机械行业周报（20250630-20250706）：关注长期竞争力企业，重视机器人场景落地-20250706

Investment Rating - The report maintains a "Recommended" rating for the mechanical industry, emphasizing the importance of focusing on companies with long-term competitive advantages and the implementation of robotics in various scenarios [2][7]. Core Insights - The mechanical industry is expected to enter a new recovery cycle due to increased monetary and fiscal policies, with a focus on domestic demand stimulation [7]. - The report highlights the shift of humanoid robots from product development to customer acquisition and the critical phase of commercial implementation, particularly in sectors like automotive manufacturing and intelligent logistics [7]. - Investment suggestions include focusing on companies in the industrial control sector, robotics, machine tools, cutting tools, testing, engineering machinery, and logistics equipment [7]. Summary by Sections Key Company Earnings Forecasts, Valuation, and Investment Ratings - Companies such as 汇川技术 (Inovance Technology), 法兰泰克 (Flantech), and 信捷电气 (Xinjie Electric) are rated as "Strong Buy" with projected EPS growth from 2.12 to 3.01, 0.60 to 0.94, and 1.83 to 2.78 respectively from 2025E to 2027E [3][8]. - The report provides a detailed earnings forecast and valuation metrics for various companies, indicating strong growth potential in the mechanical sector [3]. Industry and Company Investment Views - The report discusses the precision reducer market, which is expected to reach a scale of 9.1 billion yuan in 2024, with domestic companies increasing their market share [21][22]. - The report identifies three major downstream application scenarios for precision reducers: industrial robots, high-end machine tools, and humanoid robots, highlighting the growth potential in these areas [23]. - Companies like 博众精工 (Bozhong Precision) are noted for their multi-track business layout and significant revenue growth, with a projected CAGR of 11.94% from 2018 to 2024 [27][29]. Key Data Tracking - The report includes macroeconomic data, such as the manufacturing PMI index and fixed asset investment growth rates, which are crucial for understanding the industry's performance [34][35]. - It also tracks the monthly sales of excavators and forklifts, providing insights into the demand trends within the mechanical sector [41][42].