格隆汇12月30日｜纵横股份公告，本次向特定对象发行股票募集资金总额不超过人民币54,800.00万元 （含本数），扣除发行费用后的净额拟投资于无人值守与大型无人机系统产业化基地项目、无人机系统 研制与AI技术能力提升项目、补充流动资金与偿还借款。在上述募集资金投资项目的范围内，公司可 根据项目的进度、资金需求等实际情况，对相应募集资金投资项目的投入顺序和具体金额进行适当调 整，募集资金到位前，公司可以根据募集资金投资项目的实际情况，以自有或自筹资金先行投入，并在 募集资金到位后予以置换。 ...

来源：上海证券报·中国证券网 上证报中国证券网讯（记者何治民）12月30日，中国民航局适航审定运行管理系统显示，御风未来旗下无人机企业中山福昆航空科技有限公司（以下简 称"福昆航空"）型号为E40H的无人机成功获颁型号合格证，即TC证，编号为TC0105A-ZN。 对此，御风未来回应记者称，这是全球首个中型复合翼无人机型号合格证，也是全球首个混动无人机型号合格证。TC数据单显示，该型号合格证从2024年7 月29日申请，2025年12月30日正式批准，历时1年5个月。 对此，御风未来回应记者称，这是全球首个中型复合翼无人机型号合格证，也是全球首个混动无人机型号合格证。TC数据单显示，该型号合格证从2024年7 月29日申请，2025年12月30日正式批准，历时1年5个月。 TC数据单显示，E40H航空器机身全长3.78m，飞机全高0.99m，最大飞行速度为115km/h，最大飞行高度为1000m，最大起飞重量150公斤，空机重量100公 斤，最大载荷50公斤，最大飞行时间10小时（满油且最大起飞重量150kg），最大航程800公里（满油且最大起飞重量150kg）。 与此同时，TC数据单显示，该无人机的运行场景 ...

此次由市人力资源和社会保障局、市总工会联合主办，市工会职业技术学校、广东能飞航空科技发展有限公司承办的《2025年佛山市职工职业技 能大赛无人机驾驶员技能竞赛》意义深远，以职业技能竞赛为纽带，强化人才培养的导向作用，深入探索无人机驾驶技能人才培育的 "佛山路 径"。通过 "以赛促学、以赛促训" 的有效举措，精准提升无人机驾驶员的技能熟练度与综合能力，为佛山低空经济产业筛选优质技能人才、构建 系统化培育体系提供有力支撑。 能飞航空作为此次比赛的承办方，提供了专业的技术支持和赛事组织，确保了竞赛的顺利进行。通过此次比赛，能飞航空推动了无人机技术人才 的培养和选拔，为各行各业输送高质量的专业人才作出贡献。 本次竞赛采用个人赛制，吸引了全市及各区企业、院校的 80 余名选手踊跃报名参与。赛事设置一等奖 1 名、二等奖 2 名、三等奖 3 名、优胜奖若 干。 比赛精彩回顾 本次竞赛设置理论选拔、赛前培训、"理论 + 实操" 决赛三大阶段，内容既涵盖职业素养与安全规范相关理论考核，也包含无人机飞行操控、巡检 航线规划、定点投放等实操项目。为最大限度贴近实战场景，竞赛特意选用大疆 M300、NF6330 等行业主流设备，还 ...

Core Viewpoint - Sanrui Intelligent, the second-largest player in the global civil drone power system market, has received approval for its IPO on the Shenzhen Stock Exchange, marking its entry into the A-share market by the end of 2025. The market is scrutinizing the sustainability of its high growth performance [2][5]. Financial Performance - Sanrui Intelligent has shown rapid revenue growth, with reported revenues of 362 million yuan, 534 million yuan, and 831 million yuan for the years 2022, 2023, and 2024, respectively, resulting in a compound annual growth rate of 51.64% over the last three years [5]. - The company's net profit attributable to shareholders, after deducting non-recurring gains and losses, was 101 million yuan, 162 million yuan, and 321 million yuan for the same years. For the first half of 2025, the company achieved a revenue of 436 million yuan and a net profit of 153 million yuan [6]. - For the full year of 2025, Sanrui Intelligent expects revenues between 1.03 billion yuan and 1.1 billion yuan, representing a year-on-year growth of 23.88% to 32.29%. The net profit is projected to be between 400 million yuan and 430 million yuan, indicating a growth of 24.80% to 34.16% [6]. Business Structure - The company's revenue from motor products consistently accounted for over 42% of total revenue during the reporting period. The robot power system segment, established in 2018, has seen rapid growth but remains a minor contributor to overall revenue, with proportions of 7.21%, 6.38%, 5.26%, and 8.45% [7]. - The revenue concentration among the top five customers has increased, with their contributions to total revenue rising from 18.30% to 33.09% over the reporting period. The company maintains a diverse customer base, which can mitigate risks but may also increase management costs [7]. Fundraising and Investment Plans - The IPO proceeds will be fully allocated to projects related to the company's main business, including 406.55 million yuan for expanding drone and robot power system production, 257.76 million yuan for building a new headquarters and R&D center, and 104.58 million yuan for upgrading information systems and smart warehousing [8][10]. - The company has a high capacity utilization rate for its motor products, increasing from 73.79% in 2022 to 123.26% in 2024, indicating a necessity for expansion [10]. Cash Dividends and Financial Position - Sanrui Intelligent has distributed significant cash dividends, totaling 130 million yuan in 2023 and 40 million yuan in the first half of 2025, amounting to 170 million yuan. The major beneficiary of these dividends is the controlling shareholder, who holds 81.06% of the voting rights [11]. - Despite having ample liquid assets, the rationale behind raising funds while distributing dividends has raised questions regarding the company's financial strategy and necessity for additional capital [12].

