SERES(SH:601127) Nan Fang Du Shi Bao·2025-07-09 13:55Core Viewpoint - Recently, 17 major automotive companies, including FAW, Dongfeng, GAC, and Seres, have publicly committed to a payment term not exceeding 60 days for suppliers, raising questions about the feasibility of these commitments and prompting the Ministry of Industry and Information Technology (MIIT) to establish a feedback window for reporting issues related to these commitments [1][4]. Group 1 - The MIIT has launched an online feedback window to address issues related to the payment commitments made by major automotive companies, allowing small and medium-sized enterprises (SMEs) to report problems regarding the enforcement of the 60-day payment term [1][3]. - The feedback window will handle four types of issues: failure to adhere to the 60-day payment term, unreasonable payment term start dates, coercion of SMEs to accept non-cash payment methods, and other inadequacies in implementing the Payment Protection Regulation for SMEs [3][4]. - The MIIT supports the automotive companies' commitment to a 60-day payment term and aims to foster long-term stable relationships between vehicle manufacturers and their supply chain partners [3][4]. Group 2 - Data indicates that in 2024, the average accounts payable turnover days for Chinese domestic automotive companies will be 182 days, which is 2.3 times that of international companies, leading to skepticism among suppliers regarding the fulfillment of the 60-day payment commitment [4]. - The establishment of the feedback window provides a new channel for automotive suppliers to urge companies to resolve payment-related issues, thereby promoting better management practices and payment methods [4]. - The MIIT plans to guide industry organizations in developing payment settlement standards for the automotive sector and to promote a collaborative ecosystem between vehicle manufacturers and parts suppliers [4]. Group 3 - The Payment Protection Regulation for SMEs, effective from June 1, 2023, mandates that government agencies and institutions must pay for goods and services from SMEs within 30 days, or within 60 days if otherwise agreed in the contract [4]. - The newly revised Anti-Unfair Competition Law addresses the issue of delayed payments to SMEs, prohibiting large enterprises from abusing their advantages to impose unreasonable payment terms on SMEs [5].