GUOTAI HAITONG SECURITIES·2026-02-08 05:37Investment Rating - The report assigns an "Overweight" rating for the machinery industry [4]. Core Insights - The machinery equipment index increased by 0.57% from February 2 to February 6, 2026, with significant sales growth in excavators and loaders [2][3]. - SpaceX's acquisition of xAI and plans to deploy one million satellites open new opportunities in the space photovoltaic sector, potentially increasing demand for high-end manufacturing and customized equipment [3]. - The report highlights strong performance in the engineering machinery sector, with excavator sales reaching 18,708 units in January 2026, a year-on-year increase of 49.5%, and loader sales at 11,759 units, up 48.5% year-on-year [3]. Summary by Sections Investment Recommendations - Recommended companies in humanoid robotics include Hengli Hydraulic, Changying Precision, Zhaowei Electromechanical, Donghua Testing, and Shuanghuan Transmission. Related stocks include Zhejiang Rongtai, Weichuang Electric, Buke Co., Fengcai Technology. In chip equipment, Keri Technology is recommended. For AI infrastructure, in the liquid cooling sector, Ice Wheel Environment and Hanzhong Precision are recommended; in the gas turbine sector, Jerey and Boying Special Welding are highlighted. In engineering machinery, Sany Heavy Industry, XCMG, and Zoomlion are recommended. For photovoltaic equipment, Aotwei, Maiwei, Laplace, and Jiejia Weichuang are suggested. In lithium battery equipment, Haimeixing is recommended. For the export chain, Juxing Technology is highlighted [4]. Engineering Machinery Sector - The engineering machinery sector is experiencing high prosperity, with excavator sales increasing significantly. In January 2026, excavators sold 18,708 units, a year-on-year increase of 49.5%, with domestic sales at 8,723 units (up 61.4%) and exports at 9,985 units (up 40.5%). Loaders sold 11,759 units, a year-on-year increase of 48.5%, with domestic sales at 5,293 units (up 42.8%) and exports at 6,466 units (up 53.4%) [3]. Space Photovoltaic Sector - SpaceX's acquisition of xAI and plans to deploy up to one million satellites create new opportunities in the space photovoltaic sector. The satellites will operate in low Earth orbit, powered by solar energy, which is expected to drive demand for high-efficiency, lightweight, and flexible manufacturing equipment [3]. Controlled Nuclear Fusion - Guokai Electronics and Hefei Institute of Energy Research have established a joint laboratory to accelerate industry standards. The focus is on core technologies for pulse power devices, which are critical for national energy security and technological independence [3].