Regal Rexnord (NYSE:RRX) Q4 2025 Earnings call February 05, 2026 10:00 AM ET Company ParticipantsJeffrey Hammond - Managing DirectorJoe Ritchie - Managing DirectorLouis Pinkham - CEONigel Coe - Managing DirectorRandy Marker - Equity Research AssociateRob Barry - VP of Investor RelationsRobert Rehard - CFOTomohiko Sano - Managing DirectorConference Call ParticipantsChristopher Glynn - Equity AnalystJulian Mitchell - Equity Research AnalystMichael Halloran - Associate Director of Research and Senior AnalystOp ...

Core Viewpoint - The article highlights the successful public flight of the world's largest eVTOL, the V5000 Tianji Long, developed by Fengfei Aviation Technology, marking a significant milestone in the eVTOL industry [1][2]. Group 1: Product Development and Features - Fengfei Aviation has introduced the world's first 5-ton eVTOL, the V5000 Tianji Long, which successfully completed a conversion flight, making it the only company to achieve this feat to date [2]. - The V5000 Tianji Long features a maximum range of 250 kilometers for the pure electric version and up to 1500 kilometers for the hybrid version, with a passenger capacity of 10 and the ability to transport ton-level cargo [7]. - The introduction of the Tianji Long represents a significant advancement in eVTOL capabilities, allowing for heavier payloads and longer ranges, thus enhancing the economic feasibility of low-altitude travel and transport [7]. Group 2: Market Potential and Applications - The eVTOL industry is experiencing rapid growth, with increasing demand for point-to-point flights in regions with large distances, such as western provinces of China and Southeast Asian island nations [9]. - The Tianji Long is expected to facilitate direct flights under two hours between locations that currently require significantly longer travel times by high-speed rail or conventional aircraft [7]. - The low-altitude economy is recognized as a promising industry, with government support reflected in recent work reports and the 14th Five-Year Plan [9]. Group 3: Industry Trends and Future Outlook - The integration of the eVTOL supply chain in China is notable, with 75% of eVTOL components derived from the electric vehicle supply chain, indicating a trend of collaboration between automotive and aviation sectors [9]. - The commercial operation of eVTOLs is anticipated to begin in tourism and sightseeing by the end of 2027, positioning China as a global leader in eVTOL commercialization [9].

本报讯(记者金婉霞)2月5日，由上海峰飞航空科技有限公司(以下简称"峰飞航空")自主研发的全球首款5 吨级eVTOL——V5000天际龙正式亮相并在峰飞航空白莲湖低空基地完成转换飞行。这标志着峰飞航空 成为全球首家、也是目前唯一成功实现5吨级eVTOL转换飞行的企业，为全球eVTOL行业10座载人和吨 级载重的"重量级"提升奠定了坚实的基石。 据介绍，载荷和航程是衡量eVTOL效率和价值的重要指标，目前主流产品的载荷集中在1.5吨到3吨起飞 重量、载客4人到6人的规模。此次，峰飞航空的天际龙创造了多项"全球领先"：全球首款5吨级 eVTOL、全球最大eVTOL、全球首款成功完成转换飞行和基础性能包线的5吨级eVTOL等。该款eVTOL 的纯电版最大航程达250公里，混动版最大航程可达1500公里；客运版可搭载10人，货运版可实现吨级 货物运输，助推大载重航空器向"重型空中平台"突破。 资料显示，峰飞航空于2017年成立，致力于通过eVTOL产品技术创新，以系统化能力打造安全可靠的 解决方案，助力立体交通变革。该公司产品主要包括大型eVTOL货运航空器、6座载人航空器、5吨级 航空器以及eVTOL零碳水上机场等 ...

2月5日，智通财经获悉，峰飞航空科技自主研发的全球首款5吨级eVTOL V5000天际龙亮相，并在峰飞 航空白莲湖低空基地完成转换飞行。标志着峰飞航空天际龙成为全球最大eVTOL、全球首款成功完成 转换飞行和基础性能包线的5吨级eVTOL，有望重新定义低空交通运输的广度和效率，也证明中国企业 在eVTOL这一前沿科技领域已具备引领全球的实力。 据悉，eVTOL产业正处于快速发展期，载荷和航程是衡量效率和价值的重要指标，目前主流产品集中 在1.5-3吨起飞重量、载客4-6人的规模。天际龙首次将eVTOL的起飞重量提升至5吨级，带来更大的载 重和更远的航程：纯电版最大航程250公里，混动版最大航程可达1500公里。客运版可搭载10人，货运 版可实现吨级货物运输，助推大载重航空器向"重型空中平台"的跨越式突破。（智通财经记者 邵冰 燕） 据悉，eVTOL产业正处于快速发展期，载荷和航程是衡量效率和价值的重要指标，目前主流产品集中 在1.5-3吨起飞重量、载客4-6人的规模。天际龙首次将eVTOL的起飞重量提升至5吨级，带来更大的载 重和更远的航程：纯电版最大航程250公里，混动版最大航程可达1500公里。客运版可搭 ...

