On September 29, Guosen Securities research reports pointed out that Zhejiang Wanfeng Auto Wheel (002085.SZ) is a global leading general aviation aircraft manufacturer, opening up a new growth engine for low-altitude economy. The company's Diamond aircraft ranks among the top three in the world's general aviation aircraft industry, and is one of the very few private enterprises with the overall assembly capacity of general aviation aircraft. At the same time, Zhejiang Wanfeng Auto Wheel has built aviation towns and production bases in Xinchang and Laixi, with independent production and manufacturing capabilities. In the future, as the low-altitude economy develops, Diamond aircraft will continuously explore new application scenarios based on aviation school training and other markets, further matching and developing domestic private flying, short-haul transportation, special purpose, and other scenarios through a rich series of models, while increasing research and development of new types of aircraft such as electric aircraft and eVTOL to expand the low-altitude market. The company is valued at 28-33 times PE in 2025, corresponding to a reasonable valuation range of 14.44-17.03 yuan, first coverage, with a "outperform the market" rating.