Chinese automakers' accounts payable turnover days generally increase

Caijing estimates that BYD (002594.SZ)'s accounts payable and bills payable turnover days will be 115 days in 2022, and will increase year by year thereafter. The average account period in the first three quarters of 2024 has been extended to 145 days. BYD, which is at the center of public opinion, is not the only automaker in the industry that requires long account periods. Caijing combed through Wind data and found that the average days for Chinese automakers to pay their bills has reached 182 days and continues to grow.