Core Viewpoint - The low-altitude economy sector is showing mixed results for 2025, with 22 companies expected to be profitable while another 22 are projected to incur losses, indicating a significant divergence in performance within the industry [3]. Performance Forecast Summary Profit Growth - 11 companies are expected to report profit increases, with notable projections including: - Xinzhi Group (002664.SZ) and Shangluo Electronics (300975.SZ) anticipating several-fold increases in net profit [4]. - Weihai Guangtai (002111.SZ), Tongyu Heavy Industry (300185.SZ), and Guangyang Co. (002708.SZ) expecting over 50% growth in net profit [4]. - Wan Feng Aowei (002085.SZ) and Zongshen Power (001696.SZ) also forecasted net profit growth [4]. Losses - 22 companies are projected to incur losses, with several notable cases: - Zhongtian Rocket (003009.SZ) and Andavil (300719.SZ) have shifted from profit to loss [7]. - Haige Communication (002465.SZ) is investing heavily in R&D, leading to increased costs and a projected loss [7]. - Companies like Aerospace Power (600343.SH) and Sihua Electronics (600990.SH) are also expected to continue reporting losses [8]. Industry Insights - The low-altitude economy's contribution to overall profits remains limited, with most revenue still coming from aircraft manufacturing and infrastructure construction [3]. - Companies like Wan Feng Aowei are leveraging their low-altitude business to drive profit growth, supported by strong orders in general aviation aircraft manufacturing and strategic acquisitions [5]. - The industry is witnessing a shift towards commercial applications of low-altitude technologies, with companies preparing for a significant commercialization phase in 2026 [9][10]. Strategic Developments - Companies are increasingly focusing on integrating low-altitude infrastructure and management platforms, as seen with Suzhou Keda's strategic investments in civil aviation infrastructure [11]. - The emphasis on R&D and market expansion in emerging fields like low-altitude economy is evident, with companies aiming to enhance their competitive edge through innovative solutions [7][11].

Investment Rating - The report maintains a "Recommendation" rating for the company, indicating a positive outlook for the stock's performance in the near term [1]. Core Views - The company is expected to achieve a net profit attributable to shareholders of between 850 million to 1.05 billion yuan in 2025, representing a year-on-year growth of 30.1% to 60.7%, with a median estimate of 950 million yuan, reflecting a 45% increase [7]. - The company is well-positioned in the low-altitude economy sector, driven by its dual strategy of general aviation and eVTOL (electric Vertical Take-Off and Landing) aircraft [7]. - The report highlights the positive impact of the new Civil Aviation Law, which encourages the development of general aviation and low-altitude economy, providing a strong legal framework for industry growth [7]. Financial Summary - Total revenue is projected to grow from 16,264 million yuan in 2024 to 19,879 million yuan by 2027, with a compound annual growth rate (CAGR) of approximately 10.5% [2]. - The net profit attributable to shareholders is forecasted to increase from 653 million yuan in 2024 to 1,429 million yuan in 2027, with a significant growth rate of 50.6% in 2025 [2]. - Earnings per share (EPS) are expected to rise from 0.31 yuan in 2024 to 0.67 yuan in 2027, reflecting a positive trend in profitability [2]. Business Performance - The automotive metal parts lightweight business is optimizing its product and customer structure, leading to improved operational efficiency and profitability [7]. - The general aviation aircraft manufacturing segment is experiencing strong order flow and stable operations, with ongoing improvements in high-value model production processes [7]. - The acquisition of Volocopter GmbH is seen as a strategic move to enhance the eVTOL product matrix and accelerate commercialization efforts in the global low-altitude economy market [7].

