国防军工行业：中央空管委即将在六个城市开展eVTOL试点，体系建设稳步推进，低空产业发展可期

Investment Rating - The industry investment rating is "Buy" [2] Core Viewpoints - The report highlights the upcoming pilot projects for eVTOL in six cities, indicating a significant step in low-altitude industry development [2] - The report emphasizes the importance of airspace management reform as a key driver for the growth of the low-altitude economy, suggesting that improved airspace management will facilitate low-altitude flight activities [2] - The establishment of infrastructure and standards is progressing steadily, which is crucial for the development of urban air traffic systems [2] Summary by Relevant Sections Industry Overview - The report discusses the central air traffic management committee's plans to initiate eVTOL pilot projects in cities such as Hefei, Hangzhou, Shenzhen, Suzhou, Chengdu, and Chongqing, with a focus on airspace authorization below 600 meters [2] - It notes that local governments will bear more management responsibilities as part of the airspace management reform [2] Key Events - The report mentions that the airspace management reform is accelerating, with a focus on the demonstration effect of infrastructure development for the industry [2] - It highlights the launch of a high-quality construction initiative for low-altitude economic infrastructure in Shenzhen, including the addition of over 8,000 5G-A base stations [2] Investment Recommendations - The report suggests focusing on leading companies in the domestic low-altitude industry, including Guorui Technology, Ruichuang Micro-Nano, and Zhongke Xingtong, among others [2] - It also recommends attention to material companies like Guangwei Composite and Zhonghang Gaoke, as well as complete machine and core subsystem companies such as Zhongzhi Co., Hongdu Aviation, and Aerospace Electronics [2]