东吴证券指出，2025年长沙国际工程机械展览会签订年度采购协议超130亿元，国内主机厂新品聚焦大 型化、电动化、智能化，依托锂电及智驾产业链优势，中国品牌在电动化和智能化布局大幅领先，有望 实现弯道超车。4月挖机出口同比增长19.3%，海外需求边际改善，长期看好工程机械出海逻辑。通用 自动化板块2024年呈现量增价减竞争加剧状态，除注塑机行业受益3C&家电资本开支上行与出口加速 外，利润端表现弱于营收端。 工业母机ETF（代码：159667）跟踪的是中证机床指数（代码：931866），该指数由中证指数有限公司 编制，从沪深市场中选取主营业务涉及机床整机及其关键零部件制造的上市公司证券作为指数样本，以 反映机床行业相关上市公司证券的整体表现。成分股覆盖了机床制造及相关产业链的核心企业，具有显 著的行业集中度和技术代表性。 没有股票账户的投资者可关注国泰中证机床ETF发起联接A（017471），国泰中证机床ETF发起联接C （017472）。 注：指数/基金短期涨跌幅及历史表现仅供分析参考，不预示未来表现。市场观点随市场环境变化而变 动，不构成任何投资建议或承诺。文中提及指数仅供参考，不构成任何投资建议，也不构成 ...

Group 1 - The core viewpoint of the article highlights the recovery of the industrial mother machine sector, driven by policy support for domestic demand and export optimization, with the Industrial Mother Machine ETF (159667) rising over 2% [1] - The 19th China International Machine Tool Exhibition will open on April 25, 2025, in Beijing, focusing on the application of digital twin and artificial intelligence technologies in the machine tool industry, with companies like Renishaw showcasing high-precision measurement and automation solutions [1] - According to招商证券, the mechanical equipment industry (automation and general equipment) is experiencing a sustained recovery in domestic demand and an optimized export structure, with new market shares increasing [1] Group 2 - Investment in equipment tools has seen a cumulative year-on-year increase of 19% as of March, with the rolling year-on-year growth rates for metal forming, cutting machine tools, and packaging equipment production expanding [1] - The export share of general equipment to emerging markets like ASEAN has generally increased, following a period of market decline due to tariff impacts, with future growth expected alongside the implementation of stable growth policies [1] - The Industrial Mother Machine ETF (159667) tracks the CSI Machine Tool Index (931866), which selects listed companies involved in the manufacturing of machine tools and key components, reflecting the overall performance of the machine tool industry [1]