汇川技术 - 9 月工业自动化（IA）订单同比增速加快至 30% 以上

9 October 2025 | 6:53PM HKT Equity Research Shenzhen Inovance Technology Co. (300124.SZ): Sep IA orders growth accelerated to 30%+ yoy Inovance disclosed industrial automation (IA) segment orders at 30%+ yoy in Sep 2025 (vs. +20~30% yoy in Aug, or likely up by low-teens % mom per GSe), resulting in 3Q25 IA orders growing at ~25% yoy (vs. ~10% yoy in 2Q25) and clearly outperforming the broader China manufacturing FAI (-0.2%/-2.0% yoy in Jul/Aug). By end-markets, logistics equipment, semiconductors, wind powe ...