格隆汇11月14日丨亿纬锂能(300014.SZ)在互动平台表示，在低空领域，公司能提供从电芯到系统的一 站式航空级安全解决方案。公司是国内首家通过AS9100D航空航天体系认证的电池企业，在商用无人机 和eVTOL等领域逐步打开局面，成功斩获植保机等商用无人机订单，进一步拓展了头部客户资源，并 联合开发新品，形成更为丰富的产品矩阵。2025年3月，公司收到广东汇天航空科技有限公司（小鹏汇 天）下一代原理样机低压锂电池定点开发通知书。这标志着双方将在低空经济领域深度协同，为飞行器 的产业化进程注入关键动力，共同推动低空经济新生态的构建。 ...

Market Overview - A-shares experienced a collective pullback with the Shanghai Composite Index down by 0.97%, Shenzhen Component down by 1.93%, and ChiNext down by 2.82% on November 14, 2025, with a total trading volume of 1,958.1 billion yuan [1] ETF Performance - Oil and gas-related ETFs led the gains, with the top performers including: - Oil and Gas ETF Bosera (561760) up by 2.02% - Oil and Gas Resource ETF (159309) up by 1.68% - Oil and Gas Resource ETF (263150) up by 1.48% [2] - Conversely, the top decliners included: - Sino-Korea Semiconductor ETF (513310) down by 4.45% - Hang Seng Internet ETF (159688) down by 3.66% - ChiNext AI ETF Guotai (159388) down by 3.64% [4] Sector Insights - Guolian Minsheng Securities noted that OPEC+ unexpected production increases and U.S. tariffs are pressuring oil prices, but a slowdown in U.S. oil and gas production growth may provide fundamental support. The focus remains on leading oil and gas central enterprises with quality upstream assets and high dividends [3] - The current investment strategy is diversified, emphasizing "anti-involution," domestic demand, and emerging industries. The traditional cyclical chemical sector is expected to see improvements as excess capacity is gradually eliminated [3] A-share Strategy Outlook - Guoxin Securities projected that the bull market initiated in 2024 is not over, entering its second phase with a shift from sentiment to fundamentals. The focus for 2026 will be on technology, particularly in AI applications, robotics, and smart driving [5] - The market is expected to revolve around themes of technological self-reliance, industrial upgrades, and resource security, with opportunities in AI, semiconductors, and high-end manufacturing [5] ETF Trading Activity - The Short-term Bond ETF (511360) had the highest trading volume at 19.797 billion yuan, followed by Silver Hua Daily ETF (211880) at 12.553 billion yuan and Huabao Tianyi ETF (211990) at 11.818 billion yuan [6][7] - The National Debt Policy Bond ETF (511580) led in turnover rate at 275%, indicating high trading activity [7] New ETF Launch - A new QDII product, the Hang Seng Technology ETF Southern (520570), will be launched next Monday, tracking the Hang Seng Technology Index. It is suitable for investors optimistic about China's long-term tech development [8]

转自：新华财经 新华财经北京11月14日电 （王媛媛）市场全天震荡调整，沪指跌近1%失守4000点，创业板指跌近3%。 截至收盘，沪指报3990.49点，跌0.97%，成交8380亿元；深证成指报13216.03点，跌1.93%，成交11201 亿元；创业板指报3111.51点，跌2.82%，成交4943亿元。沪深两市成交额1.96万亿元，较上一个交易日 缩量839亿元。 板块方面，燃气、医药商业、石油行业涨幅居前，半导体、非金属材料、电子化学品、贵金属板块跌幅 居前。 盘面热点 盘面上，锂电板块延续强势，孚日股份7连板，石大胜华3连板。福建板块逆势爆发，平潭发展、海峡环 保涨停。燃气板块逆势走强，首华燃气20cm涨停。流感概念股反复活跃，金迪克5天3板，众生药业3天 2板。海南板块表现活跃，海南海药涨停。下跌方面，算力硬件方向集体回调，存储芯片概念重挫，佰 维存储跌超10%；CPO概念震荡调整，"易中天"光模块三巨头走弱。 中国⼈民银行副行长陶玲11月14日在第十六届财新峰会上表示，构建可持续的金融生态。重视金融生态 对金融业发展的关键影响。强化清晰的产权界定、公平的竞争规则、有效的契约执行、适度的融资成 ...

