Core Viewpoint - The low-altitude economy is gaining traction, with advancements in eVTOL technology and supportive government policies indicating a promising market outlook for the aviation industry [1] Industry Developments - The A-share market experienced fluctuations, with the Guozheng General Aviation Industry Index showing a slight decline of 0.18% before recovering in the afternoon, suggesting signs of stabilization [1] - The introduction of the沃飞 eVTOL, which can carry 5 passengers with a maximum range of 200 kilometers and is available for booking via an app, highlights the commercial viability of air taxi services, priced at 2-3 times that of high-end taxis [1] - Guangdong Province has announced policies to promote high-quality development in commercial aerospace from 2025 to 2028, encouraging the procurement of domestic satellite data and products across various industries [1] Market Opportunities - The low-altitude industry chain encompasses various segments, including infrastructure construction, aircraft manufacturing, operational services, and flight assurance, indicating a broad range of investment opportunities [1] - The E Fund General Aviation ETF (159255) is positioned to capture significant growth in the industry by bundling leading companies across the entire value chain [1]

有券商表示，低空经济是写入政府工作报告的战略新兴产业，是我国交通网规划中的重要组成部分，各 级政府均出台大量支持性政策，为低空经济保驾护航。目前，其市场空间正加速打开。 受行情提振，国证通用航空产业指数亦低开高走，有望三连阳，截至11:05涨幅约1.7%，成份股中，晨 曦航空、利君股份、爱乐达、睿创微纳等领涨。 每日经济新闻 Wind数据显示，跟踪该指数的通用航空ETF易方达（159255），自本周一上市以来持续活跃，开盘两小 时成交额近7000万元，在同类产品中领先。 资料显示，国证通用航空产业指数由业务涉及航材及基础设施、飞行器制造、运营服务及场景应用等通 用航空产业相关领域的股票组成，指数成份股一共50只，覆盖了低空经济、军工装备的热门公司。 8月6日早盘，三大指数纷纷低开高走，盘中全线翻红，低空经济、通用航空等方向走强。 通用航空ETF易方达（159255）一键打包全产业链龙头，可助力投资者捕捉低空经济投资机会。 ...

国证通用航空产业指数走势表现，截至8月1日 当前新质生产力相关产业已成为最引人注目的成长赛道，在众多新质生产力产业中，低空经济是少有的由我国引领全球技术和标准的未来产业，我国具有明 显的先发优势，更有着十分广阔的应用空间待开发。 今日A股市场午后拉升，低空经济概念走强，国证通用航空产业指数低开高走，盘中一度大涨超过3%，成分股中，长城军工、建设工业、航天电子等个股 强势封板。 从历史表现看，自基日以来，国证通用航空指数收益率达到220%，尤其是在2024年后，当低空经济被定性为战略新兴产业，进入高速发展期，该指数的弹 性变得尤为突出。 从投资逻辑来看，低空经济是写入政府工作报告的战略新兴产业，是我国交通网规划中的重要组成部分，各级政府均出台大量支持性政策，为低空经济保驾 护航。目前，其市场空间正加速打开，到2035年我国无人机低空市场空间有望超3.1万亿元，有人eVTOL也将有超5000亿空间。 点评：通用航空ETF易方达（159255）跟踪的国证通用航空指数，聚焦航材及基础设施、飞行器制造、运营服务及场景应用等领域的上市公司，对低空产业 链有较好的表征效果。从成分股分布看，均衡覆盖零部件、整机制造、飞行保障 ...

Core Viewpoint - The A-share market experienced a rebound with significant growth in military-related sectors, particularly in general aviation, driven by supportive government policies and market potential in low-altitude economy and commercial aerospace [1][2]. Group 1: Market Performance - The three major indices in the A-share market opened low but rose significantly in the afternoon, with military-related concepts such as military information technology, aircraft carriers, and commercial aerospace witnessing collective surges [1]. - The National General Aviation Industry Index saw a rise of over 3% during trading, with constituent stocks like Aileda, Lijun Co., and Aerospace Electronics hitting the daily limit [1]. Group 2: Investment Opportunities - The newly listed General Aviation ETF (159255) achieved a strong debut with a half-day trading volume of 230 million yuan, leading among similar index ETFs [1]. - The National General Aviation Industry Index comprises 50 stocks related to various sectors of the general aviation industry, including aircraft manufacturing and operational services, indicating a broad investment opportunity [1]. Group 3: Industry Outlook - The low-altitude economy is recognized as a strategic emerging industry in government work reports, with substantial support from various levels of government, suggesting a favorable environment for growth [1]. - The market potential for the drone low-altitude market is projected to exceed 3.1 trillion yuan by 2035, while the manned eVTOL market is expected to surpass 500 billion yuan [1]. - CITIC Securities indicates that the commercial aerospace and low-altitude economy sectors may accelerate in development due to events like commercial rocket launches, recommending investors to pay attention to related opportunities [1].

