别让承诺掉在地上。 从6月10日晚间开始，17家头部自主品牌尽数出动，公开发表声明：承诺将供应商支付账期统一至60天 内。 有分析师对第一财经表示，对车企而言，延长供应商账期类似无形中获得了一笔"免息贷款"。车企借供 应链金融平台延长账期，一方面可以规避银行借贷利息，一方面将财务成本转移给产业链上的供应商或 者经销商。 业内人士分析称，车企给供应商付款的过程很复杂，中间有很多弯弯绕绕，可以卡供应商的节点且容易 滋生腐败问题。只承诺60天账期并不够，还需要承诺交付-验收-开票-支付整个供货过程的节点时间，保 障供应商真正拿到货款的到账时间是60天内，别让承诺掉在地上。 在各家车企的"60天账期承诺"中，大多数只有简单的一句"贯彻60天支付账期"，但具体的落地细则并没 有详细说明。一家车企负责人告诉记者，后续如何在各环节执行60天支付账期会进一步明确，但不会对 外界公示。 至于对供应商的结算方式，在近两日发布声明的17家车企中，只有上汽集团和北汽集团明确，不采用商 业承兑汇票等增加供应商资金压力的不合理结算方式。 在此背景下，供应商账款被拖长的困局似乎迎来曙光。但在车企轮流喊话式发声明的同时，也有声音疑 惑车企承 ...

Group 1 - The first meeting of the China-U.S. economic and trade consultation mechanism took place in London, with discussions led by Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Janet Yellen, focusing on key economic issues and reaching a consensus on measures to implement the important agreements from the June 5 call between the two countries' leaders [1] - In May, China's automobile production and sales reached 2.649 million and 2.686 million units respectively, showing a month-on-month increase of 1.1% and 3.7%, and a year-on-year increase of 11.6% and 11.2% [1] - Pop Mart's LABUBU series products are experiencing high demand, leading to tight factory capacity, despite the company's earlier capacity expansion efforts [1] - Fifteen major automotive manufacturers, including BYD, FAW Group, Geely, and Xiaomi, have committed to controlling supplier payment terms within 60 days, resulting in a significant rise in the A-share and Hong Kong stock markets for automotive and parts sectors [1] Group 2 - North Mining Technology has seen a three-day stock increase, with its static and rolling P/E ratios exceeding the industry average [2] - Suzhou Longjie has also experienced a three-day stock increase, with its TTM P/E ratio above the industry median [2] - Nanjing Commercial Travel has confirmed that it has no undisclosed significant information [2] - Gongchuang Lawn has shown significant irrational stock price fluctuations over seven consecutive trading days [2]

Core Points - The automotive industry is experiencing intense competition, leading to a "price war" where companies are reducing procurement prices and extending payment terms to suppliers, creating financial strain on the supply chain [3][4][6] - A new regulation, the "Regulations on Ensuring Payment to Small and Medium Enterprises," has set a payment deadline of 60 days, which is now being adopted by major automotive companies [2][8][9] Group 1: Industry Competition and Pricing Pressure - All 17 major domestic automotive companies have committed to a payment term not exceeding 60 days, reflecting the competitive pressure within the industry [2] - The price competition has led to a 10%-15% annual decline in component procurement prices, negatively impacting the financial health of upstream suppliers [3][4] - Automotive companies are increasingly pushing the financial burden onto suppliers, which has resulted in dissatisfaction among suppliers and a deterioration in service quality [4][7] Group 2: Payment Terms and Supplier Impact - The average accounts payable turnover days for 16 listed automotive companies reached 182 days, indicating that suppliers may wait up to six months for payment [6] - Some companies have extended payment terms beyond 100 days, exacerbating the financial pressure on suppliers [6][7] - The implementation of the new payment regulation aims to standardize payment terms to 60 days, which is expected to alleviate supplier financial stress and improve industry cash flow [8][9] Group 3: Responses from Automotive Companies - Dongfeng Motor has announced a unified payment term of 60 days in response to the new regulations, aiming to enhance the efficiency of capital flow within the supply chain [8] - SAIC-GM has maintained a consistent payment cycle of 40-60 days, demonstrating a commitment to timely payments to suppliers [9] - Industry experts believe that adhering to a 60-day payment term will promote healthier industry development and address existing financial challenges [9]

6 月 1 日， 国务院最新修订的《保障中小企业款项支付条例》 正式 施行。文件规定，机关、事业单位、大型企业应当自货物、工程、服务 交付之日起 60 日内支付款项。 这一消息引发车圈集体发声响应。 自 6 月 10 日起，广汽集团、中国一汽、东风汽车、赛力斯集团、比亚迪、长城汽车、小米汽车、小鹏汽 车等 十余家 车企纷纷宣布， 将给供应商的支付账期控制在 60 天以内 ， 以保障供应链资金高效周转，助力产业链良好协同发展。 若这一举措最终能落地，一方面供应链企业 "苦账期久矣"的情况将好转，缓解内卷式竞争。但另一方面，对于现金流欠佳的车企也会是重大 考验。 01 十多家车企相继表态 从时间线上来看， 6 月 10 日晚间，广汽集团、中国一汽、东风汽车、赛力斯等车企率先承诺将供应商账期缩短至 60 天以内。 随后至 6 月 11 日上午，比亚迪、吉利汽车、长安汽车、奇瑞汽车、小鹏汽车、长城汽车、小米汽车、北汽集团、零跑汽车、理想汽车、上 汽集团、蔚来、江汽等车企迅速跟进，共同拉开了中国汽车产业账期革命的序幕。截至发稿，响应该政策的车企数量仍在不断增加。 供应商账期被认为是汽车行业内卷竞争造成的恶劣结果之一，曾 ...

