文｜融中财经

yijia200yidedujiaoshou，pochanle。

zuoweiweilaijiaotonglingyudexianqu，feixingqicheyizhichengzaizhegongzhongduiweilaichuxingfangshidewuxianxiaxiang。raner，xianshizhongdejinzhanbingbuzongshirurensuoyuan。zaizheiyilingyuzhong，cengjingbeikanzuoshixingyelingtouyangdeliliumgongsi，zuijinzaoyulezhongdacuozhe。

zuijin，zheijiabeiyuweifeixingqichexingyede“tesila”degongsixuanbu，youyuwufachoujidaozugoudezijinweichiyunying，yijingxiangdeguobairenzhoudefayuantijiaolepochanshenqing。

lingrenyiwaideshi，jiuzaixuanbupochandeqianjitian，liliumhaiduiwaixuanchengshixianleyixiangzhongdatupo：chenggongqidonglequandiandongdelilium jetyuanxingji。zheiyipochanxiaoxidechuanchu，xunsuzaiguojikejijieyinqileguangfanguanzhu。bijing，zheishiyijiayouzhejiunianlishi、zhongduozhimingtouzizhezhichi、leijirongzichaoguobaiyirenminbidexingyejutou，qiturandebengkuiwuyilingrengandaojingyaheyihan。

zichengliyilai，liliumyijingchoujileyue14.5yimeiyuan（yuehe103yiyuanrenminbi）dezijin，qizhongtengxunshiqizhuyaodetouzifangzhiyi。zaililiumguoqudeshiduolunrongzizhong，tengxuncanyulezhishaoqilun，bingqiezaiyoutengxunlingtoudesanlunrongzizhong，weililiumchoujileyue5.7yimeiyuan（yuehe40yiyuanrenminbi）。

2020nian，liliumtongguospacfangshichenggongshangshi，shizhiyidugaoda100yimeiyuan（yuehe713yiyuanrenminbi）。raner，suizhepochandexuanbu，qigujiabaodiechaoguo60%，shizhisuoshuizhibuzu1yimeiyuan，zheiyizhuanbianlingrenxixubuyi。

9年的超级独角兽宣告破产

zi2015nianchengliyilai，liliumzaidikongjingjilingyushangweixingchengrechaozhishi，bianyijingkaishibuju。

pingjieqichuangxinde“gushi”he“gainian”，liliumxunsuxiyinlezibenshichangdemuguang，bingchenggonghuodeleouzhouzhimingtouzijigoufreigeist capitaldeshoulunzhongzizijin。jinjiezhe，zaicinian，liliumyouxunsuwanchengle1070wanmeiyuandealunrongzi。zheilianglunrongziweililiumdejishufazhantigonglejianshidezijinjichu。2017nian4yue，liliumxuanbuqifeixingqiyuanxinglilium jetchenggongwanchengleshouciceshifeixing。

suizhedikongjingjigainiandequanmianbaofa，zibenfenfenyongruzheiyilingyu，erzuoweixingyedexianxingzhehelingdaozhe，liliumziranyehuodelegengduodezijinzhichi。

tongnian9yue，liliumwanchengle9000wanmeiyuandeblunrongzi，gailunrongziyoutengxunlingtou。juxi，tengxunzhishaocanyuleliliumde7lunrongzi，qizhongzhishao3lunshiyoutengxunlingtou，zongtouziegaodayue5.7yimeiyuan（yue40yiyuanrenminbi）。

zijindezhurushideliliumdechanpindeyitiqianwenshi。2019nian，liliumxuanbuchenggongzhizaobingshifeileshijieshangdiyijiaquandiandongpenqishiwuzuofeijiyuanxingji。tongnian，liliumyouwanchenglechaoguo2.4yimeiyuanderongzi，guzhidadao10yimeiyuan，zhengshimairudujiaoshouqiyedexinglie。

