21世纪经济报道记者 孙燕 8月25日晚间，万丰奥威（002085.SZ）披露了2025年半年度报告。 2025年上半年，万丰奥威实现营业收入74.94亿元，同比微增1.66%；实现归属于上市公司股东的净利润 5.01亿元，同比增长25.74%。 万丰奥威以生产汽车铝合金轮毂起家，目前轻量化铝合金和镁合金产品年产能分别达4200多万套和1800 多万套，是全球最大的轻量化铝合金轮毂和镁合金零部件供应商之一。 在活塞式固定翼飞机、混合动力飞机之外，万丰飞机也在开发纯电动通航固定翼飞机。该公司首款电动 固定翼飞机eDA40为针对培训市场打造的核心产品，能够有效降低航校培训的运营成本，目前正处于适 航审定阶段。 该公司通航飞机的销售模式主要包括直销和经销，客户或代理商预付一定比例定金后安排生产，飞机验 收交付后支付剩余价款。 除了汽车金属部件轻量化业务，万丰奥威的主营业务还包括通航飞机创新制造业务。趁低空经济东风， 万丰奥威的股价在2024年大涨，2024年底市值较年初增长约280%。 2025年上半年，万丰奥威汽车金属部件轻量化业务实现营业收入60.56亿元，同比减少 0.54%；而通航 飞机创新制造业务实现营业 ...

Group 1: Magnesium Alloy Components - The price of magnesium has fallen below that of aluminum, with decreasing price volatility, making magnesium alloy components increasingly attractive for lightweight applications [1] - The company is a global leader in deep processing of lightweight magnesium alloy materials, with strong competitive advantages in product simulation design, mold design, and die-casting [1] - The product portfolio includes key automotive components such as powertrains, front-end carriers, dashboard brackets, and door inner panels, with a focus on commercializing advanced technologies from overseas [1] Group 2: Raw Material Price Management - The company employs a price linkage settlement mechanism to enhance the proportion of customers under price linkage, optimizing the pricing mechanism to mitigate settlement delays [2] - It utilizes financial tools like hedging to lock in raw material prices, thereby reducing operational risks [2] - Strengthening centralized procurement management and optimizing supplier management systems are key strategies to lower operational costs and enhance product profitability [2] Group 3: Aviation and Low-altitude Economy - The company owns all intellectual property rights for 18 aircraft models and is a leader in the development of fixed-wing electric aircraft and eVTOL solutions [3] - It has established a comprehensive product layout for low-altitude economy, integrating fixed-wing, drone, and vertical take-off and landing (VTOL) aircraft [3] - The company is recognized as a key player in the global general aviation manufacturing sector, contributing to the development of industry standards [3] Group 4: Electric and Hybrid Aircraft Development - The company is actively developing fixed-wing electric aircraft and has successfully tested the eDA40, the world's first electric aircraft with fast-charging capabilities [4] - The HEMEP hybrid multi-engine aircraft is the first of its kind globally, designed to operate with zero emissions and low noise [4] - The eVTOL solutions include various models for urban air mobility, intercity transport, and cargo delivery, with a focus on meeting stringent EASA standards [4] Group 5: Integration and Future Planning - Following the acquisition of Volocopter's core assets, the company aims to integrate resources and enhance operational efficiency across multiple locations [5] - The company plans to advance the commercialization of new aircraft models and establish new bases and delivery centers in response to domestic low-altitude economic opportunities [5] - A multi-scenario product matrix combining fixed-wing, VTOL, and drone technologies is being developed to support diverse transportation needs [5]

Core Viewpoint - The company is committed to advancing the TC certification process for specific eVTOL models by 2025, aiming to bring products to market quickly [1] Group 1: Product Development - The company has established a multi-scenario product travel matrix that includes "fixed-wing + vertical take-off and landing aircraft + drones" [1] - The company plans to focus on the TC certification process for the DART model, the all-electric general aviation aircraft eDA40, and certain eVTOL models in 2025 [1] Group 2: eVTOL Market Strategy - The urban air mobility solution relies on two piloted two-seat models: Volocopter 2X and VoloCity [1] - The Volocopter 2X is expected to complete TC certification between 2025 and 2026, with efforts to secure commercial orders [1] - The VoloCity model is designed to meet stricter EASA aviation standards and is currently advancing its TC certification process with EASA [1]