Core Viewpoint - The launch of HanShang Group's low-altitude port marks a significant step in the development of low-altitude logistics, which is expected to reshape traditional logistics and drive demand across various sectors, including drone manufacturing and logistics services [1][2][3]. Industry Overview - Low-altitude logistics utilizes various piloted and unmanned aircraft for cargo transportation in low-altitude airspace, driven by consumer upgrades and specific transportation needs [2]. - The increasing demand for urgent medical supplies and fresh food delivery, along with the need for quick access to essentials in remote areas, is propelling the commercialization of low-altitude logistics [2][3]. - The market for low-altitude logistics is projected to reach between 1200 billion to 1500 billion yuan by 2025, and could rise to between 4500 billion to 6050 billion yuan by 2035 [3]. Company Developments - HanShang Group's low-altitude port aims to enhance logistics for high-time-sensitive goods and integrate low-altitude economy with modern commercial ecosystems [2][4]. - Companies like SF Express and Sichuan Jiuzhou Electric have made significant advancements in low-altitude logistics, with SF Express achieving daily operations of 800 to 2000 flights in the Greater Bay Area [5]. - The industry is witnessing a trend where companies are focusing on technological innovation and operational efficiency to capture market opportunities in low-altitude logistics [4][5].

Core Insights - The Han商 Low-altitude Port has officially commenced operations, providing drone delivery services across Wuhan's three towns, significantly enhancing logistics efficiency [1][5][6] - The logistics system includes a digital dispatch platform, smart command centers, and multiple low-altitude flight routes, aimed at improving delivery times for high-demand products like seafood and flowers [5][6] Company Overview - Han商 Group reported an estimated revenue of approximately 1.175 billion yuan for 2024, with the health sector contributing 874 million yuan and the commercial sector generating 258 million yuan [9] - The company has been actively optimizing its industrial layout, including the establishment of Han商 Low-altitude Technology (Hubei) Co., Ltd., focusing on drone manufacturing and public air transport [9] Industry Developments - The low-altitude logistics network is designed to reduce delivery times by about 60%, thereby enhancing urban short-distance delivery efficiency and lowering logistics costs [6] - The low-altitude port is the first of its kind located in a city core area, facilitating a multi-functional transportation network that integrates with traditional logistics systems [6][9] - Future plans include expanding flight routes, developing helicopter services for urban sightseeing and short-distance commuting, and exploring diverse low-altitude applications such as tourism and emergency rescue [9]

Core Viewpoint - The launch of Han Commercial Low-altitude Port marks the establishment of a low-altitude logistics network covering the three towns of Wuhan, enhancing delivery efficiency for time-sensitive goods like seafood and pharmaceuticals [1][2]. Group 1: Low-altitude Logistics Network - Han Commercial Low-altitude Port consists of a digital real-time scheduling platform, two smart command centers, ten low-altitude routes, and 22 intelligent landing pads, creating a specialized low-altitude logistics operation system [1]. - The approved ten low-altitude logistics routes primarily serve high-demand goods, connecting key areas in Wuhan and forming a comprehensive delivery network [1][2]. Group 2: Delivery Efficiency and Cost Reduction - Low-altitude delivery can reduce overall logistics time by approximately 60%, significantly improving urban short-distance delivery efficiency and creating a "faster and fresher" consumer experience [2]. - The integration of low-altitude delivery with traditional cold chain logistics creates a multi-dimensional transportation network that enhances overall supply chain efficiency [2]. Group 3: Future Development Plans - The company plans to expand low-altitude technology applications, including drone delivery, helicopter passenger transport, and low-altitude cargo services, while exploring diverse applications such as low-altitude tourism and emergency rescue [3]. - Future efforts will focus on refining flight routes and promoting the Han Commercial Low-altitude Port model to other cities to achieve scale effects [3].

