Group 1 - The core development of the low-altitude economy is highlighted by the collaboration between Tiancheng Control and a leading low-altitude aircraft manufacturer in the Sichuan-Chongqing region for the eVTOL seat project, marking a significant step in the company's eVTOL seat business [1] - Tiancheng Control's aviation seat products have received airworthiness certification from both the European Union Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA), showcasing the company's strong capabilities in innovation, research and development, and manufacturing [1] - The global flying car market is projected to grow from $22.06 billion in 2024 to $1.53 trillion by 2040, with a compound annual growth rate (CAGR) of 50.5% from 2024 to 2040, indicating a booming market for eVTOLs [2] Group 2 - Tiancheng Control has established strategic partnerships with various companies, including a collaboration with Fengfei Aviation Technology to develop eVTOL components and materials, enhancing its position in the eVTOL supply chain [3] - The company has secured multiple important orders in the passenger car seat market, with production expected to start in 2025, indicating a strong order backlog that supports sustained revenue growth [4] - In Q1 2025, Tiancheng Control reported revenue of 539 million yuan, a year-on-year increase of 46.74%, and a net profit of 20.92 million yuan, reflecting a significant growth trajectory and healthy cash flow [5]

广汽高域抢先布局适航证申领，并着重规划Robo AirTaxi服务，未来将与如祺出行等生态伙伴合作，让 用户通过App"一键叫飞"，实现"RoboTaxi + Robo AirTaxi"双模式出行。 广汽高域计划2025年率先在广州推出示范运行站点，并计划到2027年将服务扩展至大湾区8座城市。此 外，还将拓展文旅观光、物流运输、应急救援等行业解决方案，打造低空出行全链路服务体系。在启动 适航认证的同时，广汽高域将于今年6月中旬在香港作最新构型的首次发布，同步落地产线和开启预 订。 广汽高域的另一款核心产品是GOVY AirJet。这是一款三座高性能复合翼飞行汽车，结合了固定翼的高 效巡航与多旋翼的垂直起降能力，最高时速可达250公里，实现200公里内的城际出行，40分钟便可穿梭 粤港澳大湾区。 为实现两款飞行汽车的高安全出行，高域飞行器搭载"双目视觉+激光雷达+红外相机"的感知系统，结 合广汽自研的端到端模型，能在百米外识别5x10厘米的微小物体，提前规避飞鸟、电线等障碍。能源方 面，采用广汽高密度液态锂离子电池，支持30分钟快充，未来还将应用能量密度更高的全固态电池。 北京商报讯（记者 关子辰 牛清妍）5 ...

李淑韩介绍，本次参展的GOVY AirCar陆空解耦分体式构型飞行汽车，兼顾地面智能出行和控制一 键式"跨越"，支持垂直起降和灵活转向，旨在改善地面拥堵痛点，将城市内1小时的地面通勤压缩至15 分钟。 "我们还有一款三座高性能复合翼飞行汽车GOVY AirJet，结合了固定翼的高效巡航与多旋翼的垂 直起降能力，最高时速可达250公里，可实现200公里内的城际出行，40分钟便可穿梭粤港澳大湾 区。"李淑韩说。 据了解，为实现两款飞行汽车的高安全出行，高域飞行器搭载了"双目视觉+激光雷达+红外相 机"感知系统，结合广汽集团自研的端到端模型，能在百米外识别5×10厘米的微小物体，提前规避飞 鸟、电线等障碍物。在能源方面，采用广汽高密度液态锂离子电池，支持30分钟快充。"未来，还将应 用能量密度更高的全固态电池，彻底消除市场对飞行汽车的发展顾虑，实现全民皆可低空出行的美好目 标。"李淑韩说。 原标题：第三届民航科教创新成果展速写 "太炫了，以前只在科幻大片中看到的飞行汽车真的来到了身边。"5月26日，在第三届民航科教创 新成果展上，有观众惊呼。 "这款飞行汽车分为两部分，下面是无人驾驶的汽车，上面是飞行器，遇到堵车时 ...