Investment Rating - The report maintains a "Recommendation" rating for the company, indicating a positive outlook for the stock's performance in the near term [1]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 850 million to 1.05 billion yuan in 2025, representing a year-on-year growth of 30.1% to 60.7%, with a median estimate of 950 million yuan, reflecting a 45% increase [7]. - The company is focusing on a dual strategy of general aviation and eVTOL (electric Vertical Take-Off and Landing) to drive growth, supported by favorable government policies and market conditions [7]. - The report highlights the company's strong performance in the automotive lightweight metal parts business and the robust order book in the general aviation aircraft manufacturing sector [7]. Financial Performance Summary - **Revenue Forecast**: The total revenue is projected to grow from 16,264 million yuan in 2024 to 19,879 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 10.5% [2]. - **Net Profit Forecast**: The net profit is expected to increase from 653 million yuan in 2024 to 1,429 million yuan in 2027, with a significant growth rate of 50.6% in 2025 [2]. - **Earnings Per Share (EPS)**: EPS is forecasted to rise from 0.31 yuan in 2024 to 0.67 yuan in 2027, reflecting the company's improving profitability [2]. - **Valuation Metrics**: The price-to-earnings (P/E) ratio is projected to decrease from 50 times in 2024 to 23 times in 2027, indicating a more attractive valuation as earnings grow [2]. Business Strategy and Market Position - The company is strategically positioned as a leader in the low-altitude economy, with a focus on expanding its product matrix through acquisitions, such as the purchase of Volocopter, which enhances its eVTOL offerings [7]. - The report emphasizes the importance of government support for the low-altitude economy, particularly with the new Civil Aviation Law set to take effect in July 2026, which encourages innovation and development in the general aviation sector [7]. - The company is actively developing new aircraft models and enhancing its production capabilities to meet the growing demand in both the general aviation and eVTOL markets [7].

eVTOL作为新型飞行器成为国内外厂商研发投入的重点，为低空产业的发展提供了新的机遇。万丰钻 石依托通航领域的领先优势，在有序推进eVTOL、无人机等新型飞行器的研发取证，满足不同应用场 景需求的产品布局。依托全球化研发布局、中国制造、全球销售的模式，使万丰奥威具备了参与国际竞 争与产业协同的独特优势。 作为全球通用航空和低空经济领域的领军企业，万丰奥威正着力打造通航固定翼飞机和以eVTOL、无 人机为代表的低空飞行器研发制造，已在全球布局5个飞机制造工厂、1个飞机制造工程中心和3个飞机 设计研发中心，在全球90个国家设立192个服务中心，构建了"通用固定翼飞机+电动垂直起降航空器 (eVTOL)+无人机"多引擎驱动的全场景出行产品矩阵。依托"立足世界、深耕中国、辐射亚太"战略布 局，公司努力实现南北半球的优势互补、全球资源互联，矢志成为"通用飞机创新制造企业的全球领跑 者"。 近年来，低空经济作为新质生产力重点培育，产业发展迅速。一方面，政策支持力度加大，低空空域经 过多年改革，形成了明确的空域基础分类，使得产业化有了确定性依据。连续两年的中央政府工作报告 高规格定调引领产业加速发展。另一方面，以无人机、e ...

证券日报网讯 1月29日，万丰奥威发布2025年度业绩预告称，公司预计归属于上市公司股东的净利润为 85000万元至105000万元，比上年同期增长30.11%至60.72%。 （文章来源：证券日报） ...

Core Viewpoint - Wan Feng Aowei (002085.SZ) expects a net profit attributable to shareholders of 850 million to 1.05 billion yuan for 2025, representing a year-on-year growth of 30.11% to 60.72% [1] Group 1: Financial Performance - The net profit excluding non-recurring gains and losses is projected to be between 690 million and 890 million yuan, indicating a year-on-year increase of 23.85% to 59.74% [1] Group 2: Business Development - The company’s overall business is expected to develop steadily in 2025, with a focus on optimizing the product and customer structure in the automotive metal parts lightweight business [1] - The company aims to enhance operational efficiency through process improvements and technological innovations, leading to significant operational benefits [1] - The general aviation aircraft manufacturing business is performing well with a good order book, and the production processes for high-value models are continuously being improved [1] Group 3: Strategic Initiatives - The company has completed the acquisition of core assets from Volocopter GmbH, establishing a multi-scenario product matrix for "general aviation fixed-wing-eVTOL-drone" [1] - Active progress is being made in the research and development of new models such as eVTOL, eDA40, and DART series, aimed at enhancing the sustainability of overall business operations [1]