Core Insights - The article highlights the rapid development of low-altitude logistics in China, particularly in Shenzhen, which is becoming a leader in the low-altitude economy with significant advancements in logistics infrastructure and policy support. Group 1: Low-altitude Logistics Development - In 2024, over 140 new low-altitude logistics routes will be opened in China, with urban routes making up 90% of the total, primarily for last-mile delivery services [1] - Shenzhen has established a total of 250 drone logistics routes as of 2024, with a 27% year-on-year increase in drone cargo flights, reaching 776,000 flights [2] Group 2: Policy and Standards - Shenzhen is leading in the construction of a policy standard system for low-altitude economy, having introduced the first local legislation on low-altitude economy and a framework for standardization [4][5] - The city has initiated the compilation of 18 local standards for low-altitude economy, focusing on practical applications to drive high-quality development [5] Group 3: Smart Logistics Centers - The first "air-ground collaborative" smart logistics center in the country, located in Shenzhen, integrates drone delivery with ground logistics, significantly enhancing delivery efficiency [8] - This logistics center can deliver local packages within 2 hours and cross-city packages within 3 hours, showcasing the effectiveness of the air-ground integration model [9] Group 4: Future Goals and Initiatives - Shenzhen's 2024-2026 work measures aim to promote high-quality development in modern logistics, including the establishment of a national-level air traffic management pilot city and support for "air-ground combined" logistics models [10][11] - The goal is to create a low-altitude economic industrial cluster, with plans to exceed 420 logistics take-off and landing points by 2025 [11]

Core Viewpoint - The article discusses the development and policy framework of China's low-altitude logistics industry, highlighting its significance as part of the low-altitude economy and the strategic support from the government to foster growth in this sector [1][3]. Policy Development History - The low-altitude logistics sector is part of the broader low-altitude economy, which has evolved alongside macro policies related to low-altitude economic activities. Key plans such as the "Eighth Five-Year Plan" and the "Fourteenth Five-Year Plan" emphasize enhancing air transport capabilities and developing general aviation infrastructure [1]. National Policy Summary and Interpretation - The low-altitude economy relies on both manned and unmanned aerial vehicles, with the drone industry identified as a strategic emerging industry during the "Fourteenth Five-Year Plan." The government has introduced multiple policies to support and regulate the drone sector, marking low-altitude economy as a new growth engine in the 2024 government work report [3][4]. Policy Impact on Low-Altitude Logistics - The "Fourteenth Five-Year Plan" aims to deepen reforms in the low-altitude economy, enhance air traffic management, and optimize air route networks, which will provide strategic support for the low-altitude logistics industry [9]. - The "Regulations on the Management of Unmanned Aerial Vehicle Flights" establish a comprehensive framework for the operation of drones, promoting a safer and more efficient logistics environment [10][11]. Local Government Initiatives - Various provinces are actively promoting low-altitude logistics development, with initiatives such as building smart logistics systems and exploring drone transportation routes. For instance, Guangdong aims to create a leading low-altitude economic hub, while Beijing plans to establish innovation platforms in the sector [12][13][14]. Development Goals - Local governments have set specific targets for the low-altitude economy, including the establishment of infrastructure and the growth of industry scale. For example, by 2027, Hubei aims to achieve a low-altitude industry scale exceeding 100 billion yuan [15].

Core Insights - The article highlights the rapid development and expansion of low-altitude logistics in Nanjing, with a total of 174 approved flight routes, including 19 new routes this year, significantly enhancing urban logistics and public services [1][3][8] Group 1: Low-altitude Logistics Applications - Nanjing has successfully tested its first drone delivery route, significantly reducing delivery time and costs, such as delivering coffee in 8 minutes over 14 kilometers [2][3] - Various applications of low-altitude logistics have emerged, including medical deliveries, traffic management, and agricultural product distribution, showcasing a diverse range of use cases [2][3] - The city has established a comprehensive framework for low-altitude applications, categorizing them into four main areas: public services, production operations, low-altitude transportation, and aviation consumption, with a total of 80 sub-items [3][8] Group 2: Safety and Operational Efficiency - The low-altitude logistics system ensures safety through strict route planning and regulatory compliance, requiring companies to meet specific operational criteria [4][5][6] - The city has implemented a fast-track approval system for flight plans, significantly improving operational efficiency and supporting over 90 operational units [7][8] - The logistics drones are designed for point-to-point delivery, with a focus on optimizing flight processes and reducing costs [5][6] Group 3: Future Prospects and Economic Impact - Nanjing's low-altitude economy is projected to exceed 50 billion yuan by 2026, with plans to establish over 240 takeoff and landing sites and more than 120 flight routes [8] - The city aims to foster innovation in low-altitude applications, with future projects including drone-assisted building cleaning and eVTOL tourism [7][8] - The rapid growth of low-altitude logistics is expected to significantly enhance urban management and improve the quality of life for residents [7][8]

