| | | | 8-1700.000 | (1) / 10 / 10 | (2)23 (1)11)68 | (1) The Proper C | | --- | --- | --- | --- | | | 公式F-1 - 100% | AND FOR 400 BLOGS. | CONTRACTORIAL | | 原一个行业用 | 中国政府官方法人为最重要的意见的主题。但是第30年度的人物流程。在此次的第一次的第一次的第一次的第一次的主要 | | | | | 安发大增长事不能十50% | KODAME NATION .. | DRANGE FOR THE FOR | | 第二个在线新 | 不同意见的全身的意见。在我们的意见的方面的是有意见人为感情，如果而言。在公司的两年的家庭人力而意。如果可靠 | | | | | 632人物长事天上干解版。 | 0/2/2 | 002 AM C R 1-80 - 1-500 | | 原定个手机械 | (1)20%年度在这人为基础。309年国 12分目 305年年度成人为基隆,303年度 12月 03:30年目标准 2.5%和 309年日 | | | | | 200 人間投票不能 ...

Investment Rating - The report maintains a "Recommended" rating for the mechanical industry, emphasizing the importance of focusing on companies with long-term competitive advantages and the implementation of robotics in various scenarios [2][7]. Core Insights - The mechanical industry is expected to enter a new recovery cycle due to increased monetary and fiscal policies, with a focus on domestic demand stimulation [7]. - The report highlights the shift of humanoid robots from product development to customer acquisition and the critical phase of commercial implementation, particularly in sectors like automotive manufacturing and intelligent logistics [7]. - Investment suggestions include focusing on companies in the industrial control sector, robotics, machine tools, cutting tools, testing, engineering machinery, and logistics equipment [7]. Summary by Sections Key Company Earnings Forecasts, Valuation, and Investment Ratings - Companies such as 汇川技术 (Inovance Technology), 法兰泰克 (Flantech), and 信捷电气 (Xinjie Electric) are rated as "Strong Buy" with projected EPS growth from 2.12 to 3.01, 0.60 to 0.94, and 1.83 to 2.78 respectively from 2025E to 2027E [3][8]. - The report provides a detailed earnings forecast and valuation metrics for various companies, indicating strong growth potential in the mechanical sector [3]. Industry and Company Investment Views - The report discusses the precision reducer market, which is expected to reach a scale of 9.1 billion yuan in 2024, with domestic companies increasing their market share [21][22]. - The report identifies three major downstream application scenarios for precision reducers: industrial robots, high-end machine tools, and humanoid robots, highlighting the growth potential in these areas [23]. - Companies like 博众精工 (Bozhong Precision) are noted for their multi-track business layout and significant revenue growth, with a projected CAGR of 11.94% from 2018 to 2024 [27][29]. Key Data Tracking - The report includes macroeconomic data, such as the manufacturing PMI index and fixed asset investment growth rates, which are crucial for understanding the industry's performance [34][35]. - It also tracks the monthly sales of excavators and forklifts, providing insights into the demand trends within the mechanical sector [41][42].