China's automobile industry is undergoing a profound transformation of new energy and internationalization. On May 11, data released by the China Automobile Manufacturers Association (“China Automobile Association”) showed that in April, sales of new energy vehicles in China increased by 33.5% year on year, far exceeding the overall increase in automobile sales. Meanwhile, in April, China's automobile exports increased 34% year on year, and the increase in automobile exports was already greater than domestic sales. Changes in the industry are also reflected in the quarterly results of major listed companies. In a recent interview, we learned that NEVs have become the “winners and losers” of the performance of listed car companies such as BYD and Cyrus in the first quarter. Under multiple measures such as cost reduction and efficiency and technological innovation, NEV operating efficiency has been effectively improved, and the export business has also become a new important performance growth point for major listed automobile companies. “China's automobile exports are the highlight of recent growth.” Cui Dongshu, Secretary General of the China Passenger Transport Federation, said that Chinese automobiles mainly exported parts, then strengthened vehicle exports, and continued to perform well until recently, new energy vehicles have continued to perform well, reflecting the strong development strength and good results of the Chinese automobile industry. The system and capabilities of the Chinese automobile industry are mature, and future competitiveness will gradually change the world automobile landscape. (Shanghai Securities Report)