Core Insights - The low-altitude economy sector underperformed the broader market during the period from August 18 to August 31, with the Wind Low Altitude Economy Index rising by 3.12%, lagging behind the Shanghai Composite Index by 1.24 percentage points, the CSI 300 Index by 3.88 percentage points, and the ChiNext Index by 10.92 percentage points [1][2] - The National Development and Reform Commission's recent policy emphasizes the cultivation of new economic drivers, including the low-altitude economy, to foster new consumption scenarios [2] Market Performance - The Wind Low Altitude Economy Index increased by 3.12%, while the National General Aviation Index rose by 6.85%, outperforming the Shanghai Composite Index by 2.49 percentage points but still lagging behind the CSI 300 Index and ChiNext Index [1][2] Policy Developments - The Central Committee of the Communist Party of China and the State Council released guidelines to promote high-quality urban development, highlighting the importance of the low-altitude economy [2] - Various provinces, including Anhui and Guangdong, are implementing measures to support the development of the low-altitude economy, focusing on infrastructure and regulatory frameworks [3] Investment Projects - Hefei has launched a special bond project for low-altitude economic infrastructure with an investment scale of 18.6 billion yuan [3] - EHang has signed an investment cooperation agreement with the Hefei government to establish a headquarters for its VT35 series eVTOL products, with a total investment of approximately 1 billion yuan [3] Orders and Collaborations - Volant Aerospace and Agricultural Bank of China Leasing signed a procurement order for 120 aircraft, totaling 3 billion yuan [4] - FeiHang Technology and QiFei signed a procurement agreement for 45 eVTOL aircraft, marking a significant step in urban logistics [5] Technological Advancements - The GOVY AirJet received a special flight permit, showcasing its compliance and safety for urban operations [5] - The RX1E series electric aircraft has received airworthiness certification, indicating a move towards mass production [5] Financing Activities - Dream Sky Technology completed over 100 million yuan in Pre-A++ and strategic financing rounds to support product certification and team expansion [6] - Alef Aeronautics has begun test operations for its electric flying car, Model A, after receiving special airworthiness certification from the FAA [6] Investment Recommendations - The low-altitude economy is gaining traction with various provinces implementing supportive policies, and leading eVTOL manufacturers are experiencing a surge in orders [7] - Key investment targets include power/energy systems, complete aircraft manufacturers, air traffic management systems, and maintenance operations [7]