今年5月，历经层层选拔，70个优秀项目脱颖而出，覆盖科技创新、数字经济、乡村振兴、社会企业四 大专项赛道，从物联网AI智能领域到新型工业技术，从新能源研究到绿色建筑产业先行，从小行星的 模拟试验到遥感视角下的气溶胶环境……充分展现山西青年在科技攻关、技术创新、产业升级等方面的 最新探索与实践。 团山西省委有关负责人表示，该赛事已连续举办12届，累计挖掘优秀青年创新创业项目1.4万个，推选 274个省赛精品项目冲刺国赛，获得3金5银29铜的优秀战绩，发掘培育了一大批扎根山西、服务产业的 青年创业项目和人才。 "挑战杯"大学生课外学术科技作品竞赛，全省58所高校9万余名师生参赛，评选优秀项目735个，最终10 个项目入围主体赛和"人工智能"专项赛国赛。从"挑战杯"到"创青春"，团山西省委多次邀请专家、创业 导师，帮助他们不断打磨项目、开拓事业。 "通过AI赋能，我们能精准识别苹果的糖度、褐变、软伤等，实现'无损分拣'，达到了行业的领先水 平。"近日，在山西运城的黄土高原上，一个个红彤彤的苹果，正悄然经历一场"数字革命"。00后青年 创业者翟裕景实践探索出的苹果种植、分拣、加工到销售的全产业链数字化体系，获团山西省 ...

Core Insights - China's artificial intelligence (AI) is transitioning from screens to manufacturing floors, integrating deeply into the economy and reshaping the industrial value chain [1][2] Group 1: AI Integration in Manufacturing - AI is increasingly utilized in Chinese factories, with robots handling tasks around the clock and sensors tracking assembly lines for real-time adjustments [1] - The collaboration between Jianghuai Automobile and Huawei has led to the development of the Zun Jie Super Factory, where AI systems enhance precision in manufacturing processes [2] - The production rate at GAC Aion's assembly line is approximately one vehicle every 53 seconds, showcasing the efficiency of AI-driven operations [2] Group 2: Industry Growth and Projections - By 2024, China is expected to account for over half of the global new industrial robot installations, surpassing Japan, South Korea, and the United States [2] - The core AI industry in China is projected to exceed 1.2 trillion yuan by 2025, with the digital economy expected to surpass 80 trillion yuan by 2030 [3] - The integration of AI in manufacturing is anticipated to drive growth in upstream and downstream industries, creating spillover effects and broader economic benefits [3] Group 3: Human Capital and Innovation - The number of engineers in China has surged from 5.21 million in 2000 to 17.65 million in 2020, significantly contributing to innovation in manufacturing [3] - Companies like DJI and Huawei are leveraging the innovative capabilities of engineers to rapidly iterate on products across various sectors, including electric vehicles and consumer electronics [3]

