Research on the Innovation of Financing Methods and Operation Mechanism of Low-Altitude Economy Enterprises

Abstract

As an important carrier of new-type productivity, the low-altitude economy generally faces financing difficulties such as “high R&D investment, lagging profitability, and few collateral assets.” Traditional bank lending, which focuses on fixed asset collateral and stable cash flow as its core evaluation logic, is inherently mismatched with the asset structure of low-altitude enterprises, which is mainly composed of intangible assets such as patents and flight data. This paper takes the “first national low-altitude economy ABS” and the first national dual “cross-border” intellectual property securitization project as core cases to systematically analyze the operation mechanism of two innovative financing methods: financial leasing ABS and intellectual property securitization. The study found that financial leasing ABS, through the transmission chain of “leasing receivables packaging - asset pool construction - structured stratification-exchange listing,” transforms the future cash flow of low-altitude equipment leasing into tradable standardized securities. The first product issued by Science City Leasing reached a scale of 584 million yuan, with a priority A1 tranche interest rate of only 1.9%. Intellectual property securitization, through the path of “patent pledge - credit enhancement-securities issuance,” transforms the most active intangible assets of enterprises into financing capabilities. Hailiang Technology successfully raised funds by pledging Hong Kong patents, with the funds being invested in low-altitude transportation projects. Both methods, empowered by digital technology, have enabled the discovery and transformation of asset value, providing a replicable path to solve the financing difficulties of “light-asset” enterprises in the low-altitude economy. This study provides a reference for low-altitude economy enterprises to broaden their financing channels and for financial institutions to innovate product supply.