呈和科技收翌智航48%股份，材料助剂龙头低调布局低空赛道

Core Viewpoint - Chenghe Technology is strategically acquiring a 48% stake in Yizhi Aviation to enter the trillion-yuan low-altitude economy sector while maintaining its focus on polymer materials business [2][4][9] Company Overview - Chenghe Technology, established in 2002 and listed on the Sci-Tech Innovation Board in 2021, is a leading enterprise in the field of polymer material additives, specializing in nucleating agents, synthetic hydrotalcite, and antioxidants [2][4] - Yizhi Aviation, founded in December 2019, is a high-tech company under China Electronics Technology Group, focusing on unmanned systems command control, intelligent logistics, and drone inspection [2][4] Acquisition Details - The acquisition of Yizhi Aviation's 48% stake is seen as a key step for Yizhi to transition from state-owned to a market-oriented entity, enhancing its growth potential [2][4][6] - Chenghe Technology emphasizes that this acquisition is an attempt to expand into different types of materials and application scenarios while remaining committed to its core polymer materials business [2][4][6] Financial Performance - Yizhi Aviation is projected to achieve a revenue of 20.78 million yuan and a net profit of 2.43 million yuan in 2024, with total assets of 37.29 million yuan covering liabilities of 28.55 million yuan, indicating stable profitability [5][6] - Chenghe Technology reported a revenue of 740 million yuan and a net profit of 228 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 14% and 15% respectively [6] Strategic Collaboration - The partnership will focus on resource sharing and collaboration in material research and development, with Yizhi Aviation serving as an important testing ground for Chenghe Technology's future material innovations [7][8] - Chenghe Technology aims to address low-altitude economy material needs, focusing on high-strength lightweight materials, battery energy density enhancement materials, and thermal protection as key research directions [8] Market Outlook - The low-altitude economy is currently in a developmental phase, with significant opportunities expected in the next 3 to 5 years as the industry moves towards large-scale commercial operations [8][9] - Chenghe Technology's entry into this sector is based on recognizing mature opportunities rather than chasing industry trends, aiming to capture a leading position in the trillion-yuan market [9]