liliumderongzibufabingweijiucitingzhi。2021nian，liliumtongguofanxiangshougouzainasidakechenggongshangshi，guzhidadao33yimeiyuan（touzirenleijitigong14.5yimeiyuan），chengweijiyihanghejobyzhihoudisanjiazaimeiguoshangshidediandonghangkongqiye，yebeiyuwei“feixingqichelingyudeyigu”。

jinguanhuodeleruciduodetouzi，liliumdechuangshirendanielquesihuxianrulejiayuetingshidekunjing，yizhibiaoshicunzaixuduo“tiaozhan”，xuyaogengduozijinlaikefu。yinci，zai2022nianhe2023nian，liliumyoufenbiehuodele1.19yimeiyuanhe2.92yimeiyuanderongzi。

shijianyiniannianguoqu，zijinyilunluntouru，dandanielrengranshengcheng，zhiyaozaiyouyixiezijinzhichi，jiunengzai2024nianxiabannianshixianshoucizairenfeixingdemubiao。raner，zibenshichangdenaixinshiyouxiande，yijingmeiyoujigouyuanyixiangxindaniel wiegandsuomiaohuidehongweilantu。

jinnian，liliumshitucongdeguofuxingxindaiyinxinghuodeyue1yiouyuandedaikuan，danyouyudeguolianbangzhengfujujuetigongdanbao，zheiyinulixuangaoshibai。suihou，liliumbiaoshiqizigongsijianggenjudeguofalvshenqingpochan。zigongsidepochanshenqingkenenghuidaozhililiumzuizhongcongnasidakequanqiujingxuanshichangtuishi，huobeitingpai。

shijishang，liliumdekunjingzaizhiqiangongbudezhongqicaibaozhongyiyoujixiang。

jinnianshangbannian，liliumdeyanfafeiyong、yibanheguanlifeiyongyijixiaoshoufeiyongfenbiewei1.31yiouyuan（yue10yiyuanrenminbi），0.49yiouyuan（yue3.8yiyuanrenminbi），yiji0.06yiouyuan（yue0.48yiyuanrenminbi），yuquniantongqixiangbifenbiezengzhangle55%，22.7%yiji49%。youyuquefashangyehuachengguo，liliummeiyoushouru，zhuyaoyikaogudongrongzihedaikuanlaiweichiyunying。yinci，liliumzhengtikuisun，jinnianshangbannianjingkuisunle8694.9wanouyuan（yue6.7yiyuanrenminbi），shangshihouleijikuisunjin20yiouyuan（yue153yiyuanrenminbi），rongzisuodedexianjinjihuyijinghaojin。

jinnianshangbannian，liliumdejingyinghuodongxianjinliujianshaole1.59yiouyuan（yue12.2yiyuanrenminbi），ertouziherongzihuodongchanshengdexianjinliufenbiezengjiale0.81yiouyuan（yue6.2yiyuanrenminbi）he1.05yiouyuan（yue6.24yiyuanrenminbi）。

jiezhijinnianshangbannianmo，liliumdexianjinjixianjindengjiawujinshengxia1.09yiouyuan（yue8.4yiyuanrenminbi），xianjinchubeiyijingdaoleweixiandebianyuan。

gongsigaocengtoulu，liliumdeweilaiyunyingnenglizaihendachengdushangqujueyunengfouchenggonghuodezhengfudekezhuanhuandaikuanzhichi。zigongsichengliyilai，liliumyizhimianlinzhechixudekuisunhefudeyunyingxianjinliu，qieyujizheizhongzhuangkuangzaiweilaiyiduanshijianneirengjiangchixu。

jiyudangqianderongzicelve，liliumpoqiexuyaoewaidezijinzhuruyibaochiyewudelianxuxing。raner，ruguodeguolianbangzhengfuweinengjishipizhunzhengfukezhuanhuandaikuandedanbao，gongsiguanlicengkenengbudebucaiqujiduancuoshi，baokuodafuduxuejianchengben、suojianyewuguimo，shenzhikenengmianlinpochandefengxian。yihandeshi，zheizhongzuibuxiwangkandaodeqingkuangyijingchengweixianshi。youyulianbangzhengfudejujuedanbao，yuanbenyouwangchengweigongsi“shengmingxian”de1yiouyuandaikuanweinengdaowei。

