Core Viewpoint - Multiple automotive companies have announced a unified payment term of 60 days for suppliers to enhance the efficiency of capital turnover in the industry and promote sustainable development [1][2]. Group 1: Company Actions - BYD announced on November 11 that it will unify the payment term for suppliers to within 60 days to support the healthy development of small and medium-sized enterprises and contribute to high-quality development in the automotive industry [1]. - China FAW stated on October 10 that it will clarify payment deadlines and methods, implementing a "60-day payment" requirement to strengthen financial supervision and streamline approval processes [1]. - Dongfeng Motor has also committed to a 60-day payment term to facilitate efficient capital flow and enhance collaboration within the supply chain [2]. - Geely Auto Group announced its alignment with the State Council's regulations to unify supplier payment terms to 60 days, aiming to accelerate capital turnover and ensure supply chain stability [2]. - Other companies such as GAC Group, Seres Group, Changan Automobile, Chery Group, Great Wall Motors, Xpeng Motors, and Xiaomi Auto have also declared similar commitments to a 60-day payment term [2]. Group 2: Regulatory Context - The revised "Regulations on Ensuring Payment to Small and Medium-sized Enterprises" will take effect on June 1, 2025, mandating large enterprises to pay within 60 days of delivery and prohibiting coercive non-cash payment methods [2]. - The regulations aim to protect the rights of small and medium-sized enterprises and optimize the business environment [2]. Group 3: Industry Perspective - Experts believe that a payment term of no more than 60 days is a leading standard within the global automotive industry, and they hope that Chinese automotive companies will adhere to this commitment to foster a fair and healthy market environment [3].

Core Viewpoint - Over 10 automotive companies have announced a unified payment term of 60 days for suppliers to enhance cash flow efficiency in the industry and promote sustainable development [1] Group 1: Companies Involved - Companies such as BYD, FAW Group, Dongfeng Motor, Geely, GAC Group, Seres Group, Changan Automobile, Chery, Great Wall Motors, Xpeng Motors, and Xiaomi Auto have all committed to this initiative [1] Group 2: Industry Impact - The move is expected to stabilize the supply chain and foster collaborative development among upstream and downstream enterprises in the automotive industry [1]

Core Viewpoint - Major automotive companies, including Dongfeng Motor Group, have collectively announced a unified payment term of 60 days for suppliers, in response to the newly implemented regulations aimed at supporting small and medium-sized enterprises and promoting efficient capital flow within the industry [1][3][4]. Group 1: Industry Response - The announcement of a 60-day payment term has been adopted by several leading automotive companies, including China FAW, Seres Group, Geely, and Chery, indicating a growing trend among major players to enhance supply chain stability and efficiency [1][3]. - The revised regulations, effective from June 1, aim to ensure timely payments from large enterprises to small and medium-sized businesses, thereby optimizing the business environment [3][4]. Group 2: Payment Terms and Industry Standards - Historically, payment cycles in the automotive industry have been lengthy, with some companies experiencing payment terms as long as 300 days, significantly higher than international standards [5][6]. - For instance, domestic brands like Geely and Chery have average payment terms of 129.67 days and 142.88 days, respectively, compared to international companies like Volkswagen and Toyota, which have much shorter terms [5][6]. Group 3: Regulatory Framework - The new regulations encourage large enterprises to publicly commit to payment terms and methods for transactions with small and medium-sized enterprises, mandating payments within 60 days of delivery [4]. - Additionally, large enterprises are required to report overdue payments in their annual reports and integrate payment obligations into their risk management systems [4]. Group 4: Industry Collaboration and Future Outlook - Automotive companies are expressing a commitment to building a collaborative automotive value chain, aiming for high-quality development within the industry [8]. - Companies like Geely and Chery emphasize their roles in promoting fair competition and social responsibility, aligning with national policies to foster a healthier market environment [8].

Group 1 - Geely Auto Group commits to standardizing payment terms to within 60 days to enhance cash flow efficiency in the supply chain [1] - This initiative aligns with the State Council's regulations on ensuring timely payments to small and medium-sized enterprises and the China Association of Automobile Manufacturers' advocacy for fair competition [1] - The move aims to stabilize the supply chain and promote high-quality development in the automotive industry [1]