Refund Crisis - The refund queue for consumers has exceeded 170,000 applicants, with a waiting period of 15-30 working days for refunds instead of the previously promised 10 days [1] - Major logistics companies like SF Express and JD.com have refused to accept the recall products due to them being classified as "dangerous goods" [2] - The company has closed its official flagship stores on platforms like Tmall, Taobao, and Pinduoduo, with only JD.com and Douyin remaining operational [2] Corporate Governance Issues - Key executives, including Chairman Lei Guiqiang, have been absent from work-related communications since April, raising concerns about asset transfer [4] - The company is facing a severe cash flow crisis, with only 12 million yuan remaining in accounts and direct losses from the recall exceeding 40 million yuan [6] Consumer Guidance - Consumers can confirm recall eligibility for specific models produced between June 5, 2023, and July 31, 2024, and should retain evidence for refunds [7] - A collective lawsuit is being prepared under the Consumer Rights Protection Law, seeking punitive damages [8] Regulatory Impact - The State Administration for Market Regulation has suspended the 3C certification for the company's fast-charging products, with a deadline for rectification set for September 13 [8] - The Civil Aviation Administration has banned the boarding of power banks without 3C certification, and 21 universities have prohibited the use of the involved products [8] Supply Chain Issues - The battery cell supplier, Amperex Technology, has been found to have violated regulations by using substandard materials, leading to safety concerns [9] - The company has not established a battery cell traceability system, which is critical for quality control [9] Industry Trends - The rate of non-compliance for online sold power banks has surged from 19.8% in 2020 to 43.6% in 2024, indicating a significant decline in product quality across the industry [10] - The pricing strategy of the company, with a 20,000mAh product priced at only 76 yuan, raises concerns about sustainability and quality compared to competitors [10] Systemic Issues - The lack of regulatory oversight on recall funds and the absence of bank custody for consumer deposits highlight systemic vulnerabilities in the recall process [11] - Consumers are urged to take immediate action by contacting regulatory authorities and demanding refunds on e-commerce platforms [11]