zai10yue24ridegonggaozhong，liliumzhichu，gongsimuqiansuomianlindekunjing，zhuyaoguijiuyuquefazhengfucengmiandeyoulizhichi。yucitongshi，qijingzhengduishouzaibaokuomeiguo、faguo、zhongguo、baxiheyingguozaineideduogeguojiadouhuodelezizhuhedaikuan，erdeguodevolocopterheliliumqueweinengxiangshoudaotongdengdezhengfuzhichi。

duiyuchuangshirendaniel wieganderyan，tasuoyoudegankaizuizhongningjuweiyijuhua：ruguonenggouzhongxinxuanze，tabuhuixuanzezaideguochuangye。

对低空经济行业敲响警钟

dikongjingji，zheigegainianzhideshizai1000miyixiakongyunei，yituogeleizairenhuowurenhangkongqijinxingdedikongfeixingjixiangguanfuwuhejishusuogouchengdejingjitixi。

zheiyitixihangailewurenji、zhishengji、diandongchuizhiqijiangfeixingqi（evtol，jifeixingqiche）、reqiqiudengduozhonghangkongqi，bingzaiwuliu、nongye、huanbao、chengshijianshe、yingshizhizuo、yingjijiuyuandengduogelingyuyouzheguangfandeyingyong。biru，yichangshiyongwurenjijinxingdehangpaihunli、wurenjipeisongdewaimai、huoshiwurenjizainonglinzhibaozhongdedikongzuoye，doushidikongjingjideshengdongshili。

jinguanmuqianduiyudikongjingjihaimeiyouyigetongyidedingyi，dankeyikendingdeshi，zheiyilingyujulishixiandaguimoshangyehuahaiyouhenzhangdeluyaozou。zhijinhaimeiyounageguojianenggouwanquanshixianzheiyimubiao，zhenggexingyemuqianzhengchuyujishubuduangexinheshengjidejieduan。jianeryanzhi，zhenggechanyemuqianhaichuzaiyigexuyaodaliangzijintourudejieduan，zheiduicanyuzhederongzinenglishiyigejudadekaoyan。

liliumdeshibai，duiyudikongjingjilingyudecanyuzhelaishuo，wuyishiyigejingzhong。

zhongguodikongjingjilianmengdezhixinglishizhangluojuncengzhichu，evtoldefazhanxuyaoqiangdadejishuzhichiheshijiandejilei，youqishixuyaohuodeminhangbumendequanmianrenzheng，bingqiehaiyaojingshoushichangdekaoyan。

liliumdepochan，waibuyuanyinshimeiyoudedaozugoudedangdizhichi，neibuyuanyinzeshijishufangmiandebuzu。liru，liliumshiyongdexiaoxingguandaofengshanzaitigongshenglihetuilishi，nengyuanxiaolvjiaodi，suoxudegonglvdayueshishiyongjiaodaqingxiezhuanzideleisishejizhongliangdeliangbei。jianeryanzhi，jiushizaiqifeihejiangluojieduan，feixingqihuixiaohaodaliangnengyuan，yanzhongyingxiangdianchidexuhangnengli，xuhanglichengheceshishijianyedouxiangduiyouxian。2020nian，liliumdeyijiayuanxingjizaiweixiushiqihuo，zuizhongwufaxiufu，feixingceshiyincituichi，qiezhijinweigongbuqihuoyuanyin。zhijinweinengwanchengzairenfeixingceshi，yeshiyigewenti。

raner，yuliliumdepochanxingchengxianmingduibideshi，dikongjingjilingyudeqitaqiyequechengxianchubutongderongzizhuangtai。

