Core Insights - Anhui province is rapidly developing its low-altitude economy, leveraging both manned and unmanned aerial vehicles for various applications, including tourism, logistics, and emergency services [1][4] - The province has established itself as a leader in low-altitude airspace management reform, becoming the first in the Yangtze River Delta region to implement comprehensive reforms [1][3] Group 1: Low-altitude Economy Development - Anhui has become the third province in China to implement comprehensive low-altitude airspace management reforms, creating a dual-core driven industrial structure centered around Hefei and Wuhu [1] - The province has introduced a 1 billion yuan industry fund to support infrastructure development and entrepreneurial initiatives in the low-altitude economy [1][3] Group 2: Infrastructure and Applications - Six A-class general airports have been established in Anhui, with four already operational and two more under construction, alongside over 100 temporary landing points [2] - The province is focusing on digital and intelligent infrastructure, aiming to create a comprehensive network for airspace, flight routes, and landing facilities to ensure safe and efficient operations [2] Group 3: Industry Growth and Projections - The low-altitude economy in Anhui is projected to reach approximately 55 billion yuan by 2024, with over 300 companies involved in various segments of the aviation industry [3] - The province has seen significant growth in traditional aviation flights and drone operations, with traditional flights increasing by 33.52% and drone flight hours by 45.37% year-on-year [4]

今天，合肥正在成为低空经济"超级实验场"：产业集群的壮大，为低空经济打下了坚实的制造基 础；应用场景的创新，进一步助推低空经济的蓬勃发展。 由老机场改造而成的合肥骆岗公园内，已开放30余个低空应用场景，应用领域从外卖配送、文旅观 光逐步向通信导航、低空气象、无人机反制等方面拓展，融入全空间无人体系的低空应用场景更加丰 富，向"超级场景"加速演进。 无人机物流、城市空中交通、应急救援……2025世界制造业大会期间，近50家行业顶尖企业齐聚合 肥骆岗公园，向观众展示无人体系的各种前沿技术和新产品、新应用。展会现场负责人介绍，无人化、 智能化是低空经济发展的趋势，此次全空间无人装备最新技术和产品的集中亮相，旨在促进全空间无人 体系多场景示范与应用拓展，赋能未来产业生态构建。 包括庐江金牛航空飞行营地在内，合肥市低空载人飞行场景已开通约8条航线、累计飞行近6000架 次；98条常态化运行的物流航线，超12000架次载物飞行，逐步构建起高效协同的"城市空中物流配送网 络"；在公安、应急、生态环境、巢湖管理等部门推行低空公共服务场景，为亿航、零重力、峰飞等头 部企业提供特色定制场景…… 据统计，合肥已拓展4大类、22中类 ...

Core Viewpoint - The rapid development of Qian Dongnan Miaoling Mountain Area's aviation industry, particularly Qianlan General Aviation Co., is significantly supported by tax policies and services from local tax authorities, enabling the company to capitalize on new opportunities in the low-altitude economy [1][5]. Company Overview - Qianlan General Aviation Co. focuses on low-altitude sightseeing and flight training, facing challenges typical for startups, including high initial investments in airport construction, aircraft procurement, and personnel training [3]. - The company has been included in the "Low-altitude Economy Tax Benefit Key List" by the Huangping County Tax Bureau, which provides tailored tax solutions to address its operational difficulties [3][5]. Tax Benefits and Support - The tax bureau has implemented a series of policies, including VAT refunds, small and micro enterprise income tax reductions, and R&D expense deductions, helping the company maximize its benefits [3]. - A "chief service officer" from the tax bureau has been assigned to assist the company with tax filing processes, significantly improving efficiency [3][4]. Financial Impact - The company has successfully processed over 1.6 million yuan in tax refunds and reductions, which have been utilized for aircraft maintenance and pilot training, ensuring operational safety and standards [4]. - The financial relief from tax benefits has allowed Qianlan to launch new low-altitude flight routes and expand its training and educational services, accommodating over 17,000 students annually and training nearly 100 pilots [4]. Industry Development - Qianlan has hosted two AOPA International Flight Conferences and organized the 2023 National Light Aircraft Club Points Competition, establishing strategic partnerships with research institutions and manufacturers, contributing to industry clustering [5]. - The growth of Qianlan serves as a model for Huangping County's dual-driven approach to developing the low-altitude economy through policy and service enhancements [5].

