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。 ...

IPO Review and Registration Progress - Last week, 9 IPO applications were approved, including companies like Shenglong Co., Fuen Co., and others aiming for various stock exchanges [2] - Dapu Micro, the first unprofitable company to be accepted for the ChiNext board, plans to raise approximately 1.878 billion yuan for R&D and production projects [2] - The listing committee questioned Dapu Micro about the sustainability of its performance growth, projecting a potential turnaround to profitability by 2026 [2] - Vision Technology, aiming to raise 2.015 billion yuan, is focused on silicon-based OLED micro-displays and has not yet achieved profitability [3] - Sanrui Intelligent, a manufacturer of drone and robot power systems, reported expected revenue of 8.09 billion yuan and net profit of 3.18 billion yuan for the first three quarters of 2025 [3] New IPO Applications and Market Dynamics - A total of 29 new IPO applications were accepted last week, with over 40% from the ChiNext board [9] - Notable companies include Hengyi Energy and Youbang Technology, which are pursuing the first set of listing standards [9] - The Science and Technology Innovation Board saw five companies apply, including Xinnoway, which focuses on innovative drug development [9][10] - The North Exchange welcomed nine new IPO applications, with companies like Jiren Pharmaceutical and Guogui Technology participating [10] Upcoming IPOs and New Stock Listings - This week, four new stocks are set to be listed, including Yufan Technology and Qiangyi Co., with respective issue prices of 22.29 yuan and 85.08 yuan [12][13] - Qiangyi Co. focuses on probe cards for wafer testing, projecting revenue of 6.47 billion yuan for the first three quarters of 2025 [13] - The previous week saw five new stocks listed, all achieving significant first-day gains, with Nabaichuan's stock price increasing by 408.18% [12]

Group 1 - The concept of "low-altitude economy" was first proposed in 2009 and defined in 2010, focusing on activities within 1000 meters of the ground, utilizing drones, eVTOLs, helicopters, and flying cars, integrating new technologies like AI and Beidou for various sectors [1][3] - The low-altitude economy is expected to significantly contribute to GDP as applications in logistics, urban air mobility, tourism, emergency rescue, and agricultural protection expand [1] - 2024 is anticipated to be the "Year of China's Low-Altitude Economy," with a series of supportive policies being introduced by various government departments to establish a comprehensive development framework [3][4] Group 2 - The introduction of the "Low Altitude Airspace Management Regulations" aims to create a unified low-altitude flight service guarantee system, reducing operational barriers for businesses [4] - The Civil Aviation Administration of China has initiated a pilot program for low-altitude airspace management reform, expanding trials to multiple provinces to facilitate dynamic use and flexible allocation of airspace below 3000 meters [5] - Companies like AVIC Zhixing are emerging as leaders in the drone industry, focusing on intelligent systems for drones, with products widely used in defense, logistics, and law enforcement [6] Group 3 - The low-altitude economy is expected to transition from a policy incubation phase to a realization phase over the next decade, with significant contributions to a trillion-level output value [7] - AVIC Zhixing plans to leverage its technological advancements and industry advantages to provide comprehensive drone lifecycle solutions across various sectors [7]

近日，在2025年粤港澳大湾区低空经济高质量发展大会上，广东省市场监督管理局发布4项地方标准， 标志着我省在无人机技术创新、应用场景拓展及标准化建设方面取得突破性进展，为全国低空经济发展 提供借鉴。 本次发布的4项标准覆盖海岛物流、农业生产、测绘工程三大领域，形成"海陆空"全场景应用标准矩 阵，填补行业空白，引领技术革新。 全国首个针对海岛场景无人驾驶航空器快件运输服务的地方标准《无人驾驶航空器海岛快件运输服务指 南》紧密结合广东海岛地理与气候特性，从服务能力保障、服务提供、服务安全、服务评价与改进四大 环节提出了全链条、可操作的指引。 同日，在"低空赋能，百业焕新——低空经济创新应用场景及要素支撑"专题报告会上，省市场监管局专 题报告了标准赋能低空经济工作。近年来，省市场监管局以标准引领低空经济产业高质量发展，立项编 制低空经济领域省级地方标准13项，组织发布90多项团体标准，覆盖低空经济产业多个环节，为标准化 助力产业发展奠定良好基础。接下来，省市场监管局将进一步加强低空经济领域标准体系谋划布局，打 造覆盖基础标准、通用标准和低空服务标准的低空经济领域标准体系。 《无人机监测松材线虫病致死松树技术规程》规 ...

