报告期内，汇嘉时代还引入飞书智能协同平台，数智化建设提档加速。公司从智能化门店管理、组织协 同提效、AI业务赋能及一站式协作平台建设等维度发力，依托飞书的AI协同能力优势，打造数智化数 据中台，打破壁垒，实现跨部门、跨系统、跨产业的流程协同协作，不断提升数智化运营水平。同时， 公司亦将利用数智化优势，积极探索"低空经济+消费"，融合发展多元应用场景，拓展业务新边界。 在此前汇嘉时代与投资者交流时，汇嘉时代创始人、实际控制人潘锦海对此向投资者表示，飞书的引入 不仅是技术升级，更是管理范式的革新。汇嘉时代通过飞书的AI协同能力与数据中台能力，将打通跨 部门、跨系统、跨产业的流程协作壁垒。 半年报数据披露，报告期公司百货业态自营毛利率从2024年上半年的5.41%，提高至7.09%；超市毛利 率更是从2024年上半年的13.61%提高至18.34%。 资料显示，经过深耕新疆市场二十余年的运作和积累，汇嘉时代抢抓机遇，深化布局，在巩固发展存量 业务的基础上，积极布局疆内空白市场，提升市场占有率。截至2025年6月末，公司在新疆地区拥有6家 百货商场、5家购物中心及11家独立超市，受托管理2家购物中心及1家百货商场，建 ...

Core Points - The Guangzhou Development Zone and Huangpu District are promoting the low-altitude economy and aerospace industry through a series of policies and initiatives aimed at creating a comprehensive industrial ecosystem [1][2] - The "Low Altitude and Aerospace 11 Measures" policy offers substantial financial incentives, including a maximum reward of 30 million yuan for companies achieving key aviation certifications [2][3] - A new low-altitude takeoff and landing point and route planning system has been introduced, featuring a "3+9+N" layout to enhance infrastructure for low-altitude operations [3][4] Policy and Financial Support - The policy is set to inject approximately 200 million yuan into the low-altitude economy, with specific incentives for various stages of business development [2][3] - Key financial support includes up to 1 million yuan for project establishment, 600,000 yuan for infrastructure development, and 300,000 yuan for demonstration projects [2][3] - The initiative aims to enhance local core component supply rates and support training for drone operators and new aircraft pilots [2][3] Infrastructure Development - The district has unveiled a comprehensive low-altitude takeoff and landing point plan, which includes three hubs, nine stations, and numerous takeoff points [3][4] - A low-altitude equipment manufacturing park is under construction, designed to support advanced technology and testing facilities [4][5] - The establishment of a low-altitude management service platform and deployment of 31 5G-A base stations are part of the infrastructure enhancements [4][5] Application Scenarios and Market Opportunities - The district has launched 16 typical application scenarios and 55 specific opportunity lists across production, public services, and aviation consumption [6][7] - Successful implementations include drone-assisted agriculture, automated inspection services, and intelligent customs clearance for low-altitude logistics [7][8] - The area has conducted 1,923 flight activities with a total flight time of 243 hours, showcasing the active engagement in low-altitude operations [6][7] Industry Collaboration and Ecosystem - The establishment of the Low Altitude Economy Industry Association marks a new phase in collaborative development within the sector [8][9] - The association aims to integrate resources from enterprises, research institutions, and industry associations to foster innovation and cooperation [8][9] - The district has attracted over 50 companies, generating a total output value of 14.8 billion yuan, demonstrating the successful formation of a low-altitude economic cluster [9][10]

Core Viewpoint - Dong'an Power reported significant growth in revenue and profitability for the first half of 2025, indicating a successful turnaround and strong market positioning in the automotive powertrain sector [1][2]. Group 1: Financial Performance - In the first half of 2025, Dong'an Power achieved operating revenue of 2.479 billion yuan, a year-on-year increase of 25.72% [1]. - The company reported a net profit of 3.9212 million yuan, reversing a loss of 6.7898 million yuan in the same period last year [1]. - Basic earnings per share were 0.02 yuan, reflecting improved financial health [1]. Group 2: Product and Market Positioning - Dong'an Power offers three major engine product platforms: naturally aspirated, turbocharged direct injection, and new energy range-extended power systems, along with three transmission product platforms [1]. - The company has established itself as a dominant player in the commercial vehicle market, covering engine displacements from 1.5L to 2.5L [2]. - Dong'an Power is the sole manufacturing base for Changan Automobile's high-end passenger car engines (2.0L and above) [2]. Group 3: Production and Market Expansion - The total production volume for Dong'an Power reached 330,700 units in the first half of 2025, representing a year-on-year increase of 33.95% [2]. - The company has a market share of 2.39% in the gasoline engine sector, an increase of 0.38 percentage points compared to the previous year [2]. - Dong'an Power has initiated 60 new market projects, including 14 in the new energy sector, with a projected lifecycle sales volume of 3 million units [3]. Group 4: Future Goals and Innovations - The company aims to sell 600,000 units and achieve operating revenue of 5.2 billion yuan in 2025 [3]. - Future market strategies include focusing on traditional markets, export markets, and range-extended and hybrid markets, each targeting one-third of overall business [3]. - Dong'an Power is actively pursuing product innovation, including the development of a rotor engine in collaboration with AVL [3].

