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喺馬來西亞嘅 SUV 市場，好多揀車嘅買家都會用 Proton X70 同 MG MG HS 嚟做比較。這兩款車喺價位同定位上都好接近，今日我哋就從多個方面做一個詳細比較，幫你省翻做功課嘅時間。
Proton X70 喺馬來西亞嘅 OTR 售價係 RM 106,800 - 122,300，總共 3 個版本，包括 1.5L Standard 2WD（RM 106,800）、1.5L Executive 2WD（RM 115,800）、1.5L Premium 2WD（RM 122,300） 等。
MG MG HS 喺馬來西亞嘅 OTR 售價係 RM 130,450 - 146,450，總共 2 個版本，包括 1.5L Standard（RM 105,000）、1.5L Executive（RM 115,000） 等。
由價錢睇，Proton X70 嘅起步價確實比 MG MG HS 平咗 RM 23,650。如果你預算有限，Proton 嘅入門版已經滿足日常需要。但要小心，平嘅那幾千蚊，可能喺配備上有取捨，具體要睇你嘅需求。
Proton X70 裝載 1.5L Turbo，馬力 140 hp。官方油耗 7.0 L/100km。
MG MG HS 裝載 1.5L Turbo，馬力 140 hp。官方油耗 7.0 L/100km。
兩款車用緊同一套動力系統，日常開起嚟嘅感覺基本無分別。油耗方面亦都差不多，唔使太糾結呢一點。
Proton X70 嘅安全評級係 5★ (ASEAN NCAP)，主動安全系統包括 ADAS (ACC, AEB, LKA, LDA, BSM, RCTA)。
MG MG HS 嘅安全評級係 TBD，主動安全系統包括 Basic。
安全配備方面，兩款車都拿到唔錯嘅評級。不過 Proton X70 嘅 ADAS (ACC, AEB, LKA, LDA, BSM, RCTA) 同 MG MG HS 嘅 Basic 喺功能上有少少差異，如果你比較重視主動安全嘅話，可以仔細比較下兩者嘅功能列表。
Proton X70 保養 5 年/150,000km，保養間隔 每 10,000km 或 6 個月。
MG MG HS 保養 7 年/150,000km，保養間隔 每 10,000km 或 6 個月。
總體嚟講，Proton X70 同 MG MG HS 都係馬來西亞市場好唔錯嘅車型。揀邊一輛，關鍵仲係要睇你嘅個人需要同預算。建議大家做好功課，多比較幾間車行嘅報價，再去試駕先做最終決定。買車係件大事，花少少時間做功課絕對唔會錯。
喺馬來西亞嘅 SUV 市場，好多買家喺揀車嗰陣都會拎 Proton X50 同 Mazda CX-5 嚟做比較。呢兩款車喺價位同定位上都幾接近，今日我哋就從多個方面做一次詳細嘅比較，幫你節省做功課嘅時間。
Proton X50 喺馬來西亞嘅 OTR 售價係 RM 89,800 - 113,300，合共 4 個版本，包括 1.5T Executive（RM 89,800）、1.5T Premium（RM 101,800）、1.5T Flagship（RM 113,300） 等。
Mazda CX-5 喺馬來西亞嘅 OTR 售價係 RM 135,469 - 166,760，合共 3 個版本，包括 2025 2.0L AT 35th Anniversary（RM 316,154）、2025 2.0L AT（RM 296,154）、2025 2.0L MT（RM 294,154） 等。
從價錢嚟睇，Proton X50 嘅起步價的確比 Mazda CX-5 平咗 RM 45,669。如果你預算有限，Proton 嘅入門版已經可以滿足日常需求。但都要留意，平嗰幾千蚊，可能喺配備上會有取舍，具體要睇你嘅需求。
Proton X50 車身長 4400 mm，車尾箱 400 L。
Mazda CX-5 車身長 4500 mm，車尾箱 450 L。
空間方面，Mazda CX-5 嘅車身比 Proton X50 長咗 100 mm，乘坐空間更有優勢。不過 Proton X50 喺城市入面泊車會靈活啲，各有取舍。
Proton X50 採用 4WD 驅動方式。
Mazda CX-5 採用 FWD 驅動方式。
Proton 嘅 4WD 同 Mazda 嘅 FWD 喺操控上會有唔同感受，建議試駕比較。
Proton X50 同 Mazda CX-5 都係馬來西亞市場嘅主流選擇，適合家庭使用、日常通勤。如果你更睇重品牌口碑同二手價，可以優先考慮口碑更好嗰一款；如果你更在意性價比同配備，就選配置更豐富嗰款。最終都建議兩款都去試駕，親身體驗先至係最重要。
總括嚟講，Proton X50 同 Mazda CX-5 都係馬來西亞市場好唔錯嘅車型。揀邊輛，關鍵都要睇你嘅個人需求同預算。建議大家做好功課，多比較幾間車行嘅報價，先至去試駕做最終決定。買車係件大事，花少少時間做功課絕對唔會錯。
In the SUV market in Malaysia, many buyers will compare the Proton X50 and Toyota Yaris Cross when choosing a car. These two cars are quite close in price and positioning, so today we will make a detailed comparison from multiple aspects to help you save time on research.
The Proton X50 OTR selling price in Malaysia is RM 89,800 - 113,300, with a total of 4 versions, including 1.5T Executive (RM 89,800), 1.5T Premium (RM 101,800), 1.5T Flagship (RM 113,300), etc.
The Toyota Yaris Cross OTR selling price in Malaysia is RM 99,900 - 109,900, with a total of 2 versions, including 2026 1.5L Standard (RM 99,900), 2026 HEV 1.5L Standard (RM 109,900), etc.
From the price perspective, the Proton X50 starting price is indeed RM 10,100 cheaper than the Toyota Yaris Cross. If your budget is limited, Proton's entry-level version can already meet daily needs. However, be aware that the few thousand ringgit cheaper might involve compromises on features, depending on your specific needs.
The Proton X50 is equipped with a 1.5L 4-cyl engine, 105 hp. Official fuel consumption 6.0 L/100km.
The Toyota Yaris Cross is equipped with a 1.5L 4-cyl engine, 105 hp. Official fuel consumption 6.0 L/100km.
Both cars use the same powertrain system, and the driving feel daily is basically no difference. Fuel consumption is also about the same, no need to worry too much about this.
Proton X50 warranty 5 years/150,000km, maintenance interval every 10,000km or 6 months.
