2025年 商用无人机行业词条报告 头豹分类/科学研究和技术服务/科技推广和应用服务/知识产 权服务/商用服务 Copyright © 2025 头豹 商用无人机是指脱离个人娱乐属性，以创造商业价值、提升商业场景效率为核心目标，为企业、机构等客户提供专业化服务的无人机产品。 商用无人机核心特点是需搭载激光雷达、高清测绘相机、物流货舱、集群控制系统等专用设备，结合定制化解决方案，在商业场景中实现可量化 的效能提升（如降低成本、提高作业效率），而非满足个人消费需求，是连接无人机技术与商业应用的核心载体。 行业分类 按照商用无人机应用场景的不同，商用无人机可分为如下类别： 行业分类： 科学研究和技术服务/商用服务 摘要 商用无人机以创造商业价值为核心，搭载专用设备，实现效能提升。其核心需求聚焦商业价值转化，产品设计围绕客户痛点；技术门槛高于消费级，需定制配置并提供一体 化方案；交易模式偏向长期服务合作，利润更多来自后续服务收费。市场规模增长得益于技术进步和成本效益，未来新兴场景爆发式增长，如低空物流、文旅等，以及设备 租赁激发下沉场景市场规模，如无人机即服务模式和二手市场规范，都将推动商用无人机市场规模进一步扩大。 ...

Core Viewpoint - The "Tian Zhi Quantitative Core Selection" fund has experienced significant losses, with a reported decline of 13.39% this year, marking a trend of consecutive annual losses over the past four years, each exceeding double digits [5][27]. Fund Performance - The fund's turnover rate has been exceptionally high, reaching over 1000% since August 2023, indicating frequent trading of its top holdings [14]. - The fund's net asset value has fluctuated significantly, with a reported net asset change rate of 374.38% as of June 30, 2025, despite the overall decline in performance [8]. Fund Management - The fund has undergone management changes, with five different fund managers, each contributing to poor performance rankings [19]. - The previous manager, Xu Jiahan, is noted for making high-risk investments, leading to substantial losses during his tenure [11][23]. Investment Strategy - The fund's investment strategy has been criticized for chasing high-performing stocks, particularly during periods of market volatility, which has exacerbated losses [16][27]. - The current manager, Li Shen, has shifted the fund's focus towards value stocks, particularly in the financial and public utility sectors, but has struggled to capitalize on market rebounds [25][27]. Market Context - The fund's performance is set against a backdrop of broader market trends, with significant fluctuations in growth and value sectors, impacting overall investment strategies [30][34]. - Despite the fund's poor performance, there has been an influx of retail investor interest, leading to an increase in the fund's C share scale from 2 million to 7 million [28].

10月14日，智通财经从产业链独家获悉，中国版"星链"公司上海垣信正进行新一轮融资，规模约50亿至 60亿元，投前估值在400多亿人民币。2026年，将发射648颗卫星，2027年要完成1296颗，2030年之后达 到15000颗。 智通财经记者了解到，通宇通讯近日已投资1亿元入股上海垣信，并已获得卫星天线等零部件订单，预 计接下来几年有20-30亿卫星通信订单。广州海格通信也在加快卫星通信芯片研发，计划2026年量产。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002465 证券简称：海格通信 公告编号：2025-049号 广州海格通信集团股份有限公司 关于全资子公司增资扩股事项预挂牌的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 特别提示： 1、广州海格通信集团股份有限公司（以下简称"公司"）全资子公司广州海格天腾产业发展有限公司 （以下简称"天腾产业"）拟在产权交易所预挂牌，通过增资扩股的方式引入战略投资者。 2、本次预挂牌仅为信息预披露，目的在于征寻意向方，不构成交易行为，交易对方尚不确定，无法判 断是否构成关联交易。 3、本次交易完成后，公司仍为天腾产业的控股股东，不会改变公司合并报表范围，天腾产业仍属于公 司合并报表范围内控股子公司。 4、本次增资扩股事项尚需履行有权批准单位的批准程序，并履行公司内部审议程序，公司将根据事项 进展情况履行相应的审议程序及信息披露义务，敬请广大投资者注意投资风险。 一、本次增资扩股预挂牌概述 公司全资子公司天腾产业拟通过公开挂牌方式增资扩股引入战略投资者。根据国有资产管理的有关规 定，天腾产业本次增资扩 ...

格隆汇10月13日丨海格通信(002465.SZ)公布，公司全资子公司天腾产业拟通过公开挂牌方式增资扩股 引入战略投资者。根据国有资产管理的有关规定，天腾产业本次增资扩股将在广州产权交易所（广东联 合产权交易中心国有资产交易业务子平台）进行预挂牌。根据《深圳证券交易所股票上市规则》及《公 司章程》规定，本次预挂牌事项不构成公司董事会审议事项。 ...

人民财讯10月13日电，海格通信（002465）10月13日公告，公司全资子公司天腾产业拟通过公开挂牌方 式增资扩股引入战略投资者。根据国有资产管理的有关规定，天腾产业本次增资扩股将在广州产权交易 所进行预挂牌。天腾产业本次增资扩股，可满足天腾产业业务发展及后期经营对资金的需要，有利于加 快天腾信息产业基地建设，加大无人和低空经济业务布局。天腾产业本次增资扩股不会影响公司对天腾 产业的实际控制权，公司仍为天腾产业的控股股东。 ...

