9月15日，理想汽车、小米汽车、北汽集团、长城汽车先后就当日7点左右中国汽车工业协会（以下简称"中汽协"）发布的《汽车整车企业供应商账款支付规 范倡议》（以下简称"《倡议》"）作出积极回应。 《中国经营报》记者从接近中汽协人士处了解到，"政府主导部门、行业协会和各家企业一直就供应商账期问题进行密切的交流协商，希望通过达成共识促 进行业健康良性发展。" 一家零部件上游供应商告诉记者："自6月1日《保障中小企业款项支付条例》开始施行，多家与其合作的主机厂已经将支付账期统一至60天内，较此前有很 大提升。企业的积极性和回款周期、流动性（指标）全面提升。" 记者关注到，截至发稿，已有包括理想汽车、小米汽车、北汽集团、长城汽车、上汽集团、东风汽车等十余家企业积极响应中汽协倡议。 十余家车企响应"60天"付款倡议 记者关注到，此次中汽协倡议，明确了汽车整车企业对供应商的"60天账期"支付起算时间，整车企业的支付账期自供应商企业交货并通过车企验收合格之日 起计算，最长不超过60个自然日（如支付当日遇法定节假日顺延）。另外，倡导车企与供应商建立长期稳定的合作关系，每次签订合同的有效期不少于一 年。 针对《倡议》，9月15日中 ...

Core Viewpoint - The China Automotive Industry Association (CAAM) has issued a payment standard initiative for automotive manufacturers, establishing a maximum payment term of 60 days for suppliers, effective from the date of delivery acceptance [1][2]. Group 1: Initiative Details - The initiative specifies that the payment term starts from the date of delivery and acceptance, with a maximum of 60 calendar days [1]. - It outlines requirements for delivery acceptance, payment terms, reconciliation, and payment processes, including a principle that delivery acceptance should not exceed three working days [1]. - The initiative encourages stable cooperation between suppliers and manufacturers, with contracts having a minimum validity of one year [1]. Group 2: Industry Response - Seventeen major automotive companies, including FAW, Dongfeng, Changan, SAIC, and BYD, have committed to implementing the initiative, aiming to foster a collaborative ecosystem between vehicle manufacturers and parts suppliers [1][2]. - In August, these companies collectively sold approximately 2.6 million vehicles, accounting for over 90% of China's total automotive sales for that month, indicating strong industry support for the initiative [2]. Group 3: Market Impact - Following the announcement of the initiative, the A-share automotive sector saw a net inflow of 3.27 billion yuan, with a 1.1% increase in stock prices [2]. - Several listed parts suppliers, such as Wanxiang Qianchao and Zhejiang Shibao, experienced stock price surges, while vehicle manufacturers like Haima and Jinbei also saw significant gains [2]. Group 4: Regulatory Context - The initiative aligns with recent regulatory actions aimed at promoting the healthy development of the automotive industry, including a three-month special campaign to address online irregularities in the sector [2]. - The Ministry of Industry and Information Technology has also released a work plan for stabilizing growth in the automotive industry from 2025 to 2026, focusing on structural optimization and quality improvement [2]. Group 5: Historical Context - Prior to this initiative, CAAM had already advocated for fair competition and healthy industry development, with commitments from major companies to adhere to a 60-day payment term [3]. - Data from Wind indicates that the average payment cycle for major domestic automakers was 183 days in the first half of this year, an increase of about 7 days compared to the same period in 2024 [3].

