This week (March 13, 2026–March 19, 2026), multiple enterprises in the solid-state battery sector were active: Dali Times commenced construction of a 2 GWh specialized semi-solid-state battery base; EVE’s Longquan Phase III/IV all-solid-state batteries rolled off the line in Chengdu; Chery released its 600 Wh/kg Rhino all-solid-state battery technology。

According to statistical analysis by CAAM, in January 2026, the top 10 enterprises (groups) in terms of auto sales sold a total of 1.962 million units, accounting for 83.6% of total auto sales. Among these ten enterprises, compared with the same period last year, SAIC, Geely Holding, Dongfeng, GAC Group, and Great Wall Motor saw varying degrees of growth in sales, while the other enterprises experienced varying degrees of decline.

SMM June 17 news: Metal market: Domestic base metals showed mixed performance overnight, with SHFE tin slightly down. SHFE copper rose 0.45%. SHFE nickel fell 0.48%. SHFE lead gained 0.35%. SHFE aluminum edged down 0.02%, while SHFE zinc advanced 0.62%. Additionally, the most-traded alumina futures contract increased 0.18%, and the most-traded cast aluminum contract climbed 0.64%. Overnight ferrous metals series mostly rose, with iron ore up 0.07%, stainless steel down 0.2%, rebar gaining 0.17%, and HRC slightly higher. For coking coal and coke: coking coal rose 1.08%, coke increased 0.85%. Overnight overseas market metals saw LME base metals generally rise, with LME copper up 0.52%, LME aluminum gaining 0.56%, LME lead rising 0.8%, LME zinc jumping 1.41%, while LME tin fell 0.44% and LME nickel declined 0.42%. Overnight precious metals: COMEX gold dropped 1.4%; COMEX silver edged up 0.04%. SHFE gold fell 1.37%, SHFE silver decreased 0.08%. As of 8:15 am June 17, overnight closing quotes 》Click to view SMM futures data dashboard Macro front Domestic: [Notice: MOFCOM to hold press conference on 19th regarding key work in commerce sector] The Ministry of Commerce will hold a press conference at 3 pm on Thursday, June 19, 2025, where its spokesperson will introduce recent key work in the commerce sector and take questions from reporters. [NAFMII convenes symposium on supporting high-quality development of automakers in China's interbank market] NAFMII held a symposium on June 16, 2025, discussing interbank market support for high-quality development of automakers. Representatives from automakers and lead underwriters attended, with the meeting chaired by NAFMII Vice President Zhong Xu. The association presented interbank market support for the automotive industry. Representatives from 9 companies - FAW, SAIC, BAIC Group, BYD, Geely Holding, Great Wall Motor, NIO Group, XPeng Motors, and Xiaomi Group - described challenges faced amid cut-throat competition and proposed suggestions for optimizing financing environment. Lead underwriters conducted on-site matchmaking for automakers' financing needs. Next, NAFMII will implement the Party Central Committee and State Council's strategic deployment on developing new quality productive forces through technological innovation, strengthen bond market system building and product innovation, optimize financial services tailored for the automotive sector, encourage automakers to increase bond financing while maintaining healthy development and avoiding disorderly competition, and actively promote intelligent, high-end, green transformation to advance China's automotive industry toward high-quality development. Cailian Press) [CPCA: 52,000 Pickup Trucks Sold in May, Up 13.6% YoY] According to data from the China Passenger Car Association (CPCA), in May 2025, 51,700 pickup trucks were produced nationwide, up 20.8% compared to May 2024. From January to May 2025, 255,000 pickup trucks were produced, up 23.4% YoY. In May 2025, 52,000 pickup trucks were sold in the market, up 13.6% compared to May 2024, and down 8.1% MoM from the previous month, remaining at a high level in the past five years. From January to May 2025, 258,000 pickup trucks were sold, up 18.2% YoY compared to January-May 2024. [Goldman Sachs Bullish Again: Global Capital Returns to China, Optimistic About China's "Top 10" Stocks] Kinger Lau, Chief China Equity Strategist at Goldman Sachs, recently released a research report titled "The Return of China's Private Enterprises: The Tide Has Turned." Lau pointed out that driven by various macro, policy, and micro factors, the medium-term investment prospects for China's private enterprises are improving. Goldman Sachs has listed China's "Top 10," namely the ten Chinese private publicly listed firms that Goldman Sachs is particularly bullish on. They are: Tencent, Alibaba, Xiaomi, BYD, Meituan, NetEase, Midea, Hengrui Medicine, Ctrip, and Anta. 