Toyota Yaris Cross warranty 5 years/unlimited mileage, maintenance interval every 10,000km or 6 months.
Both the Proton X50 and Toyota Yaris Cross are mainstream choices in the Malaysian market, suitable for family use and daily commuting. If you value brand reputation and resale price more, you can prioritize the one with better reputation; if you care more about cost-performance and features, then choose the model with richer configuration. In the end, it is recommended to test drive both, personal experience is the most important.
Overall, both the Proton X50 and Toyota Yaris Cross are very good models in the Malaysian market. Which one to choose depends mainly on your personal needs and budget. It is recommended that everyone do their homework, compare quotes from several dealerships, and then test drive to make the final decision. Buying a car is a major event, spending time doing research will definitely not be a mistake.
In Malaysia's SUV market, many buyers compare the Perodua Ativa and Honda HR-V when choosing a car. These two models are quite close in price and positioning. Today, we will make a detailed comparison from multiple aspects to help you save time on research.
The Perodua Ativa's OTR price in Malaysia is RM 62,500 - 73,400, with a total of 3 variants, including 1.0L Turbo X (RM 62,500), 1.0L Turbo H (RM 67,300), 1.0L Turbo AV (RM 73,400), etc.
The Honda HR-V's OTR price in Malaysia is RM 115,900 - 143,900, with a total of 4 variants, including 2026 e:HEV 1.5L RS (RM 143,900), 2026 1.5T V (RM 137,900), 2026 1.5T E (RM 130,900), etc.
From a price perspective, the Perodua Ativa's starting price is indeed RM 53,400 cheaper than the Honda HR-V. If your budget is limited, Perodua's entry-level version can already meet daily needs. However, also note that the savings of a few thousand ringgit might involve trade-offs in features, depending on your needs.
Perodua Ativa is equipped with a 1.5L 4-cyl, 105 hp. Official fuel consumption 6.0 L/100km.
Honda HR-V is equipped with a 1.5L Turbo, 140 hp. Official fuel consumption 7.0 L/100km.
In terms of power, the Honda HR-V's 1.5L Turbo has 35 hp more than the Perodua Ativa's 1.5L 4-cyl. However, for daily city driving, both cars have enough power, and you won't feel like they are underpowered.
Perodua Ativa body length 4400 mm, trunk 400 L.
Honda HR-V body length 4500 mm, trunk 450 L.
In terms of space, the Honda HR-V's body is 100 mm longer than the Perodua Ativa, offering better seating space. However, the Perodua Ativa is slightly more flexible for parking in the city, each having its trade-offs.
Perodua Ativa warranty 5 years/150,000km, maintenance interval every 10,000km or 6 months.
Honda HR-V warranty 5 years/unlimited mileage, maintenance interval every 10,000km or 6 months.
In general, both the Perodua Ativa and Honda HR-V are very good models in the Malaysian market. Choosing which one depends mainly on your personal needs and budget. We recommend doing your research, comparing quotes from several dealerships, and then test driving before making a final decision. Buying a car is a significant decision, spending time on research will never be wrong.
喺馬來西亞嘅 SUV 市場，好多買家喺揀車嗰陣都會拿 Chery Tiggo 9 同 GWM Haval H6 做比較。呢兩款車喺價位同定位上都幾接近，今日我哋就由多個方面做詳細比較，幫你省做功課時間。
Chery Tiggo 9 喺馬來西亞嘅 OTR 售價係 RM 166,800 - 179,800，一總共有 1 個版本，包括 2026 2.0T Standard（RM 179,750） 等。
GWM Haval H6 喺馬來西亞嘅 OTR 售價係 RM 139,750 - 139,750，一總共有 2 個版本，包括 1.5L Turbo Standard（RM 140,000）、1.5L Turbo Premium（RM 155,000） 等。
由價錢睇，GWM Haval H6 嘅起步價比 Chery Tiggo 9 平咗 RM 27,050。老實講，喺呢個價位段，幾千蚊嘅差距其實唔算大，關鍵仲係睇整體嘅性價比同長期使用成本。
Chery Tiggo 9 搭載 2.0L 4-cyl，馬力 170 hp。官方油耗 8.0 L/100km。
GWM Haval H6 搭載 Hybrid，馬力 170 hp。官方油耗 4.5 L/100km。