Core Viewpoint - The China Automotive Industry Association (CAAM) has launched an initiative to standardize payment practices between automotive manufacturers and suppliers, aiming to foster a collaborative ecosystem and promote high-quality development in the automotive industry [1][2][8]. Group 1: Initiative Principles - The initiative emphasizes not exploiting the advantages of large enterprises to harm suppliers' interests, promoting a win-win collaboration between vehicle manufacturers and parts suppliers [2]. - In the order confirmation phase, both parties should agree on order details, and any changes to existing orders must be mutually negotiated [2]. - Payment terms stipulate that the maximum payment period should not exceed 60 calendar days from the date of delivery and acceptance [2]. Group 2: Contract Duration - The initiative encourages establishing long-term cooperative relationships, with each contract having a minimum validity period of one year [3]. Group 3: Industry Response - As of the report, 17 automotive manufacturers have committed to implementing the initiative, including Chery Group, which aims to standardize contract terms and comply with the "Regulations on Payment for Small and Medium Enterprises" [4]. - Companies like Seres and Changan Automobile have expressed their commitment to industry self-discipline and adherence to the 60-day payment term [4][5]. - Other major players such as Dongfeng, BYD, and Great Wall have also pledged to support the initiative and ensure supplier rights are protected [5]. Group 4: Policy Context - This initiative is part of a broader governmental effort to regulate the automotive industry, following the implementation of the revised "Regulations on Payment for Small and Medium Enterprises" which established a legal basis for the 60-day payment term [9]. - The CAAM's initiative details operational standards across four key areas: order confirmation, delivery acceptance, payment settlement, and contract duration [9]. Group 5: Industry Challenges - Despite the industry's growth, challenges persist, including rising debt levels among manufacturers due to increased R&D investments and structural adjustments for electric vehicle production [10]. - The average payment cycle for ten major domestic automakers was reported to be 182 days in the first half of the year, significantly exceeding the 60-day requirement [11].

Core Viewpoint - The China Automobile Industry Association (CAAM) has launched an initiative to standardize payment terms for automotive suppliers, establishing a maximum payment period of 60 days from the date of delivery and acceptance of goods by the automaker [1][3]. Group 1: Initiative Details - The payment period starts from the date the supplier's goods are delivered and accepted by the automaker, with a maximum of 60 calendar days [1][3]. - Automakers are encouraged to establish long-term cooperative relationships with suppliers, with contracts having a minimum validity of one year [1]. - The initiative outlines key processes including order confirmation, delivery and acceptance, and payment and settlement [3]. Group 2: Industry Response - 17 automakers have publicly committed to implementing the payment initiative, including major companies like Dongfeng Motor, SAIC Group, and BYD [2][6]. - Automakers such as BYD emphasize the importance of adhering to the initiative to ensure supplier rights and stabilize supply chain expectations [6]. Group 3: Specific Policies from Automakers - Chery Group has introduced a four-pronged approach to standardize payment terms and reduce average payment periods for suppliers [7]. - Changan Automobile has implemented a payment scheme that starts counting from the delivery date, successfully fulfilling the 60-day payment commitment [7]. - Great Wall Motors has committed to using bank transfers and bank acceptance bills exclusively for payments, avoiding electronic vouchers [7].

Core Viewpoint - The "60-day payment commitment" initiative among 17 automotive companies continues to evolve, with the China Automotive Industry Association releasing the "Payment Norms Initiative for Automotive OEMs and Suppliers" on September 15, which aims to standardize payment terms and enhance supplier rights [1][3]. Group 1: Initiative Details - The initiative specifies that payment terms should not exceed 60 calendar days from the date of delivery and acceptance by the OEM [3]. - It encourages cash payments or bank acceptance bills, especially for small and medium-sized enterprises, to alleviate financial pressure on suppliers [5][6]. - The initiative includes provisions for advance payments based on previous contract prices if pricing agreements are not reached [5]. Group 2: Industry Response - Major automotive companies such as Dongfeng, Changan, and SAIC have committed to implementing the initiative, ensuring supplier rights and stabilizing expectations within the supply chain [6][8]. - The Ministry of Industry and Information Technology emphasized the importance of this initiative for promoting healthy and sustainable development in the automotive industry [8]. Group 3: Market Impact - Following the announcement of the initiative, automotive stocks saw significant gains, with several companies reaching their daily price limits [3]. - In the Hong Kong market, shares of electric vehicle manufacturers like NIO and BYD also experienced notable increases [4]. Group 4: Historical Context and Future Outlook - Since the initial "60-day payment commitment" declaration in June, some companies have already begun to optimize their payment terms, with reports indicating that several firms have successfully implemented the 60-day payment policy [9]. - The Ministry of Industry and Information Technology has previously issued guidelines to regulate payment terms in the automotive sector, highlighting the ongoing challenges in achieving compliance across the industry [9][10].

