低空司最新统计分类政策解读及行业后市展望 20251228 摘要 2024 年低空经济业务激增，销售额与过去十年总和相当，得益于政府 基建投入和国有平台应用端设备建设，以及对低空经济认知和 GDP 数据 认定边界的明确。 低空经济新政明确了基础设施（通讯、导航等）、硬件（通航飞机、无 人机）、运维及运营四大板块的统计口径，并详细规划了服务培训和岗 位分类，与"十五五"规划和年度经济工作会议报告的发展预期相符。 国务院 6 月和 11 月发布文件，指导国央企在低空经济发展中的具体工 作，并对省市两级空管平台进行分类，为社会资本流入提供清晰指引， 规范行业发展，避免重复建设。 申报低空经济项目需对接地方政府部门，如交通厅或水利局，并逐级上 报至国家部委。专项债或国债申报项目在基建中比重显著增加，如山东 高速招标 40 亿元飞行器，湖北省申报多个专项债项目。 浙江省专项债申报中，低空类项目挤占传统基建项目份额，反映出地方 政府希望通过发展低空经济来维持专项债份额的趋势，预计未来 3-5 年 内稳步向好。 Q&A 如何解读近期发布的低空经济统计分类政策？该政策是否符合预期，对行业有 何影响？ 近期发布的低空经济统计分 ...

Group 1 - The company reported a year-on-year increase in net profit attributable to shareholders in its Q3 2025 report, with a net profit of 730 million yuan, up 29.4% year-on-year [2] - The company achieved a revenue of 11.42 billion yuan in the first three quarters of 2025, reflecting a 0.4% year-on-year growth [2] - The gross margin for Q3 2025 was 15.3%, a decrease of 0.4 percentage points year-on-year, while the net margin improved to 6.6%, an increase of 1.2 percentage points year-on-year [2] Group 2 - The "14th Five-Year Plan" includes low-altitude economy as a "strategic emerging industry cluster," aiming to foster new and future industries [3] - The plan emphasizes the development of strategic emerging industries such as new energy, new materials, aerospace, and low-altitude economy, which is expected to benefit the company's general aviation aircraft business [3] Group 3 - The company is actively integrating resources from Volocopter, with the TC certification for its manned eVTOL products expected soon [4] - The company aims to provide eVTOL solutions for both passenger and cargo transport within a range of 300 kilometers, with the Volocopter 2X and VoloCity models leading the certification process [4] - The VoloCity model is designed to meet stringent EASA standards and is currently undergoing TC certification [4]