Investment Rating - The report maintains a "Recommendation" rating for the company, indicating a positive outlook for its performance in the low-altitude economy sector [1]. Core Insights - The company is well-positioned to benefit from the low-altitude economic wave, leveraging its planning and consulting services to develop actionable low-altitude economic development plans [2]. - The establishment of SILAS, a digital platform for low-altitude services, is highlighted as a significant advantage, with the project amount exceeding 500 million [3]. - The company is actively expanding its market reach through innovative infrastructure projects and collaborations, enhancing its service capabilities in the low-altitude new infrastructure sector [3]. Financial Performance Summary - The company reported a total revenue of 670 million for the first three quarters, a year-on-year decrease of 14%, with a net profit attributable to shareholders of 43 million, down 27% [8]. - The revenue for Q3 was 260 million, reflecting a 19% decline year-on-year, while the net profit for the same quarter was 52 million, a 24% decrease [8]. - The financial forecasts for 2025-2027 have been adjusted, with expected net profits of 117 million, 155 million, and 212 million respectively, indicating growth rates of 10.6%, 32.2%, and 36.9% [4][9]. Market Position and Potential - The company has successfully conducted low-altitude economic planning projects in over 30 key cities, including Shenzhen and Abu Dhabi, showcasing its capability and market presence [2]. - The report emphasizes the potential for the company to establish itself as a benchmark in the low-altitude economy sector, with opportunities for expansion both domestically and internationally [3].