机械设备：攻守易形，科技成长为矛

Investment Rating - The report maintains a rating of "Buy" for the mechanical equipment industry [4] Core Insights - The robotics sector is experiencing a significant transformation, with major players like Tesla, Huawei, and others driving advancements in domestic robotics, suggesting a potential growth area in the coming years [1] - The satellite internet industry is rapidly evolving, with a notable increase in low Earth orbit satellite deployments, particularly by SpaceX, indicating a robust commercial rollout [2] - The ongoing technological competition between major powers emphasizes the need for self-sufficiency in critical equipment and components, highlighting opportunities in high-end manufacturing and semiconductor equipment [3] Summary by Sections Section 1: Humanoid Robots - The use of ball screw technology in humanoid robots is crucial for converting rotational motion to linear motion, with Tesla's Optimus robot exemplifying this application [10] - The market potential for ball screws in humanoid robots is substantial, with projections indicating a demand of 6.9 billion to 13.8 billion yuan based on production estimates of 500,000 to 1 million units [10] - Key companies in the ball screw sector include Beite Technology, New Sword Transmission, Best, and Wuzhou Xinchun, which are positioned to benefit from the growth in humanoid robotics [13] Section 2: Satellite Internet - The global satellite internet market is projected to reach approximately 285.3 billion dollars in 2023, with significant contributions from satellite manufacturing, launching, ground equipment, and operational services [2] - China is actively promoting its satellite industry, with several major projects expected to launch in 2025, indicating a strong growth trajectory for domestic satellite internet services [2] Section 3: Self-Sufficiency in Technology - The report highlights the urgency for China to enhance its supply capabilities in high-end equipment and critical components due to ongoing geopolitical tensions [3] - Recommended focus areas include industrial mother machines and semiconductor equipment, with companies like Yingjie Electric and Huazhong CNC being highlighted for their potential in this space [3]