一方面是46系等大圆柱电池技术的快速发展，对锂电生产设备的精度、配套尺寸等提出新一轮要求；另一方面 是，设备企业为稳定份额，保持核心竞争力，在产品与技术层面启动自我革新。很明显，在市场需求和自我需 求的双向推动下，锂电设备企业正加速驶入技术创新、工艺升级的新赛道。 以辊压分切设备为例，随着电芯尺寸的变大，该设备产品也有着明显的发展趋势。一是向一体化发展，即辊压 及分切工序集中一体，通过设备生产效率、自动化程度和出产一致性的提升可减少单位产出比的成本投入；二 是向高速度、大宽幅、大辊径发展，目前辊压分切一体机正从800mm向1500mm迈进，甚至1600mm等更高的 水平。 在此背景下，锂电池极片成套生产企业 达力智能加大研发投入，进行全极耳圆柱电池辊分切工艺及设备的" 革 新 "。 锂电新一轮竞争周期中，"不创新、无订单"成为设备市场真实写照。 两大重点设备革新涂布辊分切工艺 在2025起点锂电圆柱电池技术论坛上，达力智能 副总经理 胡邹民针对辊压涂布工艺重点介绍了两大设备产 品。 其一是宽幅双层挤压涂布分切机。 目前锂离子电池宽幅极片生产过程中，都是由独立的单机自动化设备进行生 产的，现如今宽幅涂布越来越多 ...

Investment Rating - The report maintains a "Buy" rating for the machinery industry [1] Core Insights - In February 2025, excavator sales in China increased by 52.8% year-on-year, reaching 19,270 units, exceeding expectations [4] - The machinery equipment industry rose by 5.5% last week, outperforming the Shanghai and Shenzhen 300 index by 4.1 percentage points [3][9] - The CMI index for February was 106.68 points, indicating a stable development phase with significant improvements in various indices, including new orders and production [5] Summary by Sections Market Review - The machinery equipment industry has shown strong performance with a 15.2% cumulative increase year-to-date, outperforming the Shanghai and Shenzhen 300 index by 16.6 percentage points [12] - The best-performing sub-sectors include engineering machinery components (59.6%) and metal products (30.3%) [12] Engineering Machinery - The domestic sales of excavators in February reached 11,640 units, a 99.4% increase year-on-year, while exports totaled 7,630 units, up 12.7% [4] - The average working hours for major engineering machinery products in February were 46.4 hours, a 70.3% year-on-year increase [5] Investment Recommendations - The report suggests focusing on sub-sectors such as engineering machinery, industrial robots, semiconductor equipment, and industrial control equipment, as they are expected to benefit from economic recovery and policy support [6] Key Company Earnings Forecasts and Ratings - Companies like Huichuan Technology and Zhongwei Company are rated "Buy" with projected revenue growth and profitability improvements [20] - Sany Heavy Industry is rated "Hold" with stable growth expectations [20] Fundamental Data - The report highlights the cumulative issuance of special bonds by local governments, which is expected to support infrastructure investment and machinery demand [21]

