Core Insights - Didi Chuxing has established a new subsidiary, Didi Low Altitude Technology Co., Ltd., focusing on software development and AI applications rather than aircraft manufacturing [1] - The company aims to leverage its existing user base to create an "air version" of its ride-hailing platform, allowing users to easily book aerial rides through a mobile app [1] - The Chinese government has included "low-altitude economy" in its national development strategy, with over 30 provinces implementing supportive policies [1] Industry Developments - Other companies, such as Amap, are also entering the low-altitude economy, with Amap launching a low-altitude navigation solution [1] - The ultimate goal of many ride-hailing platforms is to consolidate all transportation needs into a single app, covering ground and low-altitude travel [5] - Companies are focusing on three core areas: strengthening existing ride-hailing services, entering the "air taxi" market, and advancing autonomous driving technology [5]

编者荐语： 科技趋势强化和产业规划落地或成为十月交易的主线。"十五五"规划将指引中国经济未来的发展方向，也将为资本市场提供重要的投资线索。叠加全球人 工智能行业的快速发展以及国内科技行业的突飞猛进，我们预计十月的资本市场仍将主要围绕科技行业做文章。 申万宏源证券上海分公司官微，能为您提供账户开立、软件下载、研究所及投顾资讯等综合服务，为您的财富保驾护航。 科技趋势强化和产业规划落地或成为十月交易的主线 。 "十五五"规划将指引中国经济未来的发展方向，也将为资本市场提供重要的投资线 索。叠加全球人工智能行业的快 速发展以及国内科技行业的突飞猛进，我们预计十月的资本市场仍将主要围绕科技行业做文章。国民经济 和社会发展五年规划的主要目的是为国民经济与社会发展的远景设定目标、指明方向，它会针对经济、改革、社会发展等领 域制定具体规 划。从五年规划经济结构主要指标的演变看，我国规划侧重点已从关注三次产业比例，逐步转向重视科技创新与研发投入。"十五五"期间 产业结构调整的首要方向是转型升级，同时"反内卷"与服务业发展也需重点关注。 梳理历次五年规划的变迁，可以看到我国对科技创新的重视呈趋势性增强，预计 "十五五"规划对科 ...

新华财经北京10月13日电四大证券报内容精华摘要如下： 中国证券报 A股前三季度业绩预告陆续披露。截至10月12日19时，A股共有51家上市公司对外披露前三季度业绩预 告，42家预喜，预喜比例达到82.35%。部分上市公司业绩预告发布后，股价出现较为明显的上涨。除 了业绩预告外，A股三季报也陆续披露，金岭矿业、道氏技术两家公司率先披露三季报，引发市场关 注。 ·前沿技术竞相亮相竞逐低空新蓝海 10月10日-12日，第二届中国（西安）国际低空经济发展大会在西安国际会展中心举办。大会现场集中 展示低空智能制造领域的无人机、eVTOL、飞行汽车、通用航空、轻型飞机、飞艇、低空通信导航、 低空监管等新产品与前沿技术。低空经济作为战略性新兴产业，正从小众试验走向大众视野。中国民航 局预测，2025年我国低空经济市场规模将达1.5万亿元，到2035年有望突破3.5万亿元。 上海证券报 ·挖" 出特色等风来定制指数基金乘势"突围 定制指数基金正在迎来新的机遇。此前，由于底层资产同质化、用户理解困难等多重原因，发展长期处 于"尴尬"状态的定制指数基金，近期凭借编制特色与市场风向，迎来规模的显著跃升。业内人士认为， 差异化定位 ...