Group 1 - The first Ablefly National Drone Football Championship will take place in Chengdu from February 7 to 9, 2026, marking a significant event that combines technology and sports, and aims to create a new trend in the low-altitude economy and tech sports [1][3] - Drone football has rapidly evolved from a niche activity in 2019 to a recognized sport, with plans to be included in the National Games by 2025, showcasing China's shift from following to leading in this innovative field [3][4] - The event is co-hosted by the China Aeronautics Association and the Chengdu Municipal Government, enhancing its authority and influence while ensuring resource integration and execution capabilities [4] Group 2 - The competition structure and participation mechanisms have been completely restructured to break past regional barriers and scale limitations, achieving the vision of "ten thousand participants" [4] - The Ablefly Drone Football Open has been launched across six major regions in China since November 2025, serving as a prelude to the finals and gradually expanding the event's influence [4] - The sport emphasizes inclusivity, allowing mixed-gender teams and participants aged 6 to 65, making it a truly universal tech sport [8][12] Group 3 - The low-altitude economy is projected to reach a market size of 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035, with drone football becoming a key driver in this emerging sector [12] - Chengdu aims to become the "first city of drone football in China," with plans to establish a comprehensive policy framework to support the development of the industry by 2028 [12][13] - The establishment of the Shuangliu District Drone Football Industry Park will facilitate a full-chain industrial layout, covering hardware manufacturing, event organization, and training programs [12][13]

Group 1 - The U.S. has decided to impose tariffs on Chinese semiconductor products, effective 18 months from now, specifically on June 23, 2027, due to China's efforts in achieving self-sufficiency in the semiconductor sector, which have harmed U.S. interests [1] - The announcement of the tariffs 18 months in advance is seen as a strategy to exert pressure without immediately escalating tensions, allowing for negotiation space while maintaining a strong stance [2][4] - The tariffs will primarily target mature process chips in sectors such as automotive and industrial control, with concerns that immediate implementation could disrupt the U.S. semiconductor supply chain and increase operational costs for American companies [4] Group 2 - The U.S. recognizes the strategic importance of China's rare earth policies, which could significantly impact U.S. industries, particularly defense and high-tech sectors, if China decides to enforce export controls after a one-year pause [6] - The U.S. Federal Communications Commission has added foreign-manufactured drones, including those from DJI, to a regulated list, reflecting a broader strategy to maintain technological dominance over China, despite potential negative impacts on U.S. consumers and industries reliant on these products [8] - The dual approach of imposing tariffs while simultaneously seeking cooperation in certain areas indicates the U.S. commitment to countering China's rise while navigating the complexities of interdependence in technology [8]

