SINOLINK SECURITIES·2025-03-30 05:19Investment Rating - The report does not explicitly state an investment rating for the industry [3]. Core Insights - The SW Machinery Equipment Index decreased by 3.49% last week, ranking 28th among 31 primary industry categories, while the CSI 300 Index increased by 0.01% [3][15]. - Year-to-date, the SW Machinery Equipment Index has risen by 12.07%, ranking 3rd among the 31 primary industry categories, while the CSI 300 Index has decreased by 0.50% [3][15]. - The CMI index for March 2025 is 128.56, indicating an 18.28% year-on-year increase and a 20.51% month-on-month increase, suggesting a recovery in domestic engineering machinery demand [5][22]. - The report emphasizes the importance of the robotics industry and suggests focusing on key segments such as screws, sensors, reducers, and equipment companies under expansion expectations [5][22]. Summary by Sections Market Review - The SW Machinery Equipment Index fell by 3.49% last week, while the CSI 300 Index rose by 0.01% [3][15]. - The SW Machinery Equipment Index has increased by 12.07% year-to-date, outperforming the CSI 300 Index, which has decreased by 0.50% [3][15]. Key Data Tracking General Machinery - The manufacturing PMI for February is 50.2%, indicating a steady recovery in manufacturing activities [21]. - The production of industrial robots in December 2024 increased by 36.7% year-on-year, while the cumulative production of metal cutting machine tools rose by 10.5% [21]. Engineering Machinery - In February 2025, excavator sales reached 19,300 units, a year-on-year increase of 52.8%, with domestic sales showing a strong upward trend [35]. Marine Equipment - As of February 2025, China's shipbuilding order share reached 66.70%, up from 57.13% at the end of 2024, indicating an increase in global market share [47]. Oil Service Equipment - Brent crude oil prices have stabilized around $70 per barrel, with OPEC+ members planning to gradually restore production starting in April, which may exert pressure on mid-to-long-term oil prices [59]. Industrial Gases - Liquid oxygen prices continue to rise, but the market is expected to enter a seasonal recovery phase soon, maintaining a weak balance between supply and demand [62].