本周沪深300 指数+4.06%，创业板指数+7.61%，中小板指数+6.54%，家电板块+2.54%。从细分板块看白电、黑电、小家电涨跌幅分别为+0.88%、+18.13%、+0%。个股中，本周涨幅前五名是天银机电、深康佳A、秀强股份、飞乐音响、和而泰；本周跌幅前五名是新宝股份、海信电器、老板电器、三花智控、格力电器。

经过近2 年国内油气勘探开发力度的加强，国内油服产业上市公司国内市场收入占比逐步成为主要收入来源，预计2019 年国内市场收入占比进一步显著提升。油服产业投资逻辑转变，其景气度逐步由国内能源安全战略驱动主导，国际油价对国内油服产业的影响减弱，行业景气度确定性更强。2020 年6 月，国家能源局首次提出，国内油气勘探开发《成2019-2025 七年行动方案》。从三桶油的2020 年战略部署来看，三桶油将继续贯彻执行“七年行动计划”，全力加大勘探开发力度，国内油服行业有望保持长效的业务增长。经过市场的大幅反弹后，油服设备行业是当前具备业绩支撑的攻守兼备机械设备子行业，建议重点关注。

经过过去几年快速发展，中国锂电设备企业在技术、效率、稳定性等多个方面都已经逐步赶超了日韩设备企业，并拥有性价比、售后维护等方面的优势。目前国内锂电设备企业集群已经形成，并成为中国高端装备名片进入国际市场。随着锂电龙头纵向结盟与出海扩产，锂电设备受益下游扩产迎来快速增长的全新机遇期。重点推荐锂电物流自动化领域龙头诺力股份，同时重点推荐先导智能、赢合科技，建议关注杭可科技。

关于天然气上游勘探开发和中游储运，我们已在油气装备系列报告之一到四中详细解析，本报告将聚焦于天然气下游应用端，挖掘投资机会。天然气下游应用繁杂，与机械行业相关的主要是天然气重卡/客车，关键设备就是车载储气钢瓶，主要由富瑞特装、圣达因、奥扬等机械公司提供，建议关注富瑞、中集安瑞科等。

2020年1月我国新能源汽车产量同比下降超过50%，生产大约4.85万辆；动力电池装机量约2.32GWh，同样下降超过50%。从一月份的装机量上不难看出，动力电池行业受到的短期影响不小。

In the past few years, the UV LED technology has evolved and witnessed a tremendous growth, owing to its increasing applications, such as curing, purification, and others. The main advantage UV LEDs have over UV Lamps is that they have a very narrow band, compared to UV lamps. As a result, the risk of exposure to the wrong wavelength gets reduced significantly. The applications, such as printing and medical operations, benefitted the most during the initial years. Graphco, one of the key printing solution distributors in the United States, recently stated that about 87% of the printing solution vendors were providing UV-LED based solutions. This factor stands as a testament to the increasing usage of these solutions in the industry.

作为最早进入动力电池领域的企业，松下的产能相比于同业公司有明显的优势，出货量一直保持着稳定增长，且2017年之前一直排在首位，2014-2016年出货量分别为2.7GWh、4.6GWh、7.2GWh。2017-2019年出货量分别为10GWh、22.3GWh、25GWh，位居第二。

Fans and blowers are used to provide heating, cooling, ventilation, and the necessary airflow for industrial processes. These systems typically consist of a fan, an electric motor, a drive system, ducts or piping, flow control devices, and air conditioning equipment, such as filters and cooling coils. There are two main fan types: centrifugal and axial fans. Centrifugal fans typically have eight types of wheels/ impellers that are used to draw the air into the inlet of the blower housing, through the wheel, for the air to then be discharged out through the discharge of the housing at 90 degrees. Increasing demand from the data centers is a significant driver for the fans and blowers market. Majority of the data centers are located in Europe and the United States, while internet traffic has been mainly growing in developing countries. New laws related to information security in the developing countries require processing the data domestically. Hence, the demand growth for fans and blowers from the data center industry is expected to come from mainly developing countries.

HVAC is the technology that is used for automotive cabin comfort. It is used to facilitate and manage the favorable and pleasant conditions inside the cabin by controlling the degree of the temperature. The basic operation of the HVAC system is convection and conduction. Heat is transferred from the region of low- temperature to the region of high-temperature in the vehicle due to pressure difference. Evaporator, condenser, compressor, and others are the major components of the HVAC system. The India automotive HVAC market is segment on the basis of technology and vehicle type. Based on technology, the market is categorized into manual and automatic. On the basis of vehicle type, it is classified into passenger cars, light commercial vehicle, and heavy commercial vehicle. The leading market players operating in the India automotive HVAC market include Samvardhana Motherson Group, MAHLE ANAND Thermal Systems, Subros Limited, Sanden Vikas (India) Ltd., Denso Corporation, Hanon Systems, Johnson Electric Holdings Limited, Sensata Technologies, Keihin Corporation, Valeo Service, and others.

2018 年，机器人市场仍保持较高发展增速，工业机器人占据市场主要份额，服务机器人市场占比不断增加。我国连续五年位居全球工业机器人销量第一，国产品牌持续投入研发，与国外品牌产品差距不断缩小。在产业结构调整及制造业自动化转型升级背景下，机器人市场需求强劲。