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<!DOCTYPE html>
<html lang="zh-CN">
<head>
<meta charset="utf-8" />
<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
<title>全球首张eVTOL运营证 - 低空经济新纪元</title>
<link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
<!-- Font Awesome Icons -->
<script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
<!-- Tailwind CSS -->
<link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
<!-- DaisyUI -->
<link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
<script src="https://cdn.jsdelivr.net/npm/@tailwindcss/browser@4"></script>
<link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
<style>
@import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
body {
font-family: 'Noto Sans SC', 'Inter', sans-serif;
}
.gradient-bg {
background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
}
.card-hover {
transition: all 0.3s ease;
}
.card-hover:hover {
transform: translateY(-5px);
box-shadow: 0 10px 20px rgba(0,0,0,0.1);
}
#particles-js {
position: absolute;
width: 100%;
height: 100%;
top: 0;
left: 0;
z-index: -1;
}
.timeline-item::before {
content: '';
position: absolute;
left: 0;
top: 0;
width: 2px;
height: 100%;
background-color: #667eea;
}
.timeline-dot {
position: absolute;
left: -6px;
top: 5px;
width: 14px;
height: 14px;
border-radius: 50%;
background-color: #667eea;
border: 2px solid white;
}
.table-container {
overflow-x: auto;
}
@media (max-width: 768px) {
.table-container {
overflow-x: scroll;
}
}
</style>
</head>
<body class="bg-gray-50">
<div id="particles-js"></div>
<div class="container mx-auto px-4 py-8 relative z-10">
<!-- 顶部标题和简介 -->
<div class="text-center mb-12">
<h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">全球首张eVTOL运营证</h1>
<p class="text-xl text-gray-600 max-w-3xl mx-auto">低空经济新纪元开启:从"能造"到"能运营"的历史性跨越</p>
<div class="mt-6 flex justify-center space-x-4">
<span class="bg-blue-100 text-blue-800 px-4 py-2 rounded-full text-sm font-medium">eVTOL</span>
<span class="bg-purple-100 text-purple-800 px-4 py-2 rounded-full text-sm font-medium">低空经济</span>
<span class="bg-indigo-100 text-indigo-800 px-4 py-2 rounded-full text-sm font-medium">亿航智能</span>
</div>
</div>
<!-- 概念事件时间轴 -->
<div class="bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
<i class="fas fa-history text-blue-500 mr-3"></i>概念事件时间轴
</h2>
<div class="relative pl-8">
<div class="timeline-item relative pl-6 pb-6">
<div class="timeline-dot"></div>
<div class="bg-blue-50 p-4 rounded-lg">
<h3 class="font-bold text-lg text-blue-700">2025年3月28日</h3>
<p class="text-gray-700">中国民航局向合肥合翼航空亿航智能与合肥国资合资公司和广东亿航通用航空亿航全资子公司颁发全球首张民用无人驾驶载人航空器运营合格证OC</p>
</div>
</div>
<div class="timeline-item relative pl-6 pb-6">
<div class="timeline-dot"></div>
<div class="bg-purple-50 p-4 rounded-lg">
<h3 class="font-bold text-lg text-purple-700">2023年10月</h3>
<p class="text-gray-700">亿航EH216-S获全球首张eVTOL型号合格证TC</p>
</div>
</div>
<div class="timeline-item relative pl-6 pb-6">
<div class="timeline-dot"></div>
