机械行业2026年1月投资策略：看好人形机器人、AI基建及商业航天板块的成长性机会

Group 1 - The mechanical industry index rose by 8.59% in December, outperforming the CSI 300 index by 6.31 percentage points, with a TTM P/E ratio of approximately 39.31 and a P/B ratio of 3.18, showing a month-on-month increase [1][11] - The manufacturing PMI index for December was 50.10%, marking a 0.9 percentage point increase and entering the expansion zone for the first time since April [1][11] - Sales of various excavators in December 2025 reached 23,095 units, a year-on-year increase of 19.2%, with domestic sales of 10,331 units up by 10.9% and exports of 12,764 units up by 26.9% [1][11] Group 2 - The report recommends a growth and forward-looking direction portfolio including companies such as Boying Welding, Feirongda, Hanzhong Precision, Yingliu Co., Wanze Co., and others [2][24] - Long-term recommended companies include Huace Testing, Guangdian Measurement, Yizhiming, and others, focusing on strong industry leaders [2][24] Group 3 - The report highlights AI infrastructure as a key investment direction, particularly in the gas turbine and liquid cooling sectors, recommending companies like Yingliu Co., Wanze Co., and others involved in the gas turbine supply chain [3][26] - The human-shaped robot sector is noted for its commercial potential, with several manufacturers receiving large orders, indicating a shift towards mass production [4][28] - The commercial aerospace sector is also highlighted, with a focus on core suppliers and companies within the Blue Arrow Aerospace industry chain [7][28] Group 4 - The report emphasizes the importance of high-end equipment localization as a foundation for industry autonomy, with a trend towards industrial upgrades driven by digitalization and energy transformation [15][20] - It categorizes mechanical companies into four types: upstream core component companies, midstream specialized/general equipment companies, downstream product companies, and service companies, each with distinct investment characteristics [20][21] Group 5 - The report suggests focusing on companies with strong competitive advantages and structural growth opportunities, particularly in the human-shaped robot and AI infrastructure sectors [30][39] - It identifies key areas for investment, including emerging markets and export growth, with a focus on sectors like engineering machinery, commercial kitchen equipment, and others [29][39]