36氪作为中国最大的新经济媒体平台，过去通过与投资机构、基金合伙人的深度合作，大幅提升企业融资机会。随着新经济不断发展的十年，36氪沉淀和积 累了大量一级市场投资人资源。 「每日路演」是针对优质创业项目开放投资人社群、进行新型的线上闭门路演，持续为创业者与投资人两端提供深度运营服务。to 高潜创业者-高效输出公 司价值亮点+与投资人进行深度交流；to 投资人与投资机构-多维度、低成本对话项目决策人+先一步看到未来，掌握一手资讯，以媒体资源与平台优势助力 创投双端对接。 本期我们精选汇总了三个社群精选路演项目信息。如果您对本文中的项目感兴趣，希望可以对接到项目方，或者如果您手中有好项目需要融资对接更多投资 人，欢迎与我们联系（底部扫码添加运营官，备注项目对接）。 对接项目请扫码添加文章底部专属运营官微信 1.卓世航空 【项目概要】 【融资需求】 Pre-A 轮，3000万-5000万人民币 【项目亮点】 1）黄金赛道-消防应急蓝海市场：精准切入消防应急这一政策支持明确、付费能力强的刚需市场，凭借成熟产品矩阵和服务体系，已验证商业模式的有效 性，展现出在应急消防领域的市场竞争力与发展潜力； 2）15年行业深耕一线 ...

Core Viewpoint - The low-altitude economy in Shanghai is rapidly developing, with nearly 800 registered drone operating companies and approximately 220,000 registered drones, projecting over 3.2 million flights in 2025 [1] Regulatory Framework - The Shanghai Municipal Government has defined the suitable flying airspace for micro, light, and small unmanned aerial vehicles (UAVs) as areas below a true height of 120 meters outside controlled airspace, covering 46% of the city's administrative area [1][4] - The "Interim Measures for the Safety Management of Civil Unmanned Aerial Vehicles" will take effect on February 1, establishing departmental responsibilities and comprehensive regulatory requirements [2] Safety and Compliance Measures - A multi-departmental initiative has been launched to enhance low-altitude flight safety supervision, including the establishment of a "Five Ones" system and supporting measures [1] - The Shanghai Low Altitude Flight Comprehensive Supervision Service Platform will officially launch on February 1, allowing users to complete drone registration, flight declaration, and experience zone reservations through a single app [5] Enforcement Actions - Since the launch of the "black flight" crackdown in August of the previous year, there have been significant reductions in illegal drone flights, with 3,366 cases investigated and a 34.4% increase in voluntary registrations by drone operators [6] - A six-month "Clean Sky" initiative will be implemented to strengthen enforcement against illegal modifications and enhance safety management in designated flying experience zones [6]

Core Viewpoint - The establishment of the Zhejiang private "star chain" is marked by the successful launch of 64 satellites, achieving global communication coverage (excluding the polar regions) and supported by the Geely Satellite Super Factory in Taizhou Bay New Area, which innovates the aerospace industry with automotive manufacturing principles [1][3]. Industry Development - By 2025, Taizhou's low-altitude economy has developed a three-dimensional structure, with Taizhou Bay New Area leading as the only pilot zone for future aerospace industries and low-altitude economic integration in Zhejiang Province, ranking second nationally in industrial activity [3][4]. - The "one star, four machines" industrial concept initiated in 2016 has laid the foundation for Taizhou's aerospace ambitions, attracting key players like the China Aerospace Aerodynamics Research Institute and Geely's Taizhou Starry Sky Intelligent Technology Co., Ltd. [4][5]. Ecosystem and Collaboration - The establishment of a comprehensive industrial ecosystem includes partnerships with leading enterprises, resulting in a strategic ecological co-construction project worth billions in the special aircraft industry [4][5]. - By November 2025, seven projects with a total investment of 2.64 billion yuan were signed, enhancing the full industrial chain from manufacturing to operational services [5]. Technological Advancements - The successful launch of Geely's satellites and other significant projects like the "Tai Zhou" computing satellite and the "Blue Carbon No. 1" marine satellite highlight the region's advancements in aerospace technology [7]. - The integration of drones in various sectors, including agriculture and emergency services, demonstrates the practical applications of low-altitude logistics, significantly improving response times and operational efficiency [8][10]. Future Goals and Investments - Taizhou aims to establish itself as a national-level low-altitude economic comprehensive industrial demonstration zone, targeting an industry scale of 18 billion yuan by 2026 and 30 billion yuan by 2030 [13]. - The region has set up a low-altitude economic industry fund with an initial scale of 1 billion yuan, alongside various other funds to support the entire industrial cycle [13].

