Soochow Securities recently released a weekly tracking report on the machinery and equipment industry, revealing investment opportunities and development trends in multiple industries for investors.
In the field of semiconductor equipment, the collective price increase of SK Hynix equipment manufacturers and the completion of Changxin IPO registration have brought new opportunities.
According to Korean media reports, SK Hynix has received price increase applications from multiple first-tier equipment suppliers and plans to increase supply prices by 3% – 4%.
SK Hynix is currently verifying the basis for price increases and conducting evaluations, and it is fully promoting production expansion. It plans to double its wafer production capacity within five years and triple its production capacity in 2034. Capital expenditures in 2026 will be significantly higher than last year. This has significantly increased the demand for upstream equipment procurement, ushering in a seller’s market for semiconductor equipment.
In addition, Changxin has completed its registration on June 12. We continue to be optimistic about the overseas opportunities for related equipment manufacturers and components. At the same time, the process of localization substitution is also accelerating.
Investment suggestions include semiconductor equipment manufacturers Northern Huachuang, China Microelectronics Corporation, Tuojing Technology, etc., as well as equipment parts Fuchuang Precision, Xinlai Materials, etc.
In terms of gas turbines, benefiting from the US AI data center and the transformation of the global energy structure, demand for gas turbines has surged.
Global gas turbine demand will exceed 100GW in 2025 and is expected to reach 117GW in 2026.
However, due to high manufacturing barriers, the supply of gas turbines is insufficient. In 2025, the global gas turbine supply will only be about 50-60GW. The delivery of orders from global leaders such as GEV and Siemens has been scheduled to 2030, facing a large supply and demand gap.
In order to speed up delivery, overseas leaders have begun to actively import domestic suppliers, including key components such as blades, large castings, and waste heat recovery. Domestic manufacturers are expected to fully benefit from the high business cycle and achieve a major breakthrough in replacing overseas exports.
Regarding the localization of the gas turbine industry chain, companies such as Jereh Electric and Shanghai Electric are recommended.
In the field of humanoid robots, at the Taipei GTC conference in early June, NVIDIA released the world’s first full-modal physical AI large model Cosmos3, promoting physical AI and attracting attention from the industry chain.
The large physical AI model can accurately simulate the multi-dimensional physical rules of mechanics, fluids, collisions, light and shadow, and provide empowerment for robots, autonomous vehicles, mechanical equipment, etc.
Multi-element resonance drives physical AI to an inflection point, including the gradual maturity of the model side. NVIDIA launched the first large physical AI model and established a developer alliance; the gradual maturity of the embodied intelligence hardware side. Taking Figure as an example, its humanoid robot has been able to complete package sorting tasks for a long time; under the construction of global computing power infrastructure, the price of computing power has gradually declined, promoting the possibility of physical AI model training.
It is recommended to pay attention to the core targets of humanoid robots such as Obi Zhongguang, Green Harmony, etc., as well as related companies on the industrial software side and simulation software side.
In terms of photovoltaic equipment, SpaceX went public on June 12 with an issue price of US$135 per share. It issued approximately 555.6 million shares and raised approximately US$75 billion. The funds raised will mainly be used to expand AI computing infrastructure and upgrade launch resources. The first batch of space computing stars will be deployed in 2028, and 100GW of commercial annual deployment will be achieved 30 years ago.
We believe that space photovoltaics are accelerating and equipment manufacturers will fully benefit.
The 100GW space + 100GW ground production capacity of major overseas customers is steadily advancing.
Investment advice focuses on recommending enterprises such as Maiwei Co., Ltd. and Jingsheng Electromechanical.
However, investors also need to pay attention to risks, including downstream fixed asset investment falling short of market expectations, industry cyclical fluctuation risks, geopolitical and exchange rate risks, etc.
