Core Viewpoint - The Ministry of Industry and Information Technology has issued the first policy document on measurement innovation and development in the manufacturing sector, marking a new phase of policy guidance and innovation-driven development in China's manufacturing measurement work [1] Group 1: Importance of Measurement in Manufacturing - Measurement is a crucial technical foundation for manufacturing, deeply integrated into the entire process of product design, research and development, production, testing, and usage, directly affecting the efficiency of the entire industry chain [1] - The development of manufacturing measurement is a key "small gap" for high-quality development in China's manufacturing sector, with significant implications for advancing new industrialization and achieving the strategy of becoming a manufacturing powerhouse [1] Group 2: Current State and Challenges - Despite recent advancements, China's manufacturing measurement level still lags behind international standards, with issues such as outdated standards, reliance on imports for high-end instruments and core components, and insufficient application of measurement data [2] - The global measurement landscape is rapidly changing, with developed countries increasing investments in measurement technology research, necessitating a systematic enhancement of China's manufacturing measurement innovation capabilities to address core challenges [2] Group 3: Policy Recommendations and Strategic Directions - There is a need to improve the legal and regulatory framework for measurement, including revising relevant laws and establishing a dynamic mechanism for the measurement technical standards that align with advanced technology research [2] - Comprehensive enhancement of measurement capabilities is essential, focusing on emerging fields such as quantum technology, artificial intelligence, and advanced manufacturing, while also accelerating the development of high-precision and intelligent measurement instruments [3] Group 4: Digital Transformation and Application - The digital transformation of manufacturing measurement should be accelerated by constructing a national measurement data center for data integration and sharing, and developing an artificial intelligence measurement testing system [3] - Establishing a national-level supply-demand matching platform and improving the measurement technology innovation mechanism will strengthen the support for new productive forces in manufacturing [3]

Investment Rating - The investment rating for the industry is "Outperform the Market" (maintained) [1][6] Core Insights - The first policy document regarding manufacturing measurement was released by the Ministry of Industry and Information Technology on June 7, 2025, aimed at enhancing measurement capabilities in the manufacturing sector and supporting the construction of a modern industrial system [2][5] - The action plan issued on July 9, 2025, by the State Administration for Market Regulation and the Ministry of Industry and Information Technology focuses on elevating measurement as a foundational infrastructure for new quality productivity, establishing a project database for ten frontier industries, and promoting cross-industry collaboration [3][11] - The policy and action plan are expected to accelerate high-quality development in the measurement industry, leading to an upgrade in demand and optimization of supply [3][16] Summary by Sections Policy Document Overview - The document outlines quantitative targets to be achieved by 2027 and 2030, including over 100 key measurement calibration technologies and the establishment of high-level measurement institutions [5][7] - It emphasizes six key tasks to strengthen effective supply in manufacturing measurement, including innovation in emerging fields and the development of high-precision measurement instruments [8][10] Action Plan Overview - The action plan aims to support the development of new quality productivity from 2025 to 2030, focusing on major measurement needs in key industries such as artificial intelligence and aerospace [12][13] - It includes a mechanism for collecting project demands, establishing a project database, and selecting key projects annually [14][15] Investment Recommendations - The report highlights specific companies to focus on, such as Guangdian Measurement and Huace Testing, which are positioned to benefit from the new policies and are expected to see growth in demand due to their leading roles in measurement calibration and testing services [16]