<div class="bg-indigo-50 p-4 rounded-lg">
<h3 class="font-bold text-lg text-indigo-700">2024年4月</h3>
<p class="text-gray-700">获全球首张eVTOL生产许可证PC</p>
</div>
</div>
<div class="timeline-item relative pl-6">
<div class="timeline-dot"></div>
<div class="bg-green-50 p-4 rounded-lg">
<h3 class="font-bold text-lg text-green-700">2025年下半年</h3>
<p class="text-gray-700">EH216-S计划在广州、合肥开启规模化商业运营票价299元/次,盈亏平衡点)</p>
</div>
</div>
</div>
</div>
<!-- 核心观点摘要 -->
<div class="grid grid-cols-1 md:grid-cols-3 gap-6 mb-8">
<div class="bg-white rounded-xl shadow-lg p-6 card-hover">
<div class="text-blue-500 mb-4">
<i class="fas fa-chart-line text-3xl"></i>
</div>
<h3 class="text-xl font-bold text-gray-800 mb-3">阶段判断</h3>
<p class="text-gray-600">eVTOL产业从政策驱动进入商业化验证阶段OC证是"0到1"的里程碑2025年将成为"低空经济落地年"</p>
</div>
<div class="bg-white rounded-xl shadow-lg p-6 card-hover">
<div class="text-purple-500 mb-4">
<i class="fas fa-rocket text-3xl"></i>
</div>
<h3 class="text-xl font-bold text-gray-800 mb-3">核心驱动力</h3>
<p class="text-gray-600">政策空域放开300米以下非管制空域+ 技术成熟度(亿航三证齐全)+ 场景刚需(景区观光、短途接驳)</p>
</div>
<div class="bg-white rounded-xl shadow-lg p-6 card-hover">
<div class="text-indigo-500 mb-4">
<i class="fas fa-globe text-3xl"></i>
</div>
<h3 class="text-xl font-bold text-gray-800 mb-3">未来潜力</h3>
<p class="text-gray-600">2027年全球eVTOL需求或达1万架文旅场景中国市场规模2000亿元观光+通勤+整机销售)</p>
</div>
</div>
<!-- 核心驱动力与市场认知 -->
<div class="bg-white rounded-xl shadow-lg p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
<i class="fas fa-lightbulb text-yellow-500 mr-3"></i>核心驱动力与市场认知
</h2>
<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
<div>
<h3 class="text-lg font-bold text-gray-700 mb-3">核心驱动力</h3>
<ul class="space-y-3">
<li class="flex items-start">
<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
<div>
<span class="font-medium">政策端:</span>
<span class="text-gray-600">2025年国务院将低空经济写入政府工作报告合肥/深圳等地专项债投入基建威海50亿元产业园</span>
</div>
</li>
<li class="flex items-start">
<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
<div>
<span class="font-medium">技术端:</span>
<span class="text-gray-600">亿航EH216-S续航35公里、噪音50分贝成本仅为直升机的1/10239万元/架 vs 直升机6000万元</span>
</div>
</li>
<li class="flex items-start">
<i class="fas fa-check-circle text-green-500 mt-1 mr-2"></i>
<div>
<span class="font-medium">需求端:</span>
<span class="text-gray-600">中国3000+景区中10%渗透率即可支撑3000架需求每景区3-5架</span>
</div>
</li>
</ul>
</div>
<div>
<h3 class="text-lg font-bold text-gray-700 mb-3">市场热度与预期差</h3>
<div class="bg-yellow-50 p-4 rounded-lg mb-4">
<h4 class="font-medium text-yellow-800 mb-2">市场热度</h4>
<p class="text-gray-700 text-sm">3月28-31日中信证券、国联民生等6家券商连发研报祥源文旅、西域旅游等运营端公司涨停</p>
</div>
<div class="bg-red-50 p-4 rounded-lg">
<h4 class="font-medium text-red-800 mb-2">预期差</h4>
<p class="text-gray-700 text-sm">OC证仅限留空飞行A点往返城市间点对点需重新申请"载客类"OC技术路线多旋翼续航瓶颈未突破</p>
</div>
</div>
</div>
</div>
<!-- 产业链与核心公司深度剖析 -->
<div class="bg-white rounded-xl shadow-lg p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