yikongzhongchuzuchegongsijobyweili，jinguantongyangmianlinjuekuisun，qizai2024nianshangbanniandeyunyingkuisungaoda2.9yimeiyuan，jingkuisunwei2.18yimeiyuan，ershangniantongqidejingkuisunwei4yimeiyuan。yuliliumbutongdeshi，jobydedaoleqiangyoulidezhichi。bujiuqian，fengtianqichehejobyxuanbu，fengtianjiangewaitouzi5yimeiyuanyizhichijobydiandongkongzhongchuzuchederenzhengheshangyeshengchan，yishixianliangjiagongsidekongzhongjiaotongyuanjing。

zaiguonei，jinnian6yue，jiliqixiadewofeizhangkongxuanbuwanchengleshuyiyuandeblunrongzi，youceyuanzibenlingtou，zhongkechuangxing、huakongzibendengyuangudongjixuzhuitou，chuangxialejinliangnianguoneievtolxingyedanbirongzidezuigaojilu。8yue，dianchijutouningdeshidaiyetouzilefengfeihangkongshuyimeiyuan，jihuagongtongyanfaevtolhangkongdianchi。

zaiguoquwunianzhong，quanguodikongjingjichanyeqiyegonghuodele728cichuangtourongzi，gongkairongzijinedeshijianzhanbidadaole35.58%。

pochandepochan，rongziderongzi。“binghuoliangzhongtian”dedikongjingjizhengrangwanjiamenyishidao，zheisihubujinjinshiyigeyouqianjiunengwandeyouxi。

chengran，zhanzaifengkouxia，zhudounengqifei。danshi，“zhu”yeyoufeidaoyibanzhongzhongshuaixiadekeneng。

国家队，支持低空经济发展

dangqiandedikongjingjilingyuyudangniandexinnengyuanqichechanyepoweixiangsi，liangzhedoushixuyaojuezijintouruqieyinglimoshishangbumingquedexingye。

huiguguoqu，guoneidexinnengyuanqichezhizaoshangyulaizai2019nianzaoyuleyanzhongdecaiwuweiji，yidubinlinbengkui，shenzhiyoumeitijiangyulaichuangshirenlibinpingwei“2019nianzuibuxingderen”。

juzaoqibaodao，2020nianchu，yulaiqicheyinrongzikunnan，gujiazaimeigushichangyidudiezhi1meiyuandetuishijingjiexian，gongsimianlinyanjundeshengcuntiaozhan。

xingyundeshi，hefeishijishiduiyulaijinxingjiuzhu，youduojiahefeishiguoyouqiyezuchengdezhanlvetouzizhetuanduixiangyulaizhongguozhuzi112.6yiyuanrenminbi，huanquleyulaizhongguo24.1%degufen。deyiyuhefeishidezibenzhuru，yulaisuihoushixianleyejihegujiadeqiangjingfandan。

xiangbizhixia，liliumsihujiushineigemeiyoudedaoleisihefeishijiuyuandeyulai。

zai10yue24ridegonggaozhong，liliumzhichu，gongsimuqiankunjingdezhuyaoyuanyinshi“quefazhengfudeyoulizhichi”。

yuliliumdechujingbutong，suizheguoneiduidikongkongyuguanlizhengcedezhujianfangkuan，yijichanyelianderiquchengshu，guoneideqiyehuodelegengguangkuodefazhankongjian。