動力方面，GWM Haval H6 嘅 Hybrid 比 Chery Tiggo 9 嘅 2.0L 4-cyl 多咗 0 匹馬力。不過日常喺市區開，兩款車嘅動力都夠用，唔會覺得唔夠力。
Chery Tiggo 9 嘅安全評級係 TBD，主動安全系統包括 Basic。
GWM Haval H6 嘅安全評級係 TBD，主動安全系統包括 Basic。
兩款車嘅安全評級一樣，喺呢個級別入面安全配備都算給得好齊全。而家嘅新車安全性都唔差，唔使太擔心這一點。
Chery Tiggo 9 車身長 4400 mm，後備箱 400 L。
GWM Haval H6 車身長 4400 mm，後備箱 400 L。
兩款車嘅尺寸幾乎一樣，車內空間差別唔大。呢個級別嘅車，日常使用完全夠用。
Chery Tiggo 9 保固 3 年/100,000km，保養間隔 每 10,000km 或 6 個月。
GWM Haval H6 保固 7 年/150,000km，保養間隔 每 10,000km 或 6 個月。
總嚟講，Chery Tiggo 9 同 GWM Haval H6 都係馬來西亞市場幾唔錯嘅車款。揀邊一輛，關鍵仲係睇你嘅個人需求同預算。建議大家做好功課，多比較幾間車行嘅報價，再去試駕做最終決定。買車係件大事，花少少時間做功課絕對唔會錯。
車型概覽
吉利星瑞 值唔值得睇，第一步唔係望牌子或者外形，而係睇佢能唔能夠配合你嘅香港日常。 呢篇會集中講售價未落實前點樣先篩選，幫你用買家角度篩走唔適合嘅選擇。
售價仍待確認，買家可以先把佢放入候選名單，等價格落實後再同同級車逐項比較。
購車價格指南
吉利星瑞 目前售價仍未清晰，較理性嘅做法係先睇版本、車身大小同動力形式，等價格落實後再決定值唔值得落訂。
如果有幾個版本可揀，可以先將 2025 1.5T 雙離合版（價格待確認）、2025 2.0T 自動版（價格待確認）、2026 1.5T 雙離合版（價格待確認）、2026 2.0T 自動版（價格待確認） 放喺同一張清單。日常通勤重視舒適同易用，家庭買家就要優先睇後排、尾箱同安全配置。
核心規格重點
睇 吉利星瑞 嘅規格，重點唔係背數字，而係理解佢喺香港用車場景會帶嚟咩分別。
渦輪增壓、4 個 汽缸、1499/1969 mL 排量 嘅動力底子，重點係市區跟車夠唔夠順、高速巡航會唔會吃力。 181 Ps / 133 kW / 238 Ps / 175 kW、290/350/400 N·m 嘅輸出，對滿載、上斜同超車都比單睇馬力數字更有意思。 車長 4785/4825 mm、車闊 1869 mm、車高 1469 mm、軸距 2800 mm 可以幫你預判商場停車場、屋苑車位同後排腿部空間。 濕式雙離合(DCT) / 手自一體(AT)、前置前駆 會影響起步順滑度、濕地穩定感同長途巡航性格。
優缺點分析
吉利星瑞 嘅優點唔需要講到天花龍鳳，真正有價值係佢能唔能夠令日常用車更省心：動力輸出對高速同上斜更有底氣、空間同車身尺寸方便家庭買家預判實用性。
要留意嘅係，香港停車場同窄路使用要留意車身闊度、售價未清晰前唔應該太早用性價比落結論。呢啲唔一定係缺點，但係落訂前應該先諗清楚。
買家常見問題
買 吉利星瑞 之前，真正要問嘅唔係單一規格，而係佢可唔可以融入你每日嘅生活節奏。
常見疑問係「吉利星瑞於香港的落地價大約係幾多？」簡單講，吉利星瑞於香港的落地價大約介乎 240,000–280,000 港元，視乎配置而定。 放到實際用車，就係要睇佢對通勤、泊車、家庭乘坐同長期成本有幾大幫助。
同級對比內容
將 吉利星瑞 放入同級車清單時，唔建議只用外形或者品牌光環決定。比較順序可以係：先等售價落實，再決定佢應該同邊個級距比較、再睇動力係咪足夠應付高速併線同滿載、最後睇車身大小、座位同尾箱是否適合家人。
咁樣篩選會貼近香港買家真實生活：平日塞車、商場泊車、周末去新界、甚至一家人出入，先係一部車每日要面對嘅考驗。
用車全周期指南
擁有 吉利星瑞 唔係買車一刻就完結，之後仲有保險、輪胎、保養、泊車同日常能源成本要處理。
如果你主要喺市區行，視野、低速順滑度同泊車輔助會好影響心情；如果經常行高速或跨區，座椅舒適度、隔音同動力從容感會更重要。
5 月 28 日，上汽集團迎來全球第一億輛整車交付，成為我國首家累計產銷量突破一億輛嘅汽車集團。其中，上汽通用五菱累計貢獻超 3200 萬輛。當日，上汽通用五菱全球車 EKSION 喺印尼雅加達向首批用戶交付。
【上汽集團第 100,000,003 台整車喺印尼雅加達交付】
“人民需要乜嘢，五菱就造乜嘢。”上汽通用五菱精準洞察市場，用爆款產品響應用戶需求。五菱宏光以“宜商宜家、皮實耐用”嘅全能特性，成為眾多創業者同家庭嘅首選車型。隨著居民消費逐漸向品質生活升級，寶駿 730 以靈活空間同高性價比，打破咗合資品牌對家用多用途汽車（MPV）市場嘅壟斷。2020 年，喺中國汽車產業新能源轉型嘅窗口期，推出嘅宏光 MINIEV，成為國內新能源代步車領域嘅先行者之一。今年 5 月，上汽通用五菱同華為乾崑攜手打造嘅首款科技旗艦大六座 SUV——華境 S 正式上市，以跨界協同嘅創新實踐，打破高端智駕嘅技術溢價壁壘。
【搭載華為乾崑科技旗艦大六座華境 S】
上汽通用五菱加快新能源同智能化佈局，喺推進產品電智化升級嘅同時，喺全球市場嘅佈局亦行深行實。目前，上汽通用五菱海外累計銷量已突破 150 萬輛，業務覆蓋超全球 110 個國家同地區。
公司構建咗涵蓋智造體系、產品矩陣、產業生態嘅全維度核心競爭力。其一，全球首創智能島製造體系，以“車揾工位、料揾車”嘅柔性智造模式，實現效率、品質同成本嘅全維突破；其二，適配全球市場嘅多元化產品矩陣，EKSION（星光 560）、DARION（星光 730）、BINGO（五菱繽果）、BINGO S（繽果 S）等多款車型先後登陸海外，涵蓋 SUV、MPV、轎車等主要品類，滿足唔同國家、唔同消費群體嘅差異化出行需求；其三，獨有嘅“搬鏈出海”全球化模式，透過製造鏈、供應鏈、銷售鏈、金融鏈、人才鏈嘅五鏈深度協同，打破咗傳統產品貿易嘅單一出海途徑，推動中國智造體系與標準走向全球。
【全球首創智能島製造體系（I²MS）】
此次喺印尼交付嘅全球車 EKSION，係五菱全球化戰略深入推進嘅最新注腳。依托印尼呢個核心支點，上汽通用五菱持續深化“印馬泰一體化”區域戰略，將新能源產品同本地化供應鏈體系全面涵蓋馬來西亞、泰國，並逐步輻射越南、菲律賓等東盟國家，形成區域協同、聯動發展嘅全球化格局。
Folks, today let's talk about big news on going global—not selling cars, but selling "drivers". On June 2, WeRide and Uber jointly announced a plan: to launch the country's first commercial Robotaxi pilot service in Madrid, Spain. In other words: Spanish residents will soon be able to hail a driverless taxi via Uber. This is the first time WeRide and Uber are partnering to enter the European market. Madrid also becomes the 12th city globally where WeRide's Robotaxi arrives.
According to official news, with the support of the Madrid regional government, this service will officially launch within this year. At that time, friends in Madrid can open the Uber App and call WeRide's Robotaxi with one click. It's just like calling an ordinary ride-hailing service, the difference is the arriving car has no driver—at least initially, there is still a difference. In the initial operation phase, a professionally trained safety monitor will be on board, as it's just launched, safety comes first.