Summary of Key Points from the Conference Call Industry Overview - The mechanical sector, particularly the robotics segment, has shown significant growth since the Spring Festival, despite recent market adjustments. The overall outlook remains optimistic due to improving fundamentals, reasonable valuations, and strong annual and quarterly reports from industry companies [2][42]. Key Companies and Their Performance Excavator Market - The domestic excavator market is expected to see a year-on-year sales increase of over 70% in February, with a combined growth of approximately 37% for January and February. This growth is driven by rural demand, high-standard farmland construction, and small infrastructure projects [3][2]. - SANY Heavy Industry is projected to achieve a domestic growth rate of 10%-20% and maintain similar export growth. The company is launching a new series of excavators in Europe and the U.S. and is enhancing its competitiveness in overseas mining through operations in Indonesia [5][2]. - XCMG Group leads in the mining equipment sector, having signed overseas orders exceeding 3 billion RMB in the second half of last year, which will contribute to revenue recognition this year [6][2]. - LiuGong has improved its domestic excavator market share from over 8% to over 14% post-restructuring, with steady profitability improvements. The company is focusing on cost reduction and efficiency enhancements [7][2]. - Hengli Hydraulic is benefiting from land rights issues and collaborations with Tesla, with expectations of becoming a key supplier for humanoid robots [13][2]. - China Power is excelling in the marine engine sector, with expectations of significant profit growth by 2025 due to acquisitions and a focus on new energy servo motors [17][2][18]. Injection Molding Machine Industry - The injection molding machine sector performed better than expected in February, with leading companies reporting over 50% year-on-year order growth in a single month and over 20% growth overall for January and February. The growth is supported by large-scale equipment upgrades and domestic demand [40][2]. Additional Insights - The agricultural machinery sector is expected to grow due to increased crop yields and land consolidation, with significant investments in high-end machinery driven by government policies [22][23]. - Zhejiang Dingli has benefited from reduced tariffs and is expected to see significant sales growth in the U.S. market, with a strong performance anticipated in 2025 [25][2]. - The shipbuilding sector remains a focus, with companies like China Power and Jiangsu Hantong expected to perform well due to ongoing demand for new vessels and the aging global shipping fleet [16][20]. Recommendations - Key companies to watch include SANY Heavy Industry, XCMG Group, LiuGong, Hengli Hydraulic, and China Power in the mechanical sector. In the lithium battery equipment sector, companies like Xian Dai Intelligent and Haopeng Technology are recommended. The export chain includes companies like Haomai Technology and Zhejiang Dingli, while the shipbuilding sector highlights China Power and Jiangsu Hantong [42][2].

Investment Rating - The mechanical equipment sector is rated as "stronger than the market" [3] Core Insights - The AI-driven intelligent manufacturing sector is experiencing a significant turning point, with cross-industry players accelerating their entry due to comprehensive technological reserves and ecosystem collaboration capabilities [3][10] - The report highlights the robust growth potential in the mechanical equipment sector, driven by technological advancements and policy support, particularly in the fields of robotics, AI, and renewable energy [3][25] Summary by Sections 1. Mechanical Equipment Sector Adjustment - The mechanical equipment sector saw a decline of 2.43% this week, while the Shanghai and Shenzhen 300 index fell by 2.22%, ranking 22nd out of 31 sectors [3][10] - The engineering machinery segment led the gains with an increase of 3.67%, followed by building equipment and rail transit equipment [3][10] 2. AI and Intelligent Manufacturing - The mechanical industry is steadily growing with diverse application prospects, supported by new algorithms and computing power [25] - Major companies are investing heavily in AI infrastructure, with Alibaba announcing a 380 billion yuan investment over three years [3][25] 3. Semiconductor Equipment - Samsung and Yangtze Memory Technologies reached a patent agreement for hybrid bonding technology, which will be used in the next generation of NAND flash memory [31] - Intel has begun using ASML's first two High-NA EUV machines, which significantly enhance production efficiency [33] 4. Renewable Energy Equipment - The report notes a strong demand for new energy vehicles and a recovery cycle for lithium battery equipment [3][34] - A significant wind power project was announced, with a total scale of 800MW, indicating robust growth in the wind energy sector [37] 5. Robotics and Automation - The report emphasizes the emergence of humanoid robots and their applications, with companies like Xiaomi and Chery actively developing their robotics capabilities [3][30] - Innovations in robotics, such as the G1 robot's ability to learn any action, showcase advancements in motion control and learning capabilities [30]