易方达基金管理公司资产管理总规模今年处于行业第一，产品线齐全；指数投资经验超20年。 关联产品： 华福证券指出，下半年民航局已经成立通用航空和低空经济工作领导小组，后续产业政策值得期待；从地方政府进展看，相较于去年偏规划文件出台，今年 各地方更多在做航线规划、空域划分、低空飞行管理办法等"实事"。板块正在酝酿多个"量变"，静待一个"质变"。 消息面上，深圳市发展改革委对外发布《深圳市低空基础设施高质量建设方案（2024—2026年）》，着力构建"体系完备、层次清晰、标准统一、智能先 进、跨域融合"的低空基础设施体系，全力打造"全球低空经济第一城"。中国民航局预测，2035年，我国低空经济市场规模将有望达到3.5万亿元。 ...

顶层政策大力支持： 低空经济是万亿新赛道： 在各级政策的支持下，当前我国低空试点城市已初具规模，相关经验储备已较为丰富，即将开启大范围 推广的高速建设阶段。近日深圳等地高频发布新的低空建设规划，并不断有龙头厂商签下大单，均验证 了行业的高速发展阶段已经来到。 低空经济已在无人巡检、农业耕种等领域有成熟应用，显著节约人力成本并大幅提高经济效益，市场空 间正加速打开，到2035年我国无人机低空市场空间有望超3.1万亿元，有人eVTOL也将有超5000亿空 间。 用ETF布局万亿赛道： 我国是全球低空经济产业的引领者： 低空产业链涉及基础设施建设、飞行器制造、运营服务、飞行保障等细分方向，相关环节众多，通用航 空ETF易方达（159255）一键打包全产业链龙头，是捕捉行业高速发展时期重要贝塔的优质工具。 我国率先为低空飞行器evTOL颁发全球首张的四类合格证，意味着我国是全球第一个有evTOL飞行器具 备商业化运营能力的国家。 行业正来到加速商业化建设的关键节点： 低空经济是写入政府工作报告的战略新兴产业，是我国交通网规划中的重要组成部分，各级政府均出台 大量支持性政策，为低空经济保驾护航。 ...

Group 1 - The core viewpoint is that the low-altitude economy is a significant growth sector in the new productivity landscape, with China leading globally in technology and standards, and the market potential is vast, projected to exceed 30 trillion yuan by 2035 for the unmanned low-altitude industry alone [1][8] - The low-altitude economy encompasses various applications below 3,000 meters, including both manned and unmanned scenarios, and has gained attention since its inclusion in national transportation planning in 2021, highlighting its strategic importance [2][11] - The government has set clear policies and strategic goals for the low-altitude economy, with a focus on commercial applications in urban air transport, logistics, and emergency rescue, marking the beginning of a rapid development phase [2][11] Group 2 - The low-altitude economy addresses challenges such as large usage areas and dispersed targets, providing new experiences in agriculture, power line inspection, emergency rescue, tourism, and logistics, thus opening up a trillion-yuan market [5][6] - The economic viability of low-altitude applications is evident, with drone usage in agriculture increasing daily operational efficiency by 60 times and reducing labor costs by 80%, leading to significant improvements in crop yield and pesticide utilization [6][7] - By 2035, the scale of drone applications is expected to reach 3.1 trillion yuan, indicating a transition to a trillion-yuan market starting in 2029 [8] Group 3 - China is at the forefront of the global low-altitude economy, having issued the world's first four certifications necessary for the commercial operation of eVTOL aircraft, which are already being utilized in tourism [10] - The establishment of pilot cities for eVTOL in 2024 marks a significant step towards nationwide adoption, with plans for infrastructure development and regulatory frameworks to support the low-altitude industry [11][12] - The low-altitude economy requires a comprehensive industrial chain, including infrastructure, aircraft manufacturing, operational services, and flight safety, to ensure its successful development [12] Group 4 - The National General Aviation Industry Index focuses on various sectors of the low-altitude economy, providing a representative measure of the industry, with a balanced coverage of components, manufacturing, and operational services [14] - Historical performance of the National General Aviation Index shows a return of 215.51%, significantly outperforming the Shanghai Composite Index, especially as the low-altitude economy enters a high-growth phase [17] - The E Fund General Aviation ETF (159255) is identified as a suitable tool for investors looking to capitalize on the low-altitude economy during this critical window of opportunity [19]