机械设备行业简评：叉车全年销量保持增长，龙头企业深入智能物流领域

Investment Rating - Industry Index Rating: Overweight, indicating that the industry index is expected to outperform the CSI 300 index by 10% or more in the next 6 months [9] Core Insights - The forklift market showed steady growth in 2024, with total sales reaching 1.2855 million units, a year-on-year increase of 9.52%. Domestic sales accounted for 805,000 units (up 4.77%), while exports reached 480,500 units (up 18.53%) [8] - In January 2025, sales of various forklifts totaled 93,648 units, a year-on-year decrease of 15.4%, with domestic sales down 24% and exports up 0.69% [8] - The electric forklift segment is gaining traction, with sales of 946,300 units in 2024, representing 73.61% of total sales, an increase of 5.74 percentage points year-on-year [8] - Anhui Heli is deepening its collaboration with Huawei to lead technological upgrades in the smart logistics sector, focusing on digital transformation and AI [8] - Hangcha Group is exploring cooperation in the "smart robots + logistics" field, aiming to enhance its technological capabilities and market competitiveness [8] - The forklift industry is transitioning towards automation and smart logistics, with significant growth in the sales of mobile robots, which reached 19,500 units in 2023, a year-on-year increase of 46.6% [8] - The report suggests focusing on leading domestic forklift companies like Anhui Heli and Hangcha Group, which have strong brand recognition and global market penetration [8] Summary by Sections Market Overview - The overall forklift market is experiencing robust growth, with both domestic and international demand increasing [8] Company Developments - Anhui Heli and Huawei's partnership aims to innovate in smart logistics, potentially reshaping the competitive landscape [8] - Hangcha Group is actively pursuing advancements in logistics robotics, indicating a shift towards more intelligent solutions in the industry [8] Future Outlook - The demand for forklifts is expected to remain strong, driven by manufacturing recovery and increased logistics activity, with a focus on automation and smart technologies [8]