Core Insights - The 27th China Hi-Tech Fair (CHTF) showcased over 5,000 new products and technologies, attracting more than 450,000 professional visitors and generating over RMB 170 billion in intended deals and financing, reaffirming its status as "China's No.1 Tech Show" [1] Group 1: Major Exhibits and Innovations - CNOOC presented Asia's first cylindrical floating production, storage, and offloading (FPSO) facility, Haikui 1, highlighting China's capabilities in deep-sea energy development [2] - China General Nuclear (CGN) showcased its indigenous third-generation nuclear technology, Hualong One, along with advanced new-energy equipment [3] - APT Satellite introduced groundbreaking innovations, including the world's first satellite-communication ultra-long-distance robotic surgery system and the EH216-S unmanned passenger aircraft [4] Group 2: Robotics and AI Technologies - Leju Robotics demonstrated its humanoid robot Kuavo and the GeneoX inspection robot dog, showcasing advancements in embodied intelligence and multi-brand integration [5] - Humanoid robots exhibited advanced capabilities such as front flips and L4 autonomous-driving adaptation, emphasizing technological sophistication [5] - Meituan's fourth-generation drone showcased low-altitude logistics by delivering 2.4 kg over a 5-km radius in 10 minutes [5] Group 3: Thematic Exhibitions and Ecosystem - The fair featured themed exhibitions on the OpenHarmony ecosystem and China's home-grown AI ecosystem, demonstrating how technology is reshaping everyday life [6] - Shenzhen's deep innovation ecosystem, established as a pilot SEZ in 1980, has transformed the city into a tech hub for major companies like Huawei and Tencent [7] - Policy support and industrial-chain strengths in the Greater Bay Area facilitate rapid commercialization and agile manufacturing, enabling quick prototype development [8] Group 4: Entrepreneurial Landscape - The new generation of entrepreneurs is redefining product categories, enhancing global competitiveness while avoiding IP risks [9]

Vi e w p o i n t | 13 Nov 2025 12:55:01 ET │ 17 pages Metal Matters China's aluminium demand still resilient as policy points to a structurally tighter market during 15th FYP CITI'S TAKE We upgrade our aluminum 0-3mth pt price to $2,950/t as the market increasingly pulls forward medium/long-term optimism, bringing current pricing closer to our 6-12mth target of US$3,000/t and reflecting an ongoing re-pricing of structurally bullish expectations well in advance of anticipated physical deficits. We also discu ...

Core Viewpoint - EHang Holdings Limited has announced a strategic partnership with China Road and Bridge Corporation to enhance the promotion and sales of EHang's pilotless aerial vehicles and accelerate the growth of the global low-altitude economy [1][4]. Company Overview - EHang is recognized as the world's leading urban air mobility technology platform, focusing on safe, autonomous, and eco-friendly air mobility solutions [7]. - The EH216-S is the first pilotless, human-carrying electric vertical takeoff and landing aircraft to receive multiple certifications from the Civil Aviation Administration of China [7]. Partnership Details - The partnership aims to leverage the strengths of both companies, with CRBC acting as an agent to promote EHang's products in international markets [4]. - CRBC has a significant global presence, operating in over 70 countries, which will support EHang's international expansion [4][9]. - The collaboration will focus on innovative models for international certification of autonomous aviation and expanding application scenarios in the low-altitude economy [6]. Recent Developments - EHang and CRBC participated in Aviation Africa 2025, where EHang completed its first human-carrying flight of the EH216-S in Africa, marking its global flight footprint expansion to 21 countries [5]. - The event was attended by notable figures, including Rwandan President Paul Kagame, highlighting the international recognition of Africa's potential in civil aviation [5]. Strategic Goals - The partnership is positioned as a pivotal step for EHang's international expansion and aims to drive the global low-altitude economy forward [6]. - Both companies are committed to delivering high-quality, efficient pilotless aerial vehicle solutions and enhancing integrated transportation networks [6].

