Group 1 - Approximately 120 students and faculty from the Civil Aviation University of China have commenced a 4-day internship at Jinan Shanghe Airport, marking a deeper collaboration between government, academia, and industry [1] - A working group has been established by the Shanghe General Aviation Industry Service Center and on-site enterprises to ensure the smooth execution of the activities, focusing on safety management and operational protocols [1] - The curriculum is designed to align students' professional skills with industry needs, incorporating resources from Shanghe Airport and emphasizing the unique aspects of the unmanned aerial vehicle system engineering program [1] Group 2 - The theoretical courses include modules on general airport site selection, construction, and operation, as well as practical explorations in the low-altitude economy and current trends in general aviation [2] - Practical training involves immersive projects such as flight tower command and operation control, flying principles and operations of light sport aircraft, and drone assembly and debugging, along with flight performance observation to stimulate innovative thinking [2] Group 3 - Shanghe Airport, the only A1-level general airport in Jinan, supports various aircraft operations, including fixed-wing planes, helicopters, drones, and eVTOLs, and has introduced 16 on-site enterprises [3] - Since its operation, the airport has facilitated 1,800 hours of safe flights and 9,400 flight operations, providing a range of general aviation support services [3] - Five innovative research topics have been proposed to address the low-altitude economic development needs of Shanghe County, aiming to enhance the local economy and establish a demonstration zone for low-altitude economic development [3]

5月28日，2025国际低空经济博览会全国巡回推介会武汉站在武汉经开区举办，长江日 报记者从会上获悉，武汉要建1000个低空飞行器起降场点。 "目前湖北已经启动低空经济'一张网'建设，预计6月底初步搭建完成，年底正式建 成。"湖北省低空综合服务有限责任公司董事长易建尧表示，将持续推动市州平台建设及数 据接入工作，实现低空飞行计划"一窗受理、一网通办"，确保低空飞行"看得见、叫得着、 管得住"。 易建尧透露，正在推动的"一核多点"低空经济综合试验区建设，以武汉市为中枢核心， 在8个区同步开展，目前全市已布局1000个低空飞行起降场、起降点，初步形成低空地面基 础设施网，今年还将重点突破一批应用场景建设，力争打造具有全国影响力的低空经济建设 高地。 当前，武汉低空经济产业氛围浓厚。前不久，武汉首个低空生态中心在汉阳开建，目标 打造百亿级低空产业集群。随后，位于武汉经开区的华中智能飞行器产业基地（一期）主体 结构全面封顶。会上透露，该产业园预计今年下半年建成投用。 作为武汉经开区通航产业园的"园中园"，华中智能飞行器基地依托汉南通用机场、低空 经济产业园等区域资源优势，重点布局无人机及电动垂直起降飞行器研发、制造、 ...

Group 1: Company Overview and Core Competencies - The company has a comprehensive brand influence and has been a benchmark in the industry for 41 years, fulfilling social responsibilities and responding to national strategies [1] - It possesses the largest civil helicopter fleet in Asia and has full operational qualifications in general aviation [1] - The company has achieved over 500,000 flight hours with an excellent safety record, making it a leader in safety within the industry [2] Group 2: Current Operations and Future Plans - Current routes include regular flights from Shenzhen to Zhuhai and multiple sightseeing routes within Shenzhen [2] - The company plans to continue expanding its routes to meet diverse travel needs [2] Group 3: Financial Performance and Profitability - The gross profit margin for 2024 is reported at 23.04%, an increase of 1.88% from the previous year [2] - Future measures to enhance profitability include fleet upgrades and cost reduction strategies [2] Group 4: Competitive Advantages in Marine Oil Business - The company has over 40 years of experience supporting national marine oil and gas development, maintaining a strong market presence [2] - It aims to continue providing high-quality marine oil flight services while monitoring opportunities in Southeast Asia and the Middle East [2] Group 5: Safety Management System - The company has implemented a unique safety management system that complies with international civil aviation standards, contributing to its leading position in the industry [3] - It has installed advanced safety monitoring systems to further enhance operational safety [3] Group 6: Fleet Composition - The company operates the largest civil helicopter fleet in Asia, including models from Airbus, Sikorsky, and Leonardo, along with 14 drones deployed in various locations [3]

