Group 1 - The average accounts payable turnover days for 12 major automotive companies is 170 days, with the longest being BAIC Blue Valley at 248 days and Xpeng Motors at nearly 233 days [1] - 12 automotive companies have a cumulative accounts payable exceeding 1.1 trillion yuan, with BYD, SAIC Motor, and Geely Holding leading at 244 billion yuan, 241 billion yuan, and 182 billion yuan respectively [1] - The average accounts payable as a percentage of revenue for these companies exceeds 40%, with 11 out of 12 companies surpassing 30%, and some like Chery, Changan, and NIO reaching around 50% [1] Group 2 - 17 automotive companies have collectively committed to a 60-day payment term, which may alleviate supplier cash flow pressure but increase cash flow pressure on the companies themselves [2] - The automotive industry has a high average debt-to-asset ratio, with NIO and Seres projected to reach 87.45% and 87.38% respectively in 2024, while the industry average is 66.32% [2] - Other companies' debt-to-asset ratios for 2024 include BAIC Blue Valley at 75.33%, BYD at 74.64%, Geely Holding at 69.74%, and SAIC Motor at 63.77% [2]