This company, WeRide, you might have heard of it, or you might not. A brief introduction: Established in 2017, it has been dedicated to Robotaxi technology R&D and commercialization. Currently, its Robotaxis cover Guangzhou, Beijing, Singapore, Abu Dhabi, Dubai, Riyadh, Zurich... plus Madrid now, totaling 12 cities. Spain is also the 5th European market WeRide has entered—previously entered Switzerland, France, Belgium, Slovakia. According to the plan agreed by WeRide and Uber in May 2025, they plan to deploy Robotaxi services in 15 new international cities within five years, deploying tens of thousands of Robotaxis globally. With the Madrid launch, the deployment in 4 cities has been completed, and 11 more will be covered successively before 2030.
To be honest, it's not the first time Chinese autonomous driving companies are going global, but the combination of Chinese technology + global mobility platform + European market is quite interesting. Madrid is one of the European Robotaxi markets with the most commercial potential, with a large population, high travel demand, and friendly local policies. Being able to take root in this market is a significant milestone for WeRide. For Uber, introducing Robotaxis is also a way to reduce costs—after all, drivers don't need salaries. For Madrid residents, hailing a taxi might be cheaper in the future.
On May 28, 2026, SAIC Group held the "World's First 100 Millionth User Delivery Ceremony" at the World Living Room of Shanghai North Bund, becoming the first automotive group in the history of China's automotive industry to exceed 100 million cumulative production and sales. Previously, only the United States, Japan, Germany, South Korea, etc. had "100-million-level automakers." SAIC's breakthrough marks a new historical step for China's automotive industry.
Over 70 Years, From Hand-Built to Leading
SAIC's starting point was the Shanghai Internal Combustion Engine Parts Manufacturing Company, established in 1955. In 1958, workers hammered out the first "Phoenix" sedan in an alley factory, achieving the "zero breakthrough" for Shanghai's sedan manufacturing.
Subsequent key milestones: The first Santana rolled off the line in 1983,开启 a new era of joint cooperation; Shanghai GM was established in 1997, creating the "Shanghai Speed" of 23 months from factory construction to vehicle launch; In 2006, the independent brand Roewe was born; In 2016, the world's first Internet car Roewe RX5 was launched; In 2020, the high-end smart electric brand IM Motors was established. Over 70 years, SAIC has experienced and driven the entire process of China's automotive industry from nothing to something, from weak to strong.
IM LS9 Hyper, SAIC's Culmination of Technology
The 100 millionth vehicle delivery model is IM LS9 Hyper, known as the culmination of SAIC's technical strength. It is equipped with three major core technologies:
Full Steer-by-Wire Four-Wheel Steering: The first fully steer-by-wire steering technology in China verified by the China Automotive Technology and Research Center, pre-installed with redundancy capabilities for L3 and higher-level intelligent driving.
Maximized Intelligent Driving Hardware: 520-line super-vision LiDAR + NVIDIA Thor chip, paired with Momenta end-to-end reinforcement learning large model.
Three-Electric Systems: Global 800V high-voltage platform + Star Super Range Extender, with comprehensive range exceeding 1400 km; First equipped with SAIC Golden Label Hurricane Three-Motor, joining the "3-Second Club".
It is worth mentioning that IM LS9 Hyper launched the "Endogenous Security" technology jointly with Purple Mountain Labs globally, expanding the automotive safety boundary from physical security to information and system security.
The 100 millionth user is Cao Xudong, CEO of Momenta — SAIC's core strategic partner in the intelligent driving field. "Partner becomes owner" is a microcosm of deep technological co-creation.
January to April Sales 1.302 Million Vehicles, Four Consecutive Months Champion
The foundation of 100 million vehicles is solid market performance. From January to April 2026, SAIC Group cumulatively sold 1.302 million vehicles, ranking first among Chinese automakers for four consecutive months. Among them, independent brand sales were 910,000, accounting for nearly 70%; New energy vehicle sales were 412,000; Overseas market sales were 459,000, a year-on-year surge of 50.2%.
Regarding R&D investment, in the past decade, SAIC has cumulatively invested over 150 billion yuan in new energy and intelligent connected fields, forming nearly 26,000 valid patents. In 2014, the sales proportion of SAIC new energy vehicles was less than 0.1%, while in 2025, this proportion exceeded one-third.
Global Layout, Products Spanning Over 170 Countries and Regions
SAIC is a pioneer in China's automotive industry "going global." Currently, it has over 100 parts production bases and over 3,000 dealer networks overseas, with 3 major R&D innovation centers including London, and 4 production centers in Thailand, Indonesia, India, and Pakistan. SAIC Logistics owns 42 roll-on/roll-off ships, with 8 international routes covering Southeast Asia, Europe, and the Americas.
As of now, SAIC's products and services cover over 170 countries and regions, with cumulative overseas sales exceeding 7 million units. MG has won the champion of European sales for Chinese brands for 11 consecutive years; in 2025, European annual sales exceeded 300,000, becoming the first Chinese automotive brand to accumulate over one million sales in Europe and the UK.
In 2025, SAIC released the overseas "Glocal Strategy" (Global + Local), accelerating the shift from "Product Going Global" to "Value Chain Going Global".
Final Thoughts
100 million vehicles is not the end point, but a new starting line for SAIC to "start a second entrepreneurship" towards the future of smart electricity. From 1955 to 2026, from the first user to the 100 millionth user, from "hand-built" manufacturing to global technology leadership, SAIC's development history is itself a condensed history of the rise of China's automotive industry. SAIC has already proved the depth and resilience of China's automotive industry with 100 million vehicles. Who will be the next 100-million-level automaker?
On the first day of the 2026 Chongqing Auto Show, Changan Mazda brought a factory-stock unmodified pure electric EZ-60 to the forefront. Not here to parade, but to show off its track record. Champion driver Ji Hao, who is also an ordinary Changan Mazda owner, stood on the exhibition platform and shared his experience of driving the mass-production EZ-60 to fight in the China New Energy Vehicle Rally Championship: a 6-day 910km course, 27 brands with 100 participating vehicles. Facing competition from most extended-range and plug-in hybrid models, this factory-stock pure electric SUV won the SUV category champion in the circuit race and the runner-up in the overall rally results.
The significance of this championship does not lie in the ranking itself, but in that it was run with a mass-production vehicle, with no modifications, no special tuning. The result directly corresponds to every ordinary user who bought an EZ-60.
