The meeting on December 9, 2024, set a positive tone for the overall economy, explicitly stating that next year will "implement a more proactive macro policy," and proposed to "greatly boost consumer spending, improve investment efficiency, and comprehensively expand domestic demand."

It is necessary to lead the development of new quality productive forces through Technology innovation and to build a modern industrial system.

According to Wind statistics, since the release of the financial policy "combination punch" on September 24 up to the press release, a total of 1,169 institutions have conducted 3,210 research activities involving 407 A-share listed companies.

Among them, Beijing Roborock Technology, Beijing Egova, New Journey Health Technology Group, and 5 other companies have all garnered the favor of more than a hundred institutions. From the content of the research, institutional investors' focus is on the company's "science and technology content." For example, Huichuan Technology received 5 rounds of institutional research, with the content focused on the company's six-joint robot expansion pace, industrial automation, and new energy vehicle business investments in cutting-edge technologies.

According to Zhito Finance APP, institutional research believes that the tune of improving investment efficiency + comprehensively expanding domestic demand will fully benefit the industrial automation sector:

1) Stock replacement market: The Politburo meeting proposed "improving investment efficiency," and institutions believe the most direct and effective way is to automate production line transformations, coupled with the gradual implementation of the "two new" policy details since 2024, activating the demand for equipment updates in manufacturing enterprises.

2) Incremental expansion market: Under the policies of 'boosting Consumption' and 'comprehensively expanding domestic demand', terminal consumption demand is expected to continue or warm, and related companies may expand production leading to increased equipment demand.

Industrial Securities released a research report stating that process industry automation is one of the important scenarios in industrial automation. In recent years, capital expenditure has been strong in downstream industries such as petrochemicals and chemicals, and it is expected that related capital expenditure intensity will be maintained this year. Emerging industries like New energy and New Materials are developing rapidly, leading to continuous expansion in the industry. Domestic leading companies are continuously breaking through in technology, and products are progressively advancing towards intelligence and the integration of software and hardware, with the acceleration of domestic substitution and industry consolidation.

Hong Kong stocks related to industrial automation:

Innovative Intelligent (02121): Starting from 2023, the company will implement dual tower development of AI1.0 and AI2.0, with AI2.0 gradually launching the application landing and pre-research of the ChatX series of vertical large models, and at the end of March this year, released the AnnoGC-75B industrial large model (75 billion parameters), which adds multi-modal capabilities based on the 15B large model. Currently, ChatX includes five main landing products: ChatBI, ChatDoc, Chatvision, ChatCAD, and ChatRobot. The company’s nine sub-fields cover industrial software, digital intelligence software, industrial logistics, intelligent equipment and sustainability in industries. ChatBI has already achieved scale in the food and beverage manufacturing sector for industrial software and digital intelligence scenarios, while ChatDoc and Chatvision have achieved scale in sustainable industry scenarios. ChatCAD has greater imaginative space in the field of CAD industrial design, able to rewrite traditional CAD design models through large models, allowing CAD design to be conducted directly via text and language, significantly improving CAD design efficiency. It is expected that this year, the company will begin the practical work of ChatCAD. ChatRobot is driven by large models for the automatic task arrangement of industrial robots, driving and implementing work deployment. The company has already conducted live demonstrations at the large model release conference, and although it is still in the research and verification phase, it already has preliminary prospects for industrial application, showing great potential.

Shanghai Electric Group (02727): On October 18, Shanghai Electric Group announced that it plans to acquire 100% equity in Shanghai Ningsheng Industrial Co., Ltd. held by its controlling shareholder, Electric Holdings, for 3.082 billion yuan, thus obtaining 50% equity in Shanghai Fanuc Robot Co., Ltd., fully advancing into the field of intelligent robots and attracting market attention. Shanghai Electric's acquisition plan is a key step in the integration of assets under Shanghai State-owned Assets. 'In the future, through the collaborative development of the “three driving forces,” Shanghai Electric will create a second growth curve.' In discussing the considerations behind the merger and acquisition case, Shanghai Electric’s Executive Vice President Dong Jianhua mentioned that Shanghai Electric is committed to extending its business from the traditional field of industrial robots to special robots and intelligent robots, forming an industry pattern of collaborative development among the three driving forces.