Core Insights - Anyang is at a historical crossroads, showcasing a blend of tradition and modernity, with significant advancements in various industries, particularly in the drone sector and high-end manufacturing materials [1] - The city is set to continue its development journey, focusing on the construction of "one highland, one area, and three centers" [1] Group 1: Low-altitude Economy Development - The release of the "Guidelines for Urban Low-altitude Air Traffic Management" and the "Action Plan for Promoting High-quality Development of Low-altitude Economy (2025-2027)" establishes a solid institutional foundation for Anyang's low-altitude economy [2] - The city is implementing a series of supportive policies, including tax reductions and financial subsidies for aviation-related enterprises, to encourage increased R&D investment [2] - Infrastructure development is accelerating with the establishment of general airports and drone take-off and landing points, enhancing the low-altitude flight service guarantee system [2] Group 2: Industrial Transformation and Innovation - Anyang is focusing on breaking free from its reliance on traditional steel industries by fostering new productive forces through technological innovation and advanced manufacturing [5] - The city is enhancing the integration of industrial and innovation chains, aiming for a dual improvement in scale and quality of industrial clusters [5][6] - The rise of strategic emerging industries is reflected in the increase of their added value to 19%, showcasing the strengthening of Anyang's "intelligent manufacturing" framework [6] Group 3: Cultural and Historical Significance - The city celebrated the 60th anniversary of the Hongqi Canal, emphasizing the enduring spirit of self-reliance and hard work [7] - The 2025 China (Anyang) International Chinese Character Conference highlighted the cultural heritage of Anyang, attracting over 50 international guests to explore the mysteries of Chinese characters [7] - Anyang's commitment to cultural transmission is evident through immersive reporting and the creation of cultural products that resonate with its historical significance [7] Group 4: Achievements in Healthcare and Technology - The 10th Rehabilitation Equipment Expo showcased innovative products from leading domestic companies, such as Xiangyu Medical, highlighting Anyang's strength in intelligent manufacturing [4] - The city is witnessing a transformation in the healthcare sector with the introduction of smart rehabilitation devices and emergency drones, contributing to the overall development of the low-altitude economy [6][8]

Core Viewpoint - The low-altitude economy in China is rapidly developing, transitioning from conceptual exploration to practical applications across various sectors, driven by policies and technological advancements in drones and eVTOLs [2][10]. Group 1: Industry Developments - China Post is piloting drone deliveries for agricultural products and medicines in 16 provinces, while Meituan has launched 65 drone routes in major cities, completing over 740,000 orders [1] - By the end of 2025, the Chinese market is expected to have approximately 3.5 million registered drones, 5,000 models, and 28,000 drone operators, with flight hours reaching 26.66 million [3] - The low-altitude market is witnessing a surge in orders, with companies like Yufeng Future securing 200 M1 series orders worth over 2 billion yuan at the 2025 China International Import Expo [4] Group 2: Infrastructure and Technology - Shanghai Telecom has established a digital infrastructure called "Zhiyun Shanghai" to support low-altitude economic development, enhancing delivery efficiency by nearly 50% for medical samples [5] - A comprehensive 5G-A low-altitude network has been deployed in Shanghai, enabling real-time airspace monitoring and communication for drones [6] - By the end of 2025, over 20 cities in China are expected to have established low-altitude takeoff and landing points, with Suzhou already having over 140 operational [7] Group 3: Investment and Financing - The low-altitude economy has seen 52 financing cases in the first half of 2025, with a total amount exceeding 1.7 billion yuan, indicating strong capital interest in eVTOL and drone systems [9] - Companies like Shike Technology and Wolant have successfully completed multiple rounds of financing, indicating a trend of cross-industry collaboration and investment in the low-altitude sector [9] Group 4: Future Outlook - The development of the low-altitude economy is expected to focus on safety, infrastructure, and technological integration, with projections indicating its contribution to GDP could rise from 0.3% to 1.2% by 2030 [10] - The year 2026 is anticipated to be a critical period for the establishment of low-altitude infrastructure and airspace management systems, paving the way for large-scale commercial operations of passenger eVTOLs [11]

横河精密 20251229 摘要 恒和精密在家电零部件领域与卡特、SED 松下等知名企业合作，受益于 智能家电市场稳定增长，预计 2025 年市场规模将接近 8,000 亿元，同 比增长 5%，为公司提供稳定收入来源。 公司在汽车零部件领域聚焦智能座舱和汽车轻量化，与华为、延锋安道 拓等合作，提供齿轮、执行器等产品。预计 2025 年中国智能座舱市场 规模达 1,564 亿元，同比增长 21%，汽车轻量化亦带来显著减重效果。 无人机业务是恒和精密未来发展重点，预计 2025 年全球市场规模达 3,800 亿元，工业级占比 65%。公司通过参股宁波狮子王、设立新加坡 合资公司、增资合水智能等举措，积极布局无人机全产业链及全球市场。 公司于 8 月 8 日参股 30%设立宁波狮子王（现持股比例提升至 50%以 上），聚焦无人飞行器销售；于 10 月 9 日参股 40%设立新加坡合资公 司，为工业级无人机提供海外制造基地；于 10 月 28 日增资 500 万元 持有合水智能 5%的股权。 市场对恒和精密无人机业务的成长空间存在质疑，但公司通过全面布局 制造与销售环节，以及全球化战略，有望超出预期。预计 2025- ...

人民财讯12月29日电，亿航智能宣布，12月28日在安徽省合肥市肥东白龙机场成功完成VT35新一代长 航程复合翼无人驾驶载人eVTOL首次公开飞行，充分验证了其安全、稳定及可靠的飞行性能，也标志 着亿航智能与合肥市低空经济战略合作的进一步深化，迈入多元化落地的新阶段。此外，当天EH216-S 及EH216-F也相继完成飞行。 ...