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Low altitude economy takes off again!
On May 17, the low altitude economic sector broke out again, with multiple stocks trading, Traffic Control Technology 、 Shenglan Shares 、 Xinchen Technology 20cm trading limit, Andavil Up more than 17%, Xinyan Shares (Rights protection) Up more than 11%, Zongshen Power 、 Changyuan East Valley 、 Sichuan University Zhisheng And other trading limits.
Since this year, the concept of low altitude economy has been continuously active, Wanfeng Aowei (Rights protection) 、 Jianxin Shares 、 CITIC Haizhi 、 Jindun Shares 、 Rice Information The share price of 5 shares doubled. On May 17, Wanfeng Aowei, which increased by more than 260% in the year, released the latest record of investor relations activities, and many public offerings participated in the research.
According to the prediction of research institutions under the Ministry of Industry and Information Technology, China's low altitude economy is expected to exceed trillion yuan in 2026. The interviewed fund manager told the Chinese reporter of the securities firm that the low altitude economy is still one of the most noteworthy sectors at present, and the investment in the low altitude economy is expected to be divided into two stages, 2024-2025 may be more event oriented catalysis; After 2026, some companies are expected to gradually reflect low economic income. As the industry enters a rapid outbreak period, a number of outstanding companies can grow into industry giants.
Low altitude economic plate breaks out again
On May 17, the low altitude economic plate broke out. On the news side, the low altitude economy in various regions has been continuously promoted recently:
On May 16, Beijing launched the Beijing Action Plan for Promoting High Quality Development of Low Altitude Economic Industries (2024-2027). It is mentioned in the plan that a leading group for low altitude economic development led by municipal leaders should be established. We will study and formulate a task list, establish a military civilian coordination mechanism, and comprehensively promote airspace management, air traffic control services, demand collection and distribution and other matters. Establish a low altitude industry fund to guide social capital and professional institutions to invest in low altitude industry projects.
On May 15, Nanjing's Low Altitude Economic Development Conference was held, at which the "Nanjing Implementation Plan for Promoting High Quality Development of Low Altitude Economy (2024-2026)", "Nanjing's Several Measures to Support High Quality Development of Low Altitude Economy (Trial)", as well as a batch of advanced technology achievements of Low Altitude Smart Link and 40 low altitude routes in five categories were released, It is proposed that by 2026, the development level of low altitude economy will be the first in China, and the industrial scale of low altitude economy in the city will exceed 50 billion yuan.
"Recently, we have seen continuous catalysis in the low altitude economy, which is an important driving force for the excellent performance of the low altitude economic sector this year." Hu Ze, manager of Yongying low-carbon environmental protection smart choice fund, said in an interview with the Chinese reporter of the securities firm, It is expected that more national and local support policies for low altitude economy will be seen in the future, as well as more catalysts for pilot projects and aircraft airworthiness progress, which will continue to promote the rapid development of the industry. Therefore, keep confidence in the follow-up market performance of the low altitude economy.
Public offering and collective investigation of low altitude economic bull stocks
Under the continuous active concept of low altitude economy, relevant individual stocks have also been actively investigated by public offering.
On May 17, Wanfeng Aowei, a low altitude economic bull stock with an increase of more than 260% in the year, released the latest record of investor relations activities, including Southern Fund, Baijia Fund, Chunhou Fund, Founder Fubang Fund, Fuanda Fund, Everbright Prudential Fund, Red Earth Innovation Fund, Huiquan Fund, Noan Fund, Huatai Berry Fund, Jinxin Fund, Morgan Stanley Fund, Pengyang Fund Taiping Fund, Taixin Fund, CITIC Prudential Fund, China Post Fund, ABC Huili Fund, Fidelity Fund, Huisheng Fund and other public offerings participated in the research.
In this survey, Wanfeng Aowei said that the company was founded in 2001, and in 2020, the industry will be transformed and upgraded into a "dual engine" development pattern of the automotive metal parts lightweight industry and the general aviation aircraft manufacturing industry, in which the general aviation aircraft manufacturing industry will focus on the low altitude field, and its diamond aircraft in the overall design and development, engine manufacturing technology New material technology and advanced manufacturing have the advantage of leading technology research and development in the industry.
It is reported that Wanfeng Aowei holds 55% of the equity of Wanfeng Aircraft. When introducing the advantages of eVTOL (electric vertical takeoff and landing aircraft), the company said that eVTOL is a technology and capital intensive industry, with a high threshold of access. Wanfeng Aircraft has global leading advantages in the design and development of navigation complete aircraft, engine manufacturing, development and application of new materials and advanced manufacturing of complete aircraft in the low altitude field.
It is worth mentioning that the public offering fund added several low altitude economic concept stocks in the fourth quarter of last year. For example, the shareholding ratio of Wanfeng Aowei rose from 0.28% at the end of the third quarter of last year to 2.43% at the end of the fourth quarter of last year. By the end of the first quarter of this year, the public offering shareholding ratio remained at 2.19%; The shareholding ratio of Rice Information rose from 16.62% at the end of the third quarter of last year to 27.5% at the end of the fourth quarter of last year. By the end of the first quarter of this year, the public offering shareholding ratio was 14.95%
Investment in low altitude economy is expected to be divided into two stages
According to the Research Report on China's Low Altitude Economic Development (2024) released by CCID, the Ministry of Industry and Information Technology, China's low altitude economic scale will reach 505.95 billion yuan in 2023, with a growth rate of 33.8%. In terms of cutting-edge track, in 2023, the scale of China's eVTOL industry will be close to 1 billion yuan, and the scale of civil UAV industry will be close to 120 billion yuan. With the increasing number of low altitude flight activities, the investment in low altitude infrastructure will gradually show its effect, and China's low altitude economy will maintain a rapid growth trend in the next few years. It is estimated that by 2026, China's low altitude economy is expected to exceed trillion yuan, reaching 1064.46 billion yuan.
So how to grasp the low level economy in investment? Hu Ze believes that the first is the industrial chain of low altitude aircraft, from eVTOL and complete UAV, to electrical control of motors, and then to parts and components; The second is air traffic control chain, including air traffic control system, radar, etc. As a production tool and important carrier of low altitude economy, aircraft is the first link to benefit. Its industrial chain and new energy vehicles have a certain degree of overlap. Our country has a leading edge and can shift to a certain extent. As the infrastructure of low altitude economy, the air traffic control industry chain will be constructed in advance, such as air traffic control system, radar, high-precision map, satellite and other fields, or there will be many beneficiaries.
Hu Ze said that investment in low altitude economy is expected to be divided into two stages. From 2024 to 2025, it may be more event driven. At the same time, we can see that some companies already have corresponding CAPEX (capital expenditure) and a small number of orders; After 2026, some companies are expected to gradually reflect low economic income. As the industry enters a rapid outbreak period, a number of outstanding companies can grow into industry giants.
Cathay Pacific Fund said that since the beginning of the year, low altitude economy has attracted market attention, and many local governments have responded positively from the policy perspective. On the one hand, many places have included low altitude economy in government work reports, and have successively issued relevant policies to help the development of low altitude economy. On the other hand, low altitude economic industry funds have also been established. Extending from "policy guidance" to "financial support", the positive actions of all regions are not only a positive response to the top-level design, but also a clear optimistic view of this market track. China's low altitude economy will maintain a rapid growth trend in the next few years. According to the prediction of research institutions under the Ministry of Industry and Information Technology, the scale of China's low altitude economy is expected to exceed trillion yuan in 2026.
Editor in charge: Wang Yunpeng
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