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机械行业周报：中国核电2024年计划投资千亿，关注核电设备投资机会
CHINA DRAGON SECURITIES·2024-03-24 16:00

Investment Rating - The report maintains a "Recommended" investment rating for the machinery industry [3]. Core Insights - China Nuclear Power plans to invest 121.55 billion yuan in 2024, a 52% increase from 80.02 billion yuan in 2023, focusing on nuclear power and related equipment investment opportunities [2][34]. - The domestic excavator market is expected to show signs of recovery, with March sales projected at around 25,000 units, a year-on-year decline of 2.26%, but with domestic sales increasing by 6.48% [3][33]. - The State Council has issued a plan to promote large-scale equipment updates, aiming for a 25% increase in investment across various sectors by 2027, creating a market exceeding 5 trillion yuan [4][30]. Summary by Sections 1. Market Performance - The machinery equipment sector saw a decline of 0.34% from March 18 to March 22, 2024, ranking 17th among 31 sectors [8]. - Notable stock performances included Huazhu Gaoke (+32.12%) and Jian Electric (+18.28%) [8]. 2. Key Industry Data - As of February 2024, China's manufacturing PMI was at 49.1%, indicating a slight decline [11]. - Fixed asset investment increased by 4.2% year-on-year, with manufacturing investment up by 9.4% [12]. 3. Industry News - The 2024 China Humanoid Robot Ecological Conference is scheduled for April 2, focusing on industry trends and challenges [27]. - A breakthrough in collaborative robots with a 35kg load capacity was announced, marking a significant milestone in the field [27]. 4. Key Listed Companies Information - Key companies to watch include Jian Electric (000922.SZ), China Nuclear Technology (000777.SZ), and Jiangsu Shentong (002438.SZ) in the nuclear power sector [2][34]. - Other notable companies include XCMG Machinery (000425.SZ) and Sany Heavy Industry (600031.SH) in the excavator market [3][33]. 5. Industry Outlook - The report suggests focusing on the nuclear power equipment supply chain and large-scale equipment updates in various sectors, including machine tools and agricultural machinery [4][30].