EHang misses Q2 estimates and suspends 2026 revenue outlook

Joby Aviation reported that its autonomy-equipped converted Cessna Caravan completed the first-ever fully autonomous 3,199-mile flight across the United States, remotely supervised from up to 2,323 miles away while autonomously handling taxi, takeoff, routing, and landing and integrating into busy airports. The cross-country mission, part of Joby's 2026 Electric Skies tour, highlights how the company's mature autonomy stack could underpin future freight, medical, disaster-response, and defense logistics operations on already-certified airframes. The milestone does not directly change the near-term certification catalyst for piloted air taxis or the key risk around elevated cash use and potential dilution. The announcement most connected to the milestone is Joby's recent S-1 filing for up to US$750 million of new equity, which underscores the near-term financing question around supporting certification, manufacturing ramp, and a broader autonomy roadmap. Joby's narrative projects $718.3 million revenue and $44.9 million earnings by 2029, requiring 83.5% yearly revenue growth and a $923.1 million earnings increase from -$878.2 million today, while more cautious analysts assumed about 141.5% annual revenue growth to roughly US$319.0 million by 2029.

China has declared the low-altitude economy a national strategy under the concept of New Productive Forces. By 2026, cargo drones, agricultural drones, and flying taxis (eVTOL) will begin commercial services in several provinces, creating enormous economic value from the supply chain in airspace below 1,000 meters. Two standout case studies are EHang Holdings, the first Chinese company to receive a Type Certificate from the Civil Aviation Administration of China (CAAC) for commercial eVTOL, and Sichuan Jiuzhou, a state-owned enterprise that produces radar and ADS-B systems and controls air traffic infrastructure. Both companies have strong business moats in terms of regulation and national security. While the world is focused on the EV price war, a new battleground over China's skies has opened, and the winners will be those who secure licenses and infrastructure first.

Against the backdrop of crowded trading in A-share technology hot sectors and amplified short-term volatility, institutions recommend that investors shift their attention to three major sectors: the low-altitude economy, humanoid robots, and commercial aerospace, seizing pullback windows to position at lower levels. CICC believes that the intensive rollout of low-altitude economy policies is resonating with technological iteration across the industry chain, and expectations for an industry inflection point are gradually strengthening. Guoyuan Securities analyst Gong Siwen suggests focusing on whole-machine names such as Wanfeng Auto Wheel, EHang, JOUAV, and Lvneng Huichong, as well as core component names such as Zongshen Power, Wolong Electric Drive, Yingliu Shares, and Inpower. On the humanoid robot front, Unitree Robotics recently entered the capital market and is expected to provide a clearer valuation anchor for the sector, driving a shift in capital from pure thematic speculation to growth-based pricing. Huayuan Securities analyst Zhao Mengni suggests focusing on Everwin Precision, Foresight Technology, Sanhua Intelligent Controls, Tuopu Group, Leader Harmonious Drive, Shuanghuan Transmission, Hengli Hydraulic, Zhejiang Rongtai, Moons' Electric, and Zhaowei Machinery & Electronics. In commercial aerospace, the Long March 10B and Zhuque-3 have successively completed successful recoveries, and reusable rocket technology is maturing. With falling launch costs resonating with demand for low-orbit constellation networking, industrialization is expected to accelerate. Guotai Haitong Securities analyst Yang Tianhao suggests focusing on Chengchang Technology, Tongyu Communication, Sunway Communication, Shanghai Hanxun, Aerospace Electronics, Feiwo Technology, Sirui Advanced Materials, and Western Metal Materials.

Shares of Archer Aviation rose almost 14% after the electric air-taxi developer announced it would acquire Boeing's Wisk Aero, drone maker Insitu, and airspace-services supplier SkyGrid. The deal provides Archer with autonomous-flight technology from Wisk and a profitable revenue stream from Insitu, which generates more than $200 million annually. Boeing will own 19.75% of Archer's Class A shares prior to the close and will have the right to select a director. The agreement also expands Archer's presence in defense, surveillance, and logistics, where demand could materialize sooner than commercial air-taxi adoption.