Both the EZ-6 and EZ-60 models were developed according to global standards from the very beginning of the project. EZ-6 won the 2026 World Car of the Year Design award, being the first Chinese new energy model to receive this honor; EZ-60 simultaneously won 8 world-class top design awards, currently the only one in the SUV category. Design awards themselves cannot directly equate to product power, but it shows Mazda's design remains captivating, and it is top-tier under international aesthetic standards.
In the safety field, EZ-6 has passed 5 authoritative safety certifications such as C-NCAP, E-NCAP, with China-Europe dual five-star standards as its clear development baseline. EZ-60's battery safety meets new national standards and European standards requirements in advance. Furthermore, Changan Mazda offers a Battery Lifetime Spontaneous Combustion Compensation promise to all new energy users under its brand, with unlimited mileage and unlimited owners. This means after used car transactions, new owners also enjoy this benefit, which has a positive impact on resale value and second-hand circulation.
Progress in going global is one of the key information disclosed by Changan Mazda at this auto show. Currently, the brand has obtained whole vehicle certification for the EU, UK, and Australian three major markets, being the first domestic joint venture new energy automotive enterprise to secure all three certifications simultaneously. At the end of May, over 80 overseas dealers from Europe, Australia, and Thailand specially visited the Nanjing Factory for inspection, giving extremely high praise to the production process and quality control system. The EZ-6 and EZ-60 models are currently in a continuously advancing stage for overseas sales and pre-sales.
At the same time, EZ-60 has held the sales champion title for joint venture new energy mid-size SUVs continuously for 7 months in the domestic market. Although the scale of this niche track is not large, it shows that the product acceptance among the target user group is very stable.
Changan Mazda continues its consistent community strategy, with activities like Wish Journey, Owner Story Collection, Joy Mazda Creator, and Citizen Agent continuing to advance, aiming to establish a longer-term user emotional connection beyond the product. The Young Sprouts Plan Season 2 launched this May entered universities nationwide and simultaneously opened the EZ-60 University Modification Design Competition, opening summer practice slots to students. Since 2015, Changan Mazda has cumulatively donated and built 12 Hope Primary Schools in Yunnan, with a total investment exceeding 10 million yuan. In June, it initiated the Every Kilometer Has Kindness charity action again, converting user travel mileage into charity funds.
Worth mentioning is that at this auto show, Mazda also brought the MX-5, this classic convertible sports car that has existed for decades with multiple iterations but is still on sale. It appeared in an auto show themed on new energy, in a sense declaring to the outside world that Mazda's product logic has never been to follow the trend; it has the courage to embrace China's new energy, and also the persistence on classic fuel cars. Leveraging this Chongqing International Auto Show moment, Changan Mazda simultaneously launched the 618 Mid-Year Promotion. Until June 30, consumers purchasing vehicles can enjoy up to 20,000 yuan National Trade-in Subsidy, combined with 17,000 yuan Manufacturer Subsidy Replacement Subsidy. Purchasing designated models also gifts a worth 7,999 yuan Exclusive Set (containing original factory charging pile, LLumar solar film, TPE floor mats, and trunk mats), and offers a 0 down payment, 5-year low-interest plan, with an annualized rate of 1.99%. Additionally, it gifts a worth 7,999 yuan Lifetime Zero Fuel Benefit, and the test drive gold foil giveaway event is still continuing.
6 月 9 日深圳坪山總部，比亞迪召開咗 2025 年度股東大會，近千名股東同股東代表到場參會，創下公司歷屆股東會現場參會人數新高。會上，比亞迪董事長王傳福等高管團隊，針對銷量、產能、智能化進展、海外佈局以及股價爭議等多個問題，進一步回應咗股東關注。
1、關於銷量波動
當中，針對今年第一季因新能源購置稅政策調整導致嘅銷量週期性波動，王傳福表示：「最壞嘅時刻已經過去咗。」
作為一家只專做新能源車，唔做燃油車嘅中國汽車企業，數據顯示，今年第一季，比亞迪總銷量約為 70 萬輛，同比下滑 30.01%。受銷量下滑影響，比亞迪第一季營收同淨利潤亦都有所下滑，當中歸母淨利潤同比下降咗 55.38%。
留神，儘管政策調整帶來咗較大嘅衝擊，但今年第一季嘅總體下滑並非係比亞迪內生動力不足，更加係嚟自外部環境嘅影響。而隨著新能源滲透率嘅逐步提升，以及第二代刀片電池同閃充技術嘅逐步切換，比亞迪已經逐漸回歸到正向增長嘅狀態。
今年 3 月份，比亞迪發佈咗第二代刀片電池同閃充技術。作為比亞迪收官電動化上半場嘅重磅技術，兩項技術直指電動車用戶最核心嘅補能焦慮，發佈後迅速收獲國內外市場嘅肯定，訂單隨之激增。經過 3、4 月份嘅積極調整，5 月份，比亞迪嘅銷量已經回歸正增長。
2、關於第二代刀片電池產能提升