2024niande《zhengfugongzuobaogao》jiangdikongjingjidingweiweijingjizengzhangdexindongli，weidikongjingjidefazhanzhurulexinxin。yinci，2024nianbeishiweidikongjingjideqibuzhinian。zaizheiyinianzhong，zhengcedepinfanchutai、geleidikongfeixingqidejielianfabuyijiduodihangxiandekaitong，shidedikonglingyuchengxianchuyipaifanrongjingxiang。

zaizhengcedetuidongxia，dikongjingjiyichengweitouzizheyanzhongderemensaidao。qizhong，xiangyingzhengcehaozhaodedifangzhengfuyindaojijinchengweizheiyisaidaozhongzuihuoyuedetouzililiang。

jiezhimuqian，anhui、guangzhou、wuhan、beijingdengduogeshengshiyijingqidongledikongjingjichanyejijindesheli，jijinguimocong10yiyuandao200yiyuanbudeng，guiyang、wuhanhesuzhoudengdigengshiyijijinjiqundefangshisheliledikongjingjichanyejijin。

yiguangzhouweili，judiaocha，muqiangaishikaifaqu、huangpuquyijujile50duojiashejidikongjingjideqiye，fugailechanyeliandegegehuanjie，baokuoyanfasheji、yuancailiao、lingbujianzhizao、jicheng、yingyongyufuwudeng，nianchanzhi/yingshouguimoyuewei130yiyuan。ciwai，guangzhouhailvxiantuichule“dikong10tiao”chanyefuchizhengce，fabuledikongjingjiyingyongchangjingdedianxinganliheyingyongchangjingqingdan。

chuzaitouziquanderendoumingbai，guozilpdechuziwuyijiushifengxiangbiao。

zaiguozidajuyazhudikongjingjisaidaodeqiantixia，yijingyoudapitouzirenyekaishijiangmuguangfangdaolegaisaidaonei。jinnianyilai，zutuankandikongjingjixiangmudetouzirenyuelaiyueduo，guoquzhuanzhuyuyiliao、xiaofei、bandaotidengqitasaidaodetouzirenyejiangmuguangzhuanyidaoledikongjingjishang。

shouciyingxiang，jinnianyilaidikongjingjiderongzishijianxianzhuzengzhang，zai2024nianqian6yue，guoneidikongjingjilingyuyifashengrongzishijian26qi，qizhongchao70%tourongzixiangmutouxiangwurenjiqiye，baokuowurenjizhengji、xitongjilingbujianzhizaoshanggegehuanjie。

wolantehangkong、xiaopenghuitian、wofeizhangkong、fengfeihangkong、xingluozhineng、hongpenghangkong、tejinzhineng、shidekeji、zhuoyizhinengdengduojiaqiyedoushizaijinnianshoudaorongzidedikongjingjiqiye。

lingwai，jinnianwolantedea++++lunrongziyoubeijingjiqirenchanyejijinlingtou，jingguoruijijin、shouchengziben、yanchuangjituancanyutouzi。lingzhonglifeijigongsizaijinnianwanchengdejinyiyuanalunrongzizhong，hefeigaoxinquguoyouchuangtoujigouhefeigaotouzuoweilingtoufang，kedaguiguyindaojijin、guohuatouzi、yunshengziben、zifengzibengentou。zheixieanlidoushiyouzhengfuchanyetouzijijin、zhengfuyindaojijindezhudaodedikongjingjitouzishijian。youzhuanyetouzirenbiaoshi，dikongjingjiqiangdiaodeshizhenggedikongkongyukaifaheliyongsuodailaidezonghejingjixiaoyi，muqianduilingyuneichuangyeqiyelaishuoshinandedejiyu，zaiguojiazhengcedezhichixia，zheiyilingyuzhengchengweiredianfengkou，qiyingyongchangjingguangfan，shichangqianlida，jishuchuangxinbuduandengdengyoudian，weilairengjiangjuyouguangmingqianjing。

zongeryanzhi，duiyuguoneiwaidikongjingjiwanjiameneryan，douyinggaixiquliliumpochandejingyanjiaoxun，gengjiazhuzhongjishuchuangxinyushangyehualuodidejiehe。yijiagongsidedaoxia，huoxuchongmanlewunai，danyeweihoulaizhetigonglebaoguijingyan。zhongguodeevtolyaoxiangfeidegengyuan，neizaiqifeishijiuyaobaochilengjing。