Core Viewpoint - Chengdu Transportation Investment Group is focusing on developing a low-altitude economy by establishing a comprehensive management service platform and enhancing infrastructure to support low-altitude operations, particularly in preparation for the 2025 World Games in Chengdu [6][8]. Group 1: Low-altitude Industry Development - The company is building a "1+2+6+N" low-altitude industry development system, which includes two major systems of park operation and low-altitude services, and six capabilities such as infrastructure support and low-altitude operations [6]. - Chengdu Transportation Investment Group has established a low-altitude service company in partnership with Chengdu Tian Investment Group, marking the first of its kind in Sichuan [8]. Group 2: Infrastructure and Technology - The low-altitude management platform and ground support facilities are critical for the low-altitude economy, which has more complex management needs compared to traditional transportation [8]. - The low-altitude management service platform has seven modules, including flight dynamic monitoring and flight activity management, providing essential services for government departments and enterprises [8]. Group 3: Application Scenarios - The use of drones for highway inspections has significantly improved efficiency, reducing inspection time from 90 minutes to approximately 40 minutes [8]. - Chengdu Transportation Investment Group is expanding various application scenarios, including highway inspections, medical logistics, and postal delivery in remote areas [8]. Group 4: Ecosystem Development - The Chengdu Huai Prefecture New City is becoming a hub for low-altitude enterprises, attracting industry leaders due to its comprehensive ecosystem and services [8]. - The company is integrating resources for investment, infrastructure, and operational services to create a low-altitude economic ecosystem, including a drone testing platform and a low-altitude logistics transfer center [8].

Core Viewpoint - The low-altitude economy and military aviation sectors are experiencing significant growth, with the Huabao General Aviation ETF (159231) reaching a record high since its listing, reflecting a 21.63% increase since April 29 [1][4]. Group 1: Market Performance - The Huabao General Aviation ETF closed up 3.29%, marking a new high since its inception [1]. - Key stocks in the sector saw substantial gains, with Aileda hitting a 20% limit up, and other companies like Lijun Co. and Aerospace Electronics also reaching near 10% increases [2][3]. Group 2: Industry Outlook - The global manufacturing sector is undergoing a transformation, with PwC predicting that by 2035, manufacturing will contribute over $34 trillion to global GDP [4]. - The Chinese low-altitude economy market is expected to reach a market size of 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035, driven by strong government investment and policy support [4][5]. Group 3: Strategic Developments - The establishment of a leadership group by the Civil Aviation Administration of China for general aviation and low-altitude economy indicates a commitment to policy development [4][5]. - The release of the "Low Altitude Economy Infrastructure Framework Guidelines (2025 Edition)" by the China Civil Airports Association outlines 21 core indicators for low-altitude infrastructure, marking a significant step in systematic planning [5]. Group 4: Investment Opportunities - The Huabao General Aviation ETF covers a wide range of sectors, including military and civilian aviation, with over 46% of its holdings in state-owned enterprises and more than 20% in major military groups [6]. - The ETF's newly launched connection funds provide an accessible investment tool for capturing opportunities in the burgeoning general aviation industry [7].

8月4日，低空经济+军工航空双双爆发，一键覆盖"低空经济+大飞机+军民融合+商业航天"的通用航空 ETF华宝（159231）场内价格一路攀升，最终收涨3.29%，收盘价格创上市以来新高！4月29日上市以 来场内价格累计涨幅21.63%。从技术面来看，日K强势站上5日、10日均线，整体走势或仍处于上升通 道。 成份股方面，爱乐达20CM涨停封板、利君股份、航天电子10%涨停，振芯科技涨超10%、洪都航空涨 超7%，中科星图涨超6%，绿能慧充、中信海直等多股涨超5%。 | | 代码 | | 现价 | 涨跌幅 | | --- | --- | --- | --- | --- | | | 300696 | 爰乐达 | 30.12 | 20.00% | | 2 | 300101 | 振芯科技 | 23.71 | 10.23% | | 3 | 002651 | 利君股份 | 12.94 | 10.03% | | 4 | 600879 | 航天电子 | 10.79 | 9.99% | | 5 | 600316 | 洪都航空 | 44.85 | 7.07% | | 6 | 688568 | 中科星图 | 39.12 | 6.7 ...

