机械行业周报：9月全球半导体销售额约553亿美元，同比增长23.2%

Investment Rating - The report maintains a "Buy" rating for the mechanical industry [5]. Core Insights - The mechanical equipment industry rose by 7.9% last week, outperforming the CSI 300 index by 2.4 percentage points. The best-performing segments were robotics (30.7%), semiconductor equipment (16.4%), and lithium battery equipment (13.6%), while the lagging segments included engineering machinery (1.1%), textile machinery (3.3%), and other general equipment (3.6%) [3][6]. - Global semiconductor sales reached approximately $55.32 billion in September, marking a year-on-year increase of 23.2%. China's semiconductor sales were $16.04 billion, also up 22.9% year-on-year. The growth is attributed to improved shipments of consumer electronics and the rapid increase in demand for chips related to artificial intelligence [3][4]. - In October, China's excavator sales totaled 16,791 units, a year-on-year increase of 15.1%. Domestic sales rose by 21.6%, while exports increased by 9.5%. The demand in domestic agricultural and water conservancy sectors, along with the end of inventory depletion overseas, contributed to this growth [4]. Summary by Sections Market Review - The mechanical equipment industry experienced a 7.9% increase last week, outperforming the CSI 300 index by 2.4 percentage points. The segments showing the best performance included robotics, semiconductor equipment, and lithium battery equipment, while engineering machinery and textile machinery lagged behind [3][6]. Semiconductor Equipment - September's global semiconductor sales were approximately $55.32 billion, reflecting a 23.2% year-on-year growth. China's semiconductor sales were $16.04 billion, with a 22.9% increase. The growth is driven by improved demand in consumer electronics and AI-related chip requirements [3][4]. Engineering Machinery - In October, excavator sales in China reached 16,791 units, up 15.1% year-on-year. Domestic sales increased by 21.6%, while exports rose by 9.5%. The growth is supported by demand in agriculture and water conservancy, as well as recovering overseas markets [4]. Investment Recommendations - The report suggests that with recent policy implementations and a rebound in the PMI, the mechanical equipment industry is expected to benefit from economic stabilization and growth. The report recommends focusing on segments such as engineering machinery, rail transit equipment, semiconductor equipment, and industrial control equipment [5].