Core Viewpoint - The flying car industry is gaining momentum due to advancements in aviation, new energy vehicles, 5G, and artificial intelligence, with significant potential for future urban transportation solutions [6][11]. Industry Development - The launch of the Hainan flying car application demonstration island project marks a significant step in the commercialization of flying cars, with expectations for the market to reach 500 billion yuan by 2030 [4][8]. - The flying car market is projected to exceed 1 trillion yuan by 2030, with over 100 companies expected to emerge in the sector [11]. Technological Advancements - Continuous breakthroughs in technology, particularly in electric vertical takeoff and landing (eVTOL) aircraft, are essential for the industry's growth, with a focus on electric motors, batteries, and control systems [7][8]. - The power density of flying car motors is required to be twice that of traditional electric vehicle motors, presenting significant technical challenges [7]. Market Opportunities - The flying car market is characterized by a growing interest from consumers and investors, with companies like Xiaopeng and Jiangtun making significant strides in product development and testing [9][10]. - The collaboration between companies like Sichuan Wofei Chang Kong Technology and Sichuan Airlines marks a pivotal moment for integrating eVTOL into urban transportation networks [12][13]. Regulatory Framework - The regulatory landscape for flying cars is evolving, with a need for clear guidelines that address both automotive and aviation standards [16][17]. - Safety and reliability are paramount, with flying cars needing to meet aviation-grade standards to ensure safe operation in various environments [16][17].

2025 年 05 月 25 日 投资评级：看好（维持） 行业走势图 电力设备 电力设备 数据来源：聚源 -24% -12% 0% 12% 24% 36% 2024-05 2024-09 2025-01 电力设备 沪深300 相关研究报告 《欧洲电车趋势已起——从欧洲车企 2025Q1 财报看电动化趋势—行业深 度报告》-2025.5.21 《低空经济行业周报（5 月第 3 周）： 沃飞长空获 120 架 AE200 订单，需求 拉动下吉林化纤碳纤维涨价—行业周 报》-2025.5.18 《新质生产力为矛，周期成长为盾— 电新行业 2025 年中期投资策略》 -2025.5.15 低空经济行业周报（5 月第 4 周）：发改委强调有序 拓展低空应用场景，广汽飞行汽车启动适航认证 ——行业周报 殷晟路（分析师） yinshenglu@kysec.cn 证书编号：S0790522080001 发改委强调分类有序拓展低空应用场景，广汽 GOVY AirCar 启动适航认证 政策端进一步规范、推动低空行业发展：中央层面，5 月 20 日，国家发改委强 调分类有序拓展低空经济应用场景，提出"先载货、后载人""先远郊、后城 ...

恒瑞医药香港IPO公开发售部分获约455倍认购。恒瑞医药昨日暗盘高开，收盘涨32.24%，报58.25港 元，成交额7.51亿港元。 【大势展望】 纳斯达克中国金龙指数跌1.18% 隔夜美股道琼斯工业平均指数比前一交易日下跌1.35点，收于41859.09点，跌幅接近于零；标准普尔500 种股票指数下跌2.60点，收于5842.01点，跌幅为0.04%；纳斯达克综合指数上涨53.09点，收于18925.73 点，涨幅为0.28%。大型科技股多数上涨，特斯拉涨近2%，谷歌涨超1%，微软、英伟达、亚马逊、 Meta涨幅不足1%。 【今日头条】 恒瑞医药(01276)以上限定价 公开发售获455倍认购 智通财经APP讯，恒瑞医药(01276)公布配发结果，公司全球发售约2.245亿股股份，香港公开发售占 21.50%，国际发售占78.50%。每股发售价为44.050港元，全球发售净筹约97.473亿港元。每手200股， 预期H股将于香港时间2025年5月23日(星期五)上午九时正开始在联交所买卖。 热门中概股多数收跌，纳斯达克中国金龙指数跌1.18%。小鹏汽车跌超7%，世纪互联跌超6%。恒生指 数ADR下跌，按比例 ...

Core Viewpoint - GAC Group has initiated airworthiness certification for its multi-rotor flying car, GOVY AirCar, which aims to address urban traffic congestion for short-distance travel within 20 km [1] Group 1: Product Development - GAC Group has incubated the flying car brand GOVY, launching two models: GOVY AirCar and GOVY AirJet [1] - GOVY AirCar is designed for short-distance travel needs within 20 km, while GOVY AirJet targets medium-distance travel up to 200 km, enhancing intercity transportation efficiency [1] Group 2: Market Demand - The introduction of GOVY AirCar addresses the demand for short-distance travel solutions, particularly in urban areas facing traffic congestion [1] - GOVY AirJet aims to improve rapid mobility between urban centers and transportation hubs, catering to the growing need for efficient intercity travel [1]

