Core Viewpoint - The mechanical industry is expected to have significant investment opportunities in the technology innovation sector by 2026, with structural opportunities arising from both domestic demand recovery and high export demand [2][5]. Group 1: Technology Innovation and AI Infrastructure - The AI infrastructure is expected to benefit from high capital expenditure and rapid technological iterations, leading to new opportunities in the mechanical sector. Overseas capital expenditure for computing power is exceeding expectations, driving demand for PCB equipment and AIDC [2][5]. - The next generation of chips, such as Rubin, may increase processing requirements for PCB, cold plates, and quick connectors, while also promoting new technologies like micro-channel liquid cooling, enhancing the value of equipment and consumables [2][5]. Group 2: Humanoid Robots - The humanoid robot industry is anticipated to accelerate by 2026, with a focus on leading companies expanding production. The period from 2022 to 2025 is seen as a transition from prototype to small-scale engineering, with 2026 potentially marking the year of mass production for Tesla [7]. - Attention should be given to the performance upgrades of domestic humanoid robots and the rapid development of application scenarios [7]. Group 3: Export Chain - The export chain should focus on sectors with global competitiveness, such as engineering machinery, hardware tools, motorcycles, and oil service equipment, which are expected to benefit from internationalization and reforms [3][12]. - The engineering machinery sector is seeing significant growth in exports, particularly in the U.S. due to the recent interest rate cuts, which are likely to boost demand [11]. Group 4: Specialized Equipment - Specialized equipment sectors are expected to experience turning points and technological changes, with a focus on areas like solid-state batteries and nuclear fusion, as well as segments like 3C equipment and coal machinery that are showing signs of recovery [3][15]. - The lithium battery equipment sector is projected to see a growth spurt, with domestic capital expenditure expected to maintain a growth rate of around 20% [16]. Group 5: General Cyclical Opportunities - The general cyclical sector is expected to see a bottoming out, with structural opportunities emerging in areas like machine tools, injection molding machines, and industrial gases, as demand recovers [13][14]. - The demand for industrial gases is expected to improve, although there may still be pressure on gas prices [14]. Group 6: 3C Automation Equipment - The 3C automation equipment sector is anticipated to enter a hardware innovation phase in 2026, driven by new product trends such as foldable screens and AI glasses [17].

Investment and Growth Strategy - The company is actively seizing market opportunities through a private placement to prepare for the "14th Five-Year Plan" and ensure revenue growth [2][3] - The focus is on emerging industries such as low-altitude economy, artificial intelligence, and satellite internet, enhancing technical investment and laboratory network [3] Competitive Advantages in Integrated Circuit Testing - The company achieved a revenue growth of 26.28% in 2024 in the integrated circuit testing sector, which is still in a rapid growth phase [4] - It holds a leading position in key areas like automotive power semiconductor ACE-Q certification, with a comprehensive quality evaluation and reliability enhancement service covering the entire product lifecycle [4][5] AI Chip Testing Capabilities - The company has developed a full lifecycle testing service for AI high-performance chips, equipped with over 300 specialized analysis devices [7] - It provides in-depth analysis of various failure situations in AI chips, supporting design optimization and production improvement [7] Commercial Aerospace Sector - The company has established eight technical platforms for commercial aerospace, covering advanced material evaluation, environmental adaptability testing, and quality assurance [8][9] - It is collaborating with industry partners to create joint laboratories and has developed a "4G IoT satellite communication integrated testing system" [9] Low-altitude Economy Focus - The company has built a comprehensive testing platform for aviation systems, addressing initial and continued airworthiness management requirements [10] - It offers a full lifecycle quality control consulting solution for manufacturers and suppliers in the aviation and low-altitude economy sectors [10] Special Industry Competitiveness - The company leads in metrology calibration, reliability testing, and electromagnetic compatibility testing, providing comprehensive lifecycle technical solutions [11] - It leverages its technical advantages and brand influence to achieve stable growth in order volume through market expansion strategies [11]