Core Insights - The low-altitude economy is emerging as a strategic new industry, driven by advancements in technology, policy, and capital, with the potential to unlock a trillion-yuan market [3][10] - The investment landscape in the low-altitude economy is characterized by a focus on the entire industry chain, from manufacturing to operational services, with a managed fund size exceeding 6 billion yuan [3][4] Industry Overview - The low-altitude economy encompasses various applications, including drone delivery, medical emergency services, and urban air mobility (UAM) [4][10] - Drone delivery has transitioned from concept validation to large-scale operations, significantly reducing delivery times from hours to minutes in 42 cities across China [4] - The eVTOL (electric Vertical Take-Off and Landing) aircraft is becoming a focal point for global competition, with successful test flights conducted by several Chinese companies [4][7] Technological Innovations - Key technological advancements in the low-altitude economy include improvements in battery energy density and flight control system reliability for eVTOL platforms [7] - The integration of the BeiDou system for precise navigation and 5G-A technology for enhanced communication and monitoring is crucial for low-altitude operations [7] Investment Strategy - The investment approach emphasizes "patient capital," focusing on the synergy of the entire industry chain and the construction of an industrial ecosystem [8] - The investment logic revolves around a closed loop of "scenarios-technology-infrastructure," aiming to drive technological progress through real application demands [8] Challenges and Future Outlook - The development of the low-altitude economy faces challenges such as regulatory standards, safety assurance, and economic viability [10] - The industry is viewed as a long-term endeavor requiring collaboration among policymakers, technology developers, capital providers, and market participants to foster sustainable growth [10]