》Click for details US Dollar: The US dollar index rose 0.03% overnight, closing at 98.15. The market is focused on the tense situation between Israel and Iran, as well as the US Fed's policy meeting this week. The Fed meeting will conclude on Wednesday. The market generally expects the Fed to keep interest rates unchanged. However, the market will be watching how the Fed views recent data, which generally indicate softening economic activity, but the risk of rising price pressures remains high. Other Currencies: Leaders of the Group of Seven (G7) began their annual summit in Canada. With about three weeks left until Trump's deadline for trade agreements, the market remains nervous as agreements with major trading partners such as the EU and Japan have not yet been signed. They will be looking for any progress made in any bilateral talks with the US on the sidelines of the G7 leaders' summit. (Webstock Inc.) Data: Today, data such as the Bank of Japan's policy benchmark interest rate on June 17, the ZEW Economic Sentiment Index for the Eurozone in June, the ZEW Economic Sentiment Index for Germany in June, the US monthly import price index for May, the US annual import price index for May, the US monthly retail sales for May, the US monthly core retail sales for May, the US annual retail sales for May, the US monthly retail sales control group associated with GDP for May - seasonally adjusted, the US monthly industrial output for May, the US capacity utilization rate for May, the US monthly manufacturing output for May, the US manufacturing capacity utilization rate for May, and the US annual industrial output for May - seasonally adjusted, will be released. In addition, it is worth noting that: Today, 182 billion yuan of one-year medium-term lending facility (MLF) matured; Bank of Japan Governor Kazuo Ueda held a monetary policy press conference; the Bank of Japan announced its interest rate decision; US President Trump visited Canada from June 15 to 17 to attend the G7 Leaders' Summit. Crude oil: Both WTI and Brent crude oil futures fell, with WTI down 2.06% and Brent down 2.33%. Market concerns about disruptions to crude oil supplies in the Middle East eased, leading to a decline in oil prices. The US Navy said on Monday that electronic interference with commercial shipping navigation systems around the Strait of Hormuz had surged in recent days, affecting vessels passing through the area. Approximately one-fifth of global oil consumption, or about 18-19 million barrels per day (bpd) of oil, condensate, and fuels, passes through the Strait. Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), currently produces about 3.3 million bpd of oil and fuels and exports more than 2 million bpd. Analysts and OPEC observers said that the spare capacity of OPEC oil-producing countries to increase production to offset any disruptions is roughly equivalent to Iran's production. A preliminary survey showed that US crude oil and distillate inventories likely fell last week, while gasoline inventories may have increased. Before the weekly inventory report was released, the average forecast of four surveyed analysts was that US crude oil inventories increased by about 600,000 barrels in the week ending June 13. US distillate inventories, including diesel and heating oil, were expected to decrease by about 100,000 barrels, while gasoline inventories were expected to increase by 200,000 barrels. The American Petroleum Institute (API) will release its weekly crude oil inventory report at 4:30 AM Beijing time on Wednesday, and the US Energy Information Administration (EIA) will release its weekly crude oil inventory report at 10:30 PM Beijing time on Wednesday. (Webstock Inc.)

On June 10 local time, Li Chenggang, the International Trade Representative and Vice Minister of Commerce, said in London, when referring to the first meeting of the China-U.S. economic and trade consultation mechanism, that China and the United States had conducted professional, rational, in-depth, and candid communications. The two sides reached a framework in principle on implementing the consensus reached during the phone call between the heads of state of the two countries on June 5, as well as the consensus reached during the Geneva talks.