蔚来微博称，将持续贯彻60天以内的支付账期，携手上下游合作伙伴共同促进中国汽车产业高质量发 展。 ...

A股汽车整车股午后走强，江淮汽车午后封板涨停，上汽集团、北汽蓝谷、比亚迪、赛力斯等跟涨。消 息面上，近日，广汽集团、中国一汽、东风汽车、赛力斯、吉利汽车、比亚迪汽车、小米汽车等多家车 企集体发声，承诺供应商账期不超60天。 订阅A股市场资讯 +订阅 ...

专题：新浪财经上市公司研究院 出品：新浪财经上市公司研究院 作者：昊 6月10日晚，一汽、东风、广汽、赛力斯、吉利等多家车企集体宣布，将供应商付款账期统一压缩至60天内，响应国务院《保障中小企业款项支付条例》修 订版及汽车工业协会倡议。6月11日，小鹏、比亚迪等车企响应号召，也将付款账期压缩至60天内。 据了解，此前国内车企平均账期达170天以上，部分企业甚至超过240天，在传统模式下，供应商需承担6-12个月垫资压力，且常收到延期兑付的商业汇票。 2024年汽车行业利润率仅3.9%，远低于下游工业企业6%的平均水平，长账期加剧产业链资金链风险。这一举措直击行业痛点。 然而，截至发稿时，蔚来、北汽蓝谷、零跑、上汽、长城等上市乘用车企却在此次承诺中"缺席"。 值得注意的是，从最新财报看，上述未表态的车企多数存在"高负债、低现金、长账期"特征。 以资产负债率最高的蔚来为例，2024年末公司负债率87.45%，2025年一季度末进一步升至92.55%，2024年应付账款周转天数高达195天，远超其曾宣称 的"30天-90天"账期。 2024年，蔚来营业收入657.32亿，同比增长18.18%，实现净利润-226.5 ...

理想汽车表示，理想汽车始终坚持为用户打造更安全、更舒适、更便捷的产品与服务。我们将持续贯彻 60天以内的支付账期，与行业伙伴共同促进中国汽车产业高质量发展。 ...

随着国务院新修订的《保障中小企业款项支付条例》正式实施， 6月10日，东风、广汽、一汽、赛力斯等车企发布承诺：将供应商账期统一压缩至60天以 内。 东风汽车表示，此举是东风汽车积极响应国务院《保障中小企业款项支付条例》的重要举措，旨在以切实行动推动上下游资金高效流转，助力产业链良好 协同发展。 另外，广汽集团公开承诺，坚持以不超过60天的供应商账期，保障供应链资金高效周转。中国一汽表示，中国一汽表示，坚决贯彻落实，持续优化内部采 购与财务结算流程，以实际行动维护市场经济秩序健康稳定。一是完善机制，强化执行。明确付款期限和支付方式，将"60天付款"作为所属单位付款期限 要求，加强资金监督和过程管理。 汽车行业恰是账期问题的重灾区。如果账期延长，就有供应商资金链断裂的风险。账期压缩绝非简单的数字游戏。账期缩至60天，意味着每年释放极大的 流动性。 Wind用户在金融终端输入 EDB(经济数据库) 汇集国内外权威一手数据资源 搭配强大的指标计算和图形功能 频度跨越月、季、年度，可进行多角度比对 宏观和行业分析必备工具 修订后的《支付条例》不仅将60天账期明确写入法条，更建立"违约黑名单"制度——拖欠货款超过120天 ...

Core Insights - The Chinese automotive industry has maintained its position as the world's largest producer and seller for 14 consecutive years, leveraging new energy vehicles to lead the global transformation of the automotive sector [2][3] - A significant number of small and medium-sized parts suppliers are facing severe cash flow issues due to extended payment terms imposed by major manufacturers, leading to a silent "accounting war" [2][3] Group 1: Payment Terms and Regulations - Major automotive manufacturers are extending payment terms, pushing many suppliers to the brink of financial collapse. The State Council introduced the "Regulations on Ensuring Payment to Small and Medium Enterprises" in 2020, which was revised in March 2023 to strengthen payment responsibilities and improve regulatory mechanisms [3][4] - The revised regulations will take effect on June 1, 2025, providing hope for small and medium enterprises, although many remain skeptical about their enforcement [3][4] Group 2: Impact of Long Payment Terms - Long payment terms are exacerbated by practices such as "consignment," where suppliers must build warehouses near manufacturers, leading to increased inventory costs and cash flow issues [4][5] - The average payment cycle for suppliers can extend to 10 months, significantly increasing the financial burden on small and medium enterprises [5][8] Group 3: Comparison Between Domestic and Foreign Enterprises - Domestic automotive manufacturers typically have payment terms ranging from 90 to 120 days, while foreign joint ventures generally maintain shorter terms of 45 to 60 days. However, even foreign companies are beginning to adopt longer payment terms [6][10] - Suppliers working with foreign companies often experience better payment conditions, including upfront payments and quicker settlements, contrasting sharply with domestic practices [11][12] Group 4: Industry Challenges and Future Outlook - The prolonged payment terms are leading to systemic risks within the supply chain, as evidenced by the bankruptcy of several companies due to cash flow issues [5][13] - The current payment environment is detrimental to the competitiveness of small and medium enterprises, hindering their ability to invest in research and development [13][14] - There is a call for stricter enforcement of regulations and innovative supply chain financing solutions to alleviate the financial pressures faced by suppliers [13][14]