机械设备行业行业周报：2月挖机销量超预期，重视人形机器人产业链

Investment Rating - The report provides a positive outlook for the mechanical equipment industry, indicating a strong performance with a 5.46% increase in the mechanical equipment index compared to a 1.39% increase in the CSI 300 index [6]. Core Insights - The mechanical equipment sector ranks 4th among 31 industries in terms of performance, with a current valuation level of 36.1 times earnings [6][11]. - The report highlights that the top-performing segments within the mechanical equipment industry include engineering machinery, wind power equipment, and injection molding machines [11]. Summary by Sections 1. Weekly Market Review - The mechanical equipment index increased by 5.46% last week, outperforming the CSI 300 index which rose by 1.39% [6]. - The overall valuation of the mechanical industry stands at 36.1 times earnings [6]. 2. Key News - Engineering Machinery: XCMG's certified used crawler cranes are set to be exported to Southeast Asia, marking a significant step in the global expansion of China's engineering machinery sector [16]. - Rail Transportation: A total of 300 billion yuan in railway construction bonds has been approved, with funds allocated for key railway projects and equipment purchases [17]. - Oil and Gas Equipment: Global oil prices remain stable amid tariff uncertainties and OPEC+ production plans, with Brent crude oil priced below $70 per barrel [18]. - Lithium Battery Equipment: A new battery super factory in the UK has been announced with an investment exceeding 9.3 billion yuan [20]. - Photovoltaic Equipment: A 500,000-kilowatt photovoltaic project has resumed construction, aiming for full capacity grid connection by June [21]. 3. Performance of Sub-sectors - The report details the performance of various sub-sectors within the mechanical equipment industry, noting that the top three performing segments year-to-date are robots, engineering machinery, and machine tools [11][15].