Core Viewpoint - The industrial machinery sector in China is experiencing significant growth, particularly in the excavator market, with strong sales figures and a positive outlook for high-tech manufacturing and AI infrastructure. Group 1: Market Performance - As of January 14, 2026, the Shanghai Stock Exchange Sci-Tech Innovation Board Industrial Machinery Index rose by 1.12%, with notable increases in stocks such as Zhongkong Technology (up 10.04%), Aike Saibo (up 8.49%), and Xinqi Micro (up 8.43%) [1] - In December 2025, a total of 23,095 excavators were sold, marking a year-on-year increase of 19.2%, with domestic sales of 10,331 units (up 10.9%) and exports of 12,764 units (up 26.9%) [1] Group 2: Sales Data - For the entire year of 2025, a total of 235,257 excavators were sold, representing a year-on-year growth of 17%, with domestic sales of 118,518 units (up 17.9%) and exports of 116,739 units (up 16.1%) [1] Group 3: Manufacturing Insights - According to CICC analysis, the manufacturing PMI rose to 50.1% in December 2025, indicating an expansion phase, particularly in high-tech manufacturing (52.5%) and equipment manufacturing (50.4%) [1] - The AI infrastructure chain is expected to maintain high prosperity, with PCB equipment entering a new cycle of innovation and expansion, driven by increased computing power demand and the release of NVIDIA's Rubin series, which enhances the value of single-card PCBs [1] Group 4: ETF and Weighting - As of December 31, 2025, the top ten weighted stocks in the Sci-Tech Innovation Board Industrial Machinery Index accounted for 46.56%, including Zhongkong Technology, Green Harmonics, and others [2] - The Sci-Tech Machinery ETF (588850) closely tracks the Industrial Machinery Index, focusing on investment opportunities in urban rail equipment, industrial automation, and construction machinery [2]

Group 1 - The core viewpoint of the news highlights the growth in China's engineering machinery exports, which reached $48.57 billion from January to October 2025, marking a year-on-year increase of 12% [1] - The domestic market shows promising trends, with excavator sales increasing by 13.9% and loader sales by 32.1% in November, driven by the construction peak season and overseas channel replenishment [1] - The industry is expected to continue its positive trajectory due to domestic renewal demand, the trend towards electrification, and growth in emerging overseas markets [1] Group 2 - The top ten weighted stocks in the Sci-Tech Innovation Board Industrial Machinery Index account for 46.01% of the index, indicating a concentrated investment landscape [2] - The Sci-Tech Machinery ETF (588850) closely tracks the Industrial Machinery Index, focusing on investment opportunities in urban rail equipment, industrial automation, and engineering machinery [2]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Industrial Machinery Index rose by 1.58%, with significant gains from stocks such as Liyuanheng (+7.44%), Jieput (+6.58%), and Bolite (+5.38%) [1] - In October, domestic sales of construction machinery showed positive performance, with excavator sales experiencing a slowdown due to inventory impacts, while non-excavator machinery maintained high growth levels [1] - Export trends in October continued to improve, with excavator sales reaching 9,628 units (+12.9% YoY), loader sales at 5,301 units (+22.6% YoY), roller sales at 741 units (+27.8% YoY), paver sales at 40 units (+48.1% YoY), crawler crane sales at 239 units (+79.7% YoY), and truck-mounted crane sales at 379 units (+59.2% YoY) [1] Group 2 - The Pacific Securities report suggests that with funding gradually in place, the commencement of the Yarlung Tsangpo River major water conservancy project, and favorable policies in real estate and infrastructure, the industry is expected to perform well due to improved demand and the initiation of the machinery replacement cycle [2] - As overseas economic conditions improve, particularly in mining capital expenditures, demand for mining machinery is expected to rise, with domestic manufacturers likely to expand into international markets under the Belt and Road Initiative [2] - As of October 31, 2025, the top ten weighted stocks in the Shanghai Stock Exchange Sci-Tech Innovation Board Industrial Machinery Index accounted for 45.42% of the index, including companies like Zhongkong Technology and Daotong Technology [2] - The Sci-Tech Machinery ETF (588850) closely tracks the Shanghai Stock Exchange Sci-Tech Innovation Board Industrial Machinery Index, focusing on investment opportunities in urban rail equipment, industrial automation, and construction machinery [2]

Group 1 - A-shares experienced a collective rebound on August 4, with major indices rising, particularly the Sci-Tech Innovation Board, which led the recovery [1] - The Shanghai Composite Index rose by 0.66%, the ChiNext Index increased by 0.50%, and the Sci-Tech Innovation Comprehensive Index surged by 1.45% [1] - The trading activity of the "Jia Shi Sci-Tech All-in-One" ETF remained active, with the Sci-Tech Chip ETF (588200) achieving a daily increase of 2.01% and a total trading volume of 1.645 billion yuan [1] Group 2 - Most brokerages believe that the recent market correction following new highs should not alter the fundamental judgment of the current market trend, as the core logic supporting the rally remains intact [2] - Specific sectors to watch include those focused on anti-involution policies, the pharmaceutical sector benefiting from policy stimulation and improved industry chain conditions, and technology sectors driven by AI and emerging industry trends [2] - Jia Shi Fund has developed a comprehensive "Sci-Tech All-in-One" series, which includes a range of ETFs targeting both broad-based and high-growth sectors, facilitating investors' choices based on their risk-return preferences [2]

Group 1 - The Sci-Tech Machinery ETF (588850) has turned positive after previously dropping over 8%, currently showing a slight increase of 0.09% [1] - The trading volume for the ETF is reported at 90,600 yuan [1] - Investors can directly purchase shares of the Sci-Tech Board without needing a minimum investment of 500,000 yuan [1]