周二美股收盘，果然如我们昨日文章预料的那样，来了一场惨烈的"下跌"！ 截至收盘，道指狂泄近900点，标普500重挫超过2%，纳指更是大跌约2.4%。恐慌指数VIX飙升至去年11月以来的最高点。 利空一：格陵兰通牒引发"美欧金融战" 市场的首个引爆点，正是我们昨日预警的、特朗普于1月17日在Truth Social释放的"核弹级"信号。他明确表示，从2月1日起将对德国、法国、英国及丹麦 等8个欧洲国家加征10%的关税。 更具杀伤力的是他在文末下的最后通牒：若在6月1日前拿不出让美方满意的"格陵兰协议"，税率将直接升至25%。这种"以领土换贸易"的极限施压，瞬间 引爆了欧盟的怒火。法国已敦促启动"反胁迫机制"（ACI）进行还击。 这里大家必须重视一个数据：欧洲实体持有的美国债券和股.票资产总额高达8万亿美元。这8万亿美元是美股流动性的"压舱石"，也是欧洲手中足以令美 股瞬间失血的"金融核武"。 据美股投资网了解，特朗普在周一晚间再次重申了对格陵兰岛控制权的坚定意志。这种近乎"志在必得"的姿态，不仅是口头上的施压，更具象化为了一张 极具争议的照片。 照片中特朗普手持美国国旗登上格陵兰岛，身后站着副总统万斯（JD V ...

Core Viewpoint - The seminar on low-altitude hydrogen power technology highlighted the potential of hydrogen-powered drones for various applications, emphasizing their long endurance and heavy payload capabilities, aligning with the goals of sustainable development and high-quality growth in the region [1][3]. Group 1: Industry Development - The seminar showcased a hydrogen-powered drone that successfully flew for 4 hours, demonstrating its capabilities in long endurance and heavy payload [3]. - Experts discussed the current state of the hydrogen energy industry, identifying challenges in endurance capabilities and emphasizing hydrogen power as the future choice for low-altitude heavy-load aircraft [3][4]. - The Shenzhen Saltian District government announced multiple application scenarios for low-altitude hydrogen power, including marine inspection, port operations, emergency support, and low-altitude logistics [3]. Group 2: Company Initiatives - Zhonghuan Aviation Energy, a key player in the hydrogen and low-altitude sector, signed agreements with upstream enterprises and manufacturers to enhance technology integration and system development [4]. - The president of the Shenzhen Low-altitude Economic Industry Association stressed the importance of a scientific and comprehensive standard system for the safe and sustainable operation of hydrogen power technology [4]. - Zhonghuan Aviation Energy's chairman highlighted the company's strong R&D foundation and patent portfolio in wind-cooled hydrogen fuel cells, aiming to accelerate the certification of hydrogen-powered drones and expand their application in various scenarios [4].