Industry Overview - The low-altitude logistics industry in China consists of a comprehensive supply chain, including upstream raw materials and core components, midstream low-altitude manufacturing, and downstream operational services and applications [1][2] - Upstream materials include metals, special rubber, and polymer materials, while midstream encompasses low-altitude manufacturing, flight operations, and comprehensive services [1][2] - Downstream services cover e-commerce logistics, traditional express delivery, takeaway delivery, and third-party logistics providers, with applications in urban logistics, rural logistics, emergency rescue, and medical supplies delivery [1] Key Players and Their Business Layout - Major companies in the low-altitude logistics sector include Hongdu Aviation, AVIC Helicopter, and DJI, with a focus on various aspects of the supply chain [2][10] - Hongdu Aviation specializes in the design, manufacturing, and maintenance of trainer aircraft, with over 8,000 pieces of equipment [11] - AVIC Helicopter is the largest player in China's helicopter manufacturing industry, with a comprehensive product range [11] - DJI and other drone manufacturers are pivotal in the midstream segment, while logistics companies like SF Express, Meituan, and JD.com are key players in the downstream segment [2][10][12] Regional Development - The low-altitude logistics industry is primarily concentrated in Beijing and Guangdong, where the development of the supply chain is more robust [4][6] - As of April 2025, there are 16 drone industrial parks across China, with notable concentrations in Zhejiang and Jiangsu [8] Recent Developments and Trends - Companies are diversifying their operations, with SF Express, Meituan, and JD.com expanding their business through digital logistics solutions and technological innovations [13][14] - The industry is witnessing advancements in drone technology, including battery life improvements and enhanced obstacle avoidance capabilities [14] - Collaboration among companies is increasing to explore new application scenarios and business models in low-altitude logistics [14] Representative Companies' Latest Developments - SF Express has established a three-segment air transport network and operates a significant number of drone flights daily [12][15] - Meituan has launched multiple drone delivery routes and is expanding its operations internationally, including in the UAE [15] - JD.com is focusing on last-mile delivery in remote areas and has introduced a new generation of logistics drones [15] - China Post is developing a low-altitude logistics network and has signed strategic agreements to enhance its infrastructure [15] - Xunyi Technology is collaborating with China Mobile to promote low-altitude logistics and smart city initiatives [15]

低空经济是以航空载运与作业装备技术为主要手段、以低空空域为主要活动场域、以低空飞行活动为最 终产形式的系列经济活动组成的经济领域。 低空物流行业是低空经济中进行货物运输和相关经济活动的部分，以民用有人驾驶和无人驾驶航空器为 主，以载货等多场景低空飞行活动为牵引，辐射带动相关领域融合发展的综合性经济形态。通常指距正 下方地平面垂直距离在1000米以内的空域，根据飞行活动的复杂性和控制要求进一步划分为几个层级。 行业政策方向：政策助推行业快速发展 行业主要上市公司：洪都航空(600316);中直股份(600038);中信海直(000099);航天彩虹(002389);纵横股份 (688070);顺丰控股(002352);美团(HK:03690);京东集团(HK:09618);韵达股份(SZ:002120)等 1、 定义 低空经济是以低空空域为依托，以各种有人驾驶和无人驾驶航空器的低空飞行活动为牵引，辐射带动相 关领域融合发展的综合性经济形态。无人机产业是我国"十四五"期间的战略性新兴产业，其已成为"低 空经济"发展的重要引擎。中国颁布多项政策支持与规范无人机产业，从而助力中国低空经济高质量发 展。2024年国务院 ...

