宝马iX5氢燃料电池汽车。图片来源：BMW 氢燃料电池汽车（FCEV）几乎与当前这波纯电动汽车（BEV）同时进入市场。但相比之下，其销量却 微不足道。2024年，全球仅登记了12,866辆氢燃料电池汽车，而纯电动汽车的登记量高达1,080万辆。尽 管如此，一些制造商仍希望氢能在交通领域发挥作用。 宝马（BMW）便是其中之一。该公司最近宣布，将在2028年将旗下首款氢燃料电池汽车投入量产。在 近期一场推广氢燃料电池汽车的峰会上，《财富》杂志采访了宝马集团氢能技术及车辆项目总经理尤尔 根·古尔德纳，以及其他氢能倡导者。 丰田（Toyota）凭借2014年推出的Mirai，在氢燃料电池汽车销量方面持续领先，但它并非唯一的市场参 与者。现代（Hyundai）自2018年起销售Nexo车型；本田（Honda）在2008年至2021年间曾以Clarity品 牌推出过多款车型，于2024年推出了其CR-V e:FCEV插电式混合动力氢能车。宝马则更为谨慎。自2023 年起，该公司一直在小批量试产基于X5的氢燃料电池车。iX5 Hydrogen已是一款性能可靠的车型，驾驶 平稳，内饰则沿用了大家熟悉的X5风格。然而，这未必会 ...

Core Viewpoint - The article highlights the continuous revenue growth and rising rankings of five Chinese internet giants—JD.com, Alibaba, Tencent, Pinduoduo, and Meituan—in the competitive landscape of the Fortune Global 500 list, indicating the ongoing penetration of the internet and e-commerce in China's vast market [1][2]. Group 1: JD.com - JD.com ranked 44th in the Fortune Global 500, rising three places and becoming the highest-ranked private company in China [4]. - The company officially entered the food delivery market in March, challenging Meituan's monopoly, which presents new opportunities for merchants, riders, consumers, and competitors like Alibaba [5][6]. - JD.com aims to leverage its existing instant delivery network, mature app, and technology to enhance user engagement and drive consumption across various product categories [7][9]. - The company has signed labor contracts with full-time riders, ensuring social security benefits, and has over 150,000 full-time riders as of June 2025 [9]. - JD.com’s core advantage lies in its supply chain capabilities, which have been optimized for efficiency and cost reduction, allowing it to outperform competitors like Gome and Suning [10][15]. Group 2: Alibaba - Alibaba rose seven places to rank 63rd in the Fortune Global 500 [18]. - The company is integrating its services by unifying Taobao's "hourly delivery," Ele.me's local retail, and Hema's instant delivery into a single platform called "Taobao Flash Purchase," enhancing its operational efficiency [17]. Group 3: Meituan - Meituan reported a revenue of 337.6 billion yuan for the year, ranking 327th on the Fortune list, with its core local business growing by 20.9% to 250.2 billion yuan [19]. - The company has built a robust instant delivery network with nearly 4 million riders, maintaining high net profits despite competitive pressures [20]. - Meituan faces challenges in quality control due to the diverse range of products and merchants involved in instant retail, which can affect consumer trust [20]. Group 4: Competitive Landscape - JD.com employs a supply chain model that emphasizes control over procurement, warehousing, and logistics, while Alibaba and Meituan utilize a platform model that connects supply and demand through digital technology [21][22]. - The article notes that both models have distinct operational logics, with the supply chain model focusing on strict quality control and the platform model allowing for rapid expansion of product categories [22][23]. - All three companies are navigating a new competitive environment, leveraging their unique strengths to explore new markets: JD.com extends its supply chain capabilities into instant retail and food delivery; Alibaba maximizes its platform effects and capital strength; and Meituan seeks higher profit margins through its extensive rider network [23].

