机械行业周报：低空经济发展向好，工程机械稳步增长-20250909

Investment Rating - The report maintains a "Recommended" investment rating for the industry [7]. Core Insights - The low-altitude economy is developing positively, with the engineering machinery sector showing steady growth. The report highlights the significant potential in the low-altitude economy, particularly in Anhui province, where over 570 enterprises have formed a robust industrial chain [3][4]. - The engineering machinery sector is expected to maintain a steady growth trend, with excavator sales in August 2025 reaching 16,523 units, a year-on-year increase of 12.8%. Domestic sales accounted for 7,685 units, up 14.8%, while exports reached 8,838 units, increasing by 11.1% [4]. Summary by Sections Weekly Market Review - From August 31 to September 5, 2025, the Shanghai Composite Index fell by 1.18%, while the Shenzhen Component Index decreased by 0.83%. The ChiNext Index rose by 2.35%. The Shenwan Machinery Equipment Index dropped by 1.37%, underperforming the CSI 300 Index by 0.56 percentage points, ranking 21st among 31 Shenwan primary industries [12][18]. Key Sector Tracking - The low-altitude economy is projected to exceed 60 billion yuan in scale by 2025, with significant developments showcased at the 2025 Low Altitude Economy Development Conference held in Wuhu, Anhui [3]. - The engineering machinery sector's performance is bolstered by strong competitive advantages among domestic leading enterprises, with a year-to-date sales increase of 17.2% for excavators [4]. Investment Recommendations - For the low-altitude economy, recommended companies include Deep City Transportation, Sujiao Science and Technology, and WanFeng Aowei. In the machinery equipment sector, focus on Sany Heavy Industry, XCMG Machinery, and Anhui Heli [5]. Key Data Tracking - The report tracks significant economic indicators, including manufacturing PMI and fixed asset investment trends, which show positive growth in the manufacturing sector [38][40].