电感编码器量产进展不及预期、人形机器人厂商量产不及预期、假设条件变化影响测算 结果。 机械设备行业 行业研究 | 动态跟踪 国家/地区 中国 行业 机械设备行业 报告发布日期 2026 年 01 月 16 日 看好（维持） 电感编码器性能卓越，机器人应用打开长 期空间 ——装备新科技挖掘 核心观点 投资建议与投资标的 ⚫ 人形机器人量产将带来编码器市场空间扩展，相关零部件厂商有望受益，相关标的 包括汇川技术(300124，未评级)、信捷电气(603416，未评级)、鸣志电器(603728， 未评级)。 风险提示 杨震 执业证书编号：S0860520060002 香港证监会牌照：BSW113 yangzhen@orientsec.com.cn 021-63326320 | 从 CES 看，简单量产叙事将边际变弱， | 2026-01-10 | | --- | --- | | AGI 叙事将边际变强：——机器人产业跟 | | | 踪 | | | TPU 材料性能优势明显，有望广泛应用于 | 2026-01-10 | | 人形机器人：——装备新科技挖掘 | | | 挖机12月销量加速，26年持续增长的确定 | 20 ...

Core Viewpoint - The article emphasizes the resurgence of the aerospace sector as a leading investment theme in the A-share market, highlighting significant developments and market reactions related to space technology and companies involved in this industry [1]. Group 1: Aerospace Sector Developments - The aerospace sector has regained its status as a market leader, with nearly 50 stocks in this sector hitting the daily limit up [11]. - Key events include the upcoming launch of the "Vesta-1 Sea Launch" commercial rocket by Xinhai Power and the construction of China's first offshore reusable rocket production base by Arrow Yuan Technology [11][15]. - The market is reacting positively to the news that SpaceX will begin factory inspections in mid-January, which is expected to boost interest in space photovoltaic concepts [11]. Group 2: Market Performance and Trends - The A-share market experienced a slight decline, with the Shanghai Composite Index down 0.07% and total market turnover at 28,265.33 billion yuan, a decrease of 552.34 billion yuan from the previous day [11]. - Despite the overall market decline, the aerospace sector saw significant investment, with stocks like Jun Da Co. and Maiwei Co. reaching their daily limit up [11]. - The article notes a strong interest in the space photovoltaic concept, particularly in perovskite battery technology, which is viewed as a promising route for future developments [11][4]. Group 3: Regulatory and Industry News - A recent meeting involving the State Administration for Market Regulation addressed monopoly risks in the photovoltaic industry, leading to a drop in the main contract for polysilicon [6]. - The meeting included major players in the photovoltaic sector, indicating a regulatory focus on ensuring fair competition and compliance within the industry [6]. Group 4: Investment Sentiment and Capital Flows - The net inflow of capital into the defense and military industry was the largest among sectors, with significant investments in companies like Yanshan Technology and Aerospace Electronics [22]. - The article highlights the growing enthusiasm for domestic chip concepts and the active participation of various sectors in the market, reflecting a shift in investor sentiment towards technology and innovation [11][22].