装备制造行业周报（6月第2周）：需求疲弱下光伏硅料继续承压-20250616

Investment Rating - The report does not explicitly state an investment rating for the industry [1]. Core Views - The report highlights that the photovoltaic silicon material sector continues to face pressure due to weak demand, with prices for N-type polysilicon declining [2][3]. - The engineering machinery sector is entering a period of equipment replacement, supported by policies such as special bonds and ultra-long-term government bonds, indicating a medium to long-term upward trend [3]. - The automotive sector shows a high penetration rate for new energy vehicles, with a 34.1% year-on-year increase in sales, suggesting significant long-term growth potential despite short-term adjustments [3]. - The report notes that the photovoltaic sector is under pressure due to weak downstream demand, impacting the pricing of silicon materials [3]. Summary by Sections Market Overview - From June 9 to June 13, 2025, the indices for mechanical equipment, electric equipment, and automotive sectors experienced declines of -1.17%, -0.46%, and -0.85% respectively, ranking 21st, 17th, and 19th among 31 first-level industries [1][8]. Industry News and Key Company Announcements - On June 13, during the SNEC 2025 photovoltaic exhibition, JinkoSolar signed strategic cooperation agreements with several companies for the global application of its new N-type TOPCon components [20]. - On June 12, LONGi Green Energy announced a record efficiency for its bifacial solar cells, indicating advancements in solar technology [20]. - On June 10, the National Grid Corporation launched a high-voltage direct current project, which will significantly enhance power supply capabilities in the Chongqing area [18]. Company Performance - The report lists top-performing stocks in the mechanical equipment sector, with North Mining Technology leading at a 61.09% increase, while the worst performer was Lehui International with a -14.78% decline [15][16]. - In the electric equipment sector, Aike Cyber and Jinyin Galaxy both saw a 21.15% increase, while Binhai Energy faced a -19.87% drop [15][16]. - In the automotive sector, Meichen Technology achieved a 40.96% increase, while Chaojie Technology experienced a -23.23% decline [15][16].