Group 1 - The company's revenue for the first quarter of 2025 reached 38.77 million yuan, representing a year-on-year increase of 42.20% [1] - The company reported a net loss of 27.93 million yuan, which is an improvement compared to a net loss of 29.04 million yuan in the same period last year [1]

齐鲁晚报·齐鲁壹点 赵原雪 风口之上，机会发生。 低空经济持续占据产业风口。这意味着谁最先抢占"制空权"，谁就有领飞未来的可能。 对于与京东物流集团的这次最新对接，山东轻工职业学院相关负责人透露，目前，双方正基于校内现有 的快递物流配送体系展开"低空经济"业态的深度探索，有望率先解锁校内、校区无人机配送等更多智慧 物流的"未来场景"。 事实上，身为国内头部物流企业，在科技与物流深度融合的当下，京东物流集团已将"低空+物流"视作 城市物流配送的重要环节，并在南京、上海、西安、广州、宿迁等地进行了无人机配送试点。同时，在 无人机产品领域，京东物流集团还推出了"京燕"和"京鹊"两大系列物流无人机产品。 低空经济是以低空飞行活动为核心，以无人驾驶飞行、低空智联网等技术组成的新质生产力与空域、市 场等要素相互作用，带动低空基础设施、低空飞行器制造、低空运营服务和低空飞行保障等领域发展的 综合性经济形态。 一个重要信号是，继2024年首次写入政府工作报告后，2025年"低空经济"再度被提及，且表述从上年 的"积极打造"递进为今年的"推动应用落地"。 值得关注的是，今年1月，淄博低空经济"一体两院"（淄博市低空经济产教联合 ...

Group 1: Core Industry Developments - Sichuan's artificial intelligence industry is emerging with a comprehensive coverage of the entire industrial chain, including chip design and robot joint research, positioning it at the forefront nationally [2] - The province is accelerating the development of green hydrogen energy, low-altitude economy, and drone industries, leveraging its resource advantages to create new growth engines [1][2] - Sichuan has established a robust low-altitude economy and drone industry chain, supported by its status as one of the first pilot areas for low-altitude airspace management reform [2][3] Group 2: Innovations and Projects - The province is set to showcase a range of AI products, including humanoid robots and industrial robots, with over 80% coverage of industrial scenarios by Kanopu's self-developed robots [2] - Sichuan is advancing its green hydrogen industry, with over 150 companies and research institutions involved, achieving technological breakthroughs in fuel cells and hydrogen equipment [3][4] - New projects such as the first commercial hydrogen production project using photolysis are underway, highlighting the province's commitment to innovation [4] Group 3: Ecosystem and Collaboration - Sichuan emphasizes a "chain-based" growth strategy to optimize its industrial ecosystem, focusing on resource concentration and collaborative development [5][6] - The province is fostering deep integration between innovation and industry chains, with universities and research institutions playing a crucial role in enhancing the competitiveness of emerging industries [6][7] - Companies like Zongheng Automation are leading the industrial drone sector, contributing to the formation of an industrial cluster in Chengdu [5][6] Group 4: Policy and Investment - Sichuan is addressing regional and industrial development imbalances through targeted reforms and investment attraction strategies, enhancing its hydrogen energy industry chain [8][9] - The establishment of a 20 billion yuan industrial investment fund aims to support technology-driven enterprises and improve financial services for emerging sectors [9][10] - Continuous reforms in state-owned enterprises and market mechanisms are being implemented to optimize the business environment and stimulate economic growth [8][9]

Group 1 - The low-altitude economy is rapidly developing, with drone systems accelerating their integration with automobiles [1] - The "Tianying" intelligent vehicle-mounted drone system by Puzhou Technology is set to be delivered in Q3 of this year, featuring a modular design that allows compatibility with various vehicle types [1][2] - The system includes advanced features such as point-to-point flight, vehicle-following, and customizable flight modes, making it user-friendly [1] Group 2 - The "Tianying" drone is equipped with a unique 4K full-color starlight night vision camera, capable of high ISO sensitivity for clear video capture in low-light conditions [2] - Puzhou Technology emphasizes user-centric development, leveraging experience from over 300 cities to enhance the integration of professional drone technology in intelligent driving safety [2] - The Chinese low-altitude economy is expected to experience explosive growth, with the introduction of the "Tianying" system marking a significant milestone in the development of the intelligent mobility industry [2]

