今年的大疆，格外热闹。 热闹不止于新业务层出不穷，比如推出扫地机品牌ROMO、全景影像品牌Osmo 360等；其主力业务消费级无人机还迎来新玩家。 当所有人的目光都放在C端产品上时，却忽略了大疆另一核心业务——更广阔的工业级无人机解决方案。坦白说，农行业级并不性感，需要穿丛林、进高 原、跨山河。但正是这批隐匿在人群外的他们，帮助一个个农业、电力巡检、消防等领域提质增效。 事实上，中国低空经济规模增长才开始，尽管2023年已达 5000亿元，但工信部预计到2035年将破 3万亿。同时，摩根士丹利预测，到2040年，无人机运载市 场规模或超5000亿美金。一条被低估的千亿级赛道正被大疆运载拉回公众视野。 更关键的是，全球政策正开始迎来重磅利好。中国在2023 年《低空经济专项行动计划》中提出，到 2025 年低空经济规模超 1 万亿元；美国FAA（联邦航空 局）已批准部分无人机公司开展商业物流试点；欧洲EASA（欧盟航空安全局）推动无人机物流立法，预计 2025–2026 年全面落地。 需求爆发、政策松绑，这都是一个赛道爆发的必要条件。更关键的是，大疆早在消费级无人机领域积累出了综合能力，比如飞控系统、供应链、量 ...

Core Viewpoint - The company reported strong revenue and profit growth for 2024 and Q1 2025, driven by government subsidies and expanding overseas markets [1][2][3][4]. Financial Performance - In 2024, the company achieved revenue of 16.54 billion, a year-on-year increase of 6.7%, and a net profit attributable to shareholders of 810 million, up 31.7% [1][3]. - Q4 2024 revenue reached 6.32 billion, growing 27.1% year-on-year, with a net profit of 190 million, a staggering increase of 2178.0% [1][3]. - For Q1 2025, revenue was 3.86 billion, reflecting an 11.1% year-on-year growth, and net profit was 470 million, up 59.4% [1][3]. Profitability Improvement - The company's gross margin improved by 1.9 percentage points to 46.5% in 2024, attributed to supply chain optimization and strong sales of high-margin products [3]. - In Q1 2025, gross and net profit margins increased by 2.5 and 3.7 percentage points to 49.7% and 12.3%, respectively, driven by the higher proportion of new products [3][4]. Market Dynamics - The government subsidy policy significantly boosted domestic demand, with the cleaning appliance sector seeing online sales growth of 43.9% in Q4 2024 [2][4]. - The company is well-positioned in both domestic and international markets, with European revenues growing by 51.6% and 64.0% for its brands in 2024 [4]. Future Outlook - The company is expected to continue its operational improvement, with strong domestic demand and ongoing international expansion [4]. - The company has committed to distributing at least 30% of its annual distributable profits in cash from 2025 to 2027, indicating strong investment value [4].