智通财经APP讯，海格通信(002465.SZ)公告，公司全资子公司广州海格天腾产业发展有限公司(简称"天 腾产业")拟在产权交易所预挂牌，通过增资扩股的方式引入战略投资者。该事项有利于加快天腾信息产 业基地建设，加大无人和低空经济业务布局。 ...

证券代码：002465 证券简称：海格通信 公告编号：2025-049 号 广州海格通信集团股份有限公司 公司全资子公司天腾产业拟通过公开挂牌方式增资扩股引入战略投资者。根 据国有资产管理的有关规定，天腾产业本次增资扩股将在广州产权交易所（广东 联合产权交易中心国有资产交易业务子平台）进行预挂牌。根据《深圳证券交易 所股票上市规则》及《公司章程》规定，本次预挂牌事项不构成公司董事会审议 事项。 关于全资子公司增资扩股事项预挂牌的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、广州海格通信集团股份有限公司（以下简称"公司"）全资子公司广州海 格天腾产业发展有限公司（以下简称"天腾产业"）拟在产权交易所预挂牌，通 过增资扩股的方式引入战略投资者。 2、本次预挂牌仅为信息预披露，目的在于征寻意向方，不构成交易行为， 交易对方尚不确定，无法判断是否构成关联交易。 3、本次交易完成后，公司仍为天腾产业的控股股东，不会改变公司合并报 表范围，天腾产业仍属于公司合并报表范围内控股子公司。 4、本次增资扩股事项尚需履行有权批准单位的批准程序，并履行 ...

Investment Rating - The report suggests to continue focusing on investment opportunities within the communication industry [2] Core Insights - The communication industry showed steady revenue growth and accelerated profitability in H1 2025, with total revenue reaching 1785.003 billion yuan, a year-on-year increase of 10.07%, and net profit attributable to shareholders at 160.432 billion yuan, up 11.26% year-on-year [4][7] - The AI computing industry chain is expected to continue accelerating its development in 2025, benefiting the communication industry [17][19] Summary by Sections H1 2025 Performance Overview - The communication industry achieved a total revenue of 1785.003 billion yuan in H1 2025, with a year-on-year growth of 10.07%, and a net profit of 160.432 billion yuan, reflecting an 11.26% increase [4][7] Segment Performance Changes - In H1 2025, the optical module and device segment reported revenue of 47.988 billion yuan, a year-on-year increase of 64.88%, and net profit of 10.876 billion yuan, up 111.99% [25] - The communication PCB segment achieved revenue of 57.249 billion yuan, a year-on-year increase of 37.66%, and net profit of 8.058 billion yuan, up 80.79% [31] - The network equipment segment generated revenue of 507.111 billion yuan, a year-on-year increase of 28.86%, with net profit of 19.184 billion yuan, up 19.57% [37] AI Industry Chain Investment - Major overseas cloud companies are expected to maintain optimistic growth in capital expenditures, with a total of 95 billion USD in Q2 2025, reflecting an 82.96% year-on-year increase [17] - Companies like Oracle and Nvidia are showing strong growth prospects in their AI-related businesses, with Oracle's unfulfilled revenue reaching 455 billion USD, a year-on-year increase of 359% [22][19]

Core Viewpoint - The strategic partnership between Haige Communication and Guodian Gaoke aims to develop and commercialize satellite IoT solutions, focusing on the "Tianqi Constellation" technology, which will enhance the integration of satellite communication across various sectors [1][4]. Group 1: Partnership Details - Haige Communication and Guodian Gaoke will collaborate in four key areas: joint technology development, system integration and solution development, commercial promotion and market expansion, and shared national strategic tasks [2][4]. - The partnership targets applications in low-altitude economy, industrial IoT, emergency communication, marine satellite communication, transportation, and consumer electronics, aiming to enhance the market penetration and brand influence of the "Tianqi Constellation" [2][4]. Group 2: Current Developments - Guodian Gaoke is the builder and operator of China's first low-orbit IoT constellation, the "Tianqi Constellation," which has 37 low-orbit satellites in operation, providing integrated IoT data communication services globally [4]. - The partnership will focus on creating end-to-end solutions that integrate "Tianqi satellites" with various industries, promoting the transition of satellite IoT from industry applications to mass consumer use [4][6]. Group 3: Policy and Market Outlook - Recent government policies, including the Ministry of Industry and Information Technology's guidance, indicate a push for satellite communication applications, with expectations for over 10 million users by 2030 [5][6]. - The Ministry has initiated a two-year commercial trial for satellite IoT, aiming to enrich market supply and enhance industry service capabilities, which is expected to support the healthy development of commercial space and low-altitude economies [6][7]. Group 4: Industry Positioning - Haige Communication is a leading supplier of ground terminals in the satellite communication sector, with a comprehensive product range including chips, modules, and terminals, and is actively involved in national satellite internet projects [7]. - The company is also focusing on the emerging opportunity of "automobile direct satellite" applications, conducting tests with major automotive manufacturers to prepare for mass production [7].