Summary of Key Points from the Conference Call Industry Overview - The focus is on the low-altitude logistics sector, particularly involving drones and counter-drone technologies [1][2][4]. Core Insights and Arguments - The National Postal Bureau of China has emphasized the development of drone technology for branch transportation and last-mile delivery, aiming to enhance the low-altitude economy in postal and express services [1][2]. - There is an exploration of cross-province and intercity drone transportation to scale up last-mile delivery applications, improving service efficiency and customer experience [3][4]. - Low-altitude logistics can be categorized into last-mile logistics (within 20 km) and branch logistics (50-500 km), with small multi-rotor drones used for last-mile delivery and fixed-wing drones for longer distances [4]. - A comprehensive drone delivery network is being established, as outlined in the "General Aviation Equipment Innovation Application Implementation Plan" released in March 2024 [4]. - Meituan has received the first nationwide low-altitude logistics coverage operational certificate in April 2025 [4]. Related Companies and Investment Opportunities - **Logistics Drone Companies**: - Guanglian Aviation (supplier for Baijing Airlines) - Zongshen Power (suppliers for Tengdun, Rainbow, and Zhong UAV) - Zongheng Co. (engaged in drone logistics demonstration applications) - Green Energy Huichong (heavy-duty drones in collaboration with China Post) - Aerospace Rainbow (YH1000 logistics drone first flight) [5]. - **Other Low-Altitude Economy Companies**: - Shenzhen Urban Transport - Sichuan Chuang Electronics - Lais Information - Wanfeng Aowei [5]. Additional Important Insights - The Ukrainian National Security Bureau reported the deployment of 117 FPV drones to attack multiple airports in Russia, destroying several strategic bombers [6]. - The tactic employed by Ukraine involves concealing drones in modified containers, which are then delivered to specified locations by unsuspecting truck drivers, showcasing a low-cost and high-concealment strategy that may increase global focus on drone technology and countermeasures [6][7]. Related Companies in Counter-Drone Technology - **Drone Companies**: - Zongshen Power (aviation piston engines) - Aerospace Electronics - Zhong UAV - Aerospace Rainbow - Guanglian Aviation - Zongheng Co. [7]. - **Counter-Drone Companies**: - Sichuan Chuang Electronics - Lianchuang Optoelectronics - Aerospace Nanhu - Guorui Technology - Lais Information - Sichuan Jiuzhou [7].

纵横股份 20250602 摘要 纵横股份深耕垂直起降固定翼无人机领域，已服务超 1,500 家国内外客 户，并连续两年位列德国 DGI 全球民用无人机制造商前五，是该领域唯 一入选企业，技术积累深厚，拥有超 360 项专利，包括 100 多项发明 专利。 公司具备全业务链自主研发制造能力，鹏飞科技园年产能达 3,700 架， 覆盖飞控、电子设备、复合材料加工及总装测试，在国内外市场均具竞 争力，早期产品应用于测绘，现已扩展至能源巡检、边海防、公安应急 等领域。 纵横股份重点布局低空数字化经济，参与四川省低空经济产业发展有限 公司的组建，探索低空物流应用，并参与重载运输型无人机项目，为国 家电网、铁塔等提供物资运输服务，同时开展吨级飞机研发。 公司无人值守系统包括 C700 自动机库和 P200 多选一机库，具备远程 自动充电、故障预警等功能，适用于城市和城乡管理，市场需求转向自 主充电和数据管理系统，推动模块化智能化发展。 Q&A 请介绍一下纵横股份的基本情况及其在工业无人机领域的发展历程。 纵横股份成立于 2010 年，是国内首家工业无人机上市公司。公司最初五年主 要从事飞控导航系统的研发，提供软件、硬件 ...