Market Overview - The index reached a new high last week but continues to experience fluctuations rather than a one-sided rise, attributed to several factors including pending events like the Federal Reserve's interest rate decision and the US-China tax issues [3] - Seasonal factors related to the Mid-Autumn Festival and National Day are causing some funds to adopt a wait-and-see approach, leading to profit-taking during strong rallies [3] - The market is characterized by a rotation among core stocks, with significant contributions from key players, indicating that while the index may rise, not all stocks are performing equally [3][4] Trading Strategy - The overall market outlook remains bullish, with recommendations to hold broad-based ETFs while adopting a selective approach to individual stocks, suggesting profit-taking on large gains and buying on dips [5] - The gaming sector has shown strong performance, with a nearly 4% increase, driven by a 23.53% year-on-year growth in the issuance of domestic game licenses from January to August [5] - Fund managers are heavily invested in the gaming sector, with a total market value of 36.34 billion yuan, reflecting a 35.97% increase from the previous quarter [5] Technology Sector - The technology sector, particularly hard tech, has seen mixed reactions to positive news, with some stocks experiencing high openings but closing lower, indicating pre-positioning by investors [6] - Specific areas like automotive chips and semiconductor equipment still have potential for growth, while caution is advised against chasing high-flying stocks [6] New Energy Sector - The new energy sector is experiencing significant movements, particularly in the automotive segment, with notable gains in companies like Haima and Jianghuai [7] - Recent policy announcements, such as the new energy storage action plan and supplier payment norms, are driving the performance of related stocks [7] - The sector is characterized by a rotation among different concepts, with solid-state batteries being a key focus area, while other segments are seen as secondary [7]

Core Viewpoint - The "Automobile Industry Stabilization and Growth Work Plan (2025-2026)" aims to achieve approximately 32.3 million vehicle sales in 2025, with a focus on technological innovation and product quality for high-quality industry development [1][2][5] Group 1: Industry Goals - The plan targets around 32.3 million vehicle sales in 2025, a year-on-year increase of about 3%, with 15.5 million of those being new energy vehicles (NEVs), representing a 20% increase [2] - The automotive manufacturing industry's added value is expected to grow by approximately 6% year-on-year [2] - The automotive industry has shown stable growth for three consecutive years, contributing significantly to macroeconomic growth [2] Group 2: Policy Measures - The plan includes 15 specific measures across four dimensions: expanding domestic consumption, improving supply quality, optimizing the development environment, and deepening open cooperation [4] - Specific initiatives include promoting the full marketization of NEVs, enhancing automotive consumption, and advancing the industrial application of smart connected technologies [4] - The plan emphasizes the need for a healthy and orderly market environment, with measures to regulate competition and ensure compliance with payment terms [5] Group 3: Market Trends - In the first eight months of the year, China's automotive production and sales both exceeded 20 million units, with NEVs accounting for 45.5% of total new vehicle sales [2] - The competitive landscape is shifting, with domestic brands increasing their market share and a gradual cessation of price wars expected as new competitive products are launched [6] - The automotive sector is experiencing a positive response to recent policy measures, leading to a rise in automotive stocks [6]

