Group 1 - The core viewpoint of the news is that Qijing Automotive will launch its first shooting brake model in June next year, featuring Huawei's full-stack intelligent technology [1][3] - Qijing is a new high-end intelligent electric vehicle brand jointly created by Huawei and the Qijing team, with investment from GAC Group, aiming to establish a young, high-end, and trustworthy flagship [3] - The shooting brake model has completed extreme high-temperature environment testing and design finalization, with plans to introduce two additional models by 2026 [3]

Group 1 - Hong Kong's smart driving concept stocks experienced a strong performance at the beginning of trading, with Tuda Tong (02665.HK) rising over 4% and Youjia Innovation (02431.HK) increasing by more than 1% [1] - Other stocks such as Hesai-W (02525.HK), GAC Group (02238.HK), Leap Motor (09863.HK), and WeRide-W (00800.HK) also saw gains [1] - The positive market movement is attributed to the news that Beijing has issued the first batch of L3-level highway autonomous driving vehicle special license plates [1]

Group 1 - The core viewpoint of the article highlights the strong performance of Hong Kong's smart driving concept stocks, driven by the issuance of the first batch of L3-level highway autonomous driving vehicle special license plates in Beijing [1] Group 2 - Specific stocks mentioned include Tuatong (02665.HK) which rose over 4%, Youjia Innovation (02431.HK) which increased by more than 1%, and other companies such as Hesai-W (02525.HK), GAC Group (02238.HK), Leap Motor (09863.HK), and WeRide-W (00800.HK) that also experienced gains [1]

Group 1 - The core viewpoint of the article highlights that southbound funds have increased their holdings in GAC Group (02238.HK) by 5.788 million shares on December 23, with a total net increase of 13.894 million shares over the last five trading days [1] - Over the past 20 trading days, southbound funds have increased their holdings on 11 days, resulting in a cumulative net increase of 31.5072 million shares [1] - As of now, southbound funds hold 1.738 billion shares of GAC Group, accounting for 61.76% of the company's issued ordinary shares [1] Group 2 - GAC Group is primarily engaged in the automotive and related businesses in China, including research and development, manufacturing and sales of vehicles (cars and motorcycles), auto parts, trade and mobility, energy and ecology, internationalization, and investment and finance [1] - The company operates through two segments: the automotive business and related trade segment, which includes the production and sale of various passenger cars, commercial vehicles, auto parts, and related trade [1] - The other segment mainly involves the production and sale of motorcycles, automotive financial insurance, other financial services, and investment businesses, with operations in both domestic and international markets [1]

Core Insights - The event "Car Parade in Flower City: Smart Towards the Future" held in Guangzhou showcases the city's automotive industry upgrade and urban development through a dynamic parade and static exhibition format [1][2] - GAC Group participated with 36 vehicles and 2 robots, highlighting its comprehensive industry layout from vehicle manufacturing to smart mobility [1] - The parade featured GAC's autonomous brands and electric models, demonstrating the company's multi-technology approach in the new energy sector [1][2] Group 1 - The parade route was approximately 17 kilometers long, starting from the Guangzhou Tower and showcasing the Pearl River scenery and urban skyline [1] - GAC Group displayed 13 vehicle models in the "Current Formation," including its self-owned brands like GAC Aion and GAC Honda, emphasizing its advantages in the new energy field [1][2] - The event theme reflects Guangzhou's ambition to become a "Smart Car City," marking a significant step in the city's automotive transformation [2] Group 2 - The highlight of the parade was the lead float featuring GAC's fourth-generation humanoid robot GoMate Mini, capable of real-time interaction with the audience [2] - A static display area at the Guangzhou Tower showcased GAC's diverse product lineup and cutting-edge technologies, providing insights into its innovation capabilities [2] - GAC Group has made progress in key areas such as L4-level autonomous driving and intelligent robotics, aiming to strengthen its position as a high-tech enterprise and contribute to the development of the Guangdong-Hong Kong-Macao Greater Bay Area [2]

Core Viewpoint - GAC Group's stock has experienced a decline of 12.34% this year, with a recent drop of 2.04% on December 23, 2023, reflecting ongoing challenges in the automotive sector [1] Financial Performance - For the period from January to September 2025, GAC Group reported a revenue of 66.272 billion yuan, a year-on-year decrease of 10.49% [2] - The net profit attributable to shareholders was -4.312 billion yuan, representing a significant year-on-year decline of 3691.33% [2] Stock Market Activity - As of December 23, 2023, GAC Group's stock price was 8.17 yuan per share, with a total market capitalization of 83.31 billion yuan [1] - The trading volume was 291 million yuan, with a turnover rate of 0.48% [1] - Major funds saw a net outflow of 44.1942 million yuan, with large orders buying 54.7318 million yuan and selling 71.4520 million yuan [1] Shareholder Information - As of September 30, 2025, the number of GAC Group's shareholders was 127,600, a decrease of 6.03% from the previous period [2] - The top ten circulating shareholders included Hong Kong Central Clearing Limited, which held 72.2261 million shares, down by 47.8595 million shares from the previous period [3] Dividend Distribution - GAC Group has distributed a total of 25.639 billion yuan in dividends since its A-share listing, with 3.974 billion yuan distributed over the past three years [3]

