According to the research reports of Haitong Securities, we should pay attention to the bottom marginal changes and the global competitive sectors, and focus on four clear main lines. 1) Construction machinery: The counter-cyclical policies are gradually being implemented and are expected to drive the industry to bottom out and rebound; 2) Rail transit equipment: certainty repair, the bid volume of EMUs has exceeded the whole year of 23, and leading companies such as China Railway Signal & Communication Corporation and CRRC Corporation have won large orders, waiting for locomotive bids in the future; 3) General equipment: the injection machine, forklift and other sectors have presented a good repair trend, and we are waiting for bottoming out in machine tool cutting tools, industrial gas, inspection and testing, and industrial robots.