机械工业行业周报：4月PMI为50.4%处于扩张区间，通用人形机器人母平台“天工”发布

Investment Rating - The machinery equipment sector has a cumulative excess return of +0.29 percentage points for the week ending May 5, 2024, ranking 14th among all sectors, while year-to-date, the sector's cumulative excess return is -8.87% [6][40]. Core Insights - The April PMI stands at 50.4%, indicating two consecutive months in the expansion zone, with production and new orders indices at 52.9% and 51.1%, respectively, reflecting ongoing recovery in manufacturing [40][41]. - A solid-state battery and energy storage system project by First New Energy has been signed in Guangdong with a total investment of RMB 2 billion, aiming for an annual output value exceeding RMB 1.44 billion and a tax contribution of RMB 72 million [40][41]. - Zoomlion has released a new distributed drive electro-hydraulic control technology that reduces energy loss and noise, increasing cycle life by over 40% [41]. - The humanoid robot platform "Tiāngōng" has been unveiled, featuring high computational power and precision sensors, suitable for intelligent applications and research [41]. - Air Liquide reported a net profit growth of 11.6% year-on-year in 2023, with slight fluctuations in industrial gas prices [41]. Summary by Sections Sector Performance - In the 19th week of 2024, the machinery equipment sector outperformed the Shanghai Composite Index with a weekly excess return of +0.29 percentage points, ranking 14th among all sectors [6][40]. Macro Data - The PMI for April is 50.4%, indicating continued recovery in manufacturing, with production and new orders indices at 52.9% and 51.1%, respectively [40][41]. Lithium Battery Equipment - First New Energy's project in Guangdong involves a total investment of RMB 2 billion, targeting an annual output value of over RMB 1.44 billion and a tax contribution of RMB 72 million [40][41]. Construction Machinery - Zoomlion's new technology reduces energy loss and noise, with a cycle life increase of over 40% [41]. Humanoid Robots - The "Tiāngōng" platform features high computational power and precision sensors, making it ideal for intelligent applications and research [41]. Industrial Gas - Air Liquide's net profit grew by 11.6% year-on-year in 2023, with slight fluctuations in industrial gas prices [41]. Recommended Targets - Suggested companies to watch include Hangzhou Oxygen Plant Group, Yantai Jereh Oilfield, and Sany Heavy Industry among others [41].