Group 1: Automotive Industry - 17 automotive companies have committed to implementing the payment initiative for suppliers, responding to the call from the China Automobile Industry Association to ensure timely payments and protect supplier interests [2][2][2] - These companies have publicly pledged that the payment period for suppliers will not exceed 60 days and will adhere to the requirements in key areas such as order confirmation, delivery, acceptance, and payment [2][2][2] Group 2: Battery Materials - Enjie Co., Ltd. reported stable growth in demand and orders from downstream customers, with high capacity utilization and industry-leading product quality [5] - Yahua Group plans to start the construction of a pilot line for sulfide solid-state electrolytes in 2026, focusing on the development and industrialization of key materials [7] - Zijin Mining has launched a lithium carbonate project in Argentina with an annual production capacity of 20,000 tons, with plans for further expansion to 60,000-80,000 tons [9] - Tianhua New Energy intends to acquire 75% of Suzhou Tianhua Times for 1.254 billion yuan, enhancing its long-term development strategy in overseas lithium resource investment [11] - Taihe Technology is in the pilot testing phase for its solid-state electrolyte lithium aluminum titanium phosphate, with no current sales or partnerships established [14] Group 3: Equipment and Financing - Aotewei plans to invest 144 million yuan to increase its stake in its subsidiary, Wuxi Songci Electromechanical Co., Ltd. [16] - Dutch startup LeydenJar has completed a financing round of 13 million euros (approximately 108 million yuan) to finalize the construction of its silicon anode factory [18] - Mercedes-Benz announced successful long-distance road tests of its solid-state battery-equipped EQS vehicle, achieving a range of 1205 kilometers without recharging [19]

9月15日，中国汽车工业协会发布《汽车整车企业供应商账款支付规范倡议》，要求整车企业支付账期自供应商交货并通过验收合格之日起计算，最长不超 过60个自然日，且货物验收时间原则上不超过3个工作日。倡议发布后，17家重点车企集体响应，包括东风、上汽、长安、赛力斯、理想、比亚迪、奇瑞、 广汽、蔚来、小鹏、小米、吉利、长城、零跑、北汽、江汽和一汽均表态落实倡议，推动供应链账款支付规范化。 工信部明确支持该倡议，认为其细化了货物交付验收、账期起计、对账结算等执行要求，有助于解决此前各车企因流程差异导致的"尺度不一"问题，对促进 汽车行业规范发展具有重要意义。多家车企已推出具体措施：长安汽车通过"按交付日起算+十日归集支付"方案全面兑现60天账期承诺；上汽集团明确不采 用商业承兑汇票等增加供应商资金压力的结算方式；广汽集团表示已严格执行"不超过60天账期"支付原则28年；奇瑞集团通过"账期规范化、执行全链化、 审批数字化、预付款机制化"组合拳缩短平均支付账期。 经观汽车 ...

新华社北京9月15日电 题：规范供应商账款支付，汽车企业积极响应 赛力斯集团表示，在全球化背景下，增强汽车产业链的韧性和竞争力，确保供应链的安全与稳定尤 其重要，呼吁企业加强自律，共同推动行业高质量发展。 广汽集团表示，以实际行动推动产业链上下游协同、健康发展，已建立起覆盖订单下发、验收入 库、对账结算到货款支付的全流程管控体系，杜绝任何形式的支付拖延。 与此同时，上汽集团、理想汽车、长安汽车、比亚迪汽车等也纷纷发声，表示将聚焦订单确认、交 付与验收、支付与结算、合同期限等关键环节积极落实倡议，共同构建协作共赢发展生态。 近年来，汽车市场竞争日趋"白热化"，竞争压力转嫁、传导至上游供应链，压低采购价格、延长付 款周期等问题凸显，给产业链供应链健康发展带来不利影响。 新华社记者唐诗凝 17家作出账期承诺的汽车企业15日明确表态，积极响应中国汽车工业协会发布的《汽车整车企业供 应商账款支付规范倡议》，将以实际行动落实倡议要求，共同推动汽车产业高质量发展。 东风汽车表示，将切实保障供应商权益，稳定供应商预期，增强产业链韧性，进一步发挥产业 链"链长"作用，不断优化产业生态。 奇瑞集团表示，以账期规范化、执行全链化、 ...