机械行业周报：人形机器人催化不断，设备更新补贴落地利好工程机械

Investment Rating - The industry investment rating is "Overweight (Maintain)" [5][6][8] Core Viewpoints - The humanoid robot industry is experiencing continuous catalysts, with industrialization approaching. The Anhui Provincial Department of Industry and Information Technology released a draft action plan for humanoid robot industry development (2024-2027), aiming to establish an innovation system and industrial ecosystem by 2027, and accelerate the industrialization process by 2030. This sector is becoming a new frontier in global technology and industrial competition [6][7] - The market demand for construction machinery is stabilizing, supported by the Shanghai government's proposed subsidy for updating non-road mobile machinery. The subsidy amounts vary by machine type, with significant amounts for excavators and loaders. This policy is expected to boost domestic market demand recovery, with CME estimating a nearly 19% growth in excavator sales in May [7][8] Summary by Sections Market Review - In the past week (May 27-31, 2024), the CITIC Machinery Industry rose by 0.02%, ranking 11th among all primary industries. Specifically, construction machinery fell by 3.96%, while general equipment rose by 0.61% [5][29][30] Key Data Tracking - The PMI for May 2024 is 49.5%, down 0.9 percentage points from the previous month. The cumulative year-on-year growth rate for fixed asset investment in manufacturing in April 2024 is +9.7%, a decrease of 0.2 percentage points from the previous month [34][35] - In April 2024, excavator sales were 19,000 units, a year-on-year increase of 0.3% but a month-on-month decrease of 24.7% [34][35] Investment Recommendations - Recommended companies to focus on include: 1) Construction Machinery: Sany Heavy Industry, Zoomlion, XCMG, Liugong, Shantui, Hengli Hydraulic 2) General Equipment: Forklifts (Anhui Heli, Hangcha Group), Machine Tools (Haitian Precision, Neway), Tools (Huarui Precision, Oke Yi) 3) Humanoid Robots: Focus on high-tech barriers and high-value segments such as assemblies (Top Group, Sanhua Intelligent Control), sensors (Hanwei Technology, Donghua Testing), and reducers (Greaves Harmonic, Double Ring Transmission) [8][55]