Group 1 - Guangdong Guangsheng Low-altitude Industry Investment Holding Company has been established in Shenzhen with a registered capital of 50 million RMB [1] - The legal representative of the company is Zhao Zhe, and its business scope includes general component manufacturing, sales of intelligent unmanned aerial vehicles, sales and research of intelligent robots, industrial robot sales, general aviation services, civil airport operations, and design and production of civil aircraft components [1] - The company is wholly owned by Guangdong Guangsheng Emergency Safety Technology Co., Ltd [1]

2025年5月25日，第九届世界无人机大会深投联分会场活动举办，与会者围绕低空经济作为新兴经济平 台的高质量发展展开讨论。本次大会主办单位有企业投资者联合会、深圳市无人机行业协会、深圳市英 武智能科技有限公司。 低空经济与金融天然契合 低空经济依托通用航空产业，融合旅游、物流、应急救援等多个领域，被视为推动经济转型升级的关 键。与会者强调了金融在低空经济发展中的重要角色，提出通过创新金融产品和服务，如天使投资基 金、股权投资基金、融资租赁服务以及商业银行和保险机构的支持，来满足低空经济领域的资金和技术 需求。 此外，深圳市企业投资者联合会执行会长金炯还呼吁拓宽融资渠道，建立风险覆盖广泛的低空经济保险 业务体系，以促进低空经济健康发展。 香港荣信实业集团董事长、香港国际投资总会常务主席荣维清表示，低空经济以通用航空产业为基础， 涵盖旅游、物流、应急救援、工农业作业等多个领域，对推动经济结构转型和实现高质量发展意义重 大。其良好的发展前景将吸引天使投资基金、股权投资基金、风险投资基金以及产业发展基金的关注， 且低空经济相关产业主体设备购置资金需求较大，与融资租赁服务契合度高，也为商业银行和保险机构 带来了前所未有 ...

Group 1 - The 31st AERO Friedrichshafen General Aviation Exhibition showcased the RX4E four-seat electric aircraft from Liaoning General Aviation Research Institute, which won the 2025 Electric Aviation Expo Award and the Sustainable Aviation Award [1][4] - The RX4E is the world's first electric aircraft to obtain the Type Certificate (TC) from the aviation authority under normal category, demonstrating excellent flight performance during the exhibition [4] - Liaoning General Aviation Research Institute established cooperation intentions with several international companies, including discussions with Dutch and Belgian flight schools for pilot training and collaboration with Hong Kong's Volar Air Mobility for certification and sales in Southeast Asia and the Middle East [4] Group 2 - The Shenyang Trade Promotion Council provided comprehensive support for the exhibition, including assistance with the ATA Carnet, which facilitated the efficient customs clearance of the aircraft and related exhibits [3] - The council's one-stop service included exhibition information consultation, market research, and business matchmaking, tailored to meet the specific needs of Liaoning General Aviation Research Institute [3][5] - The successful participation in the AERO exhibition enhanced the international visibility and influence of Liaoning General Aviation Research Institute, laying a solid foundation for future international cooperation and promoting the internationalization of the aviation industry in Shenyang and Liaoning Province [5]

Core Viewpoint - The low-altitude economy is emerging as a significant sector in China's economic development, with Hainan positioned as a leading area for this growth, attracting investments from companies like Shuangfu Technology [1][3]. Industry Overview - Hainan's low-altitude economy benefits from favorable conditions, including diverse application scenarios such as low-altitude tourism and aviation sports, which are becoming increasingly popular [3]. - The province's natural attractions, including its coastline and tropical rainforests, enhance its appeal for low-altitude tourism, with activities like helicopter sightseeing and hot air balloon experiences drawing both domestic and international tourists [3]. - The warm climate in Hainan supports various aviation sports, including paragliding and model aircraft, with numerous events attracting participants and enthusiasts [3]. Company Activities - Shuangfu Technology is actively investing in low-altitude tourism projects to enhance visitor experiences and capitalize on market opportunities [3]. - The company is also supporting the aviation sports industry by investing in training facilities and promoting events, contributing to the sector's growth [3]. - Market data indicates that Hainan's general aviation operations are projected to reach 25,505 hours in 2024, highlighting the region's leading position in low-altitude flight operations [5]. - Shuangfu Technology is diversifying its investments across various sectors, including low-altitude tourism, aviation sports, medical emergency response, and aerial logistics, aiming for substantial economic returns while fostering the rapid development of Hainan's low-altitude economy [5]. - The low-altitude economy in Hainan is recognized as a new high ground for global development, with Shuangfu Technology committed to leveraging its strengths to seize opportunities in this promising field [5].