10月10日-12日，第二届中国（西安）国际低空经济发展大会在西安国际会展中心举办。本届大会以"低空新机遇·经济新引擎－聚焦低空经济·共创数智未 来"为主题，旨在全球范围内汇聚顶尖智慧与前沿力量，共同擘画低空经济的发展蓝图。 大会现场集中展示低空智能制造领域的无人机、eVTOL、飞行汽车、通用航空、轻型飞机、飞艇、低空通信导航、低空监管等新产品与前沿技术。低空经 济作为战略性新兴产业，正从小众试验走向大众视野。中国民航局预测，2025年我国低空经济市场规模将达1.5万亿元，到2035年有望突破3.5万亿元。 产业集聚：陕西低空经济蓄势腾飞 目前，公司已成为国内少数具备无人机整机、飞控系统及软件控制平台全链条自主研发能力的企业，为贵州省生态环境厅、南方电网、国铁集团、广西交通 投资集团、中国电信等多家政府及国有企事业单位提供产品与服务。在新能源领域，公司已与国家能源集团、大唐集团、国家电投、华润电力、中电建、中 能建等央企开展行业应用合作。 目前，陕西低空经济稳步发展，产业链建设加快推进，全省无人机产业集群已渐成规模，产业区域分布特点鲜明。西安以研发制造为主，无人机产业链上企 业达400多家。 在政策方面，20 ...

● 本报记者 何昱璞 本次大会吸引了来自全国各地的一大批领军企业，通用航空直升机、碳纤维打造的轻型运动飞机、无人 机、飞机模拟驾驶舱、eVTOL……在低空经济创新发展大会的成果观摩区，各种先进的低空飞行装备 引人注目，多家低空经济企业带着各自的最新产品、前沿技术悉数亮相。 10月10日-12日，第二届中国（西安）国际低空经济发展大会在西安国际会展中心举办。本届大会以"低 空新机遇·经济新引擎－聚焦低空经济·共创数智未来"为主题，旨在全球范围内汇聚顶尖智慧与前沿力 量，共同擘画低空经济的发展蓝图。 大会现场集中展示低空智能制造领域的无人机、eVTOL、飞行汽车、通用航空、轻型飞机、飞艇、低 空通信导航、低空监管等新产品与前沿技术。低空经济作为战略性新兴产业，正从小众试验走向大众视 野。中国民航局预测，2025年我国低空经济市场规模将达1.5万亿元，到2035年有望突破3.5万亿元。 产业集聚：陕西低空经济蓄势腾飞 目前，陕西低空经济稳步发展，产业链建设加快推进，全省无人机产业集群已渐成规模，产业区域分布 特点鲜明。西安以研发制造为主，无人机产业链上企业达400多家。 在政策方面，2024年，《陕西省培育壮大千亿 ...

Investment Rating - The industry investment rating is "Strongly Outperform the Market" indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 to 12 months [45]. Core Insights - The low-altitude sector is currently positioned for a potential rebound, supported by ongoing catalysts and developments in industry policies. The sector has been relatively stagnant since the beginning of the year, with the broader market reaching new highs, suggesting that a catalyst could trigger a rebound in the low-altitude economy [4][25]. - Infrastructure development and the application of drones in various scenarios are critical for the industry's growth. The report emphasizes that foundational infrastructure is essential for the low-altitude economy to thrive, and the focus on drone applications is expected to gain momentum, particularly in military and civilian sectors [5][26]. Summary by Sections Market Review and Weekly Outlook - The Wind Low Altitude Economic Index decreased by 0.20% over the past week, ranking 165 out of 338 sectors, underperforming the broader market which saw a 0.37% increase in the Shanghai Composite Index [12][25]. - The low-altitude sector has remained flat, contrasting with significant pullbacks in other high-performing sectors like AI computing and humanoid robotics, indicating a potential for future growth as it awaits catalysts [4][25]. Industry Dynamics - Recent developments include the establishment of a leadership group by the Civil Aviation Administration of China (CAAC) for general aviation and low-altitude economy, signaling promising future policies [4][25]. - The report highlights various local government initiatives aimed at practical implementations such as route planning and airspace management, which are expected to foster growth in the sector [4][25]. Investment Recommendations - Suggested focus areas for investment include infrastructure companies such as Suzhou Planning and Lais Information, and drone manufacturers like Jifeng Technology and Henghe Precision [28]. - The report also recommends monitoring leading companies in capacity such as Wanfeng Aowei and Zongshen Power for potential investment opportunities [28].

