9月24日上午，A股三大指数走势分化，上证指数盘中上涨0.07%，能源设备、房地产、燃气等板块涨幅 靠前，电子元器件、餐饮旅游跌幅居前。机床板块个股分化，截至10:11，机床ETF（159663）下跌 0.20%，其成分股柏楚电子上涨3.85%，宇晶股份上涨2.82%，海目星上涨2.68%，豪迈科技上涨2.60%。 然而，大族激光、合锻智能等表现不佳，其涨跌幅分别是-5.15%、-4.34%。 机床ETF（159663），紧密跟踪的中证机床指数，涵盖了我国制造业产业链中的关键一环——高端装备 制造领域，涉及激光设备、机床工具、机器人、工控设备等行业，是新质生产力理念强调创新驱动与产 业升级落地实践的核心阵地。其场外联接基金为，A类：017573；C类：017574。 9月16日，马斯克推特发文表示正在全身心投入到Optimus生产等工作中。相对来说，马斯克目前工作重 心明显回归机器人。 江海证券表示，展望2025年，随着设备更新需求释放及增量政策效果落地，机床下游需求将持续复苏。 在航空航天、人形机器人等新兴产业的快速发展背景下，市场对中高端数控机床的需求也将持续增长， 有望推动机床企业经营业绩显著改善。 ...

Investment Rating - The industry investment rating is Neutral [4][17]. Core Insights - The report emphasizes that innovation and industrial upgrades are driving high-quality development in the non-ferrous metals industry, with emerging demands from sectors like commercial aerospace, Beidou applications, and new energy storage significantly increasing the demand for high-performance non-ferrous metals [5][7]. - The rapid growth of industries such as new energy vehicles, photovoltaics, and wind power is expected to amplify the demand for metals like copper, aluminum, lithium, and cobalt [5][7]. - The government's focus on expanding domestic demand and promoting green low-carbon development presents new opportunities for the industry, particularly for basic metals like copper and aluminum [8][9]. - The report highlights the importance of the "Belt and Road" initiative in enhancing international cooperation and optimizing the supply chain for non-ferrous metal enterprises [9]. - The digital transformation of the industry, aided by AI and other technologies, is expected to improve efficiency and reduce costs across various stages from mineral exploration to market monitoring [9]. Summary by Sections Government Work Report Overview - The government work report outlines the overall requirements and policy directions for economic and social development in 2025, emphasizing the need for high-quality development in the non-ferrous metals sector [6]. Emerging Industry Trends - The report identifies that new industries are emerging, which will drive the demand for high-performance non-ferrous metals, with significant growth expected in the use of copper and aluminum in new energy sectors [7][8]. Domestic Demand and Green Development - The government's strategy to expand domestic demand is expected to boost the demand for non-ferrous metals, particularly in infrastructure, real estate, and automotive sectors [8][9]. International Cooperation and Market Expansion - The "Belt and Road" initiative is seen as a key factor in enabling non-ferrous metal companies to expand internationally and secure more resources [9]. Digital Transformation - The report discusses the potential of AI and digital technologies to enhance the quality and efficiency of the non-ferrous metals industry [9].