《民用无人驾驶航空器系统运行识别规范》则规定了无人机系统应在运行全过程主动报送自身身份、位 置、速度、状态等运行识别信息，从运行识别发送、通信链路传输与接收三个方面提出了详细技术要 求，为无人机系统、运行识别专用接收与处理系统和运行识别信息传输设备的设计、生产、制造、检 测、检验、审定和运行提供了统一技术标准。 中金公司研报指出，面对中国基建市场庞大的运维需求，无人机正重构工程运维服务新生态。从赋能电 网自动化巡检、破解铁路、公路高危巡检难题，到支撑能源管道智能监测、保障电信基站高效运维，无 人机正打破传统基建巡检的空间限制与效率瓶颈，降低人力成本与安全风险，推动基建运维智能化。建 议重点关注低空经济与基建建设战略协同发展催生的投资机会。 据悉，低空经济是以无人机、电动垂直起降飞行器(eVTOL)、直升机、传统固定翼飞机为主体，依托有 人和无人驾驶航空器的综合经济形态，包括载人、载货等在低空范围内的一切经济活动。 当下，低空经济是新质生产力发展的代表性领域之一。数据显示，我国已有969家企业在民用无人驾驶 航空器产品信息系统完成了登记注册，备案产品3191种，超过478万架，全球首款四座电动飞机获颁中 国民航 ...

据悉，低空经济是以无人机、电动垂直起降飞行器(eVTOL)、直升机、传统固定翼飞机为主体，依托有 人和无人驾驶航空器的综合经济形态，包括载人、载货等在低空范围内的一切经济活动。 日前，由中国民用航空局组织编写的《民用无人驾驶航空器实名登记和激活要求》《民用无人驾驶航空 器系统运行识别规范》，经市场监管总局(国家标准委)批准发布。这两项强制性国家标准将于2026年5 月1日起正式实施，促进产业更加安全、健康、有序地发展。 具体来看，《民用无人驾驶航空器实名登记和激活要求》适用于中国境内从事飞行或相关活动的无人机 的实名登记和激活管理，规定了无人机系统、生产者系统、实名登记系统在处理"登记"和"激活"等不同 状态之间的关系、流程和技术要求以及测试方法，并对各系统之间的数据交互作出统一要求。 《民用无人驾驶航空器系统运行识别规范》则规定了无人机系统应在运行全过程主动报送自身身份、位 置、速度、状态等运行识别信息，从运行识别发送、通信链路传输与接收三个方面提出了详细技术要 求，为无人机系统、运行识别专用接收与处理系统和运行识别信息传输设备的设计、生产、制造、检 测、检验、审定和运行提供了统一技术标准。 中金公司研报指 ...

Group 1: Regulatory Developments - The Civil Aviation Administration of China has released two mandatory national standards for civil unmanned aerial vehicles (UAVs), effective from May 1, 2026, aimed at promoting a safer and more orderly industry development [1] - The standards include requirements for real-name registration and activation of UAVs, detailing the relationship, processes, and technical requirements for various systems involved in registration and activation [1] - The operational identification standard mandates UAV systems to actively report their identity, location, speed, and status throughout their operation, providing unified technical standards for design, production, and testing [1] Group 2: Market Opportunities - The drone industry is reshaping engineering operation and maintenance services in China's infrastructure sector, addressing challenges in high-risk inspections and supporting intelligent monitoring of energy pipelines and telecom base stations [2] - The low-altitude economy, encompassing UAVs and eVTOLs, is a significant area of growth, with 969 companies registered and over 478,000 UAVs documented in China [2] - The low-altitude economy is projected to grow at a compound annual growth rate of over 25%, potentially reaching a market size of 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035 [3] Group 3: Policy Support and Industry Growth - Recent policies have intensified focus on the low-altitude economy, with local governments releasing standards for low-altitude communication networks and UAV traffic management [3] - The national "14th Five-Year Plan" emphasizes the development of the aerospace and low-altitude economy sectors, with state-owned enterprises establishing low-altitude economic companies [4] - The market for low-altitude economy is expected to reach a trillion yuan by 2030, with significant investments in infrastructure and technology to support this growth [4] Group 4: Key Players and Innovations - AVIC (Aviation Industry Corporation of China) is a leading player in the aerospace sector, involved in various UAV and aviation-related businesses [6] - ZTE Corporation is advancing its low-altitude sensing technology and has completed pilot projects for 5G-A sensing systems [6] - XPeng Motors has launched a low-altitude flight camp and plans to establish a flying car store, marking a significant step in the practical application of low-altitude economy technologies [6] - GAC Group's GOVY AirJet, a composite wing flying car, has successfully completed its first flight, showcasing advanced technology and performance [7]

Core Viewpoint - The CEO of Qijing Automotive, Liu Jiaming, announced the nationwide road testing of their first model, a high-end smart electric vehicle positioned in the "three million" category, marking a significant step in the company's development [1] Group 1: Product Details - The new model is characterized by its core selling points of "million-level aesthetics, million-level driving control, and million-level intelligence" [1] - This vehicle is the first project to be launched under Huawei's Qian Kun "Jing" series [1] Group 2: Company Background - Qijing brand is a collaboration between GAC Group and Huawei Qian Kun, initiated in January 2025, and is positioned as a high-end smart electric vehicle brand, independent of GAC's existing brand system [1] Group 3: Market Launch Timeline - The model is scheduled to officially launch and begin deliveries in June 2026, with the joint team currently in the final stages of product development and deep coordination [1]