有券商表示，随着设备更新和增量政策效果逐渐落地，叠加机床更新周期持续，机床下游需求有望逐渐复 苏，推动机床企业经营业绩改善。因此，看好制造业复苏和设备更新带来的机床行业需求好转，建议关注 机床行业细分领域龙头。 每日经济新闻 每经记者：叶峰 每经编辑：肖芮冬 机床概念股走强，绿的谐波涨超7%，创世纪涨超3%，汇川技术、柏楚电子涨超2%。 受盘面影响，工业母机ETF、机床ETF涨近2%。 ...

（文章来源：每日经济新闻） | 代码 | 名称 | 现价 | 涨跌 涨跌幅 | | | --- | --- | --- | --- | --- | | 159663 | 机床ETF | 1.496 | 0.044 | 3.03% | | 159667 | 工业母机ETF | 1.514 | 0.045 | 3.06% | 有券商表示，随着设备更新和增量政策效果逐渐落地，叠加机床更新周期持续，机床下游需求有望逐渐复苏，推动机床企业 经营业绩改善。因此，看好制造业复苏和设备更新带来的机床行业需求好转，建议关注机床行业细分领域龙头。 机床概念股走强，华工科技涨超6%，大族激光、厦门钨业、绿的谐波涨超3%。 受盘面影响，机床ETF、工业母机ETF涨超3%。 ...

根据MIR预测，从2024年到2028年，丝杠市场品牌格局将继续向国产倾斜，内地品牌市占率将提升至近 50%左右。我国电主轴市场正处于迅速发展阶段，根据华经产业研究院的数据，2024年，我国电主轴行 业市场规模达到56.77亿元，同比增长7.4%。 金融街证券表示，数控机床作为高端制造的基础设备，具有高度敏感性，高档数控机床的技术瓶颈已经 成为中国制造提质增效的"卡脖子"问题。近年来中国金属切削机床的产量呈现稳中有升的态势，"十五 五"规划建议提出，采取超常规措施，全链条推动集成电路、工业母机、高端仪器等重点领域关键核心 技术攻关取得决定性突破。 12月22日上午，A股三大指数集体上涨，上证指数盘中上涨0.58%，贵金属、通信设备、电子元器件等 板块涨幅靠前，教育、工程机械跌幅居前。机床板块走强，截至10点38分，机床ETF（159663）上涨 2.41%，其成分股国机精工上涨9.99%，鼎泰高科上涨9.03%，中钨高新上涨6.41%，华工科技上涨 5.31%，浙海德曼上涨4.20%。 （文章来源：每日经济新闻） ...

华龙证券表示，结合国内"十五五"规划将工业母机列为超常规攻关重点，以及中试平台建设等产业政策 的大力支持，内外双重动能正共同推动国产高端机床的突破与产业化。在此背景下，建议重点关注那些 在核心部件上具备自研能力、产品线已覆盖高端领域、并能受益于全球资本开支回升的龙头企业。 机床ETF（159663），紧密跟踪的中证机床指数，涵盖了我国制造业产业链中的关键一环——高端装备 制造领域，涉及激光设备、机床工具、机器人、工控设备等行业，是新质生产力理念强调创新驱动与产 业升级落地实践的核心阵地。其场外联接基金为，A类：017573；C类：017574。 12月18日上午，A股三大指数走势分化，上证指数盘中上涨0.09%，基础化工、石油石化、轻工制造等 板块涨幅靠前，电力设备、非银金融跌幅居前。机床板块个股分化，截至10:09，机床ETF （159663.SZ）下跌0.41%，其成分股华辰装备上涨7.75%，英威腾上涨4.96%，山东威达上涨3.77%。然 而，鼎泰高科、海目星等表现不佳，其涨跌幅分别是-5.77%、-3.36%。 日本机床订单总额连续五个月实现增长，其中海外订单同比大幅增长，北美、中国及印度等市场在新 ...

Core Insights - The report emphasizes a defensive investment strategy, suggesting to wait for better timing to enter the market as adjustments increase [6] - The mechanical industry is projected to achieve stable growth in 2025, reflecting the enhancement of China's manufacturing capabilities, with a focus on mid-cap blue-chip stocks that show potential for both stable growth and technological advancement [6] - The "ice and snow economy" is evolving from a niche seasonal activity into a vibrant trillion-yuan industry, with significant regional developments and policy support [6] Market Strategy - The market is experiencing a rebound that faces resistance, with participants adopting a more conservative mindset as trading willingness decreases [6] - It is advised to focus on mid-cap blue-chip stocks in sectors with improving marginal demand, particularly in advanced manufacturing and electronics [6] - Relevant ETFs include the CSI Cash Flow ETF and various sector-specific ETFs [6] Industry Strategy - The mechanical industry is expected to maintain steady demand growth into 2026, with an increasing importance of technological empowerment [6] - Key areas for investment include lithium battery equipment, industrial mother machines, oil and gas equipment, and engineering machinery [6] - Recommended stocks include CIMC Vehicles and Hangcha Group, with associated ETFs for further investment options [6] Thematic Strategy - The ice and snow economy is characterized by a shift from northern regional activities to a nationwide resonance, with southern regions developing large indoor ski facilities [6] - There is a growing trend of integrating local cultural elements into winter sports, supported by government policies aimed at promoting the ice and snow economy [6] - Relevant ETFs for this sector include tourism ETFs [6]

