Huachuang Securities·2025-06-22 11:13Investment Rating - The report maintains a "Recommended" rating for the mechanical industry, particularly focusing on AI-related machinery and consumables [1]. Core Insights - The demand for machinery and consumables is expected to resonate positively due to the rapid iteration of AI models and smart hardware applications, leading to a significant increase in the demand for high-performance servers, GPUs, and advanced PCBs [6]. - The report emphasizes three key directions for robotics: marginal changes in the main chain, the evolution from products to customers and scenarios, and the importance of precision and efficiency in processing equipment [6]. - Investment suggestions highlight the potential for a new recovery cycle in the equipment industry, driven by monetary and fiscal policies, with a focus on companies in various sectors such as industrial control, robotics, machine tools, and laser industries [6]. Summary by Sections Industry and Company Investment Views - The report includes in-depth research on companies like Bozhong Precision Engineering, which is a leading player in 3C automation equipment, and is expanding into emerging fields such as new energy and semiconductor sectors [21][22]. - Another highlighted company, Sikan Technology, specializes in 3D visual digital solutions and has shown rapid revenue growth, indicating a strong market position and potential for future expansion [24][25]. Key Data Tracking - The mechanical industry comprises 633 listed companies with a total market capitalization of approximately 48,991.09 billion [3]. - The report tracks various macroeconomic indicators, including manufacturing PMI and fixed asset investment growth rates, which are crucial for understanding the industry's performance [28][32].