每经编辑｜程鹏 随着低空经济的快速发展，不少旅游景区推出了乘坐低空飞行器观光、体验等项目，受到游客欢迎。但这类空中游览项目也暴露出一些隐忧，甚至是安全 问题。 景区观光直升机坠落砸中游客 致1人死亡4人受伤 今年5月2日下午5点多，江苏苏州吴中区的奥诗汀繁花景区的一架载有4人的观光直升机在下降过程中，突然从约十米高的位置快速下坠。 目击者：坠落地点是拍照的地方，就看到直升机下来了，当时现场都不敢动，害怕出现二次伤害。 游客拍摄的视频显示，飞机坠落在距离起降场50米的景区内，砸到了一名正在地面拍照的游客。目击者回忆，事故发生20分钟后，救护车和其他救援力量 赶到景区，将伤者紧急送往医院。 根据游客此前拍摄的景区视频，直升机的起降场是用栏杆在草坪上围出的长方形区域，面积还没有一个篮球场大，四周有一人多高的篱笆墙和高大树木。 由于场地狭小，直升机常从游客头顶呼啸而过。 景区工人告诉记者，空中游览的价格是单人288元，3个人688元，每天都有大量游客排队体验。景区内只有这一架直升机，五一假期游客多，直升机差不 多每十分钟起降一次，每天超过8小时运行。事发当天，这架飞机就是从早到晚频繁起降、飞行后，突然掉落的。 据官方 ...

Core Insights - The low-altitude economy is identified as a strategic emerging industry in China, with significant growth potential and a leading position in global technology and standards [1][2] - The National General Aviation Industry Index has shown a remarkable return of 220% since its base date, indicating strong market performance, especially as the low-altitude economy is set to enter a high-growth phase post-2024 [1][2] Industry Overview - The low-altitude economy is a crucial component of China's transportation network planning, supported by numerous government policies [2] - The market for low-altitude drones in China is projected to exceed 3.1 trillion yuan by 2035, while the market for manned eVTOLs is expected to surpass 500 billion yuan [2] Investment Opportunities - The E Fund General Aviation ETF (159255) tracks the National General Aviation Index, which encompasses companies across various sectors of the low-altitude economy, including manufacturing, operational services, and infrastructure [2][4] - The current market liquidity and positive sentiment are driving investor interest in growth sectors like the low-altitude economy, which is on the verge of significant expansion [4]

Group 1 - The low-altitude economy and military aviation sectors are experiencing significant growth, with the General Aviation ETF Huabao (159231) seeing a price increase of 3.21%, nearing its listing high [1][4] - Key stocks in the General Aviation ETF include Aileda, Lijun Co., and Aerospace Electronics, all of which have reached their daily limit up, while Zhenxin Technology and Hongdu Aviation have also shown strong gains [1][3] - The low-altitude economy is emerging as a vital engine for new productivity, with various applications in urban governance, air traffic, and emergency rescue, as China actively develops the drone industry [1][3] Group 2 - Local governments are making substantial progress in low-altitude economic development, with Shenzhen launching a comprehensive drone testing center and Guangdong forming a complete industry chain valued over 100 billion [3] - The overall sentiment in the low-altitude sector is positive, with expectations for a rebound driven by favorable technical conditions, top-level design initiatives, and new policies from the Civil Aviation Administration of China [3] - The General Aviation ETF Huabao covers a wide range of sectors, including military and civilian aviation, with over 46% of its components being state-owned enterprises and more than 20% from the top ten military groups [3][4]

Core Viewpoint - The A-share market experienced a rebound with significant growth in military-related sectors, particularly in general aviation, driven by supportive government policies and market potential in low-altitude economy and commercial aerospace [1][2]. Group 1: Market Performance - The three major indices in the A-share market opened low but rose significantly in the afternoon, with military-related concepts such as military information technology, aircraft carriers, and commercial aerospace witnessing collective surges [1]. - The National General Aviation Industry Index saw a rise of over 3% during trading, with constituent stocks like Aileda, Lijun Co., and Aerospace Electronics hitting the daily limit [1]. Group 2: Investment Opportunities - The newly listed General Aviation ETF (159255) achieved a strong debut with a half-day trading volume of 230 million yuan, leading among similar index ETFs [1]. - The National General Aviation Industry Index comprises 50 stocks related to various sectors of the general aviation industry, including aircraft manufacturing and operational services, indicating a broad investment opportunity [1]. Group 3: Industry Outlook - The low-altitude economy is recognized as a strategic emerging industry in government work reports, with substantial support from various levels of government, suggesting a favorable environment for growth [1]. - The market potential for the drone low-altitude market is projected to exceed 3.1 trillion yuan by 2035, while the manned eVTOL market is expected to surpass 500 billion yuan [1]. - CITIC Securities indicates that the commercial aerospace and low-altitude economy sectors may accelerate in development due to events like commercial rocket launches, recommending investors to pay attention to related opportunities [1].