12月5日早盘，A股三大指数集体下跌，上证指数盘中下跌0.24%，有色金属、国防军工、通信等板 块涨幅靠前，房地产、电子跌幅居前。机床板块个股活跃，截至9:48，机床ETF（159663.SZ）上涨 0.14%，其成分股禾川科技上涨3.49%，中钨高新上涨3.28%，鼎泰高科上涨2.8%，日发精机上涨 2.66%，厦门钨业上涨2.02%。 2025年1-10月，机床工具全行业完成营业收入8511亿元，同比增长1.5%。其中，金属切削机床分行 业同比增长10.8%，金属成形机床分行业同比增长7.5%。金属加工机床新增订单同比增长7.3%，在手订 单同比增长4.3%。全国规模以上企业金属切削机床产量71.5万台，同比增长14.8%；金属成形机床产量 14.6万台，同比增长8.1%。 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 机床ETF（159663），紧密跟踪的中证机床指数，涵盖 ...

Core Viewpoint - The A-share market experienced a collective decline on December 4, with the Shanghai Composite Index down by 0.19%, while the machine tool sector showed strength, indicating potential investment opportunities in this area [1][3]. Group 1: Market Performance - On December 4, the A-share market saw all three major indices decline, with the Shanghai Composite Index falling by 0.19% [1]. - The machine tool sector performed well, with the machine tool ETF (159663) rising by 0.43% [1]. Group 2: Machine Tool Industry Insights - The China Machine Tool Industry Association reported that from January to October 2025, the total import and export value of machine tool products reached $27.42 billion, a year-on-year increase of 5.7% [3]. - The import value was $8.48 billion, up by 1.4%, while the export value was $18.94 billion, increasing by 7.7% [3]. - For metal cutting machine tools, imports were valued at $3.95 billion (up 0.6%), and exports were $5.1 billion (up 13.6%) [3]. - Metal forming machine tool imports decreased by 9.8% to $0.52 billion, while exports surged by 38.2% to $2.8 billion [3]. - Huaylong Securities noted that the current industry exports are outperforming domestic demand due to global supply chain restructuring and industrialization needs in emerging markets [3]. - The report suggests focusing on companies with core technological breakthroughs, strong international capabilities, and those that can quickly respond to and serve small and medium enterprises [3].

Group 1 - The core viewpoint is that the CNC machine tool market in China is experiencing rapid growth driven by downstream demand, with a projected market size of approximately 432.5 billion yuan in 2024 and expected to exceed 450 billion yuan by 2025 [1] - The domestic production rate of high-end CNC machine tools is only 6%, indicating significant room for domestic production growth in this segment [1] Group 2 - Increased policy support is expected to boost equipment demand, particularly with infrastructure investments, such as the commencement of the Yaxia hydropower project, which will drive demand for large excavators and other equipment [2] - The internationalization, electrification, and intelligentization processes are advancing, with electric loader sales increasing by 157.2% year-on-year, and intelligent applications like unmanned forklifts and mining equipment are anticipated to break through first [2] - The nuclear fusion industry is entering a phase of capital expenditure expansion, focusing on high-value components such as magnet systems, vacuum chambers, and power systems [2] - The low-altitude economy policy emphasizes safety, health, and high-quality development, with a positive outlook on infrastructure construction and low-altitude equipment research and application [2]

Core Insights - The report indicates that the market is experiencing a "rebalancing," with funds flowing from previously high-performing technology sectors to relatively undervalued sectors such as resources, consumption, and manufacturing [8] - The short-term rebound in the technology growth sector is limited due to overhead pressure and a lack of investor interest, while some industries like non-bank financials and steel show improved capital returns [8] - The food and beverage industry is expected to have short-term opportunities and mid-term performance improvements driven by supply-side factors, focusing on companies that can expand market share and optimize customer resources [8] Market Strategy - The market is likely to maintain a volatile pattern, suggesting investors should consider reallocating to sectors that will benefit from marginal improvements in economic conditions next year [8] - Key ETFs mentioned for potential investment include the CSI 500 ETF and CSI 1000 ETF [8] Sector Strategy - The food and beverage sector is highlighted for its potential, with specific recommendations for companies like Yili (伊利股份) and Salted Fish (盐津铺子) due to their market positioning and growth strategies [8] - The report emphasizes the importance of identifying leading companies that can leverage competitive advantages during the current market conditions [8] Theme Strategy - The robotics industry is noted for its transition from demonstration to practical application, with significant advancements in technology and increased order volumes for companies like Linker Hand and the four-legged robot "Steel Coin" [8] - Relevant ETFs for the robotics sector include various options that focus on this emerging technology [8]

Group 1 - The A-share market experienced a collective decline on November 21, with the Shanghai Composite Index dropping by 2.07% [1] - The machine tool sector saw a significant downturn, with the machine tool ETF (159663.SZ) falling by 3.47%, and key stocks such as Jiangte Electric down by 10.03% [1] - Some individual stocks in the sector showed activity, with Weichuang Electric increasing by 3.25% and Sifangda rising by 0.91% [1] Group 2 - The "14th Five-Year Plan" emphasizes the importance of industrial mother machines as a key area for breakthrough development, with the Ministry of Industry and Information Technology advocating for the establishment of pilot platforms [3] - A series of policy measures are expected to significantly accelerate the technological breakthroughs and industrial application of domestic machine tools, particularly in high-end products like five-axis linkage and turning-milling composite machines [3] - Huolong Securities suggests that strong policy support and a structural recovery in global demand will likely expedite the high-end process of domestic machine tools, recommending focus on leading companies with self-research capabilities in core components [3]