美国IPO每周回顾：小型外国发行人在美国上市，而重要IPO继续推迟 本周，少数几家小型发行人在美国上市，还有四家SPAC加入。 文章来源：金准资本 美国IPO下周展望：尽管市场持续存在不确定性，但仍有两家公司可能首次公开募股 下周将有两家IPO公司上市，不过有些交易可能会在最后一刻调整日程。 航空航天和国防公司AIRO ( AIRO ) 暂定计划融资7500万美元，市值达到3.81亿美元。AIRO 的业务分为四个运营部门：无人机、航空 电子设备、培训和电动空中机动。该公司在 2024 年实现了强劲增长，利润率也有所提高，不过其收入严重依赖政府客户。 中国保险分销商元保( YB ) 计划融资 2800 万美元，市值达到 6.83 亿美元。该公司专营个人人寿、意外和健康保险。元保与46家保险 公司合作，提供多样化的保险产品组合，包括医疗、重大疾病和人寿保险。 总部位于马来西亚的TMD Energy ( TMDE ) 以低端价格发行，以7500万美元的市值筹集1000万美元。TMD提供船用燃料加油服务，专 门从事船用天然气和燃料油的供应和营销。该公司在马来西亚各地的港口运营，也拥有一支加油船队。TMD最终下跌 54 ...

Core Viewpoint - The report predicts that by 2030, China's drone industry will reach a trillion yuan scale, driven by the development of low-altitude economy [1][2] Group 1: Low-altitude Economy Development - The low-altitude economy has significant driving effects on primary, secondary, and tertiary industries, characterized by strong radiation capability and high technological content [1] - Local governments are accelerating the planning and construction of low-altitude supporting infrastructure [1] - The report emphasizes the need for unified industry standards for air traffic command platforms and ground flight service platforms to meet future high-frequency and normalized flight demands [1] Group 2: eVTOL and Future Projections - Starting in the second half of this year, eVTOL (electric vertical takeoff and landing aircraft) will conduct frequent test flights in limited airspace [1] - By 2027, some major cities and provincial capitals are expected to achieve eVTOL commercialization [1] - By 2030, eVTOL is anticipated to be rapidly popularized and promoted in major cities, gradually entering households [1] Group 3: Drone Industry Trends - The future of drones will see a closer integration with AI, transitioning from consumer-grade drones to larger, functional types, with each segment being a billion-level market [2] - The report suggests that regions should focus on top-level design, improve infrastructure and supporting facilities, and gradually expand the application market to drive industrial development [2]

Investment Rating - The industry investment rating is "Positive" [6] Core Viewpoints - The low-altitude economy is experiencing significant support from both central and local government policies, with a focus on funding and scene development to accelerate commercialization [3][19] - The recent issuance of 200 billion yuan in special bonds for equipment updates is expected to benefit low-altitude equipment, including consumer drones and eVTOLs [24] - The low-altitude economy is transitioning from conceptualization to commercialization, with various companies showcasing eVTOL products at the Shanghai Auto Show [19][31] Summary by Sections 1. Weekly Sector Review - The average change in A-share related to the low-altitude economy from April 21 to April 25 was +3.6%, driven by improved risk appetite due to easing tariff expectations [4][11] - Top gainers included Xincheng Technology (+37.2%), Wanfu Ovi (+14.7%), and Guangyang Co. (+13.1%) [11][13] 2. Industry Dynamics - Meituan's self-developed drone received the first nationwide low-altitude logistics operation certificate [22] - The establishment of the Guangzhou Low-altitude Economy Development Company with a registered capital of 300 million yuan aims to support the industry [25] - The first low-altitude economic fund in Sichuan province has been registered, focusing on eVTOL manufacturing [34] 3. Individual Company Updates - Xincheng Technology is developing a low-altitude comprehensive management service platform [36] - Xinnengda has partnered with Aerospace Feipeng to enhance drone performance with high-performance batteries [37] - Jinfeng Co. is collaborating with Tsinghua University to develop a ducted fan propulsion system for flying cars and industrial drones [38] - Yinheng has delivered a prototype electric propulsion system for EHang's new model [41] - Jifeng Technology's controlling shareholder has changed to the actual controller of Shenzhen United Aircraft Technology Co., which specializes in drone development [43]