北京商报讯(记者马换换王蔓蕾)7月29日，证监会官网显示，蓝箭航天空间科技股份有限公司(以下简 称"蓝箭航天")启动科创板上市辅导，辅导协议签署时间为2025年7月25日，辅导机构为中国国际金融股 份有限公司。 蓝箭航天官网显示，公司是国内领先的航天运输系统创建及运营企业，致力于构建以中大型液氧甲烷运 载火箭为中心的"研发、制造、试验、发射"全产业链条，打造航天领域的科技综合体，为全球市场提供 高性价比、高可靠性的航天运输服务。 值得一提的是，在2025年胡润全球独角兽榜中，蓝箭航天以200亿企业估值位列第418位。 蓝箭航天本次启动科创板上市辅导背后，证监会于6月18日发布《关于在科创板设置科创成长层增强制 度包容性适应性的意见》，其中提到扩大科创板第五套标准适用范围，支持人工智能、商业航天、低空 经济等更多前沿科技领域企业适用科创板第五套上市标准。 据上市辅导备案报告，蓝箭航天成立于2015年6月1日，注册资本3.6亿元，法定代表人为张昌武；公司 控股股东为张昌武及其控制的淮安天绘科技信息咨询中心(有限合伙)，占公司14.68%的股份。 ...

政策暖风吹拂下，市场规模增长曲线陡峭。根据工信部赛迪研究院等数据，截至2023年末，中国低空经济规模达5059.5亿元，伴随着低空飞行活动增加和 基础设施投资见效，未来几年行业有望保持快速增长，预计2026年规模突破万亿元，2035年规模有望突破3.5万亿元。 近期首届国际低空经济博览会重磅开幕。全球近300家行业头部企业齐聚上海，19件全球首发产品、25件全国首发产品集中亮相。开展首日，来自上海的 沃兰特航空与泰国泛太平洋公司签署了500架eVTOL采购协议，这笔高达17.5亿美元的订单创下了迄今为止中国高等级客运eVTOL获得的最大单笔国际订 单记录。 在政策、技术与市场的三重共振下，通用航空作为低空经济的核心主体，有望加速从概念走向现实，而光大保德信基金将于8月4日——8月15日发行的光 大国证通用航空指数基金（A类：024788 C类：024789），有望成为投资者场外布局这一领域的高效投资工具。 政策东风：国家战略加持的万亿蓝海 当顶层设计与地方实践形成合力，产业发展的"加速键"被按下。从2024年起，低空经济已连续两年被写入政府工作报告；2024年3月，工信部等四部门联 合发布的《通用航空装备创新 ...

Core Insights - The low-altitude economy in China is experiencing significant growth, with 78 financing events reported in the first half of 2025, highlighting the sector's potential and investment interest [1][3][5] Financing Events - A total of 78 financing events occurred in the low-altitude economy sector nationwide in the first half of 2025, with Beijing leading at 17 events, followed by Chengdu, Suzhou, Shanghai, Shenzhen, and Xi'an with 6 each [2][3] - Chengdu stands out with 6 financing events, showcasing its prominence in the western region of China [3][12] - The financing rounds included 28 A-rounds, 21 angel rounds, 12 B-rounds, and 4 C-rounds or above, indicating a diverse range of investment stages [5] Investment Amounts - Among the disclosed financing events, 21 reported specific amounts, with 14 being in the tens of millions and 7 in the billion range [5] - Notable financing includes Sichuan Aosi Technology's nearly 200 million RMB in C-round financing, marking it as one of the seven billion-level financing events nationwide [13] Key Companies and Developments - Significant companies involved include Sichuan Aosi Technology, which received nearly 200 million RMB, and other firms like WeFly LongSky and Dream Sky Technology, which are making strides in eVTOL development and orders [6][11][13] - The 2025 International Low Altitude Economy Expo resulted in a record 1.75 billion USD in orders, including a landmark agreement for 500 eVTOL aircraft [7][11] Regional Development - Chengdu's low-altitude economy is characterized by a broad coverage of the industrial chain and diverse investment sources, with local and external investors participating [12][14] - The city has established itself as a crucial aviation manufacturing base, benefiting from its industrial foundation and technological innovation capabilities [14] Technological Advancements - The low-altitude economy is witnessing breakthroughs in technology, with companies like WeFly LongSky introducing innovative products such as the AE200 smart cabin, enhancing user experience in eVTOLs [9][11] - The sector is also focusing on various technological fields, including drone manufacturing, FPV technology, and low-altitude security [13]