电力设备 2025 年 10 月 12 日 低空经济行业周报（第三十七期）：零重力飞机完成 近 3 亿元 A+++轮融资，四川九洲拟参设 5001 万元 低空经济股权投资基金 ——行业周报 电力设备 行业走势图 数据来源：聚源 -17% 0% 17% 34% 50% 67% 2024-10 2025-02 2025-06 电力设备 沪深300 相关研究报告 《低空经济行业周报（第三十六期）： 中国移动主导首个低空经济共享设备 标准立项，多地低空经济支持政策持 续出台—行业周报》-2025.10.7 《固态电池行业周报（第十七期）： 中伟股份与厦钨新能战略合作，卫蓝 新能源获 D+轮融资引入绿色能源等 战投—行业周报》-2025.10.7 《固态电池行业周报（第十六期）： 中汽新能全固态电池计划 2026年装车 一汽示范车型，当升科技固态锂电正 极材料已实现 10吨级批量出货—行业 周报》-2025.9.28 殷晟路（分析师） yinshenglu@kysec.cn 证书编号：S0790522080001 零重力飞机完成近 3 亿元 A+++轮融资，四川九洲拟参设 5001 万元低空经济 股权投资基金 （1）行 ...

Core Insights - The "Global Ocean City Competitiveness Index Report (2025)" was released, evaluating 60 global ocean cities based on five dimensions: economic vitality, technological innovation, maritime services, international influence, and urban governance [1][3] - The report identifies Shanghai, Shenzhen, and Qingdao as the leading ocean economic circles in China, with Shanghai ranked as the global leader in economic vitality and port cargo throughput [1][3] Economic Circles Overview - The report categorizes global ocean cities into four distinct tiers, highlighting the competitive landscape [1] - Key cities and their rankings include: - London (1st) - Leading in technological innovation, maritime services, international influence, and urban governance [2] - New York (3rd) - Strong in economic vitality and international influence [2] - Singapore (2nd) - Top in economic vitality and maritime services [2] - Shenzhen (4th in innovation) and Qingdao (8th in innovation) are positioned as significant players in China's ocean economy [2][3] China's Ocean Economy - China's ocean economy has surpassed 10 trillion yuan, with a reported ocean GDP of 5.1 trillion yuan in the first half of the year, reflecting a year-on-year growth of 5.8% [3] - The northern, eastern, and southern ocean economic circles in China exhibit differentiated development based on regional resources and industrial foundations [3] - Shanghai leads in the global competitiveness ranking, while Shenzhen and Qingdao are in the second tier, indicating a need for Shenzhen to enhance its competitive edge [3][5] Shenzhen's Development Goals - Shenzhen aims to become a global ocean center city, with a target of achieving an ocean industrial output value of 215 billion yuan by the end of the 14th Five-Year Plan, with an annual growth rate of over 12% [5] - The city is focusing on technological integration in deep-sea equipment, renewable energy, and smart port operations to drive its ocean economy forward [5] Future Industry Initiatives - Shanghai is planning to establish national-level future industry pilot zones to foster technological innovation and industrial development [6] - Shenzhen is investing heavily in low-altitude industries, with financial support measures in place to boost the sector [7]

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通过全区发展改革政金企融资对接机制，企业与金融机构实现精准、直接的沟通对接。（自治区发展改革委供图） 如何疏通这样的堵点卡点？2024年2月，自治区发展改革委会同有关行业主管部门，建立了全区发展改革政金企融资对接机制，将全区重点投资项目融 资需求清单、开竣工项目清单推送给银行金融机构，并面向业主单位发放重点投资项目服务手册、金融服务手册，通过举办项目融资对接活动、项目推介路 演等方式，搭建起银企互动、高效对接的桥梁，破解银企信息不对称的问题。 广西金川有色金属有限公司铜系统工艺及数字化升级项目通过全区发展改革政金企融资对接机制获得银行资金支持。目前，该项目已建成投产。（广西 金川有色金属有限公司供图） "以前找银行贷款，需要经过复杂程序和漫长流程。现在，全区发展改革政金企融资对接机制直接将我们与银行对接起来，省了许多周折。"在8月29日 举办的全区政金企融资对接大会现场，一企业相关负责人道出了众多企业的心声。这场对接会，在前期工作的基础上，促成22笔企业与银行的融资意向签 约，授信金额919亿元。 金融是实体经济的血脉，金融活则经济活，金融稳则经济稳。为了畅通企业融资渠道，服务实体经济，广西创新建立全区发展改 ...