新浪科技讯 2月5日下午消息，峰飞航空科技自主研发的全球首款5吨级eVTOL——V5000天际龙正式亮 相，并在峰飞航空白莲湖低空基地完成转换飞行。这标志着峰飞航空成为全球首家、也是目前唯一成功 实现5吨级eVTOL转换飞行的企业。 据介绍，峰飞航空天际龙创造了多项"全球领先"：全球首款5吨级eVTOL、全球最大eVTOL、全球首款 成功完成转换飞行和基础性能包线的5吨级eVTOL。eVTOL产业正处于快速发展期，载荷和航程是衡量 效率和价值的重要指标，目前主流产品集中在1.5-3吨起飞重量、载客4-6人的规模。天际龙首次将 eVTOL的起飞重量提升至5吨级，带来更大的载重和更远的航程——纯电版最大航程250公里，混动版 最大航程可达1500公里。客运版可搭载10人，货运版可实现吨级货物运输。 新浪科技讯 2月5日下午消息，峰飞航空科技自主研发的全球首款5吨级eVTOL——V5000天际龙正式亮 相，并在峰飞航空白莲湖低空基地完成转换飞行。这标志着峰飞航空成为全球首家、也是目前唯一成功 实现5吨级eVTOL转换飞行的企业。 据介绍，峰飞航空天际龙创造了多项"全球领先"：全球首款5吨级eVTOL、全球最大eVT ...

天际龙将开发客运版和货运版两个版本，客运版可搭载10人，货运版可实现吨级货物运输，助推大载重 航空器向＂重型空中平台＂的跨越式突破。 5吨"重量级"eVTOL将低空应用场景拓展至城际商务出行、重型支线物流运输、大型应急救援等多元化 领域。 新华财经上海2月5日电（记者王鹤）低空飞行器制造企业峰飞航空科技2月5日发布自主研发的全球首款 5吨级电动垂直起降飞行器（eVTOL）——V5000天际龙，并在峰飞低空基地公开完成全流程转换飞 行。天际龙具备10座载人能力，最远航程可达1500公里。 峰飞航空天际龙创造了多项"全球领先"：全球首款5吨级eVTOL、全球最大eVTOL、全球首款成功完成 转换飞行和基础性能包线的5吨级eVTOL。这一系列突破意味着中国企业在这一前沿领域具备领跑全球 的实力。 eVTOL产业正处于快速发展期，载荷和航程是衡量效率和价值的重要指标，目前主流产品集中在1.5-3 吨起飞重量、载客4-6人的规模。天际龙首次将eVTOL的起飞重量提升至5吨级，带来更大的载重和更远 的航程。 值得关注的是，天际龙纯电版最大航程250公里，混动版最大航程1500公里。 纯电版可覆盖如长三角、珠三角、京津冀三 ...

峰飞航空今日发布5吨级eVTOL-V5000天际龙，并在白莲湖低空基地完成转换飞行，这是全球最大 eVTOL。 目前主流eVTOL集中在1.5-3吨起飞重量、载客4-6人，天际龙将起飞重量提升至5吨级，客运版可搭载 10人，货运版可实现吨级货物运输，应用场景拓展至城际商务出行、重型支线物流运输、大型应急救援 等领域。 （文章来源：第一财经） ...

