机械行业周报2025年第36周：优必选获2.5亿元人形机器人订单，工程机械需求持续复苏-20250909

Investment Rating - The report maintains a "Buy" rating for the mechanical industry [1] Core Viewpoints - The humanoid robot sector is experiencing significant growth, with companies like Youbixun securing a 250 million yuan order for humanoid robots, indicating strong demand in industrial applications [4][5] - The engineering machinery sector is recovering, with excavator sales showing a year-on-year increase of 12.8% in August 2025, driven by domestic and export demand [15] - The liquid cooling technology is becoming a trend in data centers, with significant energy savings compared to traditional cooling methods, suggesting a shift in industry standards [7][8] Summary by Relevant Sections Humanoid Robots - Star Dust Intelligent and Shanghai Xian Gong Intelligent have formed a strategic partnership for a large-scale deployment of AI robots in various industrial scenarios [4] - Youbixun announced a procurement contract worth 250 million yuan for its humanoid robot Walker S2, set to begin delivery within the year [4] Engineering Machinery - The commencement of the Yarlung Zangbo River downstream hydropower project is expected to drive demand for engineering machinery, with total investment around 1.2 trillion yuan [14] - The domestic sales of excavators reached 7,685 units in August 2025, marking a 14.8% year-on-year increase [15] Liquid Cooling Technology - A large-scale application of immersion liquid cooling technology in data centers has been reported, achieving over 30% energy savings compared to traditional air cooling systems [7] - The penetration rate of liquid cooling in new data centers is expected to increase significantly as high-power chips become more common [8] Machine Tools & Cutters - Japan's machine tool orders amounted to 128.36 billion yen in July 2025, with a year-on-year growth of 4% [9] - China's metal cutting machine tool production increased by 13.9% year-on-year in the first seven months of 2025 [9] Robotics and Automation - The market for unmanned forklifts is projected to grow significantly, with sales expected to reach 39,000 units in 2025, reflecting a 39.3% year-on-year increase [16] - The development of low-altitude economy and eVTOL (electric vertical takeoff and landing) vehicles is gaining momentum, with significant investments and innovations in the sector [24]