SINOLINK SECURITIES·2025-12-28 11:20Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The SW Machinery Equipment Index increased by 4.50% in the last week, ranking 6th among 31 primary industry categories, while the CSI 300 Index rose by 1.95% [3][13] - Year-to-date, the SW Machinery Equipment Index has risen by 39.84%, also ranking 6th, compared to an 18.36% increase in the CSI 300 Index [3][16] - The report highlights the urgency of launching reusable rockets to secure space resources, predicting that 2026 will be a pivotal year for reusable rocket launches [5][22] - The acquisition of a 43% stake in Fenglong by UBTECH is noted as a significant move in the humanoid robot sector, emphasizing the importance of capital market opportunities [5][30] Summary by Sections 1. Stock Portfolio - Recommended stocks include Chaojie Co., Bluelight, and Hengli Hydraulic [11] 2. Market Review - The SW Machinery Equipment Index's performance over the last week and year-to-date is detailed, showing significant growth compared to the broader market [3][16] 3. Core Insights Update 3.1 Urgency in Rocket Launches - The report discusses the competitive landscape of satellite launches, particularly focusing on SpaceX's Starlink and the need for China to enhance its commercial rocket capabilities [5][22][24] - The cost structure of rockets is analyzed, emphasizing the importance of reusable technology in reducing launch costs [27][29] 3.2 UBTECH's Acquisition of Fenglong - UBTECH's strategic acquisition is positioned as a move to strengthen its humanoid robotics capabilities, with a focus on mass production and cost efficiency [5][30] 4. Key Data Tracking 4.1 General Machinery - The general machinery sector is under pressure, with the PMI indicating a contraction [32] 4.2 Engineering Machinery - The engineering machinery sector is experiencing an upward trend, with excavator sales showing significant growth [41][43] 4.3 Railway Equipment - The railway equipment sector is stable, with consistent investment growth [49] 4.4 Shipbuilding - The shipbuilding sector is experiencing a slowdown, with new ship price indices showing a decline [52] 4.5 Oil Service Equipment - The oil service equipment sector is stabilizing, with positive developments in the Middle East [54] 4.6 Industrial Gases - The industrial gases sector is expected to benefit from improved steel profitability and increased demand [59] 4.7 Gas Turbines - The gas turbine sector is showing robust growth, with significant order increases reported [61]