Core Viewpoint - The company plans to repurchase its shares to enhance investor confidence and establish a long-term incentive mechanism, with a total repurchase amount between RMB 100 million and RMB 200 million [7][20]. Financial Data - The repurchase price will not exceed RMB 60.52 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [21]. - The estimated number of shares to be repurchased ranges from approximately 165.23 million shares (at the lower limit) to 330.46 million shares (at the upper limit), representing about 0.24% to 0.49% of the company's total share capital [20]. Shareholder Information - Major shareholders, including Chengdu Industrial Investment Group Co., Ltd., have disclosed plans for share reduction, but no other major shareholders have immediate plans to reduce their holdings [8][27]. - The chairman and other executives have plans to increase their holdings during the repurchase period [8][29]. Repurchase Plan Details - The repurchase will be conducted through the Shanghai Stock Exchange via centralized bidding and is expected to be completed within 12 months from the approval date by the shareholders' meeting [12][13]. - If the repurchased shares are not transferred within three years, they will be canceled [18][29]. Legal and Compliance - The repurchase plan requires approval from the shareholders' meeting and must comply with relevant regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange [10][32]. - The company has confirmed that there are no insider trading or market manipulation activities related to the repurchase proposal [26][29]. Impact on Company Operations - The repurchase is not expected to significantly impact the company's operations, financials, or debt servicing capabilities, as the funds will come from the company's own resources [25]. - The company's total assets as of December 31, 2024, were RMB 872.89 million, with a debt-to-asset ratio of 34.86%, indicating a stable financial position to support the repurchase [25].

近日，未可知人工智能研究院副院长张孜铭老师受邀前往四川省峨眉市，为中航无人机的团队 开展了一场主题为 " AI 与新质生产力：生成式 AI、人形机器人、自动驾驶和低空经济 " 的前 沿培训。 此次培训 旨在帮助中航无人机的成员们深入了解人工智能技术的最新发展动态 ，以及其在不 同领域的应用前景，助力企业在低空经济等新兴领域的探索与布局。 张孜铭老师是人工智能领域的资深专家，同时也是畅销书《 AIGC：智能创作时代》的作者。 他拥有北京大学管理学硕士、新加坡国立大学金融工程硕士等学位， 还担任未可知集团联合创 始人、科技加速器 Quadratic Acceleration Quantum 合伙人以及元宇宙教育实验室智库专 家等职务。 张老师在人工智能标准制定、技术研发以及行业应用等方面都有着丰富的经验，此次培训内容 丰富且极具前瞻性。 培训中，张老师首先介绍了 人工智能与新质生产力的紧密联系 。他指出，新质生产力具有高 科技、高效能、高质量的特点，而人工智能技术正是推动其发展的重要核心。 接着，张老师深入讲解了生成式 AI 行业的概览与应用案例。 从 AI 办公中的文本、图像、PPT 生成与数据处理，到企业 A ...

数字低空工作组 低空经济场景应用与通信需求白皮书 2025.4 数字低空工作组 内容摘要 低空经济作为国家战略性新兴产业，依托无人机、eVTOL 等航空器及新一代信息技术，正成为经 济增长新引擎。中国将低空经济纳入"十四五"规划，多地出台专项支持措施，目标至 2025 年市场规 模达 1.5 万亿元。产业链涵盖上游材料与核心部件、中游航空器制造与保障系统，以及下游多元应用 场景。长三角、大湾区及川渝地区通过基设施建设和场景创新引领产业集聚。无人机在农林植保、物 流配送、城市安防、能源巡检等领域显著提升效率；eVTOL 技术推动城市空中交通，缩短通行时间并 拓展低空文旅体验。低空信息通信系统需满足高精度导航、稳定通信、智能监管等需求，通感一体化 网络实现空域动态管理。未来，5G-A 及 6G 技术将加速低空经济智能化，通感融合与算力协同助力空 域资源高效利用，预计 2035 年市场规模突破 3.5 万亿元，成为全球城市空中交通的核心市场，重塑交 通与产业生态。 | 内容摘要 | | 2 | | --- | --- | --- | | 1.引言 | | 5 | | 1.1 | 背景介绍 | 5 | | 1.2 | ...