Core Viewpoint - *ST Chengchang (001270) reported significant growth in its semi-annual performance, achieving a revenue of 201 million yuan, a year-on-year increase of 180.16%, and a net profit of 56.63 million yuan, marking a successful turnaround from losses [1] Group 1: Financial Performance - The company achieved a revenue of 201 million yuan in the first half of 2025, reflecting a year-on-year growth of 180.16% [1] - The net profit attributable to shareholders reached 56.63 million yuan, indicating a successful turnaround and substantial growth [1] - The growth in performance is attributed to the recovery in downstream market demand and the batch delivery of key projects across multiple core business segments [1] Group 2: Research and Development - The company invested 52.81 million yuan in R&D during the first half of the year, representing a year-on-year increase of 45.01% [1] - The R&D investment supports the development of new equipment across various fields and provides a core technology reserve for future growth [1] - The company is enhancing cost control and automation capabilities, leading to improvements in both production capacity and efficiency, which helps maintain stable gross margins [1] Group 3: Market Position and Product Development - In the satellite field, the company maintains a leading advantage, with projects entering small batch production in 2024 and expanding product models [2] - The company collaborates closely with downstream users in the low Earth orbit satellite sector, focusing on the iterative development of satellite communication T/R chip solutions, with new products now in mass delivery [2] - The company has accumulated a significant number of project reserves in the ground segment and is steadily advancing based on customer rhythms [2] Group 4: Competitive Advantages - The T/R chip, as a core component of phased array wireless transceiver systems, has high technical barriers and qualification requirements [3] - The company has established itself as one of the few private enterprises with tier-three and tier-four supporting capabilities, leveraging years of technical accumulation and a flexible organizational response mechanism [3] - The company has built a solid customer and market foundation within the industry chain, participating in national key projects [3]

Core Insights - EHang Holdings Limited has successfully completed intercity round trip cargo delivery flights using its VT20 series logistics eVTOL aircraft, marking a significant advancement in urban air mobility within the Guangdong-Hong Kong-Macao Greater Bay Area [1][4][5] Company Developments - The VT20 series UAV completed a one-way flight of 83 kilometers in approximately 55 minutes, enhancing logistics efficiency by saving up to 40 minutes compared to road transport [1][5] - The UAV has been operational for over a year in the Wanshan Archipelago, establishing a comprehensive drone logistics network [6] - EHang is collaborating with Wanyi Tianxia and other partners to develop a new logistics corridor connecting coastal islands and central cities, aiming to create an "Air Postal Network" across the Greater Bay Area [6][7] Industry Impact - The successful flights validate the feasibility of UAVs for long-distance logistics, particularly for time-sensitive cargo such as fresh produce and pharmaceuticals [5][6] - The low-altitude economy is emerging as a strategic focus for industrial development, with efforts to build maritime infrastructure and expand aerial corridors across the Greater Bay Area [7] - EHang's commitment to intelligent aircraft systems and integrated solutions positions it as a leader in the low-altitude economy, with plans to develop operational frameworks and standards for safety and services [7][8]

Group 1 - The article highlights the importance of weekly announcements from Sunday to Thursday, which include significant stock market updates such as suspensions, increases or decreases in holdings, investment wins, acquisitions, earnings reports, unlocks, and high transfers [1] - Key sectors mentioned include rare earth permanent magnets, humanoid robots, low-altitude economy, and new energy vehicles, with a company already supplying small batches to downstream humanoid robot clients and receiving new export licenses for rare earth-related items [1] - The article also discusses the integration of water conservancy, humanoid robots, and artificial intelligence, noting that a company has successfully sold multiple intelligent operation and maintenance robots for rail transit to clients [1] Group 2 - The company is set to mass-produce 800G optical module products and has won a 1.5 billion yuan contract for a marine energy project, indicating strong growth potential in the optical and marine sectors [1]

Core Viewpoint - The First Meteorological and Economic Expo showcased the integration of meteorology into various industries, highlighting its role as a key driver for technological advancement and economic growth [2][4][8]. Group 1: Expo Overview - The Expo was held from July 18 to 20, 2025, at the Hefei Binhu International Convention and Exhibition Center, organized by the China Meteorological Service Association [1]. - The theme of the Expo was "Integrating Meteorology into the New Economy, Joining Hands to Create a Better Future," presenting a comprehensive landscape of the meteorological economy for the first time [2]. Group 2: Exhibitors and Technologies - Over a hundred exhibitors from more than 20 fields, including meteorology, artificial intelligence, low-altitude economy, transportation, tourism, healthcare, and financial insurance, participated in the Expo [3]. - Innovative meteorological technology products were showcased, such as intelligent integrated drones, laser virtual wind towers, and air cannons for smog dispersal and hail suppression [3][7]. Group 3: Industrial Connections - The Expo facilitated connections among industrial, capital, and innovation chains, creating a full-lifecycle industrial service system through investment introductions, industrial matchmaking, and technology pairing [4]. - Exhibiting enterprises achieved precise connections and efficient transformations through product displays and supply-demand matchmaking [4]. Group 4: Advancements in Meteorological Services - High-tech meteorological products, including cloud-penetrating detection drones and pocket-sized weather stations, were introduced, shifting reliance from reactive to proactive meteorological services [7]. - The Expo served as a crucial hub for advancing the meteorological economy from concept to practice, emphasizing the integration of meteorology into everyday life [8]. Group 5: Educational and Scientific Exchange - The Expo featured a dedicated zone for university scientific exchange and introduced investment and financing institutions, pooling innovative resources to support enterprise innovation and industrial development [12]. - Popular science initiatives were highlighted, making meteorological knowledge accessible through interactive experiences and educational resources [11]. Group 6: Participation and Future Outlook - Nearly 2,000 participants, including government representatives, international organizations, and industry professionals, attended the Expo, marking a significant moment in the development of the meteorological economy [14]. - The China Meteorological Service Association celebrated its 10th anniversary during the Expo and aims to continue driving innovation and cooperation in the meteorological economy [15].

