机械行业周报：10月我国金切机床产量约6.0万台，同比增长7.1%

Investment Rating - The report maintains a "Buy" rating for the machinery industry [4][7]. Core Insights - The machinery equipment industry experienced a decline of 4.7% last week, underperforming the CSI 300 index by 1.4 percentage points. The best-performing segments included lithium battery equipment (7.0%), printing and packaging machinery (3.6%), and photovoltaic processing equipment (1.8%). Conversely, segments such as general equipment (-7.6%), automation equipment (-7.4%), and machine tools (-6.9%) lagged behind [6][11]. - In October, China's metal cutting machine tool production reached approximately 60,000 units, marking a year-on-year increase of 7.1%. From January to October, the cumulative production was about 570,000 units, with a year-on-year growth of 7.4% [6][7]. - The industrial robot production in October was about 51,000 units, reflecting a year-on-year growth of 33.4%. The cumulative production from January to October was approximately 466,000 units, with a year-on-year increase of 13.3% [6][7]. - The report highlights that the manufacturing sector's resilience is supported by a series of incremental policies and a rebound in the PMI, which returned to the expansion zone. The machinery equipment industry is expected to benefit from economic stabilization and increased investment in fixed assets [7][8]. Summary by Sections Market Review - The machinery equipment industry saw a 4.7% decline last week, underperforming the CSI 300 index by 1.4 percentage points. The best-performing segments were lithium battery equipment (7.0%), printing and packaging machinery (3.6%), and photovoltaic processing equipment (1.8%) [11][13]. Production Data - In October, China's metal cutting machine tool production was approximately 60,000 units, a year-on-year increase of 7.1%. The cumulative production from January to October was about 570,000 units, with a year-on-year growth of 7.4% [6][7]. - The production of industrial robots in October reached about 51,000 units, a year-on-year increase of 33.4%. The cumulative production from January to October was approximately 466,000 units, reflecting a year-on-year growth of 13.3% [6][7]. Investment Recommendations - The report suggests that the machinery equipment industry is likely to benefit from economic recovery and increased investment in infrastructure and fixed assets. It recommends focusing on segments such as engineering machinery, rail transit equipment, semiconductor equipment, and industrial control equipment [7][8].