BYD(002594) 搜狐财经·2025-05-29 01:05Core Viewpoint - The operational crisis of BYD's core dealer, Shandong Qiancheng Holdings Co., has led to the closure of over twenty 4S stores in Shandong province, affecting thousands of consumers who are unable to receive promised services and refunds [1][10]. Group 1: Impact on Consumers - Consumers are facing unfulfilled promises regarding the "three-year warranty" and various services, with prepayments ranging from 10,000 to 15,000 yuan [4][6]. - Many affected consumers have organized into groups to seek collective solutions, as individual complaints to regulatory bodies have yielded unsatisfactory responses [6][12]. Group 2: Financial and Operational Background of Qiancheng Group - Qiancheng Group, once a key strategic partner for BYD, had over 20 4S stores and claimed annual revenues of 3 billion yuan, employing over 1,200 people [7][8]. - The group began to experience financial difficulties as early as 2024, with reports of unpaid employee wages and social security contributions [8][9]. Group 3: Discrepancies in Responsibility - There is a significant divergence in the narratives between BYD and Qiancheng Group regarding the causes of the crisis, with BYD attributing it to Qiancheng's internal management issues and rapid expansion, while Qiancheng blames BYD's policy changes [10][11]. - The lack of effective oversight by BYD over its dealer network has come under scrutiny, as consumers feel misled by the brand's assurances [12].