SMM News on June 11: In the morning of June 11, the auto parts sector surged rapidly, with the index rising nearly 3% at one point during the trading session, and individual stocks experiencing a wave of strong limit-up rallies. By the end of the day's trading, the auto parts index had risen by 2.32%. Among individual stocks, 10 stocks including Tongxin Transmission, Meichen Technology, Dishengli, and Jinqilin hit their daily limits, while multiple stocks such as Zhejiang Huayuan, Xiangyang Bearing, and Lizhong Group followed suit with gains. The reasons behind all these developments are closely tied to the collective "voices" of dozens of automakers yesterday and today. It is reported that on the evening of June 10, four automakers, namely FAW Group, Dongfeng Motor, GAC Group, and Seres, issued separate statements committing to "payment terms not exceeding 60 days." On June 11, a host of automakers including BYD, Great Wall Motor, Xiaomi Auto, XPeng Motors, Chery Group, Leap Motor, BAIC Group, Li Auto, and NIO also followed suit, issuing announcements mentioning their decision to "unify supplier payment terms to within 60 days." In the announcements of these enterprises, many mentioned their active response to the "Regulation on Ensuring Payments to Small and Medium-sized Enterprises" issued by the State Council. Public information shows that the "Regulation on Ensuring Payments to Small and Medium-sized Enterprises" was revised and adopted at the 43rd executive meeting of the State Council on October 18, 2024, and came into effect on June 1, 2025. It clearly stipulates that large enterprises shall not exceed 60 days for the payment of project funds. Meanwhile, they shall not force small and medium-sized enterprises to accept non-cash payment methods such as commercial bills of exchange to extend payment terms in disguise. Undoubtedly, the automakers' collective response to the decision to "unify supplier payment terms to within 60 days" is undoubtedly a significant positive for auto parts enterprises. On the one hand, the shortening of automakers' payment terms allows parts suppliers to receive payments as quickly as possible, accelerating the speed of capital inflows. Suppliers can use the recycled funds to purchase raw materials, avoiding shortages in raw material supply due to capital constraints that could affect production schedules. This can expedite the capital turnover of auto parts enterprises and reduce the risk of production halts caused by financial constraints. Additionally, it can enhance the operational stability of auto parts enterprises and promote the coordinated development of the entire automotive supply chain. CITIC Securities commented on this, stating that automakers' active response to policies indicates that the automotive industry has entered a stage of high-quality development. Dai Chang from Guohai Securities pointed out that under the catalysis of the trade-in policy in 2024, passenger vehicle sales exceeded expectations. With the continuation of the trade-in policy in 2025, it will support the upward trend in automotive consumption. The industry is expected to remain highly prosperous throughout the year, and we continue to be optimistic about opportunities in the auto sector, particularly high-quality parts suppliers with upward operating cycles. Additionally, according to information from Cailian Press, data released by the China Automobile Manufacturers Association (CAAM) showed that in May 2025, China's automobile production and sales reached 2.649 million units and 2.686 million units, respectively, up 1.1% MoM and 3.7% MoM, and up 11.6% YoY and 11.2% YoY. From January to May, automobile production and sales totaled 12.826 million units and 12.748 million units, respectively, up 12.7% YoY and 10.9% YoY. In terms of new energy vehicles (NEVs), production and sales in May reached 1.27 million units and 1.307 million units, respectively, up 35% YoY and 36.9% YoY. NEV sales accounted for 48.7% of total new vehicle sales. From January to May, NEV production and sales totaled 5.699 million units and 5.608 million units, respectively, up 45.2% YoY and 44% YoY. In terms of exports, China exported 551,000 vehicles in May, up 6.6% MoM and 14.5% YoY. From January to May, total vehicle exports reached 2.49 million units, up 7.9% YoY. SMM summarized the key points of the announcements from several automakers as follows: [FAW Group: Fulfilling Responsibilities, Building a Healthy Supply Chain Ecosystem] FAW Group announced that as a large state-owned automotive enterprise group, it has always regarded suppliers as its closest partners, adhering to the principles of shared destiny and mutual benefit to achieve high-quality development together. Recently, national ministries and commissions, including the Ministry of Industry and Information Technology (MIIT) and the State-owned Assets Supervision and Administration Commission (SASAC), have issued a series of deployment requirements to ensure the stability of the industrial and supply chains and promote high-quality development of the automotive industry. FAW Group has resolutely implemented these requirements, continuously optimizing its internal procurement and financial settlement processes to maintain a healthy and stable market economic order. Firstly, it has improved mechanisms and strengthened execution by clarifying payment terms and methods, setting a "60-day payment" requirement for affiliated units, and enhancing financial supervision and process management. Secondly, it has optimized processes to improve efficiency by strengthening internal coordination among departments such as procurement and finance, further streamlining approval processes, and ensuring smooth payment procedures. Thirdly, it has leveraged technology for precise control by fully utilizing digital cloud