Core Viewpoint - The industry consensus on the timeline for solid-state battery deployment has converged to 2027 for small-scale production and 2030 for large-scale commercialization, indicating a clearer technological roadmap and increased demand for lithium resources and equipment [1][2][11]. Group 1: Solid-State Battery Deployment Expectations - Leading battery manufacturers and experts have indicated that solid-state batteries are expected to begin small-scale production by 2027, with large-scale commercialization anticipated by 2030 [2]. - The convergence of expectations suggests a clearer technological path, transitioning from single sulfide to mixed sulfide and halide materials, which will drive demand for lithium battery equipment and resources [2]. Group 2: Materials Sector - The materials sector is expected to develop along two main lines: the establishment of new solid-state electrolyte routes and the shared materials benefiting from the solid-state battery industry [3][4]. - The solid-state electrolyte routes are likely to stabilize, with a focus on sulfide materials by major players like CATL and BYD, while conductive agents and silicon anodes are projected to see increased usage in solid-state batteries [4]. Group 3: Equipment Sector - The lithium battery equipment sector is showing signs of recovery, with expectations for a dual rebound in orders and performance by 2025 as major manufacturers ramp up production capacity [5][6]. - The transition to solid-state battery manufacturing is expected to drive new investment in equipment, particularly as the industry prepares for significant advancements in production technology [6]. Group 4: Resource Sector - The demand for zirconium, a key raw material for oxide electrolytes, is projected to increase significantly, with expectations of reaching 78,000 tons by 2030, which is 395 times the demand in 2023 [7]. - The industrialization of sulfide and lithium metal anodes is expected to double lithium consumption, with significant advancements in production capabilities being reported [7]. Group 5: Future Events in the Solid-State Battery Industry - Major events in 2025 include the unveiling of Hyundai's solid-state battery production line and the Shanghai Auto Show, which are anticipated to be key platforms for solid-state battery developments [8]. - The introduction of new models featuring semi-solid-state batteries by SAIC's MG brand is expected to occur in Q2 2025, potentially marking a significant milestone in the commercialization of semi-solid-state battery technology [8].

近日，三一重卡与亿纬锂能2025年战略研讨会在惠州正式举行，双方聚焦新能源商用车市场， 围绕市场需求、技术趋势、产品迭代与质量、海外规划与服务等关键议题展开深入交流。 据悉，三一重卡和亿纬锂能已携手连续两年举办战略研讨会，此次会上双方还签订了战略合作 协议。 根据战略协议，双方将在新能源商用车领域开展全面合作，依托三一重卡在商用车领域的深厚 积累以及亿纬锂能在新能源电池制造与研发方面的技术优势，实现强强联合，共同推动商用车 绿色转型，引领新能源商用车行业实现更高质量发展。 据介绍，三一重卡隶属三一集团，是三一集团推进实体经济和互联网深度融合的智能制造项 目，也是三一集团数字化和智能化转型的先行者。三一重卡本着"量产一代、在研一代、储备 一代"的理念，持续快速进行质量提升和产品升级迭代，依托行业领先的研发制造力量布局新 能源重卡，为客户提供一体化解决方案。 亿纬锂能是最早的商用车电池研发制造企业之一，自2015年起便开始深耕商用车领域，积极推 动客车、物流车、重卡、工程机械向电动化全面转型。目前在商用车领域的装机量位居全球前 列。 产品方面，亿纬锂能在2024年5月针对性推出商用车电池品牌——开源电池，兼具充电 ...

活动主题： 聚集新 技术 探索新工艺 主办单位： 起点锂电、起点研究院（SPIR） 活动时间： 2025年2月28日 活动地点： 深圳宝安登喜路国际酒店2楼国际厅 活动规模： 500+人 全球化战略下，国内锂电产业链从产品、技术、供应链到资本等各要素推进出海。继动力电池 龙头宁德时代奔赴港交所IPO后，锂电设备龙头先导智能也加快推进上市进程。 2月25日，先导智能向港交所递交上市申请。中信证券和摩根大通为联席保荐人。 倒计时2天 2025起点锂电圆柱电池技术论坛 暨圆柱电池20强排行榜发布会 | 眉瓣 的[编纂]數目 | | :「编纂]股H股(視乎[编纂]行使與否而定) | | --- | --- | --- | | [編纂]數目 | . . | [编纂]股H股(可予重新分配) | | [編纂]數目 | | :「编纂]股H股(可予重新分配及视乎[编 | | 纂]行使與否而定) | | | | 最高[编纂] : 每股H股[编纂]港元,另加[1.0]%經 | | | | 紀佣金、[0.0027]%證監會交易徵 | | | | 費、[0.00565]%香港聯交所交易費及 | | | | [0.00015]%會財局交 ...