Summary of Conference Call Notes Company and Industry Involved - The focus is on **Dongcai Construction** and its acquisition of **Dongjin Aerospace** within the **low-altitude airspace management** and **satellite application** sectors [1][2]. Core Points and Arguments - **Stock Performance**: The company experienced a rise in stock price despite market conditions, indicating investor confidence in the acquisition process of Dongjin Aerospace [1]. - **Acquisition Status**: The delay in responding to the exchange's inquiry regarding the acquisition is not seen as a red flag; it is likely due to incomplete materials rather than issues with the acquisition itself [1][2]. - **Business Integration**: There is optimism about the integration of Dongjin Aerospace's capabilities in low-altitude airspace planning and drone platform development, which is expected to enhance the company's overall business strategy [1][2]. - **Industry Leadership**: Dongjin Aerospace is recognized as a leader in low-altitude airspace planning and drone platform development, with significant contributions to satellite applications [1][3]. - **Regulatory Role**: Dongjin Aerospace is the only company involved in both system construction and operational services for general aviation in China's low-altitude airspace management reform pilot projects [3]. - **Operational Achievements**: The company has successfully addressed key issues in airspace planning for unmanned aerial vehicles (UAVs) and has established a comprehensive regulatory platform for drones, setting benchmarks in regions like Hainan and Chongqing [3]. - **Commercial Space Expansion**: Future focus will be on the company's expansion in commercial space ventures, with performance commitments ensuring a safety margin for investors [4]. - **Profit Commitments**: Dongjin Aerospace has committed to achieving net profits of no less than 15 million, 25 million, and 35 million yuan for the years 2026 to 2028, totaling 75 million yuan over three years [4]. - **Share Buyback Program**: The company has initiated a share buyback program, with 21.95 million yuan repurchased at an average price of 20.25 yuan per share, contributing to a solid safety margin given the current market capitalization of 2.8 billion yuan [4]. - **Regulatory Approval**: The Shenzhen Stock Exchange has reviewed and accepted the company's application for issuing shares to purchase assets and raise matching funds, indicating progress in the acquisition process [4]. Other Important Content - **Collaboration and Innovation**: Dongjin Aerospace is collaborating with China Star Network on low-altitude satellite applications, indicating a focus on innovation within the industry [3]. - **Local Partnerships**: The company has established deep partnerships with local aerospace industries in Hainan, enhancing its market presence and operational capabilities [3].

Core Viewpoint - The article discusses the U.S. Department of Commerce's Bureau of Industry and Security (BIS) new rule aimed at restructuring export controls for civilian drones, balancing national security with the competitiveness of the U.S. drone industry [2][6]. Policy Background - The rule is a response to the rapid proliferation of civilian drone technology over the past decade, which has diminished the military advantages previously held by the U.S. [2] - The BIS aims to redefine the boundaries between "broad civilian use" and "critical capability control" to support U.S. manufacturing, supply chain security, and export competitiveness [2]. Key Adjustments in Export Controls - The first adjustment involves reclassifying certain commercial drones under ECCN 9A012.a.1 from NS Column 1 (NS1) to NS Column 2 (NS2), allowing for export without a license to most Wassenaar Arrangement member countries [3][4]. - The second adjustment permits limited exceptions for drones subject to missile technology (MT) controls, allowing some non-military drones to be exported under a STA (Strategic Trade Authorization) to key U.S. allies, provided they meet specific performance thresholds [4][5]. Specific Conditions for Export - Drones that can carry less than 500 kilograms and fly less than 300 kilometers are eligible for STA, aligning with the Missile Technology Control Regime (MTCR) criteria [5]. - The BIS maintains overall MT control frameworks while introducing specific authorizations, ensuring compliance obligations remain intact [5]. Impact on Export Licensing - The new rule is expected to reduce approximately 30 export license applications annually, thereby lowering administrative friction and enhancing the presence of U.S. drones in allied markets [5]. - All relaxations in export controls are not applicable to "foreign adversary countries," maintaining strict oversight on sensitive technologies [6]. Strategic Implications - The rule reflects a consistent policy logic with the Trump administration's approach to high-tech products, aiming to promote U.S. products globally while maintaining strict controls on advanced capabilities [7]. - Unlike the AI chip sector, where the U.S. has dominant players like NVIDIA, the drone industry faces intense international competition, necessitating a strategic push to capture market share [7].