當然，目前第二代刀片電池仲面臨住產能瓶頸嘅挑戰，由於第二代刀片電池嘅生產線內部結構同第一代差異巨大，需要對原有生產線進行改造同升級，產能爬坡需要一定週期。針對目前第二代刀片電池嘅「供不應求」，王傳福亦喺此次股東大會上正面回應，目前第二代刀片電池產能正逐月爬升，每月有 2 萬至 3 萬輛嘅增量。
「今年比亞迪能賣幾多車，唔視乎訂單，而視乎電池產量。」王傳福表示，更大嘅產能釋放將喺 2027 年，屆時國內國際兩個市場將同時發力。
3、關於海外市场增長
尤其係值得關注嘅係，喺比亞迪今年嘅銷量結構中，作為第二增長曲線，比亞迪海外市场嘅增長動力正喺逐步兌現。2025 年，比亞迪累計海外銷量超過咗百萬輛。今年 1-5 月，比亞迪乘用車以及皮卡嘅海外銷量已經達到 61.45 萬輛，海外銷量不斷創下新記錄。
基於呢一勢頭，王傳福亦明確表示，今年，比亞迪有望超額完成 160 萬輛嘅海外銷量目標。而對於海外市场嘅發展，王傳福亦明確強調，比亞迪嘅出口唔單止要追求增長，更要堅持本地化嘅原則，保持長期穩定，同當地雙贏。
王傳福仲喺股東大會上一一梳理咗全球產能版圖：南美以巴西為主要生產基地；歐洲匈牙利工廠 2026 年已經進入投產期；東南亞泰國工廠已投產，印尼工廠即將量產。中東市場需求強勁，澳洲市場穩定增長。比亞迪計劃喺 2026 年第四季度喺海外全面佈局閃充站，並喺各核心市場完成智駕研發同技術佈局。
4、關於智能化下半場佈局
支撐比亞迪國內、海外全面開花嘅，最核心嘅關鍵詞都係「技術」。
繼今年 3 月份發佈咗第二代刀片電池同閃充技術之後，5 月份，比亞迪仲召開咗智能化戰略發布會，正式提出以零交通事故、超級司機以及超級秘書為智能化下半場嘅三大目標，開啟咗全民城市領航時代，並發佈咗中國首款 4nm 智駕晶片璇玑 A3、L3/L4 技術，迪迪蝦智能體等多項重磅科技。
發布會上，王傳福宣布，比亞迪將持續投入超 1000 億元研發資金，來解決交通安全問題。而喺此次股東大會上，王傳福判斷，按照當前 AI 技術發展速度，L3、L4 自動駕駛一定會提前落地。針對 L3 嘅落地關切，王傳福亦回應道，比亞迪已經喺晶片、算力、數據、生態各個維度做好咗充足準備，一旦法規落地，比亞迪將快速騰飛。
5、關於品牌高端化嘅挑戰
比亞迪嘅品牌高端化一直以來都係外界最為關心嘅話題之一。喺此次股東大會上，關於股東關注嘅高端化轉型，王傳福嘅回應亦都幾直白。
佢認為，汽車係涉及生命安全嘅交通工具，唔能只靠「花花綠綠嘅流量」，高端化嘅競爭最終要回到技術同產品嘅本源，建立用戶信任。為此，佢提出咗「三不原則」：絕不拉踩友商、絕不抱怨外部環境、絕唔為短期利益犧牲技術投入。
王傳福亦透露道，明後年比亞迪會推出一批更驚艷嘅新技術，來贏得中高端市場嘅口碑。目前，比亞迪嘅高端化喺海外市場已經取得咗相應進展。
6、關於原材料成本上漲
由於原材料成本上漲，近段時間以來，國內車市已有好多車企紛紛調高咗終端售價，比亞迪亦都係其中之一。針對本輪漲價，比亞迪董秘李黔給出比亞迪嘅四大應對策略：
倚靠技術創新持續創造成本優勢；
加快產品結構高端化，以更高每車盈利稀釋材料成本；
推進海外市场擴張，海外每車盈利顯著優於國內；
倚靠規模優勢持續走量，攤薄固定成本。
7、關於股價被低估
股價同估值嘅爭議始終困擾住比亞迪。2025 年財報顯示，比亞迪營收超 8000 億元、歸母淨利潤 326 億元，新能源汽車毛利率 28.8%遠超特斯拉同期嘅 17.8%，但市盈率長期低於行業平均水準，港股市值僅約為特斯拉嘅 1/14。
面對「高銷量、低估值」嘅質疑，王傳福表示，「比亞迪嘅潛力大家都好認同，但而家股價仲未能夠反映出來」，對此，王傳福都希望股東保持耐心、做價值投資。
8、關於未來五年嘅目標
印象入面，比亞迪好少喺公開場合談及銷量目標，但喺此次股東大會上，王傳福做出咗堅定而清晰嘅承諾：「五年以後，比亞迪喺規模上，能夠做到真正嘅全球第一。」對於具體嘅銷量目標，王傳福表示，2030 年比亞迪將力爭實現年產銷量 1000 萬輛。
為咗實現呢一目標，國內以及海外市场嘅雙輪驅動，第二代刀片電池同閃充技術，以及明後年推出嘅更多驚艷技術，海外工廠產能嘅爬升，高端化嘅逐步突破，都將係比亞迪衝擊呢一長期目標嘅信心來源。
In May, China's automotive market overall presented a gentle recovery trend, with domestic brands still being the sales backbone of the market. Recently, BYD, Geely, Chery, Changan, and Great Wall, the top 5 domestic automakers, successively released their monthly performance reports. From the data, these five companies show a general characteristic of "stable total growth, divergence between domestic and international markets, and accelerated new energy penetration". Overseas exports and new energy vehicles have become the most core growth engines; export business has evolved from a "bonus item" to the "core foundation" for some companies. BYD's "dominant leader" status is further consolidated, Chery achieved high growth via exports, Geely's new energy penetration rate broke 56%, Changan focused steadily on balanced development, while Great Wall appeared slightly under pressure during structural transformation.
BYD: Export Hits New High Becomes Biggest HighlightIn May, BYD stood firmly at the top of domestic brands with a monthly sales volume of 383,500 vehicles, maintaining positive growth both year-on-year and month-over-month under a large base. Its two main brands, Dynasty and Ocean, sold a combined 330,200 vehicles, contributing 86.1% of total sales; Fangchengbao's monthly sales broke 30,000 units to reach 30,200, a year-on-year increase of 139.7%, setting a new high for the year; Denza sold 16,300 vehicles, and Yangwang delivered 286 vehicles. From a model perspective, BYD had eight models in May with monthly sales exceeding 20,000 vehicles. The Song Family and Yuan Family both broke 50,000 units, selling 51,370 and 56,691 vehicles respectively. The Sea Lion Family followed closely with 42,615 vehicles, and Seagull sales were also close to 40,000 vehicles.
BYD's biggest highlight in May was exports. Overseas new energy vehicle sales reached 160,600 units, an 80.4% year-on-year increase, accounting for about 42%. The sharp expansion of export scale effectively countered the phased weakness in domestic demand. Cumulative exports from January to May exceeded 620,000 vehicles. High export growth mainly benefited from continued ramping up of overseas factory capacity, improved ocean shipping capacity, and accelerated channel network expansion. In the domestic market, BYD promoted Megawatt Super Charging and intelligent strategies simultaneously—Megawatt charging achieved about 90% charge in 9 minutes; 20,000 super charging stations are planned to be built by 2026; all series models are available with Sky Eye B intelligent driving solutions and city navigation safety fallback plans, accelerating the popularization of high-level intelligent driving. As Gen 2 Blade Battery capacity gradually releases, the company's orders are expected to continue rising.
