（文章来源：北京商报） 9月16日，针对网传"两架小鹏汇天eVTOL长春航展相撞"，北京商报记者从小鹏汇天获悉，当日下午， 在长春航展预演结束后，广东汇天通航参与双机编队演练的两架飞行器因飞行间距不足发生接触，其中 一架飞行器正常降落，另一架飞行器在着陆时发生机身受损起火。现场人员安全，相关部门已有序完成 现场处置工作。具体原因正在进一步调查中。 ...

新浪科技讯 9月16日晚间消息，今日，据媒体报道，在长春航展现场，两架小鹏汇天eVTOL（电动垂直 起降器）相撞后坠机。 小鹏汇天对此回应称：今天下午，广东汇天通航在长春航展预演结束后，参与双机编队演练的两架飞行 器因飞行间距不足发生接触，其中一架飞行器正常降落，另一架飞行器在着陆时发生机身受损起火。现 场人员安全，相关部门已有序完成现场处置工作。具体原因正在进一步调查中。（罗宁） 责任编辑：何俊熹 ...

Core Insights - The company, Aerospace Rainbow (002389), is currently engaged in systematically reviewing its low-quality and inefficient businesses and assets, and is actively working on their disposal [1] Group 1 - The company is addressing low-quality and inefficient operations [1] - The company is taking proactive measures to dispose of identified assets [1]

Core Viewpoint - The incident involving two XPeng Huaitian eVTOLs colliding and crashing at the Changchun Airshow raises concerns about safety and operational protocols in the emerging eVTOL industry [1] Group 1 - Two XPeng Huaitian eVTOLs were involved in a collision during a formation exercise at the Changchun Airshow [1] - One aircraft landed normally while the other sustained damage and caught fire during landing [1] - All personnel on site were reported safe, and relevant authorities managed the situation effectively [1] Group 2 - The cause of the incident is under further investigation, highlighting the need for thorough safety assessments in the eVTOL sector [1]

Core Viewpoint - The incident involving two Xiaopeng Huitian eVTOL aircraft at the Changchun Airshow highlights safety concerns in the emerging eVTOL industry, emphasizing the need for stringent operational protocols and safety measures [1] Summary by Categories Incident Details - On September 16, two Xiaopeng Huitian eVTOL aircraft were involved in a collision during a formation flight exercise due to insufficient flying distance [1] - One aircraft landed normally, while the other sustained damage and caught fire during landing [1] - All personnel on site were reported safe, and relevant authorities managed the situation effectively [1] Investigation and Response - The specific cause of the incident is currently under further investigation [1] - The event underscores the importance of safety protocols in the eVTOL sector, which is still in its developmental phase [1]

小鹏汇天回应长春航展坠机事件 9月16日，小鹏汇天回应第一财经有关长春航展事件时表示，今天下午，广东汇天通航在长春航展预演 结束后，参与双机编队演练的两架飞行器因飞行间距不足发生接触，其中一架飞行器正常降落，另一架 飞行器在着陆时发生机身受损起火。现场人员安全，相关部门已有序完成现场处置工作。具体原因正在 进一步调查中。据了解，长春航展现场，有两架小鹏汇天eVTOL（电动垂直起降器）相撞后坠机。 ...

Investment Rating - The report maintains an "Outperform" rating for the military industry [1] Core Views - The military industry is experiencing a revenue rebound, with significant increases in inventory and contract liabilities. In the first half of 2025, 141 listed companies in the military sector achieved a total revenue of 254.549 billion yuan, a year-on-year increase of 9.3%. However, the net profit attributable to shareholders decreased by 1.1% to 15.526 billion yuan [7][11][13] - The overall inventory of these companies reached 310.839 billion yuan, up 19.8%, while contract liabilities totaled 152.030 billion yuan, increasing by 14.9% [11][13] - The report suggests focusing on specific sub-sectors for investment opportunities, including the aircraft and aero-engine supply chain, missile and unmanned combat equipment, and military trade-related enterprises [17] Summary by Sections Industry Overview - The military industry is showing signs of recovery, with a notable increase in revenue and contract liabilities. The overall gross margin for the industry is 18.7%, which is a slight increase from the previous year [13][16] - The report indicates a shift in industry dynamics, with upstream electronic components benefiting first, followed by downstream core components and equipment [16] Market Performance - In the first two weeks of September 2025, the military sector indices experienced significant adjustments, with the defense and military industry index dropping by 7.90%, underperforming compared to the broader market [18][24] - The report highlights that the military sector's performance was negatively impacted after the "September 3" military parade, leading to a sell-off in military stocks [18][20] Company Dynamics - Notable companies in the sector include: - **博实股份**: Signed a major contract worth approximately 235.1132 million yuan [43] - **埃斯顿**: Became the first domestic robot brand to lead the Chinese industrial robot market with a market share of 10.5% [44] - **融发核电**: Reported a sufficient backlog of orders and is progressing according to production plans [46] - **中航西飞**: Expanding strategic cooperation with Airbus to meet production needs for the A320 series [47] - **晶盛机电**: Achieved domestic production of semiconductor equipment and is advancing global customer validation for silicon carbide substrates [48] Investment Recommendations - The report recommends focusing on ETFs related to the military sector, such as 富国中证军工龙头 ETF and 国泰中证军工 ETF, as potential investment vehicles [2]

有业内专家向第一财经记者表示，仅就视频材料来看，暂无法确认为相撞，实际情况报告没出来。初步 推断可能是电池管理系统出了问题。（第一财经记者 宋婕） 据观察者网，9月16日下午，在长春航展现场，两架小鹏汇天eVTOL（电动垂直起降器）相撞后坠 机。现场观众透露至少有一名乘客因此受伤，已送医就诊，暂无生命危险。 对此，小鹏汇天独家回应第一财经记者，正在确认信息，目前自媒体援引消息来源并非官方消息。稍后 将同步具体情况。 ...

有业内专家向第一财经记者表示，仅就视频材料来看，暂无法确认为相撞，实际情况报告没出来。初步 推断可能是电池管理系统出了问题。 小鹏汇天独家回应第一财经记者，正在确认信息，目前自媒体援引消息来源并非官方消息。稍后将同步 具体情况。 对此，小鹏汇天独家回应第一财经记者，正在确认信息，目前自媒体援引消息来源并非官方消息。稍后 将同步具体情况。 据观察者网，9月16日下午，在长春航展现场，两架小鹏汇天eVTOL（电动垂直起降器）相撞后坠机。 现场观众透露至少有一名乘客因此受伤，已送医就诊，暂无生命危险。 ...

9月16日下午，根据观察者网正在开展的长春航展现场，两架小鹏汇天eVTOL（电动垂直起降器）相撞 后坠机。 （图片来自网络） 据现场观众透露，至少有一名乘客因此受伤，已送医就诊，暂无生命危险。 有行业人士向观察者网分析称，eVTOL一般都兼容自动驾驶和人工操纵（遥控）两种模式，前一种模 式下航线规划存在缺陷、设备故障都有可能导致事故，后一种情况下还可能存在人员操作失误。他认 为，此次事件凸显了低空经济运行环境的复杂性，提醒全行业安全工作必须慎之又慎。 事故真实原因尚不明确，有待相关部门进一步调查取证。 责任编辑：何俊熹 ...