Group 1 - The core viewpoint of the news is the strategic collaboration between Zhongke Information Technology Co., Ltd. and two educational institutions to advance low-altitude innovation and technology development in Sichuan's Tianfu New Area [1][2] - Zhongke Information has signed a framework cooperation agreement with China Civil Aviation Flight University and Beijing University of Aeronautics and Astronautics Chengdu Innovation Institute, focusing on research collaboration, student internships, and joint laboratory construction [1] - The collaboration aims to address key areas such as low-altitude intelligent traffic control models, drone airworthiness certification technology, and high-energy density batteries [1] Group 2 - Sichuan Tianfu New Area is leveraging its technological innovation and industrial clustering advantages to accelerate the construction of a low-altitude economy pilot project, focusing on drone manufacturing and related technologies [2] - The signing of the agreement signifies a comprehensive collaboration in low-altitude economic planning, core technology development, talent cultivation, and application scenario creation [2] - Zhongke Information plans to establish a low-altitude application research team led by Tianfu scholars to optimize the use of low-altitude resources and develop industry-specific low-altitude application systems [2]

Core Viewpoint - The low-altitude economy is emerging as a significant industry, projected to exceed 2 trillion yuan by 2030, driven by innovations in various sectors such as agriculture, logistics, and emergency rescue [4][22]. Group 1: National Strategy and Policy Framework - In 2023, the Central Economic Work Conference officially recognized the low-altitude economy as a strategic emerging industry, with further emphasis in the 2024 government work report [5][7]. - The implementation of the "Interim Regulations on the Flight Management of Unmanned Aerial Vehicles" in 2024 fills regulatory gaps for micro and light drones, facilitating low-altitude flight [5]. - Shenzhen has introduced the first special regulation for the low-altitude economy, aiming to become the "first city of low-altitude economy" with a target of exceeding 100 billion yuan by 2025 [6]. Group 2: Industry Chain Overview - The low-altitude economy has established a complete industry chain, including upstream materials, midstream aircraft manufacturing, and downstream application scenarios [4][10]. - Key materials such as carbon fiber and high-energy-density batteries are critical for the production of eVTOLs, with carbon fiber expected to see a demand increase of up to 1,000 tons by 2030 [11][12]. Group 3: Market Projections and Trends - The eVTOL market is projected to reach 3.2 billion yuan by 2024 and exceed 9.5 billion yuan by 2026, highlighting its rapid growth potential [13]. - The logistics sector is increasingly adopting drones, with delivery costs dropping to between 5 and 20 yuan per package, and companies like SF Express and JD.com are normalizing drone deliveries in the Greater Bay Area [14]. - The low-altitude economy is expected to experience significant growth, with projections indicating a rise from 505.95 billion yuan in 2023 to 6 trillion yuan by 2035 [22]. Group 4: Future Development and Infrastructure - From 2025 to 2030, large-scale applications of drones in logistics and agriculture are anticipated, with over 100 smart city pilots providing substantial market opportunities [20]. - The comprehensive opening of airspace is expected to create a market exceeding 1 trillion yuan for urban air mobility (UAM) [20]. - Infrastructure development is accelerating, with Shenzhen planning 600 takeoff and landing points, and other regions actively engaging in low-altitude infrastructure projects [20].

Group 1 - The 17th Shenzhen International Battery Technology Exchange and Exhibition (CIBF2025) has commenced, featuring over 3,200 exhibitors and more than 400,000 professional visitors, with an exhibition area exceeding 300,000 square meters [1][3] - The theme of this year's exhibition is "Linking the World, Empowering Green, Driving the Future," and it has been upgraded to cover the entire industry chain from materials to applications [1][3] - The exhibition includes various specialized pavilions, showcasing innovations in basic materials and end-use applications, with interactive zones for immersive experiences and precise matchmaking [3][5] Group 2 - Cutting-edge technologies such as solid-state batteries, sodium-ion batteries, and hydrogen fuel cells are being showcased by leading companies in the power battery industry, including CATL and EVE Energy [5][8] - An advanced battery technology seminar is being held concurrently, featuring discussions on topics like halide-based solid-state battery advancements and next-generation power technologies [8] - The event highlights the importance of collaboration among government, enterprises, and academic institutions to accelerate the green transformation of the battery industry [8]

"宁王"继续大赚！ 4月14日晚，宁德时代（300750）(300750.SZ)率先披露了2025年第一季度报告，公司实现营业收入847.05亿元，同 比增长6.19%；归属于母公司股东的净利润(以下简称"归母净利润")139.63亿元，同比增长32.85%。 首季盈利约140亿元，宁德时代创了历史同期新高。 宁德时代继续投入大量资金进行研发。今年第一季度，公司研发投入48.14亿元，同比增长10.92%。 2024年，宁德时代也取得了创新高的经营业绩，归母净利润达507.45亿元，首次突破500亿元大关。 宁德时代正在扩大"朋友圈"。公开信息显示，近日，宁德时代、蚂蚁集团、哈啰签署战略合作协议，将共同推动 新能源产业的智能化升级和生态体系建设。 宁德时代的财务状况较好。截至今年3月末，公司货币资金达3213.24亿元。目前，公司正在推进港股IPO上市。 备受关注的是，2024年初以来，陆股通已经连续五个季度增持宁德时代，目前持股比达12.60%。 首季净利创历史新高 宁德时代再度取得了创历史新高的经营业绩。 根据2025年第一季度报告，今年前三个月，宁德时代实现营业收入847.05亿元，同比增长6.19%； ...

沈思越 连一席 遥远 本轮春季躁动当中投资者有两大烦恼：一是港股走牛、A股震荡，两地市场的分化造成机构产品 业绩分化；二是国内宏观波动在降低，市场从三年宏观大年步入宏观小年，但不少原有应对剧烈 宏观波动的杠铃型策略很难在市场快速上涨时完成调仓。从市场分化的角度来看，本轮以新经济 为主线的春季躁动当中，互联网、硬科技、智能车和创新药当中最优质的核心资产聚集在港股， 这是港股走牛而A股仍在震荡的本质原因。约6 0%的公募资管产品不具备港股通权限，即使具备 权限，测算港股可投比例距离基金合同上限平均还有约2 6 . 5%的上升空间，业绩分化和赛马机制 在驱动配置型持仓加速从A股转向港股，加剧两地市场走势分化。从策略范式的角度来看，过去 三年是宏观大年，宏观波动和政策应对是驱动市场的主要变量，杠铃策略成为应对频繁宏观扰动 的方式；反观今年，政策方向和目标清晰，国内宏观波动在降低，市场在向宏观小年过渡，宏观 和政策的边际变化很难再成为驱动市场方向和结构的因素，产业景气驱动的思路在接棒杠铃策 略。从应对而言，端侧AI和高能量密度电池是A股相对具有独占性的产业主题，且我们预计二季 度将会迎来密集催化；A股传统核心资产出清在 ...