Core Insights - The 2025 Shanghai Auto Show showcased a variety of flying cars, marking a significant shift in the automotive industry towards vertical takeoff and landing (eVTOL) vehicles [2][3] - Companies such as GAC, Xpeng, Chery, and others are entering the flying car market, indicating a growing interest and investment in this new transportation sector [2][3] - The future of transportation is expected to evolve into a three-dimensional model, integrating land, water, and air travel [2][6] Company Developments - Xpeng's flying car, the "Land Carrier," is in the critical phase of commercialization, with pre-sales expected to start in Q3 2023 and first deliveries anticipated in 2026 [3] - Chery has developed a modular flying car that can transform between flying and driving modes, having already completed its maiden flight [3][4] - GAC's flying car brand, GOVY, introduced the GOVY AirCar, which features L4 autonomous driving technology and is designed for versatile applications [4] Industry Trends - The flying car sector is seen as a key component of the emerging low-altitude economy, with applications in intercity travel, medical rescue, and logistics [5][10] - The integration of automotive and aviation technologies is leading to a shared supply chain, with a commonality rate of 60%-70% between electric vehicles and flying cars [7][8] - The development of solid-state batteries is a priority for many companies, with several planning to launch these technologies between 2026 and 2027 [7][8] Market Outlook - Morgan Stanley predicts that the global flying car market could reach $9 trillion by 2050, with China expected to account for over 20% of this market [10] - The Chinese government is actively promoting the low-altitude economy, with various provinces including low-altitude initiatives in their development plans [10][11] - The transition from traditional automotive manufacturing to becoming comprehensive mobility solution providers is underway, as companies adapt to the evolving landscape of transportation [11][12]

转自：北京日报客户端 在不久前开幕的上海车展上，广汽集团携旗下广汽昊铂、广汽传祺、广汽埃安、广汽领程等整车品牌重 磅参展，全球首发四款新车，同时带来广汽星灵AI全景图，聚焦"天、人、家、车"四大场景，构建立体 出行新格局，让出行场景成为家庭生活的延伸，让汽车成为"智能移动之家"。 广汽集团 在飞行汽车领域，广汽进入"天"的空间，构建立体出行新格局。广汽孵化了飞行汽车品牌高域科技 GOVY，实现了"汽车AI+航空安全"的跨界融合。目前，多旋翼GOVY AirCar已经启动适航认证，计划 年内启动预订，开启低空出行的新时代。 在机器人领域，广汽缓解"人"的压力，让机器人成为生活的伙伴。广汽以"自研核心硬件+构建产业生 态"双轮驱动，已发布第三代具身智能人形机器人GoMate，实现了AI大模型和辅助驾驶算法的无缝融 合。今年，广汽将推动全球首个人形机器人应用示范区在广州落地。 在智能车居方面，广汽拓展"家"的场景，让出行场景成为家庭生活的延伸。广汽研发的GoLife"绿色智 能车居"一体式解决方案，可以实现汽车和智能家居的双向联通，打造智能车居生活，可支持超1000个 家电品牌与超4000种设备互联。 在智能汽车领 ...

"全球七成无人机来自广东。"苏庆鹏表示，"中国的无人机在全世界已经处于前列，我们希望通过电动 垂直起降技术的积累来实现换道超机。" 有关数据显示，广东在消费级无人机领域已占据全国95%、全球70%的市场份额，工业级无人机更是占 据全国54%、全球40%的市场份额。这一惊人的数据背后，折射出广东在低空经济领域的绝对优势。 2024年全国两会期间，"低空经济"首次被写入《政府工作报告》。2025年《政府工作报告》将"低空经 济"纳入新质生产力培育范畴，明确提出推动低空经济等新兴产业安全健康发展。近两年来，广东省重 磅布局低空经济，《广东省推动低空经济高质量发展行动方案（2024—2026年）》中提出，到2026年， 低空经济规模超过3000亿元，全省通用飞机飞行达到15万小时，在城市空中交通、低空物流、全空间无 人体系等试点示范取得积极进展。 "广汽高域飞行汽车已开启适航审定，预计明年年底能够取得适航证。"在2025上海车展上，广汽高域飞 行汽车创始人兼CEO苏庆鹏对《中国经营报》记者表示。 车展当天，本报记者在广汽高域展台看到，几位海外电视台的记者正在围观一台GOVY AirCar，一位来 自日本的记者登上座舱 ...