China low-altitude-flying stocks fall after Beijing light aircraft crash

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Low-altitude-flying-economy-related stocks fell in mainland China on Monday, as investors reassessed safety and regulatory risks for the nascent sector after a light aircraft crashed into Beijing's tallest building last week.Zongsen Power Machinery SZSE:001696, which makes piston engines used in unmanned aerial vehicles, slid 8.6% by the midday break.Helicopter and airport-equipment names also came under pressure, with CITIC Offshore Helicopter SZSE:000099 down 3.3% and Gaungtai Airport Equipment SZSE:002111 falling 1.7%.Avic Chengdu Uas SSE:688297 and Chengdu JOUAV Automation Tech SSE:688070, both drone makers, lost 2.3% and 2.1%, respectively.A small aircraft flew into the CITIC Tower, also known as China Zun, in Beijing's Central Business District late on Friday, killing the sole pilot and injuring 13 people who were not on board.The aircraft was a small two-seat, single-engine light-sport Aurora SA60L made by China's Sunward, Flightradar24 data shows.Airspace above Beijing is heavily restricted, with civilian and recreational flights subject to strict regulation and prior approval.

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