问题更严重！电池厂账期反超整车

Core Viewpoint - The automotive industry is facing significant challenges due to extended payment terms, which are adversely affecting small and medium-sized suppliers, with the issue primarily directed at vehicle manufacturers [1][2]. Group 1: Payment Terms in the Automotive Supply Chain - The automotive supply chain has a clear hierarchical structure, consisting of Tier 1, Tier 2, and Tier 3 suppliers, where smaller suppliers often have weaker negotiating power [2]. - Vehicle manufacturers have historically held significant bargaining power, reflected in the disparity between accounts payable and accounts receivable turnover days, with the former being much higher [2]. - In a study of eight A-share listed passenger car companies, the average accounts receivable turnover period was 66 days, while the accounts payable turnover period averaged 182 days, resulting in a 116-day gap [2]. Group 2: Battery Manufacturers' Payment Terms - The issue of payment terms is even more pronounced among battery manufacturers, with an average accounts receivable turnover period of 103 days and an accounts payable turnover period of 255 days, leading to a 152-day difference [4]. - Leading battery manufacturer CATL exhibited a 2024 accounts receivable turnover period of 65 days, contrasted with a 259-day accounts payable turnover period, highlighting its strong negotiating position [5]. Group 3: Performance of Automotive Parts Companies - Among 255 A-share listed automotive parts companies, the average accounts payable turnover period was 142 days, while the accounts receivable turnover period was 116 days, resulting in a 26-day difference [5]. - Larger companies tend to have better cash collection capabilities, with a trend showing that as market capitalization increases, the accounts receivable turnover period decreases [6]. - Notable companies with strong performance include Fuyao Glass and Weichai Power, with accounts payable turnover periods of 81 days and 194 days, respectively [6]. Group 4: Industry Responsibility and Future Directions - To address the issue of extended payment terms, both vehicle manufacturers and leading parts suppliers must take responsibility for promoting healthy and high-quality industry development [7]. - The China Iron and Steel Industry Association emphasized the need for industry players, especially leading companies, to set an example and combat unhealthy competition to foster a healthier supply chain [7].