图片来源：Getty Images 你可能已在Fortune Intelligence等处读到过相关报道，甚至或许你或你的朋友已受到影响，AI正在深刻 重塑工作模式，尤以招聘、解雇两方面为甚。其冲击在劳动力市场体现得最为明显。作为AI应用的原 爆点，科技行业见证着大批员工被其参与创造的创新技术所取代。企业竞相将AI融入从云基础设施到 客户支持的各个环节，同时缩减软件工程、IT支持和行政职能的人员规模。AI驱动的自动化浪潮不断加 快科技行业的裁员速度，有统计显示，受影响员工数量已高达8万人。仅微软一家公司就裁减了1.5万个 岗位，该公司同时承诺向新AI项目再投入800亿美元。 不过劳动力市场情报公司Lightcast提供的数据为未来带来了一线希望。那些要求具备AI技能的非技术岗 位的薪资水平正在大幅飙升。Lightcast发布的新报告《超越喧嚣》（Beyond the Buzz）对超过13亿份招 聘信息进行了分析，结果显示，此类职位的薪资平均增加了28%——相当于每年多赚近1.8万美元。该 研究凸显了技术与非技术领域招聘的分化：技术类岗位对AI技能的需求依然强劲，但IT与计算机科学领 域中的AI职位占比已从20 ...

Core Viewpoint - Chery Group has made significant progress, ranking 233rd in the 2025 Fortune Global 500, a leap of 152 positions from the previous year, marking it as the fastest-rising automotive company on the list [1] Group 1: Long-term Strategy - Chery's long-term strategy focuses on technological breakthroughs, maintaining a leading edge in "Technology Chery" through high R&D investment and establishing over 300 experimental labs [2] - The company emphasizes brand elevation, achieving the highest number of global "five-star" certifications among Chinese automotive brands, with 41 models recognized [5] - Chery has been recognized as the top domestic brand in J.D. Power's sales satisfaction rankings for 2025, showcasing its commitment to quality and customer satisfaction [5] Group 2: Global Expansion - Chery adheres to the "In somewhere, for somewhere" philosophy, contributing locally in overseas markets and adapting to local regulations and needs [7] - The collaboration with EV MOTORS in Spain has revitalized the local brand EBRO, creating jobs and generating tax revenue, which has been positively received by the Spanish government and citizens [8] Group 3: Ecosystem Development - Chery is shifting from automotive manufacturing to a broader ecosystem, including after-market services, material recycling, and new business models like drones and flying cars [10] - The company is building platforms for industrial internet, financial services, and user ecosystems, fostering a shared economic ecosystem with thousands of enterprises [10] Group 4: Sustainable Management - Chery is integrating ESG principles into its strategy, achieving certifications for green supply chain management and sustainable development [14] - The company collaborates with global organizations for environmental and educational initiatives, aiming to become a sustainable century-old enterprise [14]

Group 1 - The latest Fortune Global 500 list was released on July 29, 2025, highlighting the world's largest companies [1] - Cencora topped the Return on Equity (ROE) list with over 233%, while Home Depot fell to second place with an ROE of approximately 223% [2] - Apple and AbbVie ranked third and fourth in the ROE list, respectively [2] Group 2 - Pinduoduo is the only Chinese company in the top 50 for ROE, ranking 25th with over 36% [2] - Other Chinese companies in the top 10 of the ROE sub-list include TSMC, Quanta Computer, Zijin Mining Group, Lenovo, BYD, Meituan, CATL, Tencent, and Chery [2]

Core Insights - The overall profit of the 500 companies in 2024 reached nearly $3 trillion, marking a 0.4% increase from the previous year, making it the second-highest total profit in history [2]. Group 1: Profit Rankings - Saudi Aramco remains the most profitable company with approximately $105 billion in profit, despite a year-on-year decline of about 13% [2]. - Alphabet, the parent company of Google, ranks second in profitability, surpassing Apple to become the most profitable tech company [2]. - Nvidia experienced a significant profit increase of approximately 145%, entering the top ten of the profit rankings for the first time, securing the sixth position [2]. - Other notable American tech companies include Microsoft, Meta Platforms, and Amazon, which rank fifth, seventh, and eighth respectively in terms of profit [2]. - Berkshire Hathaway, despite a profit decline of about 7.5%, remains fourth with over $88.9 billion in profit [2]. - The Industrial and Commercial Bank of China is the only Chinese company in the top ten profit rankings, with profits exceeding $50.8 billion [2].