Group 1 - SF Express is a leading player in the low-altitude logistics industry, having initiated its drone logistics exploration in 2012 and conducted its first trial in 2013 [1] - The company received the first national "Drone Aviation Operation (Pilot) License" in March 2018 and the first "Civil Unmanned Aircraft Operation Qualification Certificate" in January 2024, indicating strong regulatory support [1] Group 2 - The core competitiveness of SF Express's drone operations lies in its scenario-based technology adaptation, featuring models like the Ark 40 for same-city delivery and PW.Orca for intercity transport [2] - The self-developed flight control system and low-altitude flight management service system enhance operational stability and regulatory compliance [2] Group 3 - The first "Air-Ground Collaborative" smart logistics operation center, the Fengyi Baoan Low-altitude Smart Logistics Operation Center, was inaugurated in February 2025, capable of processing over 2000 packages daily [6] - The center integrates traditional and low-altitude logistics, achieving average delivery times of 2 hours for same-city packages and 3 hours for intercity packages [6] Group 4 - As of November 30, 2024, SF Express's drone operations have opened over 600 routes, completed more than 1.1 million flights, and transported over 6.2 million packages, covering a total distance exceeding 5.7 million kilometers [7][8] - The operations include rural delivery, specialty economy, island transport, and intercity logistics, with a daily volume of 20,000 packages in the Greater Bay Area [7] Group 5 - SF Express has engaged in multiple collaborations to advance low-altitude logistics, including a strategic agreement with Qianfang Technology to develop diverse operational scenarios [8] - In February 2025, SF Express signed an agreement with Zhongke Low-altitude Economic Development Group to explore scalable applications of low-altitude economy in Henan Province [9] - A significant partnership was established with Yifei Aviation Technology for the purchase of 100 ES1000 large short-distance takeoff and landing unmanned transport aircraft, enhancing logistics efficiency [9]

Core Viewpoint - The Sichuan Province is actively promoting the development of the low-altitude economy, with the launch of supportive policies and the establishment of various low-altitude applications, creating new opportunities for tourism and economic growth in the region [1][2]. Group 1: Policy and Development Initiatives - The Sichuan Province has introduced several policy measures to support the development of the low-altitude economy, including the establishment of low-altitude flight management pilot programs [1]. - The Wawushan Paragliding Flight Camp has been selected as one of the first 11 low-altitude flight pilot projects, indicating a significant opportunity for low-altitude economic development [1]. - The construction of the first A1-level general airport in Meishan City, located in Hongya, has been approved and is expected to be completed by December 2026, which will enhance the development of new business models combining general aviation and tourism [4]. Group 2: Low-altitude Applications and Innovations - Hongya County is leveraging its advantageous transportation and airspace conditions to develop various low-altitude applications, including general aviation, low-altitude tourism, and logistics [2]. - The introduction of drone technology has transformed agricultural practices, allowing for efficient transportation of bamboo and wood, with drones capable of carrying 70-85 kilograms and transporting up to 1 ton of materials in one hour [2][3]. - The launch of the first drone express delivery route in Meishan City has significantly improved delivery efficiency, reducing the time from 20-30 minutes to just 7 minutes, representing an efficiency increase of over 180% [4]. Group 3: Events and Community Engagement - The third Sichuan-Chongqing Paragliding Competition and the eighth Sichuan Paragliding Championship attracted approximately 12,000 spectators, showcasing the region's commitment to low-altitude sports and tourism [4]. - A low-altitude sightseeing project named "Meishan Cultural Tourism? Cloud Tour Wawushan" has successfully conducted its first test flight, marking a breakthrough in low-altitude economic applications [5].