政策与地缘风险进一步加剧了经营不确定性。国内市场方面，2025 年底旧标车禁售导致渠道去库存压力，新国标强化防篡改设计也切断了其核心利润来源之一的改装服务；海外市场中，北美营收占比高达 45%，但美国 301 关税豁免期仅延长至 2026 年 11 月，欧盟反倾销调查与环保标准升级也持续压缩盈利空间。此外，公司资产负债率高达 64.95%，流动比率仅 1.25，偿债压力凸显，而 2025 年实控人减持 2% 存托凭证套现 7.88 亿元，红杉、小米系累计套现超 62 亿元，反映出资本对其增长可持续性的担忧。
I have three 27” monitors—two portrait flanking one landscape. I find portrait layout to be more useful for more of what I do. I work in the command line a lot, remotely managing a variety of Cisco, Ruckus, and Juniper network switches. To me, command line, chat, email, and Word and PDF documents all usually work better in portrait. I had a difficult time finding good VESA mounting hardware for the two portrait monitors. I ended up with VideoSecu ML411B mounting brackets, and they work quite well. My partner designed and 3D-printed a great, simple mount for the landscape monitor.
，更多细节参见51吃瓜
然而，正如《解放軍報》社論所言，張又俠「嚴重辜負黨中央、中央軍委的信任重託」——比何衛東多了「重託」二字，暗示習近平曾將重大使命交付給他，但最終被背叛。
sequenceDiagram