Chery: Sales Growth Leads the Top 5Chery Group's total sales volume in May was 247,800 vehicles, a significant year-on-year increase of 20.5%, ranking first in growth speed among the top 5. Exports remained its most core growth engine—May exports reached 181,900 vehicles, an 80.5% year-on-year increase, accounting for 73.4% of total sales that month, continuously breaking the single-month export record for Chinese brands for three months. In terms of new energy, Chery New Energy sold 100,300 vehicles, a 58.8% year-on-year increase. April and May consecutively saw monthly new energy sales breaking 100,000 vehicles.
The strong performance in exports benefited from Chery's long-term deep cultivation of overseas channel advantages and localized operation capabilities. While overseas orders continued to rise, high export growth formed a sharp contrast with domestic sales—Chery's domestic sales in May were only 60,000 vehicles, accounting for one-quarter of total sales. From cumulative data, Chery Group accumulated 1.101 million sales from January to May, but against the annual goal of 3.2 million vehicles, monthly averages need to reach about 420,000 vehicles later, and pressure remains significant.
Geely: New Energy Penetration Rate Breaks 56%Geely Auto's total sales volume in May was 237,600 vehicles, a 1% year-on-year increase, achieving month-over-month double growth for three consecutive months. In terms of structure, Geely's "New Four Transformations" transformation showed significant results: new energy vehicle sales reached 133,400 units, accounting for 56% of total sales, with new energy share exceeding 50% for four consecutive months.
From sub-brands, performance was significantly divergent. Zeekr brand sales in May reached 34,400 vehicles, a 82% year-on-year increase; Zeekr 9 Series and 8 Series models combined sales approached 50% of total sales, showing bright performance in the high-end market; Galaxy brand sales were 81,700 vehicles; Geely brand sales were 182,500 vehicles, among which China Star Series sales reached 100,800 vehicles; Lynk & Co brand sales were 20,700 vehicles, with new energy vehicle sales share rising to 71%.
In terms of exports, Geely's overseas vehicle exports in May reached 85,100 vehicles, a explosive 184% year-on-year increase, setting a brand single-month export record high. Among exported products, new energy vehicles reached 40,800 units, accounting for nearly half; hybrid and pure electric products have successively landed in Southeast Asia, Middle East, Latin America, and other markets, highlighting the results of global strategy implementation.
Changan: Multi-brand Matrix Balanced EffortChangan Auto's delivery volume in May was 209,100 vehicles, among which new energy deliveries were 92,400 vehicles, a 5.8% year-on-year increase, with new energy share about 44%. In terms of exports, overseas deliveries reached 70,700 vehicles, a 38% year-on-year increase, becoming another major growth highlight for Changan in May.
In the sub-brand matrix, Changan Qiyuan delivered 34,500 vehicles in May; All-New Q05 delivered 15,800 units, with orders breaking 3,000 units within three days of listing in Thailand; Deepal sales in May were 33,200 vehicles, a 30% year-on-year increase; January to May overseas cumulative sales were 28,700 vehicles, a significant 167% year-on-year increase; Avatr delivered 7,336 vehicles in May; Changan Auto (Gravity) delivered nearly 49,000 vehicles in May.
Changan Auto's balanced layout was fully reflected in May: the fuel car base remained stable, new energy brands Deepal and Qiyuan accelerated volume growth, high-end brand Avatr continued to break through in technical cooperation, and overseas markets simultaneously achieved breakthrough growth. The pattern of five brands working together, driven by both new energy and exports, is initially taking shape.
Great Wall: Overseas Sales Growth Year-on-Year 46.75%Great Wall Motor's sales in May were 100,400 vehicles, slightly down compared to last May's 102,200 vehicles, making it the only company among the top 5 to show a year-on-year negative growth. From sub-brands, Haval brand sales in May were 55,500 vehicles, remaining Great Wall's most important sales pillar; Tank brand sales were 17,100 vehicles; both Haval and Tank brand sales showed year-on-year declines; Wey brand sold 8,119 vehicles, a 31.78% year-on-year increase, achieving growth against the trend; Ora brand performance was most stunning, with sales of 6,018 vehicles, a significant 206.88% year-on-year increase. In terms of new energy, Great Wall sold 30,400 new energy vehicles in May, with new energy vehicle transformation gradually accelerating.
The overseas market became Great Wall's biggest highlight in May, with overseas sales growing 46.75% year-on-year. Against the background of pressure on the domestic market, strong growth in overseas business effectively made up for the decline in the domestic market. Great Wall Motor's current core contradiction lies in: Haval and Tank, the two traditional main-selling brands, face weak growth, while Wey and Ora brands, although growing notably, have relatively small volume and are not yet enough to support overall growth. How to complete the "relay" between old and new brands is the key issue Great Wall must solve subsequently.
Final ThoughtsFrom May data, the growth pattern of the top 5 domestic brands has clearly diverged, but there are three common trends worth noting: First, exports have become a key engine for domestic brands to seek stability and growth. Second, new energy transformation is still accelerating, but paths differ among enterprises. Third, technological innovation continues to deepen brand moats. Looking ahead to the second half of the year, competition in the automotive industry will continue to upgrade around these three trends. Although everyone has a common direction, these three trends are all competing for the entire enterprise's industrial chain strength, and the strong will remain strong, which has almost become an inevitable outcome.
In May, China's automotive market overall presented a gentle recovery trend, with domestic brands still being the sales backbone of the market. Recently, BYD, Geely, Chery, Changan, and Great Wall, the top 5 domestic automakers, successively released their monthly performance reports. From the data, these five companies show a general characteristic of "stable total growth, divergence between domestic and international markets, and accelerated new energy penetration". Overseas exports and new energy vehicles have become the most core growth engines; export business has evolved from a "bonus item" to the "core foundation" for some companies. BYD's "dominant leader" status is further consolidated, Chery achieved high growth via exports, Geely's new energy penetration rate broke 56%, Changan focused steadily on balanced development, while Great Wall appeared slightly under pressure during structural transformation.
BYD: Export Hits New High Becomes Biggest HighlightIn May, BYD stood firmly at the top of domestic brands with a monthly sales volume of 383,500 vehicles, maintaining positive growth both year-on-year and month-over-month under a large base. Its two main brands, Dynasty and Ocean, sold a combined 330,200 vehicles, contributing 86.1% of total sales; Fangchengbao's monthly sales broke 30,000 units to reach 30,200, a year-on-year increase of 139.7%, setting a new high for the year; Denza sold 16,300 vehicles, and Yangwang delivered 286 vehicles. From a model perspective, BYD had eight models in May with monthly sales exceeding 20,000 vehicles. The Song Family and Yuan Family both broke 50,000 units, selling 51,370 and 56,691 vehicles respectively. The Sea Lion Family followed closely with 42,615 vehicles, and Seagull sales were also close to 40,000 vehicles.
