The machinery industry has experienced cyclical recovery and valuation adjustments, with some individual stock valuations returning to 20-30 times. In the context of the general trend of fixed assets investment growth slowing year by year, only mechanical equipment enterprises with craftsmanship spirit can go against the current (Sany Heavy Industry, Hengli Hydraulic, Haomai Technology, Chutian Technology, Microoptics, etc.), while electronic special equipment under the background of semiconductor and panel industry has growth potential (precision measurement electronics, Changchuan Technology), and mechanical equipment related to the manufacturing of consumer industrial products also deserves attention (Central Asia Shares, etc.). From January to May 2017, the national fixed assets investment increased by 8.6% year on year, 0.3 percentage point lower than that from January to April, but the growth of fixed assets investment in oil and gas exploration, textile and clothing, wood processing, furniture manufacturing, chemical fiber, computer communication and electronics, instrumentation, transportation, pipeline transportation, etc. was faster than that of the same period last year, corresponding to oil services, sewing machines, woodworking machinery, chemical equipment, electronic special equipment The pipeline manufacturing and engineering general contracting and other mechanical equipment industry segments enjoy high prosperity. In summary, we recommend high-quality growth stocks that focus on good fundamentals and strong certainty of performance growth: Precision Test Electronics, Kangni Electromechanical, Zhejiang Dingli, Sany Heavy Industry, Superstar Technology, Houpu Shares, Furui Special Equipment, Nori Shares, Truking Technology.