Group 1 - The latest Fortune Global 500 list was released on July 29, 2025, featuring 25 new and returning companies, including 5 from China [1] - Among the new entrants, Shandong Gold Group made its debut on the list, while the highest-ranked new company is Germany's REWE Group at position 112 [1] - The list includes 9 companies that are making their first appearance and 16 that have returned after at least a year of absence [1] Group 2 - Companies can access the full list and detailed reports by following specific keywords on the Fortune Chinese website [1]

Core Insights - The 2025 Fortune Global 500 list shows that Chinese companies continue to make progress, but still face challenges in terms of quality and competitiveness compared to U.S. firms [1][19][22] Group 1: Overall Performance of Fortune Global 500 - The total revenue of the Fortune Global 500 reached $4,173.27 billion, marking an increase of nearly $1000 billion from the previous year, achieving a new peak since the list's inception [1] - The total profit of these companies reached $297.71 billion, close to the highest value recorded since the list began [1] - The threshold for entering the list has increased, with the lowest-ranked company achieving nearly $32.3 billion in sales [1] Group 2: U.S. Companies' Dominance - A total of 138 U.S. companies made the list, accounting for 27.6% of the total, with their combined revenue of $1,459.91 billion representing 35% of the total revenue of all 500 companies [2] - U.S. companies' total profit reached $133.74 billion, making up 45% of the total profits of the Fortune Global 500 [2] - The average profit per U.S. company was $9.69 billion, significantly higher than the average profit of $4.53 billion for non-U.S. companies [2] Group 3: High-Tech Sector Performance - There are 34 high-tech companies on the list, with their average revenue increasing from $88.2 billion in 2024 to $96.7 billion in 2025, a growth of 9.6% [3] - The average profit for these high-tech companies rose by 24% from $146 million to $181 million [3] - Among the 34 high-tech companies, 15 are from the U.S., with an average revenue of $121.7 billion and an average profit of $31 billion, reflecting a 19% increase in revenue and a 31% increase in profit compared to the previous year [4] Group 4: Chinese Companies' Performance - A total of 130 Chinese companies made the list, with 124 from mainland China and Hong Kong, showing a decline from previous years [9][10] - The average revenue for Chinese companies was $823.6 million, with an average profit of $42 million, which is a 7.4% increase year-on-year [10] - Despite the increase in average profit, the number of Chinese companies on the list has decreased for four consecutive years, highlighting a growing gap with U.S. companies [12] Group 5: Challenges Faced by Chinese Companies - Chinese companies are facing significant challenges in improving their operational quality and competitiveness, particularly in the context of U.S.-China trade tensions and global geopolitical conflicts [11][12] - The average sales profit margin for Chinese companies remains below the global average, with a sales profit margin of 5.1% compared to the global average of 7% [12][13] - The automotive sector, while showing growth in production and sales, has seen a decline in profit margins, with the average sales profit margin for Chinese automotive companies at only 2.2% [14][15][16] Group 6: Global Economic Context - The performance of U.S. companies, especially in the high-tech sector, has been a driving force for global economic recovery, reflecting a positive trend in the global economy [3][19] - The ongoing geopolitical tensions and trade conflicts are reshaping global supply chains, impacting the operational landscape for companies worldwide [21][22]