Core Viewpoint - Wolffly Chang Kong has completed nearly 1 billion financing, marking the largest single financing in the low-altitude economy at the beginning of 2026, aimed at accelerating the certification of the AE200 series and establishing a global headquarters [2] Group 1: Company Overview - Wolffly Chang Kong Technology Development Co., Ltd. focuses on low-altitude operations and is a new aviation enterprise under Geely Technology Group, specializing in vertical take-off and landing, new energy power, and intelligent driving [2] - The company has successfully completed flight test verification for the 2.5-ton class tilt-rotor eVTOL, leading the nation in key technology breakthroughs and certification progress [2] Group 2: Financing and Strategic Partnerships - The recent financing round was led by CITIC Securities, with participation from various investment institutions, including Lianxin Capital and Xiangfeng Investment, among others [2] - Wolffly Chang Kong has established strategic partnerships with several companies, including "ICBC Financial Leasing" and "CITIC Heli," securing hundreds of aircraft orders for applications in passenger transport, tourism, and business travel [2] Group 3: Low-Altitude Economy and Material Innovation - The low-altitude economy relies on low-altitude airspace and promotes the integration of related fields, but eVTOLs face inherent disadvantages in payload and range compared to traditional aircraft due to the weight and volume of electric propulsion systems [4] - Modified nylon materials are expected to replace some metal materials in eVTOLs due to their lightweight, high strength, and excellent fatigue resistance, making them suitable for various components [4] Group 4: Upcoming Conference - DT New Materials will host the "2026 Advanced Nylon Industry Innovation and Application Development Conference" in Guangzhou on March 19-20, 2026, focusing on the latest advancements in nylon technology and applications [8][13] - The conference aims to gather industry leaders, experts, and end-users to explore high-quality development paths for the nylon industry, particularly in emerging applications like low-altitude vehicles and robotics [13][14]

Core Viewpoint - The article highlights the significant financing achievement of WoFei ChangKong, a leading eVTOL manufacturer in China, which completed nearly 1 billion in a new round of financing, setting a record for the low-altitude economy sector at the beginning of 2026 [4][5]. Financing and Market Position - The financing round was led by CITIC Securities, with participation from several well-known institutions, indicating strong market confidence in WoFei ChangKong's technological capabilities and commercial prospects [5][7]. - WoFei ChangKong has completed five rounds of independent market financing, establishing a diverse and high-value shareholder structure that supports its strategic depth and global vision [7]. Technological and Operational Advancements - The company aims to create a reliable and sustainable low-altitude travel experience, focusing on independent research and positive design, and has developed a comprehensive capability covering product development, airworthiness certification, manufacturing, and commercial operations [9]. - In 2025, WoFei ChangKong achieved significant milestones, including the successful test flight of the AE200-100 production model and the completion of the first phase of its global headquarters [9][10]. Market Development and Future Outlook - WoFei ChangKong has initiated the first domestic "civil aviation + low-altitude travel" collaborative demonstration and has received over 1,000 orders, showcasing global recognition of Chinese manufacturing [10][12]. - The company is positioned as a leader in the low-altitude economy, focusing on core technologies and sustainable capabilities, which are critical for its future growth and market competitiveness [12][13].

Investment Rating - The report maintains a "Recommendation" rating for the company, indicating a positive outlook for the stock's performance in the near term [1]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 850 million to 1.05 billion yuan in 2025, representing a year-on-year growth of 30.1% to 60.7%, with a median estimate of 950 million yuan, reflecting a 45% increase [7]. - The company is focusing on a dual strategy of general aviation and eVTOL (electric Vertical Take-Off and Landing) to drive growth, supported by favorable government policies and market conditions [7]. - The report highlights the company's strong performance in the automotive lightweight metal parts business and the robust order book in the general aviation aircraft manufacturing sector [7]. Financial Performance Summary - **Revenue Forecast**: The total revenue is projected to grow from 16,264 million yuan in 2024 to 19,879 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 10.5% [2]. - **Net Profit Forecast**: The net profit is expected to increase from 653 million yuan in 2024 to 1,429 million yuan in 2027, with a significant growth rate of 50.6% in 2025 [2]. - **Earnings Per Share (EPS)**: EPS is forecasted to rise from 0.31 yuan in 2024 to 0.67 yuan in 2027, reflecting the company's improving profitability [2]. - **Valuation Metrics**: The price-to-earnings (P/E) ratio is projected to decrease from 50 times in 2024 to 23 times in 2027, indicating a more attractive valuation as earnings grow [2]. Business Strategy and Market Position - The company is strategically positioned as a leader in the low-altitude economy, with a focus on expanding its product matrix through acquisitions, such as the purchase of Volocopter, which enhances its eVTOL offerings [7]. - The report emphasizes the importance of government support for the low-altitude economy, particularly with the new Civil Aviation Law set to take effect in July 2026, which encourages innovation and development in the general aviation sector [7]. - The company is actively developing new aircraft models and enhancing its production capabilities to meet the growing demand in both the general aviation and eVTOL markets [7].