workbenches to achieve real-time monitoring of nodes throughout the entire process, including contract execution, invoice matching, and payment applications, ensuring that all payables are paid on schedule. [Dongfeng Motor: Fulfilling Central State-Owned Enterprise Responsibilities, Unifying Payment Terms to Within 60 Days!] On June 10, to thoroughly implement the spirit of national policies and support the healthy development of small and medium-sized enterprises, Dongfeng Motor Corporation (hereinafter referred to as Dongfeng Motor) officially announced that it would unify payment terms to within 60 days. This move is an important initiative by Dongfeng Motor to actively respond to the Regulations of the State Council on Ensuring Payments to Small and Medium-sized Enterprises, aiming to drive efficient capital flow between upstream and downstream enterprises through concrete actions and facilitate the coordinated development of the industry chain. [GAC Group: A Solemn Commitment on Supplier Payment Terms] GAC Group has consistently been committed to providing customers with safe and high-grade products and services. The healthy development of the supply chain system is the foundation for ensuring product safety and quality. To this end, GAC Group will, as always, adhere to a supplier payment term of no more than 60 days to ensure efficient capital turnover in the supply chain. It will work hand in hand with upstream and downstream partners to jointly promote the high-quality development of the industry. [Seres: An Initiative on Jointly Promoting High-Quality Industry Development] Seres actively responds to the Initiative on Maintaining Fair Competition Order and Promoting Healthy Industry Development issued by the China Association of Automobile Manufacturers. The achievements made by China's NEV industry have not come easily. We call for a more orderly marketization, with enterprises strengthening self-discipline to jointly promote the high-quality development of the industry. We are willing to continue working hand in hand with industry peers to jointly maintain a fair and orderly market environment and build a new era of intelligent electric mobility! Seres is actively promoting product integration and intelligent manufacturing clustering, effectively facilitating the coordinated development of upstream and downstream enterprises in the industry chain and enhancing the competitiveness of the entire industrial cluster. Seres has been making payments in accordance with contractual agreements with suppliers, with a normal payment term of 60 days, achieving a win-win situation for both OEMs and suppliers. [BYD: Fulfilling Social Responsibilities and Promoting High-Quality Industry Development] To implement a series of deployment requirements made by the state and relevant ministries on ensuring the stability of the industry chain and supply chain and promoting the high-quality development of the automotive industry, and to support the healthy development of small and medium-sized enterprises, BYD Auto announced that it will unify supplier payment terms to within 60 days. BYD stated that it will drive the high-quality development of China's automotive industry through concrete actions. In the future, BYD Auto will continue to promote the steady and long-term development of China's automotive industry through technological innovation and management optimization, working hand in hand with upstream and downstream partners. [Great Wall Motor: A Commitment to Unifying Payment Terms to Within 60 Days] To thoroughly implement the Regulations of the State Council on Ensuring Payments to Small and Medium-sized Enterprises, Great Wall Motor Co., Ltd. announced that it will unify supplier payment terms to within 60 days to ensure the stability of the automotive industry chain and supply chain, promote fair market competition, stimulate innovation vitality, and improve development efficiency. [Xiaomi Auto: Unifying Supplier Payment Terms to Within 60 Days] Xiaomi Auto announced on its official Weibo account that it will resolutely implement the deployment requirements made by the state and relevant competent departments on promoting the high-quality development of the automotive industry and ensuring supply chain stability, unifying supplier payment terms to within 60 days. [Chery Group: Unifying Supplier Payment Terms to Within 60 Days] Chery Group stated that recently, national ministries and commissions, including the Ministry of Industry and Information Technology (MIIT) and the State-owned Assets Supervision and Administration Commission (SASAC), have made a series of deployment requirements to ensure the stability of the industry chain and supply chain and promote the high-quality development of the automotive industry. Chery Group is resolutely implementing these requirements and has decided to unify supplier payment terms to within 60 days starting from June 10, in order to accelerate the capital turnover efficiency of the industry chain and ensure the stability of the industry chain and supply chain. [Leap Motor: Will Continue to Adhere to the "60-Day Payment" Principle to Ensure Efficient and Smooth Payment Processes] Leap Motor posted on Weibo that it will continue to adhere to the "60-Day Payment" principle, with zero arrears as the standard, streamline the approval process, continuously strengthen departmental collaboration, and ensure efficient and smooth payment processes. [Li Auto: Will Continue to Implement Payment Terms Within 60 Days] Li Auto posted on Weibo that it has always been committed to creating safer, more comfortable, and more convenient products and services for users. Li Auto will continue to implement payment terms within 60 days and work with industry partners to jointly promote the high-quality development of China's automotive