机械设备行业周报（2024年第47周）

Investment Rating - The report maintains an "Outperform" rating for the mechanical equipment industry [4]. Core Insights - The mechanical equipment industry experienced an overall decline of 4.66% during the week of November 11-15, 2024, with specialized equipment showing the smallest drop at -3.74% and general equipment the largest at -5.51% [12][15]. - Retail sales of passenger vehicles reached 567,000 units from November 1-10, 2024, marking a year-on-year increase of 29% but a month-on-month decrease of 3% [23]. - The wholesale of passenger vehicles for the same period was 667,000 units, reflecting a year-on-year growth of 41% and a month-on-month increase of 45% [23]. Summary by Sections 1. Industry Overview - The mechanical equipment industry saw a decline of 4.66% in the week of November 11-15, 2024, ranking 21st among sectors [12]. - Specialized equipment had the smallest decline at -3.74%, while general equipment faced the largest drop at -5.51% [15]. 2. Industry Data Tracking - From November 1-10, 2024, the retail of passenger cars was 567,000 units, a 29% increase year-on-year but a 3% decrease month-on-month, with cumulative retail sales for the year at 18.402 million units, up 4% year-on-year [23]. - The wholesale figure for the same period was 667,000 units, showing a 41% year-on-year increase and a 45% month-on-month increase, with cumulative wholesale for the year at 21.843 million units, up 5% year-on-year [23]. - In October 2024, China imported integrated circuits worth $34.26 billion, a month-on-month decrease of 4.8%, while exports of electromechanical products were $187.98 billion, a month-on-month increase of 1.9% [26]. 3. Industry News Announcements - In October 2024, the total retail sales of consumer goods reached 4.5396 trillion yuan, a year-on-year increase of 4.8%, with significant growth in various categories driven by the old-for-new consumption policy [32]. - The average operating rate for major engineering machinery products in October 2024 was 65.1%, with excavators at 70% and loaders at 63.9% [32].