Group 1 - China's National People's Congress Foreign Affairs Committee issued a strong statement to the U.S., indicating a shift from passive defense to active countermeasures in response to external pressures [1][3] - The U.S. has been applying pressure on China through various means, including military sales to Taiwan and the seizure of Chinese vessels, prompting China to formally activate its Anti-Foreign Sanctions Law as a core tool for retaliation [3][4] - The strategic competition between China and the U.S. has entered a new phase, with China adopting systematic and institutionalized countermeasures to ensure compliance with legal procedures [4][8] Group 2 - A U.S. military helicopter forcibly boarded a Chinese oil tanker, highlighting the misuse of judicial power by the U.S. in international waters [6] - China's response to U.S. actions is now characterized by strong legal measures, marking the beginning of a new era of legal countermeasures [8][10] - The cancellation of a 132,000-ton wheat order from U.S. farmers to China signifies a strategic decision to reduce reliance on U.S. agricultural products, despite higher costs from Canadian suppliers [11] Group 3 - The impact of China's countermeasures is felt globally, with U.S. wheat futures dropping 3%, the largest single-day decline in three months, and negative growth in exports to China [12] - U.S. companies, such as synthetic rubber manufacturers, are facing anti-dumping investigations amounting to $780 million, leading to production line shutdown risks [12] - China's countermeasures are targeted, focusing on U.S. political constituencies and industries, indicating that provocations will have domestic political consequences [13] Group 4 - In the technology sector, U.S. bans on DJI drones have backfired, as the company holds a 70% market share globally, complicating the search for alternatives and increasing costs for U.S. emergency services [15] - The semiconductor industry is similarly affected, with U.S. chip manufacturers experiencing a drop in capacity utilization to 20% after losing $15 billion in orders from China [17] - The so-called technology blockade has inadvertently accelerated China's innovation, allowing companies like DJI to strengthen their global leadership [18] Group 5 - China's holdings of U.S. Treasury bonds have fallen to $688.7 billion, the lowest since the 2008 financial crisis, signaling a move away from reliance on U.S. dollar assets [20] - The daily processing volume of China's Cross-Border Interbank Payment System (CIPS) has surpassed 4 trillion yuan, indicating a shift in international trade settlements away from the SWIFT system [20] - The U.S. military aid to Taiwan, while appearing generous, imposes heavy financial burdens on Taiwan, revealing the strategic implications of U.S. support [20]

Core Viewpoint - The article highlights the significant impact of the Hong Kong University of Science and Technology (HKUST) on the entrepreneurial landscape in the Greater Bay Area, showcasing its role in nurturing successful startups and unicorns through a collaborative ecosystem of alumni and faculty [1][5]. Group 1: HKUST's Entrepreneurial Ecosystem - HKUST has established over 1,900 active startups, incubated 10 unicorns, and created an economic impact exceeding 400 billion HKD [1]. - The "HKUST system" is recognized as a key incubator of new productive forces, serving as an invisible engine for unicorn cultivation in the Greater Bay Area [1]. - The collaboration model between professors and students, where professors provide resources and students lead market development, has proven effective in fostering successful startups [3][5]. Group 2: Notable Startups and Innovations - DJI, founded by HKUST alumnus Wang Tao, is valued at 84 billion HKD and exemplifies the success of the HKUST entrepreneurial network [3]. - Other notable startups include Hong Kong Micro Crystal Advanced Optoelectronics, which transitioned from LED chip development to intelligent visual products, and Dapu Bio, a leader in droplet microfluidics [4][5]. - The establishment of the "Red Bird Innovation and Entrepreneurship Fund" with 500 million HKD aims to support early-stage projects, reflecting the commitment to nurturing innovation [9]. Group 3: Collaborative Innovation and Resources - The HKUST International Entrepreneurship Competition has evolved into a high-density resource aggregation platform, distributing nearly 60 million HKD in prizes over 15 years [7]. - The collaboration between HKUST and local governments aims to create a comprehensive innovation ecosystem, facilitating the transformation of research into industry applications [9][10]. - HKUST (Guangzhou) has seen the emergence of over 150 entrepreneurial projects and more than 70 registered companies, with a combined valuation of nearly 4.5 billion RMB [8]. Group 4: Future Prospects and Strategic Goals - The establishment of the HKUST (Guangzhou) Innovation Zone aims to explore the integration of education and industry, fostering more unicorn enterprises [9]. - The Greater Bay Area is viewed as fertile ground for innovation, leveraging the strengths of both Hong Kong and mainland China to create a collaborative innovation chain [10]. - The focus on building a robust ecosystem that includes upstream and downstream resources is essential for the success of hard-tech startups [8][10].