<i class="fas fa-sitemap text-blue-500 mr-3"></i>产业链与核心公司深度剖析
</h2>
<div class="overflow-x-auto">
<table class="min-w-full bg-white">
<thead>
<tr class="bg-gray-100 text-gray-600 uppercase text-sm leading-normal">
<th class="py-3 px-6 text-left">公司</th>
<th class="py-3 px-6 text-left">角色</th>
<th class="py-3 px-6 text-left">进展</th>
<th class="py-3 px-6 text-left">风险点</th>
</tr>
</thead>
<tbody class="text-gray-600 text-sm">
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">亿航智能</td>
<td class="py-3 px-6 text-left">全球龙头</td>
<td class="py-3 px-6 text-left">四证齐全订单1000+架</td>
<td class="py-3 px-6 text-left">多旋翼续航瓶颈估值15倍PE</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">万丰奥威</td>
<td class="py-3 px-6 text-left">A股稀缺</td>
<td class="py-3 px-6 text-left">收购Volocopter双轮驱动</td>
<td class="py-3 px-6 text-left">技术整合不及预期</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">祥源文旅</td>
<td class="py-3 px-6 text-left">运营先锋</td>
<td class="py-3 px-6 text-left">50架订单+丹霞山首航</td>
<td class="py-3 px-6 text-left">景区客流不及预期</td>
</tr>
<tr class="hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">深城交</td>
<td class="py-3 px-6 text-left">基建总包</td>
<td class="py-3 px-6 text-left">深圳低空示范区中标</td>
<td class="py-3 px-6 text-left">政府回款周期长</td>
</tr>
</tbody>
</table>
</div>
<div class="mt-6">
<h3 class="text-lg font-bold text-gray-700 mb-3">产业链图谱</h3>
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
<div class="bg-blue-50 p-4 rounded-lg">
<h4 class="font-medium text-blue-700 mb-2">上游</h4>
<p class="text-gray-600 text-sm">电池宁德时代500Wh/kg、电机卧龙电驱30kW系统、碳纤维吉林化纤</p>
</div>
<div class="bg-purple-50 p-4 rounded-lg">
<h4 class="font-medium text-purple-700 mb-2">中游</h4>
<p class="text-gray-600 text-sm">整机亿航智能EH216-S、飞控中航618所、空管四川九洲雷达</p>
</div>
<div class="bg-indigo-50 p-4 rounded-lg">
<h4 class="font-medium text-indigo-700 mb-2">下游</h4>
<p class="text-gray-600 text-sm">运营(祥源文旅、西域旅游)、基建(深城交总包)</p>
</div>
</div>
</div>
</div>
<!-- 关键催化剂与未来发展路径 -->
<div class="bg-white rounded-xl shadow-lg p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
<i class="fas fa-road text-green-500 mr-3"></i>关键催化剂与未来发展路径
</h2>
<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
<div>
<h3 class="text-lg font-bold text-gray-700 mb-3">近期催化剂3-6个月</h3>
<div class="space-y-3">
<div class="bg-green-50 p-4 rounded-lg">
<h4 class="font-medium text-green-800 mb-1">政策</h4>
<p class="text-gray-700 text-sm">民航局发布《eVTOL运营规范细则》预计2025年6月明确异地起降标准</p>
</div>
<div class="bg-blue-50 p-4 rounded-lg">
<h4 class="font-medium text-blue-800 mb-1">订单</h4>
<p class="text-gray-700 text-sm">祥源文旅50架EH216-S交付丹霞山/齐云山项目西域旅游120架新疆独家运营权落地</p>
</div>
<div class="bg-purple-50 p-4 rounded-lg">
<h4 class="font-medium text-purple-800 mb-1">基建</h4>
<p class="text-gray-700 text-sm">深圳600个起降点招标启动深城交、莱斯信息受益</p>
</div>
</div>
</div>
<div>
<h3 class="text-lg font-bold text-gray-700 mb-3">长期路径</h3>
<div class="space-y-3">
<div class="bg-indigo-50 p-4 rounded-lg">
<h4 class="font-medium text-indigo-800 mb-1">2025-2026</h4>
