【中泰研究丨晨会聚焦】电新曾彪：eVTOL处于0-1过程，应用前景广阔—eVTOL专题报告

Group 1: eVTOL Industry Insights - The eVTOL industry is currently in the 0-1 stage, indicating significant potential for future applications [2] - Global eVTOL fleet projections estimate 500,000, 4.5 million, and 16 million units in operation by 2030, 2040, and 2050, respectively [2] - Revenue forecasts for global eVTOL operators are projected to reach $10 billion, $160 billion, and $900 billion in 2030, 2040, and 2050, with 50% of 2050 revenue expected from airport transfers [2] - eVTOL systems consist of several subsystems, including airframe, navigation and communication, flight control, power, and energy subsystems [2] Group 2: Consumer Finance Regulatory Changes - The new Consumer Finance Company Management Measures increase the minimum registered capital from 300 million to 1 billion [2] - The requirement for major shareholders' ownership has been raised from 30% to 50%, impacting 15 out of 31 consumer finance companies that currently have lower ownership [2] - The revised regulations clarify that "consulting and agency services" are part of daily operations, which may enhance revenue sources for consumer finance companies [2] - The new rules allow consumer finance companies to apply for asset-backed securities (ABS) issuance [2] - The limit on guarantee and credit enhancement business is set to not exceed 50% of total loan balances, promoting self-operated and profit-sharing models [2]