Core Insights - Wolant has completed a B+ round financing of several hundred million yuan, led by Jinding Capital and five listed companies, to accelerate the certification and mass production of its VE25 eVTOL aircraft [1] - The company aims to obtain airworthiness certification by the end of 2026 or early 2027, with steady progress on various fronts [1] - Wolant has become a unicorn with a valuation exceeding $1 billion after its B round financing and is the most active low-altitude economy enterprise in terms of financing in 2024 [1] Company Developments - Wolant has achieved significant milestones in the commercialization of eVTOL, including the rollout of engineering prototypes and successful manned flights, along with confirmed orders from multiple airlines and leasing companies [1] - The company has signed multiple cooperation agreements with various partners, including Beijing Yizhuang International Financing Leasing Co., and is collaborating with Shenzhou Car Rental to develop a fleet of VE25-100 eVTOLs [3] Industry Outlook - The low-altitude economy is recognized as a strategic emerging industry in China, with eVTOL technology expected to revolutionize the aviation sector and create a trillion-yuan market [2] - The market for low-altitude economy is projected to reach 1.5 trillion yuan by 2025 and exceed 3.5 trillion yuan by 2035, indicating strong growth potential [4] - The integration of eVTOL technology is anticipated to address traditional aviation challenges, such as high operational costs and limited takeoff and landing points [2]

官宣新融资。 记者11月14日从低空经济企业沃兰特获悉，该公司近日完成了数亿元B+轮融资，由金鼎资本联合伯特 利（603596）、海利得（002206）、爱玛科技（603529）、精锻科技（300258）、博俊科技（300926） 5家上市公司投资。本轮融资将用于沃兰特VE25型eVTOL(电动垂直起降飞行器)的适航认证及量产准 备，进一步加速其商业化进程，华兴资本担任本轮融资独家财务顾问。 沃兰特联合创始人、行政总裁黄小飞在接受证券时报记者采访时表示，预计沃兰特VE25型eVTOL将在 2026年年底至2027年年初能够取得适航TC(型号合格证)。目前公司各项工作将按照既定节奏稳步推进。 "eVTOL即电动垂直起降航空器。电动，让成本有了巨大的变化，从超3万元/时的飞行成本，降至超 3000元/时；垂直起降让基础设施成本实现了超百倍下降，'电动+垂直起降'也带来了十倍的安全。"黄小 飞对证券时报记者说。随着eVTOL的日趋成熟，长期制约传统通用航空器发展的瓶颈，起降点不够 多、效率不够高、通行成本过高等，都有望得到根治。 黄小飞说，沃兰特自主研发的商用载人客运V25-100天行eVTOL，可以让5分钟、20 ...

Core Viewpoint - Wolant has completed a B+ round financing of several hundred million yuan, which will be used for the airworthiness certification and mass production preparation of its VE25 eVTOL, accelerating its commercialization process [2][3]. Financing and Valuation - Wolant has become one of the most active companies in the low-altitude economy sector, completing ten rounds of financing since its establishment in 2021, with a valuation exceeding 1 billion USD after the B round [2][3]. - The company is also noted for having the highest number of financing rounds in the low-altitude economy sector in 2024 [2]. Technological Advancements - The VE25 eVTOL has achieved significant milestones, including the completion of engineering prototypes and manned flight tests, with confirmed orders from multiple airlines and leasing companies [2][3]. - The eVTOL technology is expected to revolutionize the aviation industry, significantly reducing operational costs and infrastructure requirements [3]. Market Potential - The low-altitude economy market in China is projected to reach 1.5 trillion yuan by 2025 and exceed 3.5 trillion yuan by 2035, indicating substantial growth potential [5]. - The integration of eVTOL technology is seen as a key driver for innovation and capital flow within the low-altitude economy, which has been recognized as a strategic emerging industry by the government [3][5]. Strategic Partnerships - Wolant has signed multiple cooperation agreements with various companies, including leasing firms and service providers, to build a fleet of VE25 eVTOLs and develop air travel solutions [4].