Core Viewpoint - The development of Qian Dongnan Miaoling Mountain area in Guizhou, particularly through Qianlan General Aviation Co., is significantly supported by tax policies and services, facilitating the growth of the low-altitude economy [1][3]. Group 1: Company Overview - Qianlan General Aviation Co. focuses on low-altitude sightseeing and flight training, facing challenges typical for startups, such as high initial investments in airport construction, aircraft procurement, and personnel training [3]. - The company has successfully processed over 1.6 million yuan in tax refunds and reductions, which have been crucial for maintaining operations and safety standards [5]. Group 2: Tax Support and Policies - The local tax authority has included Qianlan General Aviation in the "Low-altitude Economy Tax Benefit Key List," providing tailored tax solutions and support [3]. - Tax benefits include VAT refunds, small and micro enterprise income tax reductions, and additional deductions for R&D expenses, maximizing the company's financial advantages [3][5]. Group 3: Business Growth and Impact - With the financial relief from tax benefits, Qianlan has launched new low-altitude routes, enhancing regional tourism and expanding its flight training and aviation education services [5]. - The company has hosted two AOPA International Flight Conferences and established strategic partnerships with research institutions and manufacturing companies, contributing to an industrial cluster effect [5]. Group 4: Future Outlook - The local tax bureau plans to continue optimizing services to support more general aviation enterprises, aiming to inject new momentum into the high-quality development of the local economy [6].

Group 1: Company Overview - Baoli International's main business, modified asphalt, is affected by local government debt risk resolution and significant changes in the real estate market supply-demand relationship [2] - The management team is focused on risk control, strengthening accounts receivable collection, and litigation recovery [2] - The company is transitioning to a light asset model in the general aviation sector, selling some owned aircraft at favorable prices [2] Group 2: Investment in Hongtai Technology - Baoli International plans to invest 1%-3% equity in Hongtai Technology, based on a positive outlook for the semiconductor testing equipment industry [5] - The investment will not exceed 5% of the latest audited net assets and aims to align with national strategic development [5] - Hongtai Technology's core products include SoC testing systems and chip-level packaging sorting systems, with a focus on domestic market needs [6] Group 3: Market Position and Collaboration - Hongtai Technology's next-generation high-end SoC testing equipment, MS8800, has passed key performance validations, with a low domestic market penetration of testing machines [6] - The collaboration with Hongtai Technology allows Baoli International to gain deeper insights into technology evolution and market demands in the semiconductor testing sector [7] - The core team of Hongtai Technology has extensive industry experience, with over 400 employees, a significant portion of whom are in R&D [8] Group 4: Future Plans and Risks - Baoli International is exploring transformation opportunities while maintaining stable development in traditional businesses [11] - The company emphasizes compliance with state-owned enterprise regulations and securities supervision in its future plans [11] - There are currently no specific follow-up capital operation plans after the investment in Hongtai Technology [9]

Core Insights - The first intercity low-altitude logistics flight using a 2-ton eVTOL aircraft was successfully launched, marking a significant milestone in the application of drone technology for agricultural product transportation [1] - The collaboration between multiple parties, including CITIC Offshore Helicopter and Peak Aviation, aims to explore sustainable development in the low-altitude economy through strategic partnerships [1][2] - The "low-altitude + logistics" model is seen as a viable economic opportunity, particularly in specialized transport scenarios such as mountainous regions and emergency deliveries [2] Summary by Sections Event Overview - On September 18, the Hefei-Huaining low-altitude logistics intercity cargo flight was inaugurated, utilizing a 2-ton eVTOL aircraft named "Kerry O" [1] - The flight covered a total distance of 160.8 km, transporting approximately 200 kg of blueberry juice and express parcels, with a flight duration of 1 hour and 5 minutes [1] - This event is the first of its kind globally to use a 2-ton eVTOL for intercity agricultural product transport [1] Strategic Collaborations - CITIC Offshore Helicopter led the organization of the flight activity, demonstrating its extensive operational capabilities in the low-altitude economy [1] - A strategic cooperation agreement was signed between CITIC Offshore Helicopter and the Hefei municipal government to explore low-altitude logistics, infrastructure development, and innovative business models [1] Economic Viability - The "low-altitude + logistics" concept is projected to be economically viable, with simulations indicating advantages in various transport scenarios [2] - The collaboration between CITIC Offshore Helicopter and Peak Aviation is viewed as a milestone in the application of large eVTOLs in logistics, with potential for ongoing partnership [2] Market Performance - The Huachuang Transportation Low Altitude 60 Index experienced a slight decline of 0.1% in the week of September 19, but has increased by 21% year-to-date [3] - Notable stock performances included significant gains for companies like Xiyu Travel and Guorui Technology, while Blue Ocean Huaten and others faced declines [3] Investment Recommendations - Key focus areas for investment include manufacturers of eVTOLs and drones, supply chain participants, and companies involved in low-altitude infrastructure development [4] - The industry is set to undergo in-depth research starting January 2024, with a focus on the low-altitude economy and its associated companies [4]

