作者 | 张子怡 编辑 | 袁斯来 无人机行业经历一段波澜壮阔的增长后，或将进入调整期。甚至有人认为，"大航海时代的海禁"即将落 下。 悲观起源于无人机行业的新规颁布。2026年1月1日起，中国正式施行新修订的《中华人民共和国治安管 理处罚法》，将"黑飞"纳入管理，除了罚款，情节严重者会面临治安处罚甚至刑事责任。 其实，2023年国务院、中央军委就公布《无人驾驶航空器飞行管理暂行条例》，当时已经规定需要实名 制，并提前报备等。新规其实并非大修，而是一些补充。 同时，《民用无人驾驶航空器实名登记和激活要求》（GB 46761—2025）和《民用无人驾驶航空器系 统运行识别规范》（GB 46750—2025）两项标准也将于2026年5月1日起正式实施，所有民用无人机需 完成实名登记，在激活前和取消激活后均不能具备飞行能力。 但低空涵盖1000米以下区域，仍然存在空域管理模糊的难题。所以，伴随"十五五规划"，更细化的管理 政策相继出台，要实现在低空范围分类分级管理。无人机新规或许也是这种思路的产物。 飞行前，飞手在核心管制空域飞行需提前报备，起飞后，250克及以上无人机海必须进行安全管理与位 置报送。 值得注意的是 ...

Core Viewpoint - The company, Arashi Vision Inc., has gained significant attention due to its unique employee welfare programs and the recent launch of its first panoramic drone, the Antigravity A1, which has positively impacted its stock price and market perception [3][5][9]. Group 1: Employee Welfare and Company Culture - The company has implemented extravagant employee welfare programs, including cash rewards for weight loss challenges, which have garnered widespread admiration on social media [6][8]. - Since 2022, the company has distributed significant rewards, including 27 cars worth over 9 million yuan and various luxury items, to foster a strong sense of belonging and a daring corporate culture among employees [8][9]. - The "Million Weight Loss Challenge" has been a notable initiative, with participants collectively losing 1,900 pounds and receiving 1 million yuan in cash rewards since its inception [6][8]. Group 2: Product Launch and Market Strategy - On August 14, the company launched the Antigravity A1, the world's first panoramic drone, which features dual panoramic lenses and 8K video capabilities, marking a strategic entry into the drone market [3][11]. - The company aims to expand its product line to address the slowing growth in its core business, as evidenced by a decline in net profit growth from 103.7% to 2.5% year-over-year [9][11]. - The anticipated pricing for the Antigravity A1 is between 4,999 and 6,999 yuan, positioning it competitively against DJI's Air series [11][13]. Group 3: Financial Performance and Market Context - The company's stock price surged by 20% to 224.42 yuan per share following the announcement of the new drone, reflecting positive market sentiment and a market capitalization of approximately 90 billion yuan [3][5]. - The global market for panoramic cameras is projected to reach 5.03 billion yuan, while the total market for handheld smart imaging devices is estimated at 36.47 billion yuan, indicating potential growth opportunities for the company [9].