记者丨陈梦璇 编辑丨蒋韵 在深圳深港产学研基地成立之初，香港科技大学（下称"港科大"）教授李泽湘曾力邀学生到深圳创业， 但应者寥寥。彼时，多数毕业生首选赴美深造或入职硅谷、华尔街。 转折点出现在大疆创新崛起之后，"九成学生转而投身创业，因为大湾区的发展机遇已远超过海外"。从 大疆创新的消费级无人机帝国，到云洲智能的无人船艇、思谋科技的AI视觉技术，李泽湘感慨，这些 闪耀大湾区的硬科技明星企业，无不烙印着港科大校友圈子的协同基因，也是大湾区融合发展的生动例 证。 据统计，目前港科大成员已累计创办超1900家至今活跃的初创企业，孵化10家独角兽、17间成功退出企 业（含上市或并购），创造经济影响超4000亿港元。值得一提的是，港科大在深科技（即艰深技术）独 角兽孵化领域实力突出，能力排名全国第二。 如今，"港科大系"不仅成为投资人筛选优质标的的重要标签，更被视为新质生产力的关键孵化载体。这 个横跨港澳与内地的"校友圈"，在粤港澳大湾区的科创版图上，渐成独角兽培育的"隐形引擎"。 港科大"校友圈"的独特魔力 从创业圈到科技圈，汪滔和李泽湘的师徒组合已成为标杆。 前者作为港科大毕业生，创办的超级独角兽大疆创新，目前估 ...

Summary of Low Altitude Economy Conference Call Industry Overview - The low altitude economy is projected to experience a surge in business in 2024, with sales expected to match the total of the past decade, driven by government infrastructure investments and the construction of state-owned platform application devices, as well as a clearer understanding of low altitude economy and GDP data boundaries [1][2][3] Key Points and Arguments - **New Policy Framework**: The recent low altitude economy statistical classification policy clarifies the statistical scope of four major sectors: infrastructure (communications, navigation), hardware (general aviation aircraft, drones), operations, and services training, aligning with the "14th Five-Year Plan" and annual economic work conference expectations [1][2][3] - **Government Guidance**: The State Council issued documents in June and November to guide state-owned enterprises in low altitude economy development and classify air traffic control platforms at provincial and municipal levels, providing clear guidance for social capital inflow and avoiding redundant construction [1][3] - **Project Approval Process**: Low altitude economy projects must connect with local government departments, such as transportation or water resources, and report to national ministries. The proportion of special bonds or treasury bonds in infrastructure projects has significantly increased, with notable projects like Shandong's 4 billion yuan tender for flying vehicles [4][5] - **Investment Trends**: In Zhejiang Province, low altitude projects are encroaching on traditional infrastructure project shares, indicating a trend where local governments aim to maintain special bond shares through low altitude economy development, expected to improve steadily over the next 3-5 years [5][6] Challenges and Opportunities - **Local Government Challenges**: Local governments face challenges in funding sources, attracting capable enterprises, and coordinating resources across departments. Collaborative efforts with major tech companies like Alibaba and Tencent are being made to support data collection and business model innovation [7] - **Mature Applications**: The application of cargo drones is relatively mature, with significant commercial scenarios in logistics, agricultural protection, and inspections. The agricultural protection sector alone sees annual sales of about 200,000 drones, with a penetration rate nearing double digits [8][9] - **Cost Efficiency in Logistics**: Drones demonstrate significant cost efficiency in logistics, with examples showing reduced transportation costs and time savings in specific scenarios, such as using hydrogen-powered drones for frozen goods delivery [9][10] Industry Leaders and Innovations - **Prominent Companies**: Key players in the low altitude economy's information technology sector include military state-owned enterprises like Lai Si, China Electronics, and Aerospace Science and Industry, which are expected to become industry leaders [11][12] - **Regulatory Platform Development**: The construction of provincial and municipal regulatory platforms is progressing, with companies like Zhongke Xingtou and Zhongke Yuntu showing strong performance in supporting application scenarios [12][13] Future Outlook - **Investment Projections**: Expected investment amounts for low altitude special bonds range from 2 to 4 billion yuan in Hubei and over 5 billion in Guangdong, with ongoing efforts to promote project implementation [15] - **Infrastructure Needs**: The development of low altitude economy is hindered by lagging infrastructure, necessitating government investment and policy support to facilitate technology innovation and application promotion [22][23] - **Market Potential**: The low altitude economy is anticipated to see explosive growth in infrastructure projects from 2024 to 2027, leading to significant procurement of drones and related equipment [17][19] Conclusion - The low altitude economy is positioned for substantial growth, driven by government policies, technological advancements, and increasing market demand. However, challenges related to infrastructure and regulatory frameworks must be addressed to fully realize its potential.