<p class="text-gray-700 text-sm">景区观光规模化票价降至200元/次),复合翼/倾转旋翼机型VT-30取证</p>
</div>
<div class="bg-yellow-50 p-4 rounded-lg">
<h4 class="font-medium text-yellow-800 mb-1">2027-2030</h4>
<p class="text-gray-700 text-sm">城市空中交通UAM网络成型电池能量密度突破500Wh/kg宁德时代凝聚态电池</p>
</div>
</div>
</div>
</div>
</div>
<!-- 潜在风险与挑战 -->
<div class="bg-white rounded-xl shadow-lg p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
<i class="fas fa-exclamation-triangle text-red-500 mr-3"></i>潜在风险与挑战
</h2>
<div class="grid grid-cols-1 md:grid-cols-2 gap-4">
<div class="bg-red-50 p-4 rounded-lg">
<h3 class="font-bold text-red-700 mb-2 flex items-center">
<i class="fas fa-microchip mr-2"></i>技术风险
</h3>
<p class="text-gray-700">多旋翼机型续航<30分钟固态电池量产需2026年后</p>
</div>
<div class="bg-orange-50 p-4 rounded-lg">
<h3 class="font-bold text-orange-700 mb-2 flex items-center">
<i class="fas fa-store mr-2"></i>商业化风险
</h3>
<p class="text-gray-700">OC证限制留空飞行异地起降政策未放开</p>
</div>
<div class="bg-yellow-50 p-4 rounded-lg">
<h3 class="font-bold text-yellow-700 mb-2 flex items-center">
<i class="fas fa-landmark mr-2"></i>政策风险
</h3>
<p class="text-gray-700">军方空域审批权下放进度低于预期参考2024年空管委改革</p>
</div>
<div class="bg-purple-50 p-4 rounded-lg">
<h3 class="font-bold text-purple-700 mb-2 flex items-center">
<i class="fas fa-info-circle mr-2"></i>信息矛盾
</h3>
<p class="text-gray-700">路演称"OC证全球首张"但美团2025年4月获物流OC证需区分载人/载物场景</p>
</div>
</div>
</div>
<!-- 综合结论与投资启示 -->
<div class="bg-gradient-to-r from-blue-500 to-purple-600 rounded-xl shadow-lg p-6 mb-8 text-white">
<h2 class="text-2xl font-bold mb-6 flex items-center">
<i class="fas fa-chart-line text-yellow-300 mr-3"></i>综合结论与投资启示
</h2>
<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
<div>
<h3 class="text-xl font-bold mb-3">阶段判断</h3>
<p class="text-blue-100">处于商业化早期主题炒作向订单驱动过渡2025年Q2-Q3为验证窗口期</p>
</div>
<div>
<h3 class="text-xl font-bold mb-3">投资方向</h3>
<div class="space-y-2">
<div class="bg-white bg-opacity-20 p-3 rounded-lg">
<span class="font-medium">最确定:</span>
<span>亿航智能(唯一四证齐全)+ 祥源文旅(运营端订单落地)</span>
</div>
<div class="bg-white bg-opacity-20 p-3 rounded-lg">
<span class="font-medium">弹性最大:</span>
<span>深城交(基建招标)+ 宗申动力(电机供应链)</span>
</div>
</div>
</div>
</div>
<div class="mt-6 bg-white bg-opacity-20 p-4 rounded-lg">
<h3 class="font-bold mb-2">跟踪指标</h3>
<ul class="space-y-1 text-blue-100">
<li>• 订单亿航2025年交付量目标600架 vs 2024年216架</li>
<li>• 政策民航局《eVTOL载客运营规范》发布时间</li>
<li>• 成本电池价格降至0.8元/Wh以下当前1.2元/Wh</li>
</ul>
</div>
<div class="mt-4 bg-red-500 bg-opacity-30 p-4 rounded-lg">
<p class="font-bold">风险提示:</p>
<p class="text-sm">若2025年Q3前无新增OC证发放或景区运营数据低于预期如祥源文旅丹霞山项目日飞行<10架次板块或面临回调</p>
</div>
</div>
<!-- 关联股票数据表格 -->
<div class="bg-white rounded-xl shadow-lg p-6 mb-8">
<h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
<i class="fas fa-table text-green-500 mr-3"></i>关联股票数据
</h2>
<div class="table-container">
<table class="min-w-full bg-white">
<thead>
<tr class="bg-gray-100 text-gray-600 uppercase text-sm leading-normal">
<th class="py-3 px-6 text-left">股票名称</th>
