机械设备行业简评报告：工业母机再迎利好政策，未来景气度有望提升

Investment Rating - The industry investment rating is "Positive" [2][5]. Core Viewpoints - The Ministry of Industry and Information Technology issued a plan to enhance supply-demand matching efficiency for industrial mother machines, starting from July 2024 and lasting until the end of 2027 [2]. - The plan includes organizing precise supply-demand matching activities and establishing a "1+3+N" activity system to support various regions and industries [2]. - The China Machine Tool & Tool Industry Association reported a rapid increase in new orders for metal cutting machine tools, with a year-on-year growth of 8.1% in new orders for metal cutting machine tools in the first half of 2024 [2]. - The report suggests that the industrial mother machine industry is expected to benefit from favorable policies and the industry's own renewal cycle, recommending attention to companies like Huazhong CNC, Kede CNC, Niuwai CNC, and Haitian Precision [2]. Summary by Sections Policy Impact - The plan aims to create supply and demand lists to support the activities and improve efficiency between industrial mother machine companies and user enterprises [2]. - Key regions for the activities include Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta, Northeast, Central and Western regions, and major industrial provinces [2]. Market Performance - In the first half of 2024, the revenue of key enterprises in the machine tool industry decreased by 3.0% year-on-year, while the total profit fell by 9.2% [2]. - New orders for metal processing machine tools increased by 4.1% year-on-year, with a notable growth in metal cutting machine tools [2]. Investment Recommendations - The report anticipates further favorable policies for the industrial mother machine industry and suggests focusing on specific companies that are likely to benefit from these developments [2].