Xin Lang Cai Jing·2025-05-08 09:41Core Insights - The financial indicators of accounts payable and accounts payable turnover days for 13 listed automotive companies in 2024 reveal their operational status and potential risks [1][6]. Group 1: Accounts Payable - BYD leads with an accounts payable and notes payable amount of 244.03 billion, followed closely by SAIC Motor at 241.14 billion, indicating strong bargaining power within the supply chain [1]. - In contrast, Haima Automobile has the lowest accounts payable and notes payable at 0.943 billion, suggesting weaker bargaining power or smaller business scale [1]. Group 2: Accounts Payable Turnover Days - Haima Automobile has the highest accounts payable turnover days at 270.41 days, allowing it to utilize supplier funds longer, but potentially straining supplier relationships [3]. - GAC Group and BYD have lower turnover days at 107.78 and 127.23 days respectively, indicating faster payment cycles and better supplier relationships, but possibly underutilizing accounts payable leverage [3]. Group 3: Operational Risks - High accounts payable levels pose operational risks, including potential supply disruptions and increased financial risk if market conditions worsen [6]. - Companies must balance utilizing supplier funds for growth while maintaining healthy supply chain relationships to navigate a complex market environment [6].