Industry Overview - The low-altitude logistics industry in China consists of a comprehensive supply chain, including upstream raw materials and core components, midstream low-altitude manufacturing, and downstream operational services and applications [1][2] - Upstream materials include metals, special rubber, and polymer materials, while midstream encompasses low-altitude manufacturing, flight operations, and comprehensive services [1][2] - Downstream services cover e-commerce logistics, traditional express delivery, takeaway delivery, and third-party logistics providers, with applications in urban logistics, rural logistics, emergency rescue, and medical supplies delivery [1] Key Players and Their Business Layout - Major companies in the low-altitude logistics sector include Hongdu Aviation, AVIC Helicopter, and DJI, with a focus on various aspects of the supply chain [2][10] - Hongdu Aviation specializes in the design, manufacturing, and maintenance of trainer aircraft, with over 8,000 pieces of equipment [11] - AVIC Helicopter is the largest player in China's helicopter manufacturing industry, with a comprehensive product range [11] - DJI and other drone manufacturers are pivotal in the midstream segment, while logistics companies like SF Express, Meituan, and JD.com are key players in the downstream segment [2][10][12] Regional Development - The low-altitude logistics industry is primarily concentrated in Beijing and Guangdong, where the development of the supply chain is more robust [4][6] - As of April 2025, there are 16 drone industrial parks across China, with notable concentrations in Zhejiang and Jiangsu [8] Recent Developments and Trends - Companies are diversifying their operations, with SF Express, Meituan, and JD.com expanding their business through digital logistics solutions and technological innovations [13][14] - The industry is witnessing advancements in drone technology, including battery life improvements and enhanced obstacle avoidance capabilities [14] - Collaboration among companies is increasing to explore new application scenarios and business models in low-altitude logistics [14] Representative Companies' Latest Developments - SF Express has established a three-segment air transport network and operates a significant number of drone flights daily [12][15] - Meituan has launched multiple drone delivery routes and is expanding its operations internationally, including in the UAE [15] - JD.com is focusing on last-mile delivery in remote areas and has introduced a new generation of logistics drones [15] - China Post is developing a low-altitude logistics network and has signed strategic agreements to enhance its infrastructure [15] - Xunyi Technology is collaborating with China Mobile to promote low-altitude logistics and smart city initiatives [15]

其中，国泰海通证券股份有限公司总部、开源证券股份有限公司西安太华路证券营业部、东吴证券股份 有限公司上海西藏南路证券营业部分别买入1686.69万元、1533.90万元、973.62万元。 国泰海通证券股份有限公司总部、华宝证券股份有限公司舟山港航国际大厦证券营业部、中泰证券股份 有限公司潍坊四平路证券营业部分别卖出1082.05万元、716.82万元、606.41万元。 5月30日，纵横股份上涨20.00%登上龙虎榜，有价格涨跌幅限制的日收盘价格涨幅达到15%，知名游资 卖出。 买入金额最大的前5名营业部 买入额/万 卖出额/万 净额/万 国泰海通证券股份有限公司总部 1686.69 0.00 1686.69 开源证券股份有限公司西安太华路证券营业部 1533.90 0.00 1533.9 东吴证券股份有限公司上海 西藏南路证券营业部 973.62 0.00 973.62 瑞银证券有限责任公司上海浦东新区花园石桥路第二证券营业 部 805.32 0.00 805.32 机构专用 793.37 0.00 793.37 卖出金额最大的前5名营业部 买入额/万 卖出额/万 净 额/万 国泰海通证券股份有限公司总部 ...

Group 1 - The aviation equipment sector experienced a short-term surge, with Zongheng Co., Ltd. hitting the daily limit, and other companies like Guolian Aviation, Hangxin Technology, and others also seeing significant gains [1]

● 本报记者 康曦 罗京 云南宁蒗泸沽湖机场，纵横股份自主研发的云龙固定翼无人机正缓缓起飞，开启四川省2025年度川西航 空护林任务；中自科技的机动车尾气催化剂生产线，机械臂高速运转，智能制造的场景在这里落地…… 当政策春风拂过民营经济田野，一幅"创新驱动发展"的生动图景正在神州大地铺展。随着《中华人民共 和国民营经济促进法》正式施行，民营企业正以科技创新为支点，撬动高质量发展的新未来。 精准施策破解发展瓶颈 5月20日，《民营经济促进法》正式施行。《民营经济促进法》明确提出，支持民营经济组织参与国家 重大战略和重大工程。支持民营经济组织在战略性新兴产业、未来产业等领域投资和创业，鼓励开展传 统产业技术改造和转型升级，参与现代化基础设施投资建设。为资信良好的民营经济组织融资提供便利 条件，增强信贷供给、贷款周期与民营经济组织融资需求、资金使用周期的适配性，提升金融服务可获 得性和便利度。 全国工商联副主席、奇安信集团董事长齐向东感慨，《民营经济促进法》的审议通过，就像一场"及时 雨"，让民营经济在中国式现代化征程中扎根更深、生长更活跃。 《民营经济促进法》明确提出，引导民营经济组织根据国家战略需要、行业发展趋 ...

