低空经济行业双周报：峰飞与合肥开启全面合作，各地区低空场景陆续落地

Investment Rating - The report maintains an "Outperform" rating for the low-altitude economy industry [1] Core Insights - The low-altitude economy sector is currently in a phase of intensive policy implementation, with ongoing improvements in top-level design and local supporting measures accelerating [7] - The report highlights significant collaborations and investments in the low-altitude economy, including a strategic partnership between Fengfei Aviation and Hefei City, and a 1.26 billion yuan loan to Xiaopeng Huitian for its flying car manufacturing base [6][24] - The report emphasizes the importance of focusing on four main investment themes: components, complete machines, infrastructure support, and air traffic management operations [7] Summary by Sections Market Review - From March 31 to April 13, the low-altitude economy sector underperformed the market, with the Wande Low-altitude Economy Index declining by 5.33%, trailing the Shanghai Composite Index by 1.95 percentage points [6][14] Policy Dynamics - The Ministry of Industry and Information Technology issued the "2025 Industrial and Information Standard Work Points," emphasizing the acceleration of low-altitude information infrastructure standards [19] - Local governments are also advancing low-altitude policies, such as Guangzhou's guidelines for vertical take-off and landing facilities [20] and Beijing's 5G deployment plan for low-altitude applications [21] Industry Dynamics - Chengdu held a conference to launch the first batch of low-altitude economic innovation scenarios, releasing 39 supply lists and 48 demand lists across various sectors [22] - The establishment of the first low-altitude economic intelligent computing center in Sichuan, with a total investment of 14.2 billion yuan, marks a significant step in the region's low-altitude economic development [33] Important Company Announcements - Xiaopeng Huitian secured a 1.26 billion yuan syndicated loan to support its flying car manufacturing base, representing the largest loan for flying car production globally [24] - Fengfei Aviation signed a cooperation agreement with Hefei City to develop urban air traffic systems and eVTOL commercial operations [28] - A strategic partnership was formed between Huayu Xianxiang and AVIC to advance the development of eVTOL systems [36]