Hazardous location LED lighting refers to a network of LED lights that are fitted with sensors and can detect hazardous substances. These networks can provide a highly effective earlydetection system for plant safety and safeguard the life and proper ty, in case of an incident. LED lighting for hazardous locations holds the potential to save operating and maintenance costs for operators of the facilities. LED lighting is agreed as a viable alternative to traditional lighting in areas, where flammable gases and vapors are present (under conditions defined by NEC class I, division 2, and IEC zone 2). Besides the detection of hazardous substances and triggering of an alert, these sensors equipped LED lighting equipment allow the configuration to dynamically illuminate the lights along the evacuation route, based on the absence of the offending substance, thereby, assisting the guide personnel on the fastest, safest escape route. Energy conservation is another benefit achieved by these LED fixtures incorporating smar t sensors. These can help reduce energy use by an additional 50%.

The report covers the study of the heavy construction equipment market on the basis of equipment type, application, end-user industry, and region. Heavy construction equipment includes earthmoving equipment, material handling equipment, heavy construction vehicles, and others. These equipment are used to move large amounts of earth or dig foundations and landscape areas. For instance, material handling equipment are used to move raw, waste materials from one place to another; while heavy construction vehicles are used for transporting construction materials such as sand, gravel, and excavated dirt from one job site to another. The application areas of heavy construction equipment considered in the report are excavation & demolition, heavy lifting, material handling, tunneling, and recycling & waste management. Various industries, such as construction, mining, oil & gas, infrastructure, manufacturing, and others (forestry and agriculture) are extensive users of heavy construction equipment.

Forklift truck can be defined as the most important and majorly vehicle for material handling. In addition, lift truck is powered industrial vehicle that is used for lifting and transporting material for short distance inside warehouses or other operational sites. Lift trucks are either gasoline powered or electric powered. Also, the penetration of electric powered forklifts trucks is rising in recent days owing to benefits such as eco-friendly and noise less operation. Further, a typical forklift truck consists of two power-operated horizontal prongs that are raised and lowered for loading, transporting, and unloading of goods.

Heat pump is a mechanical-compression cycle refrigeration system that can be reversed to either heat or cool desired space. Therefore, it is massively used in space heating and cooling applications. It is composed of two main components, which include an indoor air handler and an outdoor unit that is quite similar to the central air-conditioner but referred to as a heat pump. The outdoor unit has a compressor that circulates refrigerant, which is known for absorbing and releasing heat that travels between indoor and outdoor units. The key difference between an air conditioner and heat pump is both technologies cool the desired space using similar mechanisms, but heat pumps can also heat residential spaces, whereas the air conditioner cannot.

本周各细分行业涨多跌少，其中机械行业指数上涨0.41%，同期沪深300 上涨0.30%，机械行业跑赢大盘，在28 个行业中排名第15。本周我们覆盖的机械子行业中，工程机械、检测设备、智能物流、工业自动化、石化煤机涨幅较高，分别上涨3.53%、1.81%、1.24%、1.21%、1.01%；船舶海工、3C自动化、光伏设备、半导体设备、锂电设备跌幅较多，分别下跌2.90%、3.02%、3.06%、3.94%、8.15%。

新能源汽车行业：我们看好后续月度、季度数据持续转好；行业进入上行周期后，终端商业模式的创新、量价齐升的弹性环节等值得关注：比如近期车电分离等消费端模式变化、正极和电解液等环节价格的变化；我们认为板块已经到了再次布局的时间窗口，后面仍是资本市场的主线，中报结束可能是重要的启动时间点。具体的投资方向，核心是特斯拉、宁德时代产业链，关注边际改善较大环节和公司。

工程机械板块中报业绩持续兑现，继续看好下半年景气度。本周中联重科发布2020 年中报，实现营业收入288.27 亿元，同比增长29.49%，归母净利润40.18亿元，同比增长59.96%，再次印证上半年工程机械板块的高景气度。下半年来看，2020 年1-7 月固定资产投资完成额同比下降1.60%，降幅继续收窄；工程机械核心配套企业艾迪精密破碎锤事业部月产突破5000 台，市场需求旺盛。

我国水表行业的中小企业众多，整体市场处于充分竞争状态其中， 主要上市的水表企业包括汇中股份、三川智慧、新天科技与宁水 集团，各公司在传统机械水表、智能水表、超声水表、超声流量 计等方面各有所长。

光伏方面，当前需求景气叠加供给缺口，产业链价格上行企稳，继续强推 板块，看好通威、隆基、林洋能源等。9 月底大众 ID.4 全球首发，传统车企转型电动化领 航员的重磅车型相继投放市场，引领汽车电动化浪潮，持续推荐海外供应链以及特斯拉、 MEB 产业链。电网数字新基建仍系后疫情时代经济复苏主线，继续推荐新基建龙头标的。

投资建议：重点推荐产业链各环节具备全球竞争力的龙头公司。电池环节，重点推荐宁德时代，建议关注亿纬锂能、国轩高科、欣旺达、鹏辉能源等；材料及零部件环节，重点推荐璞泰来、恩捷股份、科达利、嘉元科技、当升科技、新宙邦，建议关注中科电气、杉杉股份、星源材质、天赐材料等；特斯拉产业链，重点推荐：宏发股份、三花智控、旭升股份、奥特佳、银轮股份、拓普集团等。

引言：2017年分布式光伏在大部分地区工商业已实现经济性，但为何没有持续维持高速增长？BIPV与BAPV都属于分布式，BIPV能否有所改善？特斯拉在2019年10月推出BIPV新产品Solar Roof第三代，隆基在今年8月发布首款BIPV产品“隆顶”，BIPV是否能开启光伏新增市场？

2020.08.17-2020.08.21：本周电新行业跌幅为-1.79%，同期沪深300 指数跌幅为0.30%，跑输沪深300 指数2.09%，在申万28 个行业板块中位列第26 位，表现处于下游。

新能源车方面，蔚来联合宁德时代成立电池资产管理公司。电池采取租赁模式，消费者可以购买不含电池的裸车，单车价格便宜7 万。我们认为电池资产管理公司可以真正创造价值，在特定条件下充电可以延长电池寿命，利于新能源车保值和降低消费者购买门槛，并进一步推动行业发展。在换电场景，实现B2B，宁德时代有望构建“动力-储能-资源-材料”全产业链闭环。建议重点关注：宁德时代、恩捷股份、当升科技等。光伏方面，持续的上游价格上涨导致下游装机延后，四季度终端需求持续受到冲击。组件厂开始减少电池片外采量，传递到电池片端，未来看涨空间有限，行业有望逐步恢复理性价格。

新能源车产销同比转正，H2 预期趋势向好。7 月新能源汽车产销分别完成10 万辆/yoy+15.6%/mom-2.4%和9.8 万辆/yoy-5.5%/mom+19.3%，纯电动乘用车产销分别完成7.1 万辆/yoy+32.9%/mom+5.2%和7 万辆/yoy+38.1%/mom-3%；插混动力乘用车产销分别完成2.1 万辆/yoy+8%/mom-9% 和1.9 万辆/yoy+3.2%/mom-5.6%，2020 年1~7 月,新能源车产销分别完成49.6 万辆/yoy-31.7%和48.6 万辆/yoy-32.8%，符合市场预期。