Core Insights - Shenzhen is leading the development of the low-altitude economy in China, integrating traditional logistics with low-altitude logistics to provide comprehensive services for smart city operations [1][2] - The city has made significant progress in low-altitude infrastructure construction, with various districts launching differentiated projects to support the low-altitude economy [1][2] - The development of low-altitude economy faces challenges such as airspace resource allocation and sustainable business models [1][2] Infrastructure Development - Shenzhen has fully initiated low-altitude infrastructure construction, with Nanshan District being the first to advance related projects [1] - Other districts like Longhua and Longgang are also starting their own projects, focusing on unique local characteristics [1][2] Policy and Regulation - The government needs to play a guiding role in infrastructure investment, as low-altitude flight heavily relies on systematic construction of takeoff and landing facilities [2] - Strengthening the central-local coordination mechanism is essential to overcome management barriers in cross-border logistics and transportation [2] Communication Networks - The debate between using dedicated networks versus public networks for low-altitude communication is ongoing, with dedicated networks showing significant cost advantages [3] - A dedicated network can cover a radius of 10 kilometers with only a few hundred base stations, compared to thousands needed for a public network [3] Market Expectations - The low-altitude economy is recognized as a national strategic emerging industry, requiring patient capital for cultivation [5] - The market's early optimism has been tempered, with a shift towards rational development and a focus on safety as a primary concern [5] Investment Focus - Investment should prioritize electric vertical takeoff and landing (eVTOL) technology, while addressing technical bottlenecks such as battery energy density and lightweight materials [6] - Infrastructure investment should concentrate on five key areas: perception, communication, navigation, monitoring, and meteorology [6] Commercial Viability - Open airspace is a core prerequisite for establishing a sustainable commercial ecosystem in low-altitude logistics [7] - The successful implementation of drone delivery services by companies like SF Express demonstrates the potential for cost-effective long-distance delivery [7]