Core Viewpoint - EHang Holdings Limited has entered into a strategic partnership with Reignwood Aviation Group to develop the low-altitude economy in China, focusing on integrating traditional aviation with next-generation eVTOL aircraft [1][7]. Group 1: Partnership Objectives - The partnership will initially focus on consumer applications such as low-altitude tourism and will expand to build a three-dimensional urban transportation network over time [2]. - Long-term goals include expanding into various low-altitude services such as passenger transportation, aerial logistics, and emergency response [2]. Group 2: Infrastructure and Services - EHang and Reignwood plan to establish integrated low-altitude service hubs that will offer flight demonstrations, aircraft takeoff and landing services, energy supply, and maintenance [3]. - A digitalized fleet management platform will be developed to support high-density and high-frequency low-altitude UAV and eVTOL flights [3]. Group 3: International Expansion - The partnership aims to promote local airworthiness certification and deploy the EH216-S eVTOL in key tourist areas in Southeast Asia, such as Bangkok and Phuket [4]. - This collaboration seeks to replicate China's low-altitude economy model in the ASEAN region, fostering the development of UAM ecosystems [4]. Group 4: Company Background - EHang is recognized as a leader in urban air mobility technology, having received the world's first airworthiness certificate for a pilotless aircraft [8]. - Reignwood Aviation Group is a top private general aviation enterprise in China, with a fleet of over 60 aircraft and a total investment of RMB 2.0 billion [5][9].

Core Insights - EHang Holdings Limited has received a purchase order for 50 units of its EH216-S pilotless eVTOL aircraft from Guizhou Scenic Tourism Development Co., Ltd, aimed at enhancing low-altitude aerial tourism services in scenic areas [1][7][8] - The company has entered a cooperation agreement with the Management Committee of the Economic and Technological Development Zone of Anshun City to develop a flagship model of technology-enabled cultural tourism in Guizhou province [2][5] - Guizhou province is focusing on the development of the low-altitude economy, with plans to establish various low-altitude tourism, logistics, and emergency scenarios as part of its Three-Year Action Plan for 2025-2027 [4][6] Company Developments - EHang's EH216-S has obtained the world's first type certificate, production certificate, and standard airworthiness certificate for pilotless eVTOL from the Civil Aviation Administration of China [9] - The company is working closely with certified air mobility operators to advance the safe operation and commercial deployment of the EH216-S, marking a significant milestone in its strategic expansion into low-altitude tourism [8][9] - EHang aims to leverage Guizhou's rich tourism resources to enhance regional mobility and logistics through innovative eVTOL solutions [8][9] Industry Context - The Guizhou Provincial Government is actively supporting the growth of the low-altitude economy, designating Anshun as a demonstration zone for its development [4][8] - The cooperation between EHang and local authorities is expected to attract high-end talents and cutting-edge technologies, driving the local low-altitude industry towards a more advanced and sustainable future [6][8] - Guizhou Tourism Group is committed to promoting high-quality development in the tourism sector, with the introduction of pilotless aircraft expected to enhance the visitor experience [7][8]

CHANG | | 2 EHang Holdings Limited Q1 2025 Operational & Financial Results Notes: The photo shows EH216-S's flight in Benidorm, Spain, in February 2025. GHVNG IIZAL www.ehang.com Disclaimer These materials have been prepared by EHang Holdings Limited (the "Company") solely for informational purposes and have not been independently verified. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness or correctness of the information or op ...