BYD's biggest highlight in May was exports. Overseas new energy vehicle sales reached 160,600 units, an 80.4% year-on-year increase, accounting for about 42%. The sharp expansion of export scale effectively countered the phased weakness in domestic demand. Cumulative exports from January to May exceeded 620,000 vehicles. High export growth mainly benefited from continued ramping up of overseas factory capacity, improved ocean shipping capacity, and accelerated channel network expansion. In the domestic market, BYD promoted Megawatt Super Charging and intelligent strategies simultaneously—Megawatt charging achieved about 90% charge in 9 minutes; 20,000 super charging stations are planned to be built by 2026; all series models are available with Sky Eye B intelligent driving solutions and city navigation safety fallback plans, accelerating the popularization of high-level intelligent driving. As Gen 2 Blade Battery capacity gradually releases, the company's orders are expected to continue rising.
Chery: Sales Growth Leads the Top 5Chery Group's total sales volume in May was 247,800 vehicles, a significant year-on-year increase of 20.5%, ranking first in growth speed among the top 5. Exports remained its most core growth engine—May exports reached 181,900 vehicles, an 80.5% year-on-year increase, accounting for 73.4% of total sales that month, continuously breaking the single-month export record for Chinese brands for three months. In terms of new energy, Chery New Energy sold 100,300 vehicles, a 58.8% year-on-year increase. April and May consecutively saw monthly new energy sales breaking 100,000 vehicles.
The strong performance in exports benefited from Chery's long-term deep cultivation of overseas channel advantages and localized operation capabilities. While overseas orders continued to rise, high export growth formed a sharp contrast with domestic sales—Chery's domestic sales in May were only 60,000 vehicles, accounting for one-quarter of total sales. From cumulative data, Chery Group accumulated 1.101 million sales from January to May, but against the annual goal of 3.2 million vehicles, monthly averages need to reach about 420,000 vehicles later, and pressure remains significant.
Geely: New Energy Penetration Rate Breaks 56%Geely Auto's total sales volume in May was 237,600 vehicles, a 1% year-on-year increase, achieving month-over-month double growth for three consecutive months. In terms of structure, Geely's "New Four Transformations" transformation showed significant results: new energy vehicle sales reached 133,400 units, accounting for 56% of total sales, with new energy share exceeding 50% for four consecutive months.
From sub-brands, performance was significantly divergent. Zeekr brand sales in May reached 34,400 vehicles, a 82% year-on-year increase; Zeekr 9 Series and 8 Series models combined sales approached 50% of total sales, showing bright performance in the high-end market; Galaxy brand sales were 81,700 vehicles; Geely brand sales were 182,500 vehicles, among which China Star Series sales reached 100,800 vehicles; Lynk & Co brand sales were 20,700 vehicles, with new energy vehicle sales share rising to 71%.
In terms of exports, Geely's overseas vehicle exports in May reached 85,100 vehicles, a explosive 184% year-on-year increase, setting a brand single-month export record high. Among exported products, new energy vehicles reached 40,800 units, accounting for nearly half; hybrid and pure electric products have successively landed in Southeast Asia, Middle East, Latin America, and other markets, highlighting the results of global strategy implementation.
Changan: Multi-brand Matrix Balanced EffortChangan Auto's delivery volume in May was 209,100 vehicles, among which new energy deliveries were 92,400 vehicles, a 5.8% year-on-year increase, with new energy share about 44%. In terms of exports, overseas deliveries reached 70,700 vehicles, a 38% year-on-year increase, becoming another major growth highlight for Changan in May.
In the sub-brand matrix, Changan Qiyuan delivered 34,500 vehicles in May; All-New Q05 delivered 15,800 units, with orders breaking 3,000 units within three days of listing in Thailand; Deepal sales in May were 33,200 vehicles, a 30% year-on-year increase; January to May overseas cumulative sales were 28,700 vehicles, a significant 167% year-on-year increase; Avatr delivered 7,336 vehicles in May; Changan Auto (Gravity) delivered nearly 49,000 vehicles in May.
Changan Auto's balanced layout was fully reflected in May: the fuel car base remained stable, new energy brands Deepal and Qiyuan accelerated volume growth, high-end brand Avatr continued to break through in technical cooperation, and overseas markets simultaneously achieved breakthrough growth. The pattern of five brands working together, driven by both new energy and exports, is initially taking shape.
Great Wall: Overseas Sales Growth Year-on-Year 46.75%Great Wall Motor's sales in May were 100,400 vehicles, slightly down compared to last May's 102,200 vehicles, making it the only company among the top 5 to show a year-on-year negative growth. From sub-brands, Haval brand sales in May were 55,500 vehicles, remaining Great Wall's most important sales pillar; Tank brand sales were 17,100 vehicles; both Haval and Tank brand sales showed year-on-year declines; Wey brand sold 8,119 vehicles, a 31.78% year-on-year increase, achieving growth against the trend; Ora brand performance was most stunning, with sales of 6,018 vehicles, a significant 206.88% year-on-year increase. In terms of new energy, Great Wall sold 30,400 new energy vehicles in May, with new energy vehicle transformation gradually accelerating.
The overseas market became Great Wall's biggest highlight in May, with overseas sales growing 46.75% year-on-year. Against the background of pressure on the domestic market, strong growth in overseas business effectively made up for the decline in the domestic market. Great Wall Motor's current core contradiction lies in: Haval and Tank, the two traditional main-selling brands, face weak growth, while Wey and Ora brands, although growing notably, have relatively small volume and are not yet enough to support overall growth. How to complete the "relay" between old and new brands is the key issue Great Wall must solve subsequently.
Final ThoughtsFrom May data, the growth pattern of the top 5 domestic brands has clearly diverged, but there are three common trends worth noting: First, exports have become a key engine for domestic brands to seek stability and growth. Second, new energy transformation is still accelerating, but paths differ among enterprises. Third, technological innovation continues to deepen brand moats. Looking ahead to the second half of the year, competition in the automotive industry will continue to upgrade around these three trends. Although everyone has a common direction, these three trends are all competing for the entire enterprise's industrial chain strength, and the strong will remain strong, which has almost become an inevitable outcome.