Core Viewpoint - Wan Feng Ao Wei has announced its annual performance forecast, expecting a net profit attributable to shareholders of 850 million to 1.05 billion yuan for 2025, representing a year-on-year increase of 30.11% to 60.72% [1] Group 1: Financial Performance - The company anticipates a net profit excluding non-recurring gains and losses to be between 690 million and 890 million yuan for 2025, with a year-on-year growth of 23.85% to 59.74% [1] - The overall business is expected to develop steadily in 2025, with significant improvements in operational efficiency through cost reduction and process innovation [1] Group 2: Business Development - The automotive metal parts lightweight business is optimizing product and customer structure, enhancing customer support volume [1] - The general aviation aircraft manufacturing business is performing well with a good order book and continuous improvements in high-value-added production processes [1] - The acquisition of Volocopter GmbH's core assets has enabled the company to establish a multi-scenario product matrix for "general aviation fixed-wing-eVTOL-unmanned aerial vehicles" [1] Group 3: Asset Management - The company expects a decrease in the provision for impairment of accounts receivable and other assets compared to 2024 [1] - The acquisition of tangible assets, intellectual property, and specific contractual rights from Volocopter GmbH has contributed to the increase in profitability for the current year [1]

Core Viewpoint - The company expects a net profit attributable to shareholders of 850 million to 1.05 billion yuan for 2025, representing a year-on-year growth of 30.11% to 60.72% [1] Group 1: Business Performance - The overall business of the company is expected to develop steadily in 2025 [1] - The automotive metal parts lightweight business is continuously optimizing product and customer structure, quickly responding to and meeting downstream customer needs, and enhancing customer matching volume [1] - Through process improvements and technological innovations, the company has significantly enhanced operational efficiency and reduced costs [1] Group 2: Aviation Manufacturing - The general aviation aircraft manufacturing business has a good order book and stable operations, with continuous improvements in the production processes of high value-added models [1] - Sales operations are continuously optimized, and the acquisition of core assets from Volocopter GmbH has completed a multi-scenario product matrix for "general aviation fixed-wing eVTOL unmanned aerial vehicles" [1] - The company is actively promoting the research and development of new models such as eVTOL, eDA40, and DART series, enhancing the sustainability of overall business operations [1]

浙江万丰奥威汽轮股份有限公司 2025年度业绩预告 股票代码：002085 股票简称：万丰奥威 公告编号：2026-003 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 | 项 | 目 | | 本报告期 | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司 股东的净利润 | | 盈利：85,000 万元 | 万元~105,000 | 盈利：65,331.35 | 万元 | | | | 比上年同期增长：30.11%~60.72% | | | | | 扣除非经常性损 益后的净利润 | | 万元 盈利：69,000 | 万元~89,000 | 盈利：55,714.09 | 万元 | | | | 比上年同期增长：23.85%~59.74% | | | | | 基本每股收益 | | 盈利：0.40 | 元/股~0.49 元/股 | 盈利：0.32 元/股 | | 二、与会计师事务所沟通情况 本次业绩预告相关的财务数据未经过会计师事务所审计。 三、业绩变动原因说明 1、2025 年度公司整体业务稳健发展。公 ...

关于最受关注的商业化前景，万丰奥威的现有业务提供了一个清晰的观察窗口。李亚透露，公司通航飞 机制造业务业绩主要来源于全球通用航空市场的发展。其中，航校培训市场主力机型DA40、DA42等在 全球飞行员培训领域拥有显著影响力。与此同时，高附加值的私人飞机市场与特种用途市场正成为增长 亮点。私人飞机在北美、欧洲市场需求量大，在亚太地区呈现不断增长态势；特种飞机则在航拍、测 绘、森林防火、巡检等领域提供定制化解决方案，发展空间可观。 置身于万丰航空特色小镇，高端制造的宏大场景令人印象深刻，总规划面积5.5平方公里，核心围绕高 端飞机制造，构建了集机场管理，通航运营、观光旅游、航空运动、飞行体验、驾照培训等于一体的完 整产业链。 这一布局不仅是万丰在通航领域深耕的实体体现，也为国内低空经济的发展提供了重要的基础设施与产 业运营样本。永盈基金通用航空ETF基金经理刘廷宇在实地探访后表示，亲见飞机总装工厂的规模与飞 机的量产状态，极大地增强了对产业落地的信心，这种"看得见、摸得着"的实体进展，是化解投资者对 新兴科技行业"应用虚无"焦虑的关键。 在低空经济的核心——飞行器制造环节，技术自主可控是竞争力的根本。李亚指出，万 ...