - The report suggests focusing on companies such as China CNR, Hangzhou Oxygen, and Sany Heavy Industry among others for potential investment opportunities [10].