Core Viewpoint - CITIC Offshore Helicopter and Hefei Municipal Government have signed a strategic cooperation agreement to explore sustainable development in the low-altitude economy [1] Group 1: Strategic Cooperation - The cooperation will leverage CITIC Offshore Helicopter's extensive operational capabilities in the low-altitude economy and Hefei's advantages in industrial aggregation and scenario creation [1] - The focus areas of the collaboration include low-altitude unmanned cargo transportation, low-altitude infrastructure construction, business model innovation, and industrial ecosystem development [1]

近日，在沈阳法库财湖机场，我国首款双座电动直升机RX1H成功完成首飞。此次试飞表明我国在电动直升机领域的整机集成设计及电推进系统已达到 国际先进水平，填补了我国电动直升机领域的空白。 相较于传统燃油直升机，电动直升机具备零排放、低噪声、维护成本低等优势，符合国家"双碳"战略目标，在城市空中交通、应急救援、短途运输等领 域具有广阔应用前景。未来，研发团队将持续优化RX1H的性能，推动其早日投入商业化运营，助力我国航空产业抢占绿色科技制高点。 RX1H由辽宁通用航空研究院首席科学家、中航工业沈阳飞机设计研究所首席专家杨凤田教授团队主持研发。研发团队经过4年攻关，成功突破电动直 升机多学科设计优化、高能量密度电池集成、高效电驱系统、轻量化结构设计等十余项关键技术。在首飞测试中，RX1H电动直升机依次完成了空中悬停、 360度回转、前后左右机动等飞行科目，飞行过程稳定流畅，操控性能卓越。 图为我国首款双座电动直升机RX1H。 ...

Group 1 - The company, Baoli International, announced an investment in Nanjing Hongtai Semiconductor Technology Co., Ltd., acquiring 1%-3% equity based on a positive outlook for the semiconductor testing equipment industry [1] - As of June 30, 2025, the company's net assets were 949 million yuan, allowing for an investment amount of approximately 47.43 million yuan [2] - Nanjing Hongtai is recognized as a high-tech enterprise engaged in the R&D, production, and sales of semiconductor testing equipment, holding multiple honors and qualifications [2] Group 2 - Baoli International has no direct involvement in the semiconductor industry, focusing instead on asphalt material R&D and solutions for road surfaces, as well as general aviation operations since 2015 [2] - In the first half of 2025, the company reported a decline in both revenue and net profit, with total revenue of 519 million yuan, a year-on-year decrease of 54.61%, and a net loss of 6.88 million yuan compared to a profit of 9.79 million yuan in the same period last year [2] - The actual controller of the company changed to the Chizhou State-owned Assets Supervision and Administration Commission, making it a state-controlled listed company [3]

随着低空经济在文旅行业加速渗透，今年以来低空观光旅游持续火热。南都N视频记者获悉，日前，为进一步规范通用航 空空中游览市场监管工作，民航局正式发布《空中游览市场管理暂行办法》（以下简称《办法》），明确了开展空中游览 经营服务的通用航空企业需满足的要求，以及经营服务标准、监督与投诉处理等细则。其中提到：不得以体验飞行、体验 带飞的名义开展空中游览经营性活动。据悉，《办法》自2025年10月1日起施行。 严禁体验带飞开展空中游览经营性活动 在我国通用航空快速发展的背景下，运营单位或组织深度开发旅游观光市场和驾驶员执照培训市场，为公众参与空中游览 和体验带飞活动提供更多机会。各种形式的空中游览以及体验带飞活动逐年递增，更有假借体验带飞之名开展空中游览之 实的现象，导致不安全事件甚至飞行事故的发生，成为了公众关注的焦点。 值得注意的是，此次《办法》明确：不得以体验飞行、体验带飞的名义开展空中游览经营性活动。那么，什么是体验飞 行、体验带飞？ 根据民航局今年6月21日发布的规范性文件，空中游览是指以取酬为目的，在航空器中实施的以观光游览为目的的飞行活 动，包括异地短途观光。 该文件显示，体验带飞应当以为航空爱好者参与飞 ...