Low-altitude economy standard system construction accelerates; related listed companies usher in a new development milestone

Securities Daily Reporter Wu Yixuan    Intern Reporter Wang Nan

The low-altitude economy is an important track in China’s strategic emerging industries. Currently, the industry is moving from pilot exploration toward large-scale and standardized development, with accelerated deployment across the industry chain and urgent need for supporting制度建设. Against this backdrop, the top-level design of the national low-altitude economy standard system has been officially released, laying a solid制度基础 for high-quality industry development.

On February 2nd, ten departments including the State Administration for Market Regulation, the Central Civil Aviation Administration, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Transport, and the Civil Aviation Administration of China jointly issued the “Guidelines for the Construction of the Low-Altitude Economy Standard System (2025 Edition)” (hereinafter referred to as the “Guidelines”). The “Guidelines” specify that by 2027, a basic low-altitude economy standard system will be established, sufficiently meeting the needs for safe and healthy development of the low-altitude economy. By 2030, more than 300 standards in the low-altitude economy field will be in place, forming a structured, advanced, and internationally compatible standard system to support safe and healthy industry growth.

Sun Yuhao, senior partner at Shanghai Hahai Yongtai Law Firm, told Securities Daily that the “Guidelines” establish unified technical rules for all links in the low-altitude economy industry chain and clarify market expectations, breaking down barriers to large-scale development caused by standards issues. Listed companies involved in the low-altitude economy can rely on this system to clarify compliant R&D pathways and transform technology into core barriers through participation in standard setting. From a legal perspective, the “Guidelines” integrate mandatory and recommended standards, defining safety bottom lines while leaving room for innovation. Companies involved in developing or even leading standards for electric vertical takeoff and landing aircraft, as well as suppliers achieving breakthroughs in core component domestic substitution, will find it easier to gain competitive advantages.

In the aircraft manufacturing segment, leading companies are taking early steps with notable results. Zhejiang Wanfeng Aowei Turbine Co., Ltd. (“Wanfeng Aowei”) completed the acquisition of core assets of German eVTOL (electric vertical takeoff and landing aircraft) company Volocopter in March 2025. By integrating Volocopter’s cutting-edge eVTOL technologies, including distributed electric propulsion systems and the VoloIQ aviation cloud platform, combined with Wanfeng Aowei’s manufacturing experience in general aviation, they successfully built a multi-scenario mobility product matrix of “fixed-wing + vertical takeoff and landing aircraft + drones.”

Companies in the core components sector are also accelerating technological breakthroughs to seize industry opportunities. Zhejiang Jindun Fan Machinery Co., Ltd. established a wholly owned subsidiary, Zhejiang Hanyi Intelligent Propulsion Technology Co., Ltd., in July 2025, dedicated to the development and industrialization of ducted fan propulsion systems. In December of the same year, the company disclosed on investor interaction platforms that its in-development ducted fan products had completed ground performance and reliability testing, achieved integration with low-altitude aircraft, and successfully verified vertical takeoff, hover, and flight capabilities.

In operation services and scene applications, leading enterprises leverage network deployment and operational qualifications to continue scaling up pilot projects in 2025. SF Holding Co., Ltd. launched the country’s first “air-ground collaboration” smart logistics operation center in Shenzhen in February 2025. In March, the company partnered with Yifei Aviation to pilot large unmanned transport aircraft for branch logistics, ordering 100 ES1000 models initially. In April, they expanded their low-altitude logistics network in Hong Kong and planned 10 takeoff and landing points.

Public information shows that SF Holding is continuously building a low-altitude logistics network centered in Shenzhen, radiating to major cities in the Guangdong-Hong Kong-Macao Greater Bay Area. They have opened multiple cross-city routes from Shenzhen to Dongguan, Zhongshan, and Zhuhai, and launched a “cross-city flying delivery” service for individual users, providing efficient and convenient low-altitude logistics support for regional economic development.

As the industry standard system is implemented, policy support for the low-altitude economy will also be further improved. The new Civil Aviation Law of the People’s Republic of China will come into effect in July 2026.

In this regard, Bo Wenxi, chairman of Zhonghe Kunlun (Beijing) Asset Management Co., Ltd., told Securities Daily that the “Guidelines” construct a “four-dimensional integration” standard system that aligns with the new Civil Aviation Law and policies such as the “Low-Altitude Economy and Its Core Industry Statistical Classification (Trial).” This will provide safety, efficiency, and coordination support for the large-scale development of the low-altitude economy. Over the next one to two years, type certification, airspace opening, and scene applications will become core focuses, driving the low-altitude economy to become one of China’s new engines for economic growth.