Core Viewpoint - The low-altitude economy sector has underperformed compared to the Shanghai Composite Index during the reporting period, indicating a need for further development and investment in this emerging industry [1][2]. Market Performance - The Wind Low Altitude Economy Index increased by 0.62%, lagging behind the Shanghai Composite Index by 0.10 percentage points, but outperforming the CSI 300 Index by 0.71 percentage points and underperforming the ChiNext Index by 1.37 percentage points [1][2]. - The National General Aviation Index rose by 0.35%, underperforming the Shanghai Composite Index by 0.37 percentage points, outperforming the CSI 300 Index by 0.44 percentage points, and lagging behind the ChiNext Index by 1.64 percentage points [1][2]. National and Local Policy Support - The National Development and Reform Commission emphasized the importance of promoting high-quality development in the low-altitude economy during a meeting on July 31 [2]. - Shenzhen's Development and Reform Commission released a plan for high-quality construction of low-altitude infrastructure from 2024 to 2026, aiming to establish itself as the "global low-altitude economy capital" [2]. - Guangdong Province's Data Bureau issued a plan to build a credible data space for the low-altitude industry by the end of 2027, fostering a data-driven ecosystem [2]. Strategic Collaborations and Developments - Volant Aviation signed a strategic cooperation agreement with Thailand's Pan Pacific and China Aviation Technology International Engineering, involving the procurement of 500 eVTOL aircraft valued at $1.75 billion [3]. - Hubei Province signed agreements for the establishment of low-altitude economic comprehensive experimental zones, focusing on interconnectivity and sustainable business models [3]. - Peak Aviation delivered the world's first eVTOL aircraft with all three necessary certifications, indicating advancements in the eVTOL sector [4]. - Joby Aviation announced plans to launch eVTOL passenger flights in the Middle East by spring 2026, marking a significant step in commercial operations [6]. Investment Recommendations - The low-altitude economy is gaining national strategic focus, with local policies accelerating support and resource allocation. Key areas for investment include components, complete aircraft, infrastructure, and air traffic management [6]. - Relevant companies include: - Upstream components: Yingboer, Zongshen Power, Wolong Electric Drive, Zongheng Communication, Zhonghe Technology [6]. - Complete aircraft manufacturers: EHang Intelligent, Wanfeng Aowei, XPeng Motors, Green Energy Huichong [6]. - Air traffic management systems: Lais Information, Shenzhen Urban Transport, Sichuan Jiuzhou, Sujiao Science and Technology [6]. - Supporting services: Guangdian Measurement, Huace Testing, Weihai Guotai, Hite High-tech [6].

Core Insights - China's independently developed 2-ton eVTOL "Kairuiou" successfully completed the world's first material transport flight to an offshore oil platform, marking a significant advancement in low-altitude logistics applications [1][3] Group 1: Technological Breakthrough - The successful test flight was a collaboration between China National Offshore Oil Corporation (CNOOC), CITIC Offshore Helicopter, and Fengfei Aviation, showcasing the first eVTOL to receive necessary certifications [3][4] - The eVTOL transported fresh fruits and emergency medical supplies from a land point in Shenzhen to the Huizhou 19-3 platform, located 150 kilometers offshore, completing the journey in 58 minutes [3][4] Group 2: Operational Advantages - Traditionally, CNOOC relied on ships for material transport, which took approximately 10 hours, and helicopters for urgent supplies, which were costly. The eVTOL offers significant advantages in operational costs, response speed, environmental impact, comfort, and suitability for limited takeoff and landing spaces [4][6] - The "Kairuiou" features a compound wing design, with a range of 200 kilometers, a maximum speed of 200 kilometers per hour, and a payload capacity of 400 kilograms, demonstrating its capability in challenging maritime conditions [6] Group 3: Future Prospects - The development of eVTOL technology is expected to enhance operational efficiency and safety for offshore oil platforms, providing innovative solutions for personnel rotation, emergency medical rescue, and rapid transport of high-value components and materials [7] - The low-altitude economy in China is projected to reach 3 trillion yuan by 2030, with innovative applications in marine scenarios anticipated to be a significant growth driver [7]

顶层政策大力支持： 低空经济是万亿新赛道： 在各级政策的支持下，当前我国低空试点城市已初具规模，相关经验储备已较为丰富，即将开启大范围 推广的高速建设阶段。近日深圳等地高频发布新的低空建设规划，并不断有龙头厂商签下大单，均验证 了行业的高速发展阶段已经来到。 低空经济已在无人巡检、农业耕种等领域有成熟应用，显著节约人力成本并大幅提高经济效益，市场空 间正加速打开，到2035年我国无人机低空市场空间有望超3.1万亿元，有人eVTOL也将有超5000亿空 间。 用ETF布局万亿赛道： 我国是全球低空经济产业的引领者： 低空产业链涉及基础设施建设、飞行器制造、运营服务、飞行保障等细分方向，相关环节众多，通用航 空ETF易方达（159255）一键打包全产业链龙头，是捕捉行业高速发展时期重要贝塔的优质工具。 我国率先为低空飞行器evTOL颁发全球首张的四类合格证，意味着我国是全球第一个有evTOL飞行器具 备商业化运营能力的国家。 行业正来到加速商业化建设的关键节点： 低空经济是写入政府工作报告的战略新兴产业，是我国交通网规划中的重要组成部分，各级政府均出台 大量支持性政策，为低空经济保驾护航。 ...