EBSCN·2025-09-02 07:16Investment Rating - The report maintains a "Buy" rating for the mechanical industry [1] Core Viewpoints - The report highlights the positive development trend of the liquid cooling industry, driven by the increasing power consumption of chips and the need for efficient cooling solutions [8][9] - The human-shaped robot sector is expected to see significant breakthroughs in 2025, with mass production leading to a more practical application of robots in various industries [7] - The report emphasizes the importance of government policies, such as the "Artificial Intelligence +" initiative, in fostering the growth of intelligent products and technologies [5] Summary by Relevant Sections Human-Shaped Robots - Recent corporate changes in companies like Wujie Wisdom indicate a growing focus on the development of companion robots for healthcare [4] - NVIDIA has launched the Jetson AGX Thor platform for robotics applications, which is now available globally [4] - The patent granted to Yushu Technology for a human-shaped robot foot design showcases innovation aimed at enhancing durability and responsiveness [4] Liquid Cooling - A significant project by China Telecom utilizing immersion liquid cooling technology has been completed, demonstrating a 30% reduction in energy consumption compared to traditional cooling systems [8] - The increasing power demands from high-performance chips necessitate a shift from air cooling to liquid cooling solutions, with government mandates pushing for lower energy usage in new data centers [8] - The report suggests that companies like Invid and Highlan will benefit from advancements in liquid cooling technologies [9] Machine Tools & Cutting Tools - Japan's machine tool orders showed a 4% year-on-year increase in July 2025, indicating a recovery in demand [10] - China's metal cutting machine tool production increased by 13.9% year-on-year in the first seven months of 2025, reflecting a positive trend in the industry [10] - The report recommends focusing on companies like Kede CNC and Haitan Precision for potential investment opportunities in this sector [10] Engineering Machinery - The commencement of major infrastructure projects, such as the Yarlung Zangbo River hydropower project, is expected to drive demand for engineering machinery [15] - Excavator sales in July 2025 increased by 25.2% year-on-year, with domestic sales up by 17.2% [16] - The report suggests investing in leading companies like Zoomlion and SANY Heavy Industry as they are poised to benefit from the recovery in demand [16] Semiconductor Equipment - The report notes that the implementation of reciprocal tariffs will accelerate the domestic substitution of key semiconductor equipment [19] - The emphasis on domestic production capabilities is highlighted by the significant capital injection into the semiconductor industry through the third phase of the National Integrated Circuit Fund [20] - Companies like Zhongke Feimeng and Fuchuang Precision are recommended for investment due to their roles in the semiconductor equipment sector [20] New Energy Equipment - The establishment of a sodium-ion battery production facility in Yunnan reflects the growing investment in new energy technologies [21] - Companies like XWANDA are advancing in solid-state battery technology, which is expected to revolutionize energy storage solutions [23] - The report highlights the potential for equipment manufacturers to benefit from the shift towards solid-state battery production [23] Low Altitude Economy - The report discusses the rapid development of the low-altitude economy, with significant investments in infrastructure and technology [24] - The establishment of a low-altitude safety laboratory in Hefei indicates a commitment to developing this emerging sector [25] - Companies like EHang Intelligent and others involved in low-altitude technologies are recommended for investment as the market expands [26]