industry. [NIO: Will Continue to Implement Payment Terms Within 60 Days] NIO posted on Weibo that it is committed to becoming a user enterprise leading in technology and experience, existing for user satisfaction, developing ultimate products through technological innovation, providing services that exceed expectations, and building a community for common growth. The healthy development of the supply chain system is the foundation for ensuring product quality and enhancing user experience. NIO will continue to implement payment terms within 60 days and work with upstream and downstream partners to jointly promote the high-quality development of China's automotive industry, creating a sustainable and better future together. [XPeng Motors: Will Unify Payment Terms to Within 60 Days] XPeng Motors posted on Weibo that in order to actively respond to and implement a series of deployment requirements from the state and relevant departments aimed at promoting the high-quality development of the automotive industry, ensuring the stability of the industry chain and supply chain, and supporting the healthy development of small and medium-sized enterprises, XPeng Motors has announced that it will unify payment terms to within 60 days. As a "pioneer in future mobility," XPeng Motors will actively fulfill its corporate social responsibility and commitment, striving to empower the industry chain and upstream and downstream partners through AI technological innovation, and jointly promoting the steady and far-reaching high-quality development of China's automotive industry. [BAIC Group: Strictly Adhering to Settlement Within 60 Days for All Qualified Partners Starting Today] BAIC Group posted on Weibo that starting today, it will strictly adhere to settlement within 60 days for all qualified partners, comprehensively cancel unreasonable settlement methods such as commercial acceptance bills that increase the financial pressure on suppliers, and alleviate the cash flow pressure on small and medium-sized suppliers. Below are screenshots of announcements from major automakers:

Today, multiple automakers including BYD, Great Wall Motor, XPeng Motors, Xiaomi Auto, Chery Group, and BAIC Group issued statements on the same day, committing to "payment terms not exceeding 60 days." Yesterday, six automotive producers, namely China FAW Group Corporation Limited, Dongfeng Motor Corporation Limited, Guangzhou Automobile Group Co., Ltd., Seres Group Co., Ltd., Geely Auto Group, and Changan Automobile, issued statements on the same day, making the same commitment. As of now, over 10 automakers have made relevant commitments. BYD: Unifying supplier payment terms to within 60 days According to BYD's official Weibo account, in order to implement a series of deployment requirements made by the state and relevant ministries and commissions to ensure the stability of the industry chain and supply chain and promote the high-quality development of the automotive industry, and to support the healthy development of small and medium-sized enterprises, BYD announced that it would unify supplier payment terms to within 60 days. BYD stated that it would take concrete actions to promote the high-quality development of China's automotive industry. In the future, BYD will continue to work with upstream and downstream partners to jointly drive the steady and long-term development of China's automotive industry through technological innovation and management optimization. Great Wall Motor: Committing to unify payment terms to within 60 days Great Wall Motor Co., Ltd. announced that it would unify supplier payment terms to within 60 days to ensure the stability of the automotive industry chain and supply chain, promote fair market competition, stimulate innovation vitality, and improve development efficiency. Xiaomi Auto: Unifying supplier payment terms to within 60 days Xiaomi Auto's official Weibo account announced that it would resolutely implement the deployment requirements made by the state and relevant competent authorities to promote the high-quality development of the automotive industry and ensure the stability of the supply chain, unifying supplier payment terms to within 60 days. XPeng Motors: Unifying payment terms to within 60 days XPeng Motors stated that in order to actively respond to and implement a series of deployment requirements made by the state and relevant departments to promote the high-quality development of the automotive industry, ensure the stability of the industry chain and supply chain, and support the healthy development of small and medium-sized enterprises, XPeng Motors announced that it would unify payment terms to within 60 days. Chery Group: Unifying supplier payment terms to within 60 days Chery Group issued a statement saying that recently, national ministries and commissions such as the Ministry of Industry and Information Technology (MIIT) and the State-owned Assets Supervision and Administration Commission (SASAC) have made a series of deployment requirements to ensure the stability of the industry chain and supply chain and promote the high-quality development of the automotive industry. Chery Group resolutely implements these requirements and has decided to unify supplier payment terms to within 60 days starting from June 10th to accelerate the capital turnover efficiency of the industry chain and ensure the stability of the industry chain and supply chain. Leap Motor: Will adhere to the "60-day payment" principle as always to ensure efficient and smooth payment processes Leap Motor posted on Weibo that it would adhere to the "60-day payment" principle as always, with zero arrears as the standard, streamline the approval process, continuously strengthen interdepartmental collaboration, and ensure efficient and smooth payment processes. BAIC Group: Strictly