机械设备行业周报：Figure和1X相继更新机器人产品，智能化水平提升明显

Investment Rating - The industry investment rating is "Recommended" [3][26] Core Views - The mechanical equipment sector saw a weekly increase of 7.77%, outperforming the CSI 300 index, with automation equipment and general equipment showing strong performance at +12.06% and +9.03% respectively [3][12] - In January 2025, a total of 12,500 excavators were sold, marking a year-on-year growth of 1.1%. Domestic sales were 5,405 units, down 0.3%, while exports reached 7,107 units, up 2.19% [4][14] - The humanoid robot industry is experiencing rapid development, with significant advancements in AI capabilities and hardware design, as demonstrated by recent product launches from companies like Figure and 1X [5][18] Summary by Sections Market Performance - The mechanical equipment sector outperformed the CSI 300 index with a 7.77% increase, ranking second among 31 first-level industries [12] - The best-performing sub-sectors included automation equipment (+12.06%) and general equipment (+9.03%) [12] Engineering Machinery - The engineering machinery sector is expected to see improved performance in February due to low base effects, with a positive outlook for Q1 2025 [4][14] - The sector's valuation has become attractive after previous corrections, with recommendations for companies such as SANY Heavy Industry, XCMG, and Zoomlion [4][15] Humanoid Robots - The humanoid robot sector is witnessing a surge in activity, with new product launches and advancements in technology, including the introduction of the NEO Gamma robot by 1X [5][16][18] - Key components like reducers and screws are critical for enhancing humanoid robot capabilities, with recommendations for companies involved in these areas [5][18] Investment Suggestions - The report suggests continued attention to the humanoid robot sector due to recent catalysts and the potential for cost reductions in production [6][13] - The engineering machinery sector is also highlighted for its recovery potential and attractive valuations, encouraging low-position investments [6][15]