机械设备行业周报：AI相关需求旺盛，积极关注相关敞口

Investment Rating - The industry investment rating is "Buy" [2] Core Viewpoints - The demand for AI-related products is strong, indicating a need to actively monitor related sectors [5] - The mechanical industry index increased by 5.72% during the week of January 13-17, 2025, outperforming the CSI 300 index which rose by 2.14% [5] - In December 2024, the industrial added value for large-scale industries grew by 6.2% year-on-year, with a month-on-month increase of 0.64% [11] - Fixed asset investment in 2024 increased by 3.2% year-on-year, with significant growth in the second industry, particularly in manufacturing and energy sectors [12] - The report suggests focusing on several core investment themes for 2025, including robust fundamental assets in engineering machinery and growth-oriented assets in humanoid robotics and renewable energy equipment [5] Summary by Sections Macroeconomic Data Tracking - In December 2024, the industrial added value for large-scale industries grew by 6.2% year-on-year, with a 0.64% month-on-month increase [11] - Fixed asset investment reached 514,374 billion CNY in 2024, marking a 3.2% increase from the previous year [12] Midstream Data Tracking - The operating hours for Komatsu excavators in China increased by 19.5% year-on-year in December 2024, indicating a positive outlook for traditional demand [22] - The report highlights a recovery in overseas markets, with all regions showing positive growth in operating hours for Komatsu excavators [22] - The oil and gas equipment and services sector is expected to benefit from increasing capital expenditures and a recovery in global energy demand [28] Shipbuilding Industry Data Tracking - As of January 18, 2025, global new ship orders decreased by 39.18% year-on-year, with container ship orders showing significant growth [30] - The new ship price index increased by 4.1% year-on-year, indicating a stable supply-demand balance in the shipbuilding market [31] - The report recommends focusing on leading domestic shipbuilding companies that are expected to benefit from the current cycle [36]