倒计时10天 2025起点锂电圆柱电池技术论坛 暨圆柱电池20强排行榜发布会 活动主题： 聚集新 技术 探索新工艺 主办单位： 起点锂电、起点研究院（SPIR） 活动时间： 2025年2月28日 活动规模： 500+人 近年来，锂电产业结构性产能过剩、扩产退潮，国内锂电设备验收节奏放缓、下游客户需求下降及企业降本压力传导，设备企业面临不小困 境。 但同时，在智能制造、极限制造理念下，锂电产线"掀动"效率革命。产线优化升级为不少设备企业带来新的机遇。 此外，大圆柱电池产业化正催生新的设备需求。据起点研究院(SPIR)统计，2024年1-9月全球圆柱电池出货量达到115亿只，其中32/40/46系等 大圆柱电池增速超50%。 且据起点锂电调研，全极耳圆柱电池会是不少头部企业2025年产线改造、新增产能的重点方向。 面对行业周期困境，作为锂电设备行业的先驱和领军者，华冠科技正迎面而上，展现出向上的韧性和决心。据 华冠科技总经理程聪 透露，得益 于战略方向和产品服务紧跟技术发展方向，24年公司销售订单相比23年稳步增长，装配线和模组PACK线成为公司新的业务增长点。 01 活动地点： 深圳宝安登喜路国际酒店2楼国际厅 ...

22002255起起点点锂锂电电圆圆柱柱电电池池技技术术论论坛坛 本次活动，诚捷智能将重点宣传圆柱电芯卷绕机（CJ-1865)以及大圆柱卷绕机(CJ-4680)。 圆柱电芯卷绕机（CJ-1865) 产品优势： 大圆柱卷绕机(CJ-4680) 1、采用最新一代的过辊防尘结构，提升设备稳定性； 2、卷绕变张力控制； 3、极片裁断精度，片长精度，OH精度等满足客户严苛的工艺要求，制程能力强； 4、极片超声波除尘可实现微米级除尘； 5、设备产能及良率达到头部友商设备水平。 暨暨圆圆柱柱电电池池2200强强排排行行榜榜发发布布会会 2025年2月28日，以" 聚集新技术 探索新工艺 "为主题的行业首届圆柱电池技术—— 2025起点锂电圆柱电池技术论坛暨圆柱电池20强排 行榜发布会 ，将在深圳宝安登喜路国际酒店正式举办，届时将邀请200+圆柱电芯及应用、300+电池材料设备配套企业共聚盛会，探索新市 场。 经活动组委会确认， 诚捷智能 作为 晚宴赞助商 重点支持本次论坛举办，同时将于现场发表主题演讲，敬请关注！ 企 业 介 绍 深圳市诚捷智能装备股份有限公司 创立于2007年，是一家专业制造锂电、超电行业全自动卷绕机等设 ...

Investment Rating - The report indicates a cautious investment rating for the machinery equipment sector, with a recent performance of -0.16% compared to the Shanghai Composite Index's increase of 1.19% [13]. Core Insights - The machinery equipment sector has shown a cumulative change of 10.36% over the past three months, outperforming the broader market [13]. - The robotics segment is highlighted for its potential advancements, particularly with the introduction of DeepSeek data distillation technology, which is expected to enhance training efficiency for humanoid robots [5][30]. - The semiconductor equipment sector is anticipated to benefit from optimistic capital expenditure forecasts from major wafer foundries, driven by AI supercycle demand [5][30]. - The new energy equipment sector is experiencing a recovery cycle, with strong demand for electric vehicles and lithium battery equipment [5][30]. Summary by Sections 1. Machinery Equipment Sector Adjustment - The machinery equipment sector has underperformed the market recently, ranking 27th out of 31 sectors [13]. - Six sub-sectors outperformed the market, with engineering machinery components leading with a 3.37% increase [13][20]. 2. AI and Intelligent Manufacturing - The report emphasizes the integration of new algorithms and computing power in shaping new dynamics in intelligent manufacturing [28]. - The introduction of humanoid robots by companies like Unitree Technology showcases advancements in robotics technology [28]. 3. Manufacturing Sector Differentiation - The report notes a significant differentiation within the manufacturing sector, with strong recovery signals in automation and high-end equipment [30]. - The semiconductor equipment market is projected to grow robustly, with a focus on domestic substitution processes [5][30]. 4. New Energy Equipment - The demand for new energy vehicles remains strong, with a reported 34% year-on-year increase in sales [5][30]. - The lithium battery equipment sector is entering a recovery phase, supported by favorable market conditions [5][30]. 5. Semiconductor Equipment - The semiconductor equipment sector is expected to see growth driven by optimistic capital expenditure forecasts from major players like SMIC [5][30]. - The report highlights the importance of domestic substitution in the semiconductor equipment market [5][30].