证券研究报告·行业跟踪周报·机械设备 机械设备行业跟踪周报 继续看好 AI+机械设备投资机会；建议关注 短期调整较大的机器人&油服设备 增持（维持） 证券分析师 李文意 [Table_Tag] [1.Table_Summary] 推荐组合：北方华创、三一重工、中微公司、恒立液压、中集集团、拓荆科技、海天 国际、柏楚电子、晶盛机电、杰瑞股份、浙江鼎力、杭叉集团、先导智能、长川科技、 华测检测、安徽合力、精测电子、纽威股份、芯源微、绿的谐波、海天精工、杭可科 技、伊之密、新莱应材、高测股份、纽威数控、华中数控。 2.投资要点： 【机器人行业】宇树科技 IPO 材料正式公布，板块大幅回调建议布局确定性标的 3 月 20 日，宇树科技 IPO 材料正式披露，上交所预审推进顺利，已完成两轮问询回复， 上市进程持续提速；根据招股书披露，宇树 25 年营收 17.08 亿元（+335.36%），扣非 归母净利 6 亿元（+674.29%），盈利能力表现亮眼，25 年毛利率和扣非净利率分别为 60.3%和 35.1%。分产品来看，25 年前三季度四足机器人销量突破 1.7 万台（+235%）， 收入实现高增（+182%）；人 ...

Investment Rating - The report maintains a "Buy" rating for the mechanical equipment industry, with a focus on AI and mechanical equipment investment opportunities [1]. Core Insights - The report emphasizes the potential of AI-driven mechanical equipment, particularly in the robotics sector, where companies like Yushu Technology are showing significant growth in revenue and profitability [1]. - The GTC conference highlighted the increasing demand for AI computing power, which is expected to drive growth in PCB and liquid cooling segments [2]. - The solar equipment sector is poised to benefit from Tesla's procurement of photovoltaic equipment and Blue Origin's satellite launch plans, indicating strong demand for leading equipment manufacturers [3]. Summary by Sections Recommended Companies - The report suggests a focus on companies such as Northern Huachuang, Sany Heavy Industry, and Zhongwei Company, among others, across various segments including robotics, AI devices, and solar equipment [1][2][3]. Industry Trends - The robotics industry is experiencing a significant rebound, with Yushu Technology's IPO materials indicating a revenue increase of 335.36% and a net profit increase of 674.29% for 2025 [1]. - The AI device sector is seeing advancements in architecture and cooling solutions, with Nvidia's LPU architecture expected to enhance performance and drive PCB demand [2]. - The solar equipment market is benefiting from increased demand driven by major companies like Tesla and innovative projects like Blue Origin's satellite constellation [3]. Market Dynamics - The oil service equipment sector is facing short-term adjustments due to geopolitical tensions, but long-term demand is expected to rise as oil prices remain high and reconstruction efforts in conflict areas increase [7]. - The mechanical equipment industry is projected to see significant growth opportunities due to China's increasing foreign investments and the global demand for advanced machinery [37].