BYD(SZ:002594) Qi Lu Wan Bao Wang·2025-05-31 06:35Core Viewpoint - The recent news regarding the financial troubles of BYD's dealer, Jinan Qiancheng Automobile Trading Co., has raised significant concerns, although BYD has stated that the information circulating is untrue and that they are providing support to the dealer [1][2]. Group 1: Dealer's Financial Issues - Jinan Qiancheng, a major BYD dealer, is reportedly facing a financial crisis due to rapid expansion and leveraged operations, leading to a chain of 4S stores being acquired by other local dealers since late last year [1][2]. - The dealer's showroom is now closed, with no vehicles on display and employees claiming they have not received salaries for six months [2][7]. Group 2: Customer Impact - Customers have expressed concerns over their prepaid maintenance and warranty services, with reports of customers losing money on three-year warranty renewals and maintenance cards due to the dealer's closure [8][10]. - Complaints have surfaced on social media platforms regarding the inability to use prepaid services, with BYD's customer service acknowledging the issues but unable to provide immediate solutions [10][12]. Group 3: Operational Status - The service center at the dealer's location has reportedly paused operations, with only a few customers able to access basic services, indicating a significant disruption in service delivery [5][7]. - Employees at the service center have been tight-lipped about the situation, with indications that the transition to direct management by BYD is ongoing and expected to be completed by the end of June [4][5].