近期 首届国际低空经济博览会重磅开幕 。 全球近300家行业头部企业齐聚上海，19件全球首发产 品、25件全国首发产品集中亮相 。开展首日， 来自上海的沃兰特航空与泰国泛太平洋公司签署了 500 架 eVTOL采购协议，这笔高达17.5亿美元的订单创下了迄今为止 中国高等级客运eVTOL获得 的最大单笔国际订单记录。 在政策、技术与市场的三重共振下，通用航空作为低空经济的核心主体，有望加速从概念走向现实， 而光大保德信基金 将于8月4日——8月15日发行的光大国证通用航空指数基金（A类：024788 C 类：024789），有望成为投资者场外布局这一领域的高效投资工具。 政策东风：国家战略加持的万亿蓝海 当顶层设计与地方实践形成合力，产业发展的"加速键"被按下。 从2024年起，低空经济已连续两年 被写入政府工作报告； 2024年3月，工信部等四部门联合发布的《通用航空装备创新应用实施方案 （2024-2030年）》从国家层面明确目标，到2030年推动低空经济形成万亿级市场规模，这份纲领 性文件为产业发展绘制了清晰的路线图。 地方政府的响应也十分积极、迅速。据不完全统计，全国已有超过25个省市将低空经济相关内 ...

证券日报网讯新劲刚（300629）7月30日在互动平台回答投资者提问时表示，凯际智能与深圳市智胜高 技术研究院于2024年10月签订战略合作协议后，双方在低空经济领域的合作稳步推进，公司正积极对接 深圳及周边地区的低空经济应用场景，推动相关技术与产品的商业落地，已有部分地区完成了产品测试 及站址确定，后续进展将按规定及时披露。 ...

Core Viewpoint - The successful flight of the YH-1000 unmanned transport aircraft marks a significant milestone in its journey towards practical operation, demonstrating its capability for commercial use in complex mountainous terrain [1] Group 1: Flight Details - The YH-1000 completed a full process verification of "cargo transport - cross-regional flight - autonomous return" over a distance of 134 kilometers between Liangping and Wulong, navigating five peaks over 1,000 meters in elevation [1] - The aircraft took off at 7:47 AM, landed at Wulong Xianren Mountain Airport at 9:06 AM, and returned to Liangping Airport at 11:02 AM after unloading and reloading cargo [1] Group 2: Project Development - The YH-1000 project was initiated in June 2024, with ground taxi tests completed in January 2025 and its first flight successfully conducted on May 22, 2025 [1] - The project team indicated that further steps will be taken to promote trial operations, contributing to the development of the low-altitude economy in the western region, subject to policy approvals [1]

Core Viewpoint - Galaxy Microelectronics (688689.SH) is actively engaged in the development and application of various semiconductor products, focusing on power devices and their integration into emerging markets such as robotics and low-altitude economy [1] Product Range - The company's product portfolio includes power device chips, MOSFETs, IGBTs, SiC devices, GaN devices, protection devices, rectifiers, small signal devices, optoelectronic devices, and analog ICs [1] - These products are widely used in automotive electronics, energy power, industrial control, smart home, network communication, computers, and peripheral devices [1] Market Focus - The company has shown a keen interest in the robotics and low-altitude economy sectors, indicating that its power devices, such as high-voltage MOS and silicon carbide components, are essential for robotics power supply and joint movements [1] - In the low-altitude economy, products like MOSFETs are utilized in drone power modules and motor drives, highlighting the company's commitment to market research and technological exploration in these areas [1]