Guodu Securities·2025-03-05 01:47Investment Rating - The industry investment rating is "Recommended" [3][5] Core Insights - The mechanical equipment sector saw a significant increase of 5.45% last week, outperforming the CSI 300 index, with automation equipment and general equipment showing the best performance at +9.93% and +6.31% respectively [3][11] - The humanoid robot industry is experiencing rapid advancements, highlighted by Tesla's recruitment for engineering positions to accelerate the mass production of humanoid robots, and the successful performance of UTree robots at the Spring Festival Gala [4][13] - In the engineering machinery sector, major manufacturers like Zoomlion and XCMG reported strong sales, with Zoomlion delivering over 10,000 units worth approximately 5.7 billion yuan, indicating a potential increase in profitability for the sector [4][14] Summary by Sections Market Performance - The mechanical equipment sector's performance ranked 5th among 31 first-level industries, with all sub-sectors showing positive growth, particularly automation equipment and general equipment [11] - The TTM price-to-earnings ratio for the mechanical equipment sector is 32.61x, compared to 18.42x for all A-shares [11] Humanoid Robots - UTree's humanoid robots showcased advanced motion control capabilities at the Spring Festival Gala, indicating significant progress in both software and hardware [4][13] - Tesla's humanoid robot project is set to enter small-scale production, with expectations for thousands of units to be produced by 2025 [13][14] Engineering Machinery - The engineering machinery sector is expected to benefit from improved operating hours and strong sales performance, with a notable increase in demand for excavators and other machinery [16][17] - The sector's valuation has become attractive after previous corrections, with recommendations to focus on companies like SANY Heavy Industry and XCMG [17]