汽车低空行业周报（10月第4周）：二十届四中全会再提低空经济，静待后续十五五规划细则出台-20251026

Investment Rating - The industry rating is "Outperform the Market" [6][54]. Core Insights - The low-altitude economy index increased by 3.22% during the week of October 20-24, outperforming the overall market, which saw the Shanghai Composite Index rise by 2.88% [4][15]. - The report highlights the strategic importance of the low-altitude economy as reiterated in the 15th Five-Year Plan, which aims to develop emerging pillar industries, including low-altitude economy, potentially creating markets worth trillions [4][30][38]. - The report emphasizes the need for infrastructure development and the application of drones in various sectors as key to the industry's growth [5][31]. Summary by Sections Market Review - The low-altitude economy index ranked 188 out of 339 sectors, indicating a rebound after a previous downturn [15]. - The top five gainers in the A-share and Hong Kong stock markets included companies like Xingwang Yuda and Aerospace Hongtu, with increases ranging from 11.53% to 15.29% [3][17]. Industry Dynamics - The establishment of a leadership group by the Civil Aviation Administration of China for general aviation and low-altitude economy is a positive sign for future policy support [31]. - Local governments are increasingly focusing on practical measures such as airspace planning and low-altitude flight management, indicating a shift towards actionable policies [31][36]. Investment Strategy - The report suggests focusing on infrastructure companies like Suzhou Planning and Les Information, as well as drone manufacturers such as Jifeng Technology and Henghe Precision [9][33]. - The report anticipates that the low-altitude economy will see significant developments, particularly in drone applications, benefiting from military and civilian integration [5][31].