fulfill settlement within 60 days for all partners meeting payment conditions from today onwards BAIC Group stated that from today onwards, it would strictly fulfill settlement within 60 days for all partners meeting payment conditions, comprehensively cancel unreasonable settlement methods such as commercial acceptance bills that increase the financial pressure on suppliers, and alleviate the cash flow pressure on small and medium-sized suppliers. Li Auto: Will continue to implement a payment term within 60 days Li Auto stated that it would continue to implement a payment term within 60 days and jointly promote the high-quality development of China's automotive industry with industry partners. NIO: Will continue to implement a payment term within 60 days NIO posted on Weibo that it would continue to implement a payment term within 60 days and work together with upstream and downstream partners to jointly promote the high-quality development of China's automotive industry. SAIC: Unifies supplier payment terms to within 60 days, does not use commercial acceptance bills SAIC announced in an article on its official WeChat official account that, in order to actively implement the national decision-making and deployment to ensure the stability of the industrial chain and supply chain and promote the high-quality development of the automotive industry, it would unify supplier payment terms to within 60 days and not adopt settlement methods such as commercial acceptance bills that increase the financial pressure on suppliers. It would fulfill its responsibilities as a state-owned enterprise with practical actions, ensure the high-quality and efficient circulation of funds for upstream and downstream enterprises, and promote better collaborative operation among partners. FAW Group: Sets "60-day payment" as the payment term requirement for affiliated units FAW Group stated in an article that it would continuously optimize internal procurement and financial settlement processes and take practical actions to maintain the healthy and stable order of the market economy. First, it would improve mechanisms and strengthen implementation. It would clarify payment terms and payment methods, set "60-day payment" as the payment term requirement for affiliated units, and strengthen fund supervision and process management. Second, it would optimize processes and improve efficiency. It would strengthen internal collaboration among departments such as procurement and finance, further streamline approval links, and ensure unobstructed payment processes. Third, it would leverage technology for precise control. It would make full use of the digital cloud workbench to achieve real-time monitoring of the entire process nodes, including contract execution, invoice matching, and payment applications, to ensure that every payable is paid on schedule. Dongfeng Motor: Payment Terms to Be Unified to Within 60 Days Dongfeng Motor announced that on June 10, in order to thoroughly implement the spirit of national policies and support the healthy development of small and medium-sized enterprises, Dongfeng Motor Corporation Limited (hereinafter referred to as Dongfeng Motor) officially declared that it would unify its payment terms to within 60 days. This move is an important initiative by Dongfeng Motor to actively respond to the "Regulations on Ensuring Payments to Small and Medium-sized Enterprises" issued by the State Council, aiming to promote the efficient circulation of funds upstream and downstream through practical actions and facilitate the coordinated development of the industry chain. Dongfeng Motor will actively fulfill its social responsibilities and obligations as a central state-owned enterprise, further leverage its role as the "leader" of the industry chain, and collaborate with upstream and downstream enterprises to build an automotive industry ecosystem with greater resilience and innovative vitality, injecting new momentum into the high-quality development of China's automotive industry. GAC Group: Adhering to Supplier Payment Terms of No More Than 60 Days to Ensure Efficient Capital Turnover in the Supply Chain GAC Group stated that it has always been committed to providing customers with safe and high-grade products and services. The healthy development of the supply chain system is the foundation for ensuring the safety and high grade of products. To this end, GAC Group will, as always, adhere to supplier payment terms of no more than 60 days to ensure efficient capital turnover in the supply chain, and work hand in hand with upstream and downstream partners to jointly promote the high-quality development of the industry. Seres: Payments Made in Accordance with Contractual Agreements with Suppliers, with Normal Payment Terms of 60 Days Seres announced that it is actively promoting product integration and intelligent manufacturing clustering, effectively facilitating the coordinated development of upstream and downstream enterprises in the industry chain and enhancing the competitiveness of the entire industrial cluster. Seres has consistently made payments in accordance with contractual agreements with suppliers, with normal payment terms of 60 days, achieving a win-win situation for both the OEM and suppliers. Changan Automobile: Unifying Supplier Payment Terms to Within 60 Days Changan Automobile announced that, together with its subsidiaries Changan Aepower, Changan Kaicheng, Deepal, and Avatr, it is declaring to the industry that it will unify supplier payment terms to within 60 days. Through practical actions, it will fulfill its social responsibilities as a central state-owned enterprise, ensure the efficient circulation of funds for small and medium-sized enterprises, facilitate the coordinated operation of the industry chain, and work together to promote the