Group 1 - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. has officially launched its global offering, planning to list on the Hong Kong Stock Exchange on January 28, with a share price not exceeding HKD 236.6 [2] - The company plans to issue 14.1011 million shares, with approximately 12.6909 million shares for international offering and about 1.4102 million shares for public offering in Hong Kong, estimating a net amount of approximately HKD 3.124 billion from the offering at a median price of HKD 233.10 per share [2] - Netflix has adjusted its acquisition proposal for Warner Bros. to an all-cash offer of USD 82.7 billion, with a cash price of USD 27.75 per share, receiving unanimous support from Warner Bros. Discovery's board [2] Group 2 - Yupan Intelligent has completed a Pre-IPO+ round of financing amounting to approximately RMB 513 million, with investments from various entities including Wenzhou Cangnan Shanhai Industrial Group and Crewstone International [2] - Nature Select has recently completed a new financing round exceeding USD 30 million, with investments from Alibaba, Ant Group, and several venture capital firms [3] - The company "Today Yixiu" has announced the completion of a seed round financing of several tens of millions, with investors including Hillhouse Ventures and Yunjiu Capital, planning to launch a series of hardware and software products later this year [4] Group 3 - Potensic has launched the AI-powered ATOM series of drones, featuring smart functions and compliance with global regulations, aimed at enhancing user experience in flight and control [4] - Tesla's second-generation humanoid robot figurine will be available for sale on January 21, priced at RMB 199, consisting of over 40 independent parts and designed to closely resemble the second-generation humanoid robot [5]

来源：光明日报 城市有了智慧"大脑"，将呈现出怎样的精彩图景？ 民生服务"精准滴灌" 讲述人：江苏无锡市城市运行管理中心运行管理部负责人 王志华 "河道沿岸和小区角落堆放垃圾，异味扰民！"前阵子，江苏无锡市梁溪区一处临河居民区的投诉工单通 过12345热线，跳转到我们中心负责运营的无锡市无人机低空巡管共享服务平台。这种投诉以往最让人 头疼——城管人员靠徒步巡查，耗时耗力，一些隐蔽的角落还难以覆盖。 瞧！人工智能实时调节交通信号灯，道路通行有了更多效率空间；气象大模型读懂风云数据，公众出行 有了自己的"参谋"；大数据识别异常行为与安全隐患，公共安全有了更多预警空间……随着新的应用场 景不断涌现，智能技术让城市变得越来越"耳聪目明"。 本期让我们走进城市"大脑"的幕后，看城市治理如何更灵活、居民生活如何更便捷。 【一线讲述】 但现在，流程变了。工单一到，我们的调度系统立刻响应，一架搭载着垃圾识别算法的无人机从智能方 舱起飞，对河岸和小区角落进行全面扫描。很快，AI就精准找到堆积点，将生成的带坐标、面积和垃 圾类型的可视化报告回传给相关单位，随后环卫人员前去清理。从群众反馈问题到清运完成，全过程不 超过2小时。 这 ...

Core Insights - The article discusses the introduction of a shared drone economy in Wuhan, as outlined in the newly released "Guidelines for the Construction of Low-altitude Economic Standard System (V1.0)" [1][2] - The guidelines aim to promote urban shared drones across various application scenarios, including low-altitude tourism, logistics, emergency rescue, and urban governance [1][2] Group 1: Guidelines and Standards - The guidelines establish a comprehensive standard system covering six key areas: basic general standards, safety management, infrastructure, aircraft development, application scenarios, and support services [2] - Safety management is emphasized as a core component, creating a governance framework that balances risk management with industry service [2] Group 2: Economic Impact and Development - The low-altitude economy has been integrated into Wuhan's "965" modern industrial cluster, with over 170 related enterprises and more than 220 established low-altitude takeoff and landing points [2] - The implementation of the guidelines is expected to positively impact Wuhan's low-altitude economy by streamlining the entire chain from research and development to manufacturing, application, and service [2] - The guidelines provide clear technical specifications and entry guidelines for enterprises, reducing innovation and operational costs [2]