2025四川低空经济产业链生态大会13日在自贡开幕，四川省低空经济产业研究院（简称产业研究院）获 授牌正式成立。四川省低空经济产业研究院由四川省港航投资集团有限公司下属企业四川省低空经济产 业发展有限公司承载实施，是全国首个实体化运营的省级低空产业研究院。 四川省低空经济产业研究院采用政府引导、链主企业牵头、优势地区参与、市场化运营模式，由省级层 面统筹布局，以应用场景开发为牵引，以技术创新和系统集成为支撑，旨在推动低空经济建圈强链，形 成"政产学研资用"协同创新合力，为低空经济发展提供系统性支撑。其成立也是四川在深化低空空域协 同管理改革试点成果的基础上，进一步探索低空经济全链条发展创新模式的突破。 今年11月初，我国首次出台"场景培育开放"的政策，其中就包括支持全空间无人体系发展等内容；就低 空经济产业而言，当前发展普遍面临着场景应用不足、商业模式不成熟等痛点难点，亟需拓宽场景、丰 富应用。 "四川省低空经济产业研究院要针对应用场景开展研究，进一步突破低空经济产业发展瓶颈。"四川省低 空经济产业研究院相关负责人介绍，该院将围绕低空物流、短途运输、文旅观光、城市治理、应急救援 等主要应用场景，整合四川省内外 ...

Core Insights - Volant Aviation has completed a multi-billion B+ round financing, with investments from several listed companies, aimed at accelerating the certification and mass production of its VE25 eVTOL model [1][2] - The low-altitude economy is recognized as a strategic emerging industry in China, with eVTOLs being a key component of its commercialization [2] Financing and Investment - The financing round involved investments from five listed companies, including Jinding Capital, Bertley, Hailide, Aima Technology, and Jingzhuan Technology, which have extensive experience in intelligent manufacturing, new materials, and precision processing [1] - The funds will be used for the airworthiness certification and preparation for mass production of the VE25 eVTOL, accelerating its commercialization process [1] Market Potential and Industry Outlook - The founder and CEO of Volant Aviation, Dong Ming, emphasized that China has a solid foundation and significant market potential for the eVTOL industry, which could develop into a globally competitive new pillar industry similar to electric vehicles [2] - The low-altitude economy is entering a critical period of policy benefits, with eVTOLs representing the core vehicle for its commercialization, aligning with the "dual carbon" strategy and urban transportation upgrades [2]

Core Insights - Shanghai Volant Aviation Technology Co., Ltd. has completed a multi-billion B+ round financing led by Jinding Capital, aimed at accelerating the certification and mass production of its VE25 eVTOL model [1][2] - The low-altitude economy is recognized as a strategic emerging industry in China, with recent policy releases indicating strong governmental support for its development [2][4] - eVTOLs are positioned as a core vehicle for commercializing the low-altitude economy, aligning with China's dual carbon strategy and urban transportation upgrades [2] Company Overview - Volant, established in 2021, focuses on the development of commercial-grade eVTOLs, with its VE25 model featuring a composite wing design that balances safety and commercialization [2] - The company has achieved significant milestones, including being the first in the country to complete manned flight tests of a high-grade eVTOL and is leading in certification and order intentions [2][5] Investment Details - The recent investment round included participation from multiple listed companies in sectors such as intelligent manufacturing, new materials, and precision processing, all of which are optimistic about the low-altitude economy and Volant's prospects [4] - Jinding Capital's founder emphasized the transformative potential of eVTOLs for the aviation industry, viewing it as a multi-trillion market opportunity [5] Industry Context - The establishment of the Low Altitude Economy Division by the National Development and Reform Commission and the introduction of the Airspace Management Regulations reflect the government's commitment to fostering a more open and active low-altitude environment [2] - The industry is transitioning from concept validation to large-scale verification, with Volant at the forefront of this evolution [2]

11月14日，广和通盘中下跌2.03%，截至13:06，报25.58元/股，成交1.92亿元，换手率1.40%，总市值 230.36亿元。 截至9月30日，广和通股东户数7.95万，较上期减少3.54%；人均流通股6703股，较上期增加3.67%。 2025年1月-9月，广和通实现营业收入53.66亿元，同比减少13.69%；归母净利润3.16亿元，同比减少 51.50%。 分红方面，广和通A股上市后累计派现8.69亿元。近三年，累计派现6.20亿元。 资金流向方面，主力资金净流出2306.89万元，特大单买入441.54万元，占比2.30%，卖出1535.91万元， 占比8.00%；大单买入3789.35万元，占比19.75%，卖出5001.88万元，占比26.07%。 机构持仓方面，截止2025年9月30日，广和通十大流通股东中，香港中央结算有限公司位居第四大流通 股东，持股630.11万股，相比上期增加155.30万股。南方中证1000ETF（512100）位居第七大流通股 东，持股420.08万股，相比上期减少5.00万股。华夏中证1000ETF（159845）退出十大流通股东之列。 广和通今年以来股 ...