<th class="py-3 px-6 text-left">项目</th>
<th class="py-3 px-6 text-left">分类</th>
<th class="py-3 px-6 text-left">产业链</th>
<th class="py-3 px-6 text-left">相关公司</th>
</tr>
</thead>
<tbody class="text-gray-600 text-sm">
<!-- 亿航智能订单量数据 -->
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">亿航智能(250330)</td>
<td class="py-3 px-6 text-left">eVTOL载人场景商业化、OC证颁发、合肥合翼航空合作项目</td>
<td class="py-3 px-6 text-left">智能飞行器制造、载人无人驾驶航空器运营</td>
<td class="py-3 px-6 text-left">研发-制造-运营服务</td>
<td class="py-3 px-6 text-left">意向订单、采购订单</td>
</tr>
<!-- 低空经济产业链数据 -->
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">亿航智能</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">亿航智能(250330)</td>
<td class="py-3 px-6 text-left">制造链</td>
<td class="py-3 px-6 text-left">安凯客车、英搏尔、吉林化纤、广汽集团、长源东谷、创世纪</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">广电计量</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">亿航智能(250330)</td>
<td class="py-3 px-6 text-left">合作</td>
<td class="py-3 px-6 text-left">中国外运、国轩高科、孚能科技、中化岩土</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">祥源文旅</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">亿航智能(250330)</td>
<td class="py-3 px-6 text-left">运营链</td>
<td class="py-3 px-6 text-left">西域旅游、岭南股份</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">万丰奥威</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">整机</td>
<td class="py-3 px-6 text-left">eVTOL</td>
<td class="py-3 px-6 text-left">海特高新、中直股份、商络电子、金盾股份、山河智能、建新股份</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">宗申动力</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">动力系统</td>
<td class="py-3 px-6 text-left">动力系统</td>
<td class="py-3 px-6 text-left">应流股份、蓝海华腾、航发控制、英搏尔、卧龙电驱、海特高新</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">吉林化纤</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">碳纤维</td>
<td class="py-3 px-6 text-left">碳纤维</td>
<td class="py-3 px-6 text-left">康达新材、广联航空、中航高科、双一科技、精工科技、安达维尔、威奥股份</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">深城交</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">综合服务</td>
<td class="py-3 px-6 text-left">空管</td>
<td class="py-3 px-6 text-left">莱斯信息、国睿科技、纳睿达</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">四川九洲</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">综合服务</td>
<td class="py-3 px-6 text-left">系统服务</td>
<td class="py-3 px-6 text-left">声迅股份、杰创智能、莱斯信息、川大智胜</td>
</tr>
<tr class="border-b border-gray-200 hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">中信海直</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">行业应用</td>
<td class="py-3 px-6 text-left">旅游</td>
<td class="py-3 px-6 text-left">岭南控股、西域旅游</td>
</tr>
<tr class="hover:bg-gray-50">
<td class="py-3 px-6 text-left font-medium">永悦科技</td>
<td class="py-3 px-6 text-left">低空经济</td>
<td class="py-3 px-6 text-left">行业应用</td>
<td class="py-3 px-6 text-left">物流</td>
<td class="py-3 px-6 text-left">顺丰控股、韵达股份、智莱科技、新北洋、天虹股份、科瑞技术</td>
</tr>
</tbody>
</table>
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