Core Insights - The Chinese government has increasingly prioritized the development of the low-altitude economy since 2021, with policies aimed at fostering its growth, leading to a market size exceeding 580 billion yuan in 2024, reflecting double-digit growth [1] - The Civil Aviation Administration of China predicts that the low-altitude economy market will reach 1.5 trillion yuan by 2025 and potentially grow to 3.5 trillion yuan by 2035 [2] Industry Overview - The low-altitude economy is gaining traction in various sectors such as logistics, agricultural spraying, tourism, and emergency rescue, driven by policy support, technological advancements, and market demand [3] - Despite the growth, significant gaps remain in the low-altitude sector, particularly in tourism, where only 0.1% of A-level scenic spots have adopted low-altitude sightseeing [3] - The limited number of general aviation airports, with only 449 registered by the end of 2023, poses challenges for the operation and range of low-altitude aircraft [3] Company Insights - Bee Low Altitude, founded 13 months ago, focuses on providing comprehensive service solutions in the low-altitude sector, initially targeting tourism and sightseeing applications [10] - The company has secured exclusive operating rights in over 110 top-tier scenic spots across 23 provinces, generating over 8 million yuan in revenue in the first quarter of 2024 [10] - Bee Low Altitude operates as a platform connecting upstream manufacturers of low-altitude products with downstream application scenarios, emphasizing the importance of data from each flight for the industry [10][14] Business Model - The company aims to create a "scene-consumption-supply" business loop, expanding into four core application areas beyond tourism [10] - Bee Low Altitude provides various aircraft types, including manned and unmanned options, and focuses on enhancing operational efficiency in sectors like power and water inspection, logistics, and emergency rescue [11][14] - The revenue model primarily relies on platform commissions, with plans to share flight data with aircraft manufacturers [14]