Core Insights - The total revenue of the 2025 Fortune Global 500 companies reached a record $41.7 trillion, growing by approximately 1.8% year-on-year, accounting for over one-third of global GDP [18][22] - Walmart has maintained its position as the largest company globally for the twelfth consecutive year, followed by Amazon and China's State Grid Corporation [19][20] Group 1: Company Performance - The total profit of the 500 companies is nearly $3 trillion, marking the second-highest profit ever recorded [4] - Saudi Aramco remains the most profitable company with a profit of approximately $105 billion, despite a year-on-year decline of about 13% [4] - The average profit of U.S. companies is around $9.7 billion, while the average profit for Chinese companies is $4.2 billion, nearly half of the U.S. average [7][23] Group 2: Chinese Companies - A total of 130 Chinese companies made the list, a decrease of three from the previous year, with 124 from mainland China and Hong Kong [6][20] - The total revenue of Chinese companies on the list is approximately $10.7 trillion, down about 3% from last year [7][22] - Among the Chinese companies, ICBC is the only one to enter the top ten in terms of profit, with over $50.8 billion [4] Group 3: Industry Trends - The automotive sector shows a mixed performance, with ten Chinese automotive and parts companies making the list, including BYD, which significantly improved its ranking to 91st [9][10] - High-tech companies are experiencing rapid growth, with 34 high-tech firms on the list, averaging $96.7 billion in revenue and $18.1 billion in profit, reflecting increases of 9.6% and 24% respectively [12][13] - The financial sector has the highest revenue and profit among the industries, with financial companies generating $9.4 trillion in revenue and $1 trillion in profit, both historical highs [23] Group 4: Rankings and Changes - This year, 12 Chinese companies improved their rankings by at least 50 positions, indicating a strengthening competitive position among leading firms [17] - The largest increase in ranking was seen by Russia's Foreign Trade Bank, which rose 187 places to 286th [17] - A total of 25 companies are either new to the list or have returned after at least a year, including five from China [15][24]

Core Viewpoint - The article highlights the journey of Delong Steel, particularly its successful establishment and expansion in Indonesia, showcasing the company's strategic vision and adaptability in the steel industry [1][5][6]. Group 1: Establishment and Growth in Indonesia - Delong Steel, under the leadership of Ding Liguo, established a significant presence in the Morowali Industrial Park in Central Sulawesi, Indonesia, with the founding of Dexin Steel in 2017, which integrates various steel production processes [3][4]. - The first phase of Dexin Steel's project was completed in March 2020, achieving an annual production capacity of 4 million tons of steel and 1.3 million tons of coke [3]. - By September 2023, the expansion of the first phase was completed, further solidifying its position as the largest single steel production enterprise built by a Chinese company overseas, with a crude steel capacity reaching 7 million tons [4]. Group 2: Strategic Market Approach - Ding Liguo's strategy involves selling only 30% of the 7 million tons of crude steel produced in Indonesia domestically, while 70% is targeted for international markets, emphasizing a global sales approach [6][8]. - The company aims to create a symbiotic relationship with local enterprises, fostering a truly integrated ecological industrial chain rather than merely exporting products [9][10]. Group 3: Environmental and Operational Transformation - Delong Steel's commitment to environmental sustainability began in 2009, leading to significant improvements in its environmental standards and operational efficiency [21][25]. - The company underwent a major transformation during the restructuring of Bohai Steel, focusing on core steel operations and implementing rigorous cost management and operational efficiency measures [13][15]. - As a result of these efforts, the new Tiansteel Group, formed from the restructuring, achieved a significant reduction in pollutant emissions by 70%, becoming one of the nationally rated A environmental steel plants [19][24]. Group 4: Historical Context and Future Outlook - Ding Liguo's journey in the steel industry began in the early 1990s, with a focus on seizing opportunities during market fluctuations, which has led to Delong Steel's consistent growth and recognition, including its entry into the Fortune Global 500 list in 2022 [30][31][18]. - The article emphasizes the importance of adaptability and strategic foresight in navigating the challenges of the steel industry, with Ding Liguo's philosophy of viewing environmental challenges as opportunities for innovation and growth [24][28].