As of December 4th, Ping An Securities pointed out that the export performance of China's machinery equipment and automation equipment industry has been outstanding since 2025. Among them, power machinery and special industrial machinery within the machinery and transportation equipment category have driven export growth by 0.75 percentage points, an increase of 0.29 percentage points compared with 2024. Looking ahead to 2026, the industry's export growth rate is expected to maintain resilience, and domestic manufacturing investment has a bottom-building foundation.