Core Insights - The domestic low-altitude economy is entering a stable phase, with a decrease in financing and attention, yet leading eVTOL manufacturers continue to announce large orders, with total disclosed order amounts exceeding 10 billion [1] - Yufeng Future has showcased its 2-ton eVTOL M1 and signed a 100-unit intention order agreement with AVIC Leasing, with a cooperation scale exceeding 1 billion [1] - The company has established strategic partnerships with state-owned platforms in Shanghai and Guangdong to create replicable low-altitude economic demonstration models [1] Company Development - Yufeng Future has three growth curves: small and medium-sized eVTOLs (industrial-grade drones), large cargo eVTOLs, and large manned eVTOLs [1] - The company has achieved stable revenue and profit growth, with expectations of 50% to 100% annual growth over the next 3 to 5 years [2] - The company has patented a "foldable rotor vertical take-off and landing fixed-wing aircraft" and has successfully commercialized it [5] Product and Technology - Yufeng Future has developed four mass-produced small and medium-sized vertical take-off and landing fixed-wing drones, widely used in various fields such as public security, emergency response, and logistics [7] - The E05A drone has a maximum flight time exceeding 7 hours and can withstand winds of up to 6 and 8 levels during takeoff and cruising, respectively [8] - The E6A medium drone has completed over 6,700 missions overseas, with a total flight time exceeding 12,000 hours and a total flight distance exceeding 1.1 million kilometers [11] Market Strategy - The company is focusing on commercializing large cargo eVTOLs, with plans to explore applications in emergency rescue, logistics, and medical assistance [19] - Yufeng Future follows a "first cargo, then passenger" strategy for eVTOL commercialization, aiming to address emergency rescue and logistics issues before advancing to urban air mobility [19] - The company has achieved significant market share and reputation in the industrial drone sector, ranking high in national emergency aviation project bids [23] Financial Performance - Yufeng Future has successfully completed over 400 million in financing, with a recent Pre-B round of over 200 million expected to be completed by September 2024 [24] - The company aims to leverage China's eVTOL innovations to achieve "accessible aerial travel for everyone" within the next 3 to 5 years [25]