据了解，中信海直是中国规模最大的通用航空企业，也是目前国内唯一的通用航空主板上市公司； 中信金租作为中信银行的全资子公司，在船舶、飞机等主流租赁业务领域均取得显著成绩。峰飞航空科 技（昆山）有限公司相关负责人表示，中信海直、中信金租和峰飞航空的强强联合，将有力推动 eVTOL在多元化场景中的应用，助力低空经济腾飞。未来，三方将继续深化合作，探索更多创新模 式，为低空经济的发展贡献智慧和力量。 作为中国最早投入eVTOL电动垂直起降航空器赛道的科技企业之一，峰飞航空自2022年落户昆山 淀山湖镇以来发展迅速，其自主研制的eVTOL已完成首次跨海跨城飞行、首次跨长江飞行、亮相央视 春晚首次夜航，并在中东、日本完成海外飞行，为低空应用场景落地打下坚实的基础。 低空经济已成为全球竞逐的新兴产业，昆山正积极通过招引一批优质企业、开放一批应用场景、开 发一个空域管理服务平台等，全力推动低空经济率先突破，加速形成产业集聚优势。 近日，昆山峰飞航空与中信海直、中信金租在深圳签署战略合作协议，其中包括中信金租100架大 型eVTOL（电动垂直起降航空器）意向采购订单。三方将通过创新的eVTOL研发制造、成熟的航空运 营经验、灵 ...

Investment Rating - The report maintains an "Outperform" rating for the low-altitude economy industry [1]. Core Insights - The low-altitude economy sector is gaining significant attention from the national level, with policies being implemented to support the development of new energy aircraft and the promotion of drones. The sector is expected to form a trillion-level industry scale [6][20]. - The low-altitude economy index has underperformed the broader market, with a decline of 0.20% during the reporting period, lagging behind the Shanghai Composite Index by 1.96 percentage points [6][13]. - Six flying cars were showcased at the Shanghai Auto Show, highlighting advancements in urban air mobility [21]. Summary by Sections Market Review - The low-altitude economy index decreased by 0.20%, underperforming the Shanghai Composite Index by 1.96 percentage points and the CSI 300 Index by 1.18 percentage points during the period from April 14 to April 27, 2025 [6][13]. Policy Dynamics - On April 25, ten departments, including the Ministry of Transport, issued guidelines to enhance support for new energy aircraft and promote the application of drones. This includes establishing airworthiness certification systems for new energy aircraft [19][20]. - The low-altitude economy is recognized as a typical representative of new productive forces, with plans to create a trillion-level industry [20]. Industry Dynamics - The Shanghai Auto Show featured six flying cars, including the Hongqi "Tianran 1," which boasts a flight range of 200 km and a maximum speed of 150 km/h [21]. - Meituan's self-developed fourth-generation drone received the first nationwide low-altitude logistics operation certificate, enabling regular commercial operations across major cities [24]. - The first low-altitude version of "Didi" was launched in Jinan, marking a significant step in the digital platform for low-altitude economy applications [25]. Important Company Announcements - Zhonghe Technology reported a total revenue of 2.024 billion yuan in 2024, a decrease of 12.96% year-on-year, and established a subsidiary focused on low-altitude business development [50]. - Yingboer achieved a revenue of 2.430 billion yuan in 2024, reflecting a growth of 23.77% year-on-year, with significant advancements in low-altitude economic sectors [51]. - The company Lai Si Information reported a revenue of 1.610 billion yuan in 2024, a decrease of 3.94% year-on-year, focusing on low-altitude urban transportation systems [52].

Investment Rating - The report maintains an "Outperform" rating for the low-altitude economy industry as of April 27, 2025 [1]. Core Insights - The low-altitude economy sector has received significant attention from the national government, with policies aimed at promoting the development of new energy aircraft and the application of drones. The sector is expected to form a trillion-level industry scale [6][20]. - The low-altitude economy index has underperformed the broader market, with a decline of 0.20% during the reporting period, lagging behind the Shanghai Composite Index by 1.96 percentage points [6][13]. - Six flying cars were showcased at the Shanghai Auto Show, highlighting advancements in urban air mobility [21]. Summary by Sections Market Review - The low-altitude economy index decreased by 0.20%, underperforming the Shanghai Composite Index by 1.96 percentage points and the CSI 300 Index by 1.18 percentage points during the period from April 14 to April 27, 2025 [6][13]. Policy Dynamics - On April 25, ten government departments issued guidelines to enhance support for the development of new energy aircraft and promote the application of drones. This includes establishing airworthiness certification systems for new energy aircraft [19][20]. - The low-altitude economy is recognized as a typical representative of new productive forces, with plans to create a trillion-level industry [20]. Industry Dynamics - The Shanghai Auto Show featured six flying cars, including the debut of Hongqi's "Tianran 1," which boasts a range of 200 km and a top speed of 150 km/h [21]. - Meituan's self-developed fourth-generation drone received the first nationwide low-altitude logistics operation certificate, enabling regular commercial operations across major cities [24]. - The first low-altitude "Didi" platform was launched in Jinan, marking a significant step in the digitalization of the low-altitude economy [25]. Important Company Announcements - Zhonghe Technology reported a 12.96% decrease in total revenue for 2024, while also establishing a subsidiary focused on low-altitude business development [50]. - Yingboer achieved a 23.77% increase in revenue for 2024, with significant advancements in electric propulsion systems for low-altitude applications [51]. - The company Zongheng Communication reported a 22.54% increase in revenue, entering the low-altitude economy sector with a focus on intelligent air traffic management [52].