Core Viewpoint - The low-altitude economy is recognized as a new productive force, with significant development plans outlined for the "14th Five-Year Plan" period, which is expected to catalyze further industrial growth [1] Group 1: Company Overview - WanFeng Aviation is positioned as a leading enterprise in the global general aviation and low-altitude economy sectors, focusing on an integrated industrial cluster centered around aircraft manufacturing and operational services [1] - The company has established a comprehensive product matrix that includes general fixed-wing aircraft, eVTOL, and drones, making it the only private aviation company globally to achieve full industrial chain development and international layout [1] Group 2: Strategic Developments - In March 2025, WanFeng Aviation completed a strategic restructuring with German eVTOL pioneer Volocopter GmbH, accelerating the development of green intelligent aviation technologies [1] - The company is expanding its focus on urban air traffic solutions, intercity air traffic solutions, and specific environment connectivity, among other applications [1] Group 3: Market Position and Growth - WanFeng Aviation is enhancing its aircraft model series to cater to domestic private flying, short-distance transport, and special purposes, while increasing R&D efforts for electric aircraft, eVTOL, and drones [2] - The company is committed to building an urban air traffic system that integrates aircraft manufacturing with intelligent systems and takeoff/landing facilities, seizing new opportunities in the low-altitude economy [2] Group 4: Financial Performance and R&D Investment - In the first half of 2025, WanFeng Aviation's R&D expenses reached 235 million yuan, a year-on-year increase of 14.56%, reflecting a heightened focus on technological innovation and product upgrades [2] - The company is experiencing stable growth driven by a "dual-engine" strategy, with a robust order book and continuous optimization of sales operations [3] Group 5: Industry Outlook - The low-altitude economy is entering a substantial development phase, with over 30 provinces and cities in China incorporating it into government work reports and formulating specific plans [3] - The market size is projected to reach 3.3 to 5 trillion yuan by 2035, indicating rapid growth compared to other industries like new energy vehicles and semiconductors [3]

Group 1 - The 2025 World Intelligent Industry Expo was held in Chongqing, showcasing the VoloCity eVTOL aircraft from WanFeng Aowei, marking its first appearance in China [2] - VoloCity is a two-seat, 18-rotor eVTOL aircraft with a maximum speed of 110 km/h, having received both manned and unmanned flight permits [2] - VoloCity is the world's first electric air taxi to receive EASA certification, excelling in safety, noise reduction, intelligence, and energy sustainability [2] Group 2 - WanFeng Aowei aims to transform human mobility by creating a comprehensive general aviation and low-altitude economy industry cluster, including fixed-wing aircraft, eVTOLs, and drones [3] - The company has established a global presence with seven aircraft manufacturing plants, three flight training bases, and 192 service centers across 90 countries [3] - WanFeng Aowei plays a significant role in industry standards as a member of various aviation committees and associations [3] Group 3 - The company is committed to building a smart, safe, efficient, and green urban air traffic ecosystem, leveraging technological innovation [4] - Volocopter, founded in 2007, is a pioneer in eVTOL development and the first to obtain a manned flight license from EASA [4] - Volocopter's product line includes VoloXpro, VoloCity, VoloRegion, and VoloDrone, catering to diverse scenarios such as passenger transport and air cargo [4] Group 4 - The acquisition of Volocopter's assets and intellectual property was completed in March, enhancing WanFeng Aowei's strategic positioning in low-altitude transportation [5] - The debut of VoloCity signifies a critical step in the company's strategic layout in the low-altitude traffic sector [5] - WanFeng Aowei aims to integrate Volocopter's technology with its own manufacturing and operational expertise to promote the application of eVTOLs in various scenarios [5]