Well, the legend is that it was invented by Kong Ming (Zhuge Liang).
Kongming lanterns are also called sky lanterns. According to legend, they were invented by Zhuge Kongming (Zhuge Liang) during the Three Kingdoms period. At that time, Zhuge Kongming was besieged by Sima Yi in Yangping and was unable to send troops out of the city to ask for help. Kong Ming accurately calculated the direction of the wind, made a floating paper lantern, and attached a message for help, and he escaped from danger, so later generations called this kind of lantern Kongming Lantern. Another theory is that the shape of this lantern is like the hat worn by Zhuge Kongming, hence its name.
Modern people often put up Kongming lanterns to pray for blessings. Men, women, old and young, hand-written blessing wishes, symbolizing a successful harvest and happiness every year.