雅鲁藏布江下游水电工程开工事件点评：雅江水电站开工对工程机械影响几何?

Investment Rating - The report provides an investment rating for the industry, indicating a "Neutral" stance, which suggests a relative performance range of -5% to 10% compared to the benchmark index [7]. Core Insights - The report emphasizes the performance of the engineering machinery index, which has shown fluctuations over the specified periods, with notable changes observed from January 2023 to March 2025 [2]. Summary by Sections - Industry Performance: The engineering machinery index has experienced a significant decline of 25% from its peak, reflecting broader market trends and specific challenges within the sector [2]. - Analyst Background: The report is authored by a seasoned analyst with 10 years of experience in the securities industry, highlighting a strong academic background and recognition in the field [4]. - Research Commitment: The report asserts a commitment to independent and objective analysis, ensuring that the insights provided are based on diligent research practices [4].