机械设备行业周报：华为成立具身智能创新中心，人形机器人产业化再进一步

Investment Rating - The report maintains a "Recommended" investment rating for the machinery equipment industry [1]. Core Insights - The machinery equipment index increased by 4.65% from November 4 to November 15, 2024, ranking 8th among 31 primary industry categories. The automation equipment sub-sector saw the highest growth at +11.76%, while the engineering machinery sector declined by -1.49%. Current macroeconomic conditions are expected to stabilize and recover, creating investment opportunities in sectors such as humanoid robots, semiconductor equipment, and cyclical sectors benefiting from domestic demand recovery [1][3]. Summary by Sections 1. Market Performance - The machinery equipment industry rose by 4.65% during the specified period, with automation equipment leading the gains at +11.76% [1][18]. 2. Key Industry Data - As of October 2024, China's manufacturing PMI stood at 50.1%, indicating a slight increase year-on-year. Fixed asset investment in the manufacturing sector grew by 9.3% year-on-year [25][38]. 3. Industry News - Huawei established a global embodied intelligence innovation center, collaborating with 16 companies to advance humanoid robot industrialization. The humanoid robot sector is characterized by numerous participants and a trend towards AI integration [1][54]. 4. Key Listed Companies Information - Notable companies in the machinery equipment sector include XCMG Machinery (000425.SZ), which has a projected EPS of 0.56 for 2024, and China Railway (601766.SH), with an EPS of 0.47 for the same year [9]. 5. Industry Weekly Perspective - The report emphasizes the ongoing structural investment opportunities within the machinery equipment sector, particularly in humanoid robots and semiconductor equipment, while also highlighting cyclical sectors that may benefit from domestic demand recovery [1][3].