机械设备行业跟踪周报：推荐工程机械开门红机遇，持续推荐燃气轮机、光模块设备-20251228

Investment Rating - The report maintains an "Overweight" rating for the mechanical equipment industry [1] Core Insights - The engineering machinery sector is expected to see a significant increase in activity during Q1, driven by various factors including policy support and seasonal demand [2] - The demand for optical module equipment is projected to rise due to increased shipments of computing servers, particularly from AI companies [3] - The gas turbine market is anticipated to benefit from the expansion of AI data centers, which require reliable power sources [4] Summary by Sections Recommended Companies - The report suggests a focus on companies such as Northern Huachuang, Sany Heavy Industry, and others in the engineering machinery sector [1] - In the optical module space, companies like Robotech and Aotewi are highlighted for their potential [3] - For gas turbines, companies such as Jereh and Yingliu are recommended due to their strong market positions and partnerships [4] Engineering Machinery - Q1 is typically a peak season for engineering machinery, with historical data showing significant sales during this period [2] - The report notes that domestic excavator sales in Q1 have historically accounted for a substantial percentage of annual sales, indicating strong seasonal demand [2] Optical Module Equipment - The report highlights the increasing demand for optical modules as AI companies ramp up server production, with a shift towards automation in manufacturing processes [3] - Companies like Injoinic and NewEase are noted for their labor-intensive production models, which are expected to evolve with technological advancements [3] Gas Turbines - The report emphasizes the growing need for reliable power sources in AI data centers, with gas turbines being a preferred solution due to their quick construction and stable output [4] - Domestic companies are positioned to capture market share as they partner with established international firms [4]