Analysis of the Impact of Large-Scale Development of Low-Altitude Economy on Investment Value of A-Share Industry Chain Companies

The Tianjin Low-Altitude Flight Service Platform officially started trial operation at Liulin Zhihui Building in Hexi District, marking Tianjin’s low-altitude economy entering a standardized and systematic development stage [1]. The “Low-Altitude Cloud” service system launched by the platform provides a digital base for airspace management, flight services, and industrial applications through cloud-integrated deployment, and

.

• The
  15th Five-Year Plan
  lists the low-altitude economy as a “strategic emerging industry” [1]
• China Telecom released the
  AI+ “1+1+4+N” low-altitude economy capability system
  , aiming to accelerate the large-scale application of connected drones [1]
• Tianjin Ninghe District established the
  first low-altitude safety technology industrial park in the Beijing-Tianjin-Hebei region
  [1]

The low-altitude economy industry chain can be divided into the following core links:

Upstream Core Components → Midstream Complete Machine Manufacturing → Downstream Operation Services
     ↓                      ↓                ↓
Power Batteries/Chips        eVTOL/UAVs        Flight Service Platforms
Sensors/Navigation           Aircraft Manufacturing          Logistics Distribution

: The above chart shows the market value, 2025 price change, P/E ratio, and comprehensive competitiveness comparison of core A-share companies in the low-altitude economy industry chain. Among them, CATL has a market value of 1.62 trillion USD, far ahead; JOUAV has a 2025 increase of 63.47%, performing outstandingly.

• Investment Highlights
  :
  • 2025 stock price increase of +63.47%, ranking first in the industry chain for annual growth [0]
  • Focuses on industrial-grade UAV systems, with leading positions in surveying and mapping, inspection, security, etc.
  • Market value of 4.85 billion USD, with first-mover advantages among科创板 (STAR Market) UAV enterprises

• Risk Tips
  :
  • Currently in a loss state (PE: -2244.85x), ROE: -0.38% [0]
  • High valuation (P/B:8.06x), need to pay attention to profit improvement progress

• Investment Highlights
  :
  • 2025 increase of +39.18%, market value of 23.62 billion USD [0]
  • Rainbow series UAVs have high popularity in domestic and international markets
  • Military business provides stable cash flow, and civilian market has large expansion space

• Financial Performance
  :
  • Net profit margin:3.15%, relatively stable operation capability
  • Current ratio:2.97, sound financial status [0]

• Strategic Value
  :
  • Global power battery leader, market value of
    1.62 trillion USD
    [0]
  • 2025 increase of +41.92%, stable performance [0]
  • Has technical barriers in high-energy-density battery field for eVTOL

• Financial Health
  :
  • PE:26.13x
    , most reasonable valuation in the industry chain [0]
  • ROE up to
    22.84%
    , net profit margin:16.53%, excellent profitability [0]
  • Sufficient cash flow to support high R&D investment

###3. Aerospace and Equipment (Technology Support)

• Market value:19.321 billion USD, 3-year increase:
  447.23%
  [0]
• Mainly engaged in aerospace sensors, testing equipment, etc.
• Although current PE is as high as1508x, it benefits from the trend of military electronics

• Market value:6.64 billion USD, has advantages in security chip field
• Net profit margin:23.28%, strong profitability [0]
• Provides core chips for flight control, communication, etc. for low-altitude aircraft

Industry Chain Link	Short-term Catalysts	Mid-to-Long Term Growth Potential	Recommendation Rating
UAV Complete Machines	Policy promotion, logistics demand outbreak	Trillion-level market space	★★★★☆
Power Batteries	eVTOL mass production, technological breakthroughs	High-nickel ternary, solid-state battery iteration	★★★★★
Core Components	Domestic replacement, military-civilian integration	Military + civilian dual drive	★★★★☆
Flight Service Platforms	Digital management, safety systems	Long-term value of operation services	★★★☆☆

From 2025 price performance [0]:

• JOUAV
  : Jan $35.63 → Dec $55.40, increase:55.49%, volatility:3.46%
• Aerospace Rainbow
  : Jan $18.00 → Dec $23.98, increase:33.22%, volatility:2.65%

1. Technical Risk
   : eVTOL technology is still in the early commercial stage, and technical routes have uncertainties
2. Policy Risk
   : Adjustments to airspace management policies may affect the industrial landing rhythm
3. Valuation Risk
   : Some companies have overvalued (e.g., JOUAV), need to be alert to underperformance

:

• CATL (300750.SZ)
  : Power battery leader, reasonable valuation (PE:26x), strong profitability [0]
• Allocation Suggestion
  :30-40% position, as the cornerstone of low-altitude economy layout

:

• Aerospace Rainbow (002389.SZ)
  : Military-civilian integration, stable business, 2025 increase:39% [0]
• Unigroup Guoxin Microelectronics (002049.SZ)
  : Aerospace chips, net profit margin:23% [0]
• Allocation Suggestion
  :20-25% position each

:

• JOUAV (688070.SS)
  : Pure industrial UAV target,2025 increase:63%, but currently in loss [0]
• Allocation Suggestion
  :10-15% position, suitable for investors with high risk preference

• Short-term (3-6 months)
  : Focus on trading opportunities brought by policy catalysts
• Mid-term (1-2 years)
  : Pay attention to eVTOL mass production progress and commercial landing
• Long-term (3-5 years)
  : Trillion-level market of low-altitude economy is expected to form, companies with core technologies will win

According to industry forecasts [1]:

• By
  2025
  , China’s low-altitude economy-related stocks have risen
  1.9x
• By
  2030
  , low-altitude economy is expected to become a trillion-level emerging market
• The industry chain covers multiple fields such as aircraft manufacturing, operation services, infrastructure, etc.

The trial operation of Tianjin’s “Low-Altitude Cloud” platform marks the industry entering the stage of large-scale application from

, and the safety system with digital base and quantum encryption will provide guarantee for the healthy development of the industry [1].

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[0] Gilin API Data - A-share company financial data, stock prices and market performance

[1] Yahoo Finance - “China Telecom Releases AI+ Low-Altitude Economy Capability System” (https://hk.finance.yahoo.com/news/中電信-00728-hk-發布ai-低空經濟能力體系-080119264.html)

[2] China Daily - “Tianjin leverages its district’s green assets for growth” (https://www.chinadaily.com.cn/a/202512/26/WS694dec38a310d6866eb30972.html)

[3] Market Digest - China Low-Altitude Economy and Flying Car Market Analysis (2025) (https://media.zenfs.com/en/market_digest_986/cc3f1c8e90229d1163b42c189ead70d1)