Core Viewpoint - The consumer drone market in China is experiencing robust growth, driven by rising living standards, increased entertainment demand, and government support, with market size expected to reach 48.899 billion yuan in 2024, a year-on-year increase of 20.0% [1][12]. Group 1: Industry Overview - China is one of the largest drone markets globally, with the consumer drone segment showing significant development [12]. - Consumer drones are designed for personal use, featuring lightweight, easy operation, and relatively low prices, catering to ordinary consumers' needs [3]. - The government has implemented various policies to encourage the development and application of consumer drone technology while enhancing flight regulation for safety and privacy [1][12]. Group 2: Market Size and Growth - The consumer drone market in China is projected to grow to 58.678 billion yuan by 2025 [1][12]. - The flight control system market in China is also expanding, with a projected growth from 314 million yuan in 2021 to 521 million yuan in 2024, reflecting a compound annual growth rate of 18.4% [10]. Group 3: Investment Trends - The investment landscape in the consumer drone sector is active, with the number of investments reaching 6 by April 2025, totaling 800 million yuan, surpassing the total investment amount for 2024 [14]. Group 4: Competitive Landscape - The consumer drone market is characterized by a stable competitive landscape, with leading companies like DJI and EHang dominating the high-end market, while the mid-to-low-end market remains fragmented [15][18]. Group 5: Industry Trends - Technological innovation is driving the industry forward, with advancements in AI, big data, and cloud computing enhancing the intelligence of consumer drones [21]. - Miniaturization is a key trend, as consumer demand for lightweight and portable drones increases [22]. - The industry is expected to see accelerated mergers and acquisitions as competition intensifies and prices decline, with average prices dropping from 5,000 yuan in 2019 to 1,800 yuan in 2024 [24].

Group 1 - The profession of drone swarm flight planner has been recognized as one of the 17 new occupations announced by the Ministry of Human Resources and Social Security in 2025, with applications extending beyond performance planning to urban governance, logistics, emergency response, and cultural tourism [1] - The low-altitude economy was included in the government work report during the 2024 National Two Sessions, with the Civil Aviation Administration of China predicting that the market size will reach 1.5 trillion yuan by 2025 and potentially exceed 3.5 trillion yuan by 2035 [2] Group 2 - AI-powered police models and intelligent decision-making platforms are emerging in the public security sector, utilizing big data to analyze intelligence clues and support practical operations [4] - Various smart equipment, including unmanned patrol vehicles, patrol boats, and "cyber police dogs," are being showcased in the first intelligent unmanned equipment exhibition area at the 12th China International Police Equipment Expo, highlighting the application of smart unmanned equipment in law enforcement across air, ground, water, and underwater environments [5]

Core Viewpoint - Zongheng Co., Ltd. has initiated deep cooperation with China Tower's Sichuan branch to leverage communication tower resources for building low-altitude infrastructure and situational monitoring networks, enhancing the efficient application of drones in various fields such as power inspection, emergency mapping, emergency rescue, and security monitoring [1] Group 1 - Zongheng Co., Ltd. is collaborating with China Tower's Sichuan branch [1] - The partnership aims to utilize the extensive communication tower resources across the province [1] - The focus is on developing low-altitude infrastructure and situational monitoring networks [1] Group 2 - The collaboration will enhance the application of drones in power inspection [1] - Drones will also be utilized for emergency mapping and rescue operations [1] - Security monitoring is another key area for drone application within this partnership [1]

证券代码：688070 证券简称：纵横股份 公告编号：2025-030 成都纵横自动化技术股份有限公司 2024年年度股东大会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 05 月 12 日 （二） 股东大会召开的地点：四川省成都市高新区天府五街菁蓉汇 3A11 楼 A3 会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 23 | | --- | --- | | 普通股股东人数 | 23 | | 2、出席会议的股东所持有的表决权数量 | 53,506,778 | | 普通股股东所持有表决权数量 | 53,506,778 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 61.0947 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 61.0947 ...