低空经济周报（02.24-03.02）：民航法修订在即，促进低空经济发展相关内容写入修订草案-2025-03-05

Investment Rating - The report maintains an "Overweight" rating for the low-altitude economy sector [3]. Core Insights - The low-altitude economy index decreased by 2.60% this week, with an average daily trading volume of 41.014 billion yuan, indicating a significant increase compared to the past year [3][11]. - The sector's price-to-earnings ratio (TTM) stands at 82.40, reflecting a high valuation level [3][11]. - There was a net outflow of 890 million yuan from major funds this week, contrasting with the previous week’s inflow [3][11]. Market Performance - The top five performing stocks this week include Green Energy Wisdom, XPeng Motors-W, Jilin Chemical Fiber, Nairui Radar, and Funeng Technology, while the worst performers are Zongshen Power, Zhongke Star Map, ZTE Communications, Shangong Shenbei, and Aerospace Hongtu [4][15]. - The report highlights a significant increase in trading volume, with a year-on-year increase of 156.08% [3][11]. Industry Dynamics - A total of 20 projects were signed at the Guiyang Low-altitude Economy Industry Launch Conference, with a total investment of 10.55 billion yuan [5][21]. - The Shanghai Pudong New Area has initiated the construction of a low-altitude transportation system [5][26]. - The first flight of regular low-altitude logistics operations in northern islands has been successfully conducted [5][31]. Policy Developments - The Sichuan Provincial Office has issued key tasks for the low-altitude economy industry chain for 2025, aiming to stabilize logistics routes and enhance infrastructure [6][36]. - The upcoming revision of the Civil Aviation Law includes provisions to promote the development of the low-altitude economy [6][38]. Key Company Developments - EHang has announced a strategic partnership with Jianghuai Automobile and Hefei Guoxian Holdings to establish a joint venture for manufacturing low-altitude aircraft [7][39]. - A collaboration between Xiangyuan Cultural Tourism and XPeng Huitian aims to create a comprehensive business model for low-altitude tourism [7][40]. - BYD and DJI have launched an intelligent vehicle-mounted drone system, enhancing their product offerings in the low-altitude economy [7][40].