机械行业周报：看好人形机器人、工程机械和燃气轮机

Investment Rating - The report maintains a "Buy" rating for the industry [1]. Core Insights - Tesla's humanoid robot, Optimus, has shown significant improvements in mobility, with plans for mass production by 2025. The integration of visual technology is expected to enhance its capabilities further [1]. - Komatsu's operating hours have turned positive for several months, indicating a recovery in the domestic excavator market. November 2024 saw excavator sales in China reach 17,590 units, a year-on-year increase of 17.9% [1]. - The construction of AI data centers is driving up global electricity consumption, which is expected to boost demand for gas turbines. The global electricity consumption for AI servers is projected to rise from 195 TWh in 2023 to 500 TWh by 2027 [1]. Summary by Sections Market Review - The SW Machinery Equipment Index decreased by 0.79% from December 9 to December 13, 2024, ranking 21st among 31 primary industry categories. Year-to-date, the index has increased by 11.90%, ranking 11th [1][75]. Key Data Tracking General Machinery - The manufacturing PMI for November was 50.3%, indicating a slight recovery in the manufacturing sector. The cumulative year-on-year sales of metal cutting machine tools increased by 7% in October 2024 [97]. Engineering Machinery - In November 2024, excavator exports reached 8,570 units, a year-on-year increase of 15.2%, reflecting a positive trend in the fourth quarter [105]. Railway Equipment - From January to November 2024, railway fixed asset investment and passenger volume increased by 11.1% and 12.6% year-on-year, respectively, indicating a recovery in railway equipment demand [112]. Shipbuilding Data - As of November 2024, the global new ship price index reached 189.18, a year-on-year increase of 6.84%. China's share of global shipbuilding orders rose to 76.22% [118].