低空经济行业周报（6月第1周）：中国航发AES100发动机获联合飞机订单，美团无人机香港航线开通

Investment Rating - Investment rating: Positive (maintained) [1] Core Insights - The low-altitude economy is experiencing significant growth, with various companies actively developing logistics applications and infrastructure [20][21][29] - The opening of Meituan's drone delivery route in Hong Kong demonstrates a nearly 7-fold increase in delivery efficiency compared to traditional methods [23] - The establishment of the low-altitude economy working committee by the China Internet Association aims to promote collaboration and standardization in the industry [24] - The AES100 engine developed by China Aviation Power has secured orders from United Aircraft Group, highlighting advancements in drone technology [31] Summary by Sections 1. Market Overview - The average stock price change for low-altitude economy-related A-shares was +0.7% from June 2 to June 6, with notable performers including Xicai Testing (+37.1%) and Lihang Technology (+9.5%) [13][22] - The low-altitude economy sector is seeing continuous progress in unmanned logistics applications [20] 2. Industry Dynamics - Meituan's drone delivery service in Hong Kong has commenced, significantly improving delivery times [23] - The second low-altitude economy cooperation development conference was held by China Telecom, focusing on technological innovation and ecosystem collaboration [25] - The establishment of a low-altitude economy industry education integration community in Liaoning aims to enhance collaborative development [26] - Guangdong achieved its first cross-water drone delivery of lychees, marking a milestone in logistics capabilities [28] 3. Company Developments - China Aviation Power signed contracts for the AES100 engine, which will serve as the core power unit for a new drone transport platform [31] - Xingtun Technology established a subsidiary focusing on low-altitude emergency services [30] - Sanyama signed a strategic cooperation agreement with Tianyu Aviation to explore unmanned logistics solutions [29] - Shenzhen Urban Transport has developed various low-altitude logistics-related software and hardware products [32] - SF Express and Guangdong University of Technology are collaborating to establish a low-altitude logistics technology research institute [33]