机械设备行业2025Q2基金持仓分析报告：2025Q2机械设备行业基金重仓配置比例有所下降

Investment Rating - The industry is rated as "Outperforming the Market," indicating an expected relative increase of over 10% in the industry index compared to the broader market within the next six months [35]. Core Insights - The total market value of public funds heavily invested in the SW Machinery Equipment industry reached 72.996 billion yuan in Q2 2025, reflecting a quarter-on-quarter decrease of 14.84% but a year-on-year increase of 0.17% [10][11]. - The proportion of the SW Machinery Equipment industry in public fund holdings is 2.82%, ranking 13th among 31 first-level industries, with a low allocation ratio of 1.64%, ranking 27th [11][10]. - The concentration of holdings in the top five, ten, and twenty stocks has decreased, with their combined market values at 31.031 billion yuan, 40.489 billion yuan, and 51.136 billion yuan, respectively, showing a decline in concentration [15][2]. Summary by Sections Overall Industry - The SW Machinery Equipment industry continues to be underweighted, with a slight year-on-year increase in total market value but a significant quarter-on-quarter decline [10][11]. - The industry remains at a median level in terms of fund holdings, with a low allocation ratio compared to other sectors [11]. Sub-sectors - The automation equipment and engineering machinery sectors are the primary focus for fund institutions, with total market values of 26.745 billion yuan and 15.444 billion yuan, respectively, although both sectors saw a decline [21][15]. - The specialized equipment sector experienced a slight increase in holdings, while the general equipment and rail transit sectors saw declines [15][21]. Stock Trends - The top ten heavily held stocks in the SW Machinery Equipment industry include Huichuan Technology, Sany Heavy Industry, and Haomai Technology, with mixed performance; only Huagong Technology and Nuwei shares saw increases [26][28]. - The top ten stocks that received increased holdings mainly involved automation and engineering machinery, with overall positive performance in terms of stock price increases [28][29]. - Conversely, the top ten stocks that were reduced in holdings saw overall declines, particularly in the engineering machinery sector [30][31]. Investment Recommendations - The report suggests focusing on companies benefiting from large-scale equipment renewal policies and those with strong export resilience, while also emphasizing the importance of embracing automation and domestic substitution in the long term [33].