Core Viewpoint - The company is committed to transforming public transportation through innovative technologies, focusing on automotive lightweighting and general aviation manufacturing as dual engines for growth [2][3]. Group 1: Automotive Lightweighting Business - Founded in 2001, the company has developed a dual-engine growth model centered on automotive lightweighting and general aviation manufacturing [3]. - In 2024, the company achieved a revenue of 16.264 billion yuan, with over 80% of this revenue coming from the automotive lightweighting sector [3]. - The company is a leading player in the aluminum alloy wheel hub market and has successfully transitioned to support new energy vehicles, establishing long-term partnerships with major manufacturers [3]. - The magnesium alloy die-casting segment is facing a sales decline due to product lifecycle issues, but the aluminum alloy business is experiencing growth [4]. Group 2: General Aviation Manufacturing - The general aviation manufacturing business saw a revenue increase of 1.62% year-on-year in 2024, becoming the company's second-largest growth driver [5]. - The company has established a comprehensive sales network with 192 service agents globally, and its production bases are located in various countries including Canada, Austria, and Germany [6]. - The company has restructured the core assets of Volocopter GmbH to enhance its eVTOL product development capabilities, integrating advanced technologies for urban air mobility [6][7]. Group 3: Future Development and Strategy - The company plans to continue its dual-engine strategy, focusing on automotive lightweighting and general aviation manufacturing while expanding its global footprint and technological innovation [8]. - Future plans in the eVTOL sector include launching various models for urban and intercity transportation, as well as developing customized aircraft based on client requirements [8]. - The company aims to create a commercial ecosystem around urban air transportation solutions, including an air taxi booking platform and takeoff/landing facilities [8][9].

每经记者｜孔泽思 每经编辑｜杨夏 近两年，eVTOL（电动垂直起降飞行器）应用加速，在全世界范围内引起了研发、制造、应用热潮，成为国际航空科技创新的新赛道，其应用场景也逐渐 拓展至物流、农业、消防、应急、基建等多个领域，载人运营也不再遥不可及。 齐飞航空科技（苏州）有限责任公司（以下简称"齐飞航空"）也是入局者之一。2025年5月，该公司旗下首款全尺寸5座载人eVTOL新产品W280在苏州下 线，最大起飞重量2.8吨，最大时速280千米，最大航程280千米。同时，该公司发布了全国首条低空商业载人试验航线"苏州中心—苏州北站—阳澄湖景 区"的闭环飞行场景，计划2026年开展示范运营。 5月23日至25日，第九届世界无人机大会（以下简称"无人机大会"）在深圳举行。齐飞航空副总裁彭立武在展会现场接受了《每日经济新闻》记者专访。他 表示，目前eVTOL制造技术领域已经不存在瓶颈，影响其发展的短板在于动力系统，未来五年内，供能问题有望通过装载固态电池来解决。 4 20 el the sta t a dealer and and on a F 1970 - 1997 t 2017 C PRODUCTION INDERS ...

Investment Rating - The report maintains an "Outperform" rating for the low-altitude economy industry as of May 25, 2025 [1]. Core Insights - The low-altitude economy sector has received significant attention from the national government, with policies aimed at fostering development and financial integration in technology sectors, particularly focusing on low-altitude economy projects [6][20]. - The industry has seen a decline in performance, with the Wande Low Altitude Economy Index dropping by 2.12%, underperforming compared to major indices such as the Shanghai Composite and CSI 300 [6][14]. - Key events include the World Drone Conference and UASE Drone Exhibition, showcasing advancements in low-altitude technologies and applications across various sectors [6][26]. Summary by Sections Market Review - From May 12 to May 25, 2025, the low-altitude economy sector underperformed the market, with significant declines in relevant indices compared to the Shanghai Composite and CSI 300 [6][14]. Policy Dynamics - The Ministry of Industry and Information Technology emphasized the importance of the low-altitude economy, announcing initiatives to deepen financial integration and support for high-quality project development [20]. - Local governments, such as Sichuan and Tianjin, have introduced policies to support low-altitude economic development, including funding for infrastructure and technology advancements [21][22]. Industry Dynamics - The Civil Aviation Administration of China reported a 15.4% year-on-year increase in drone flight hours, indicating growth in the sector [23][24]. - The establishment of the International Low Altitude Economy Cooperation Alliance aims to enhance global collaboration and resource integration within the low-altitude economy [38]. Investment Recommendations - The report suggests focusing on four main lines of investment: components, complete machines, infrastructure support, and air traffic management operations, highlighting specific companies within these categories [8].