Image source: Interface News Kuangda

Reporter Shen Yu

the four departments jointly issued a document to cultivate a trillion-level market, which suddenly "exploded" the already hot concept of low-altitude economy ". On March 28, A- share low-short economic concept stocks set off a wave of ups and downs.

"trillion-level" detonated the market

Jianxin shares (300107.SZ), blue sea huateng (300484.SZ), deep city exchange (301091.SZ), aerospace macro (688066.SH), golden shield shares (300411.SZ), rice information (688631.SH) and other 20CM trading limits.

Leike Defense (002413.SH), Shangong Shenbei (600843.SH), Lihang Technology (603261.SH), Zongshen Power (001696.SZ), Sichuang Electronics (600990.SH), Shandong Mining Machinery (002526.SZ), North Latitude Technology (002148.SZ), Zenghuo Electronics (000561.S00Z), Z7, S00S00Z6, etc.).

in addition, there were more than 16 concept stocks in the-share market that day up more than 10%. Haite Hi-Tech (002023.SZ), Nari Radar (688522.SH), Guangyunda (300227.SZ) and others rose more than 9%, while Aerospace Rainbow (002389.SZ), Zhengyuan Dixin (688509.SH), Sichuan Jiuzhou (000801.SZ), Interchange Control Technology (688015.SH) and Guorui Technology (600562.SH) and others rose more than 8%.

In fact, with the recent intensive release of policy documents from the central to local governments in the low-altitude economic field, industry development expectations continue to increase.

The 2024 government work report proposes to "actively build new growth engines such as biomanufacturing, commercial aerospace, and low-altitude economy". Many cities across the country seize development opportunities and actively lay out the low-altitude economy. At the end of last year, Shenzhen issued a number of measures for Shenzhen to support the high-quality development of low-altitude economy; in March this year, Zhuhai issued a number of measures for Zhuhai to support the high-quality development of low-altitude economy, aiming to promote the development of low-altitude economy.

On March 28, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the Ministry of Finance, and the Civil Aviation Administration of China issued the "Implementation Plan for Innovative Applications of General Aviation Equipment (2024-2030)".

It is proposed that by 2027, my country's general aviation equipment supply capacity and industrial innovation capabilities will be significantly improved, a modern general aviation basic support system will be basically established, an efficient integration of industrial ecology will be initially formed, and a general aviation public service equipment system will be basically improved. The new general aviation equipment characterized by unmanned, electrification and intelligence will be commercially applied in urban air transportation, logistics distribution, emergency rescue and other fields.

by 2030, a new general aviation industry development model characterized by high-end, intelligent and green will be basically established to support and ensure the safe and efficient operation of the "short-distance transportation + electric vertical take-off and landing" passenger transport network, the "dry-branch-terminal" unmanned aerial vehicle distribution network and the low-altitude production operation network to meet the needs of workers and farmers, and the full integration of general aviation equipment into all fields of people's production and life, it has become a powerful driving force for low-altitude economic growth, forming a trillion-dollar market size.

It is the formulation of this trillion-dollar market that completely ignites the market's ambition. The interface news reporter noted that the reason why the low-altitude economy has enough market space and long enough attention is that it is not the development of a single industry, but the economy of the entire industry chain.

China Merchants Securities Research Report believes that the integration of the low-altitude economy is reflected in the main body as a "combined" economic form, the core of which is the integration of aircraft and various industrial forms and the continuous development of application scenarios, that is, "low-altitude +". Such as "low altitude + agriculture and forestry" "low altitude + electricity" "low altitude + logistics" "low altitude + medical" "low altitude + tour" and so on. With the continuous expansion of application scenarios and the strengthening of the guidance of consumption and use, lowering the consumption threshold, the imagination of low-altitude economy will gradually open up.

Everbright Securities Research Report believes that with the development of low-altitude economy-related industries, low-altitude manufacturing, flight control, security and other directions are expected to be laid out in advance. Optimistic about the flight platform advantage host plant and core supporting enterprises, air traffic control system and operational advantages of enterprises, low-altitude airports and security construction of core enterprises development opportunities.

Beware of short-term hype

Low-altitude economy refers to a comprehensive economic form that is dominated by civilian manned and unmanned aircraft, with multi-scene low-altitude flight activities such as manned, cargo and other operations as traction, and radiation drives the integration and development of related fields.

from the early many strong stocks involved in the field, from low-altitude aircraft manufacturers, material suppliers to airports, flight control and so on. However, another common phenomenon is that although the relevant sectors have a layout, the actual ability to affect performance is still small, and there is still a long way to go to realize the real marketization of "concepts". Investors should pay attention to short-term speculation risks.

for example, a month's share price rose more than 300 shares of the golden shield, previously released news, the company and Tsinghua University jointly developed the flying car impeller by the two sides jointly declared the invention patent, jointly declared the research and development results, the property rights of both sides jointly owned. However, in fact, the above products are still in the research and development stage and have not yet been applied.

Rice Information Risk Alert said that the company will develop low-altitude products such as low-altitude flight service solutions and low-altitude navigation service systems, taking into account the construction of the project. In 2023, operating income in the general aviation sector accounted for only about 0.24 percent of the company's main business income.

Watson Technology has announced many times that after the company's self-examination, the company is not involved in low-altitude economy, parachutes and other related businesses. At present, the company's main products are divided into two categories: airtight materials and flexible materials. The above products are not related to parachute materials.

Double One Technology previously stated that the company has provided some customers with mold products for the flying car project, but this part of the product revenue is small.

Zongheng stock change announcement pointed out that the company has recently paid attention to the low-altitude economy as a strategic emerging industry and received strong support from national policies. It is expected that the future industry will develop well, but the current low-altitude economy-related industry policies are still unclear, and the industry development direction has Certain uncertainties, its development speed and phased effects need to be calmly analyzed to avoid short-term blind overheating.

blue sea huateng seems to have made relevant arrangements in the early days of electric aircraft. the electric aircraft motor controller project is the company's key development project in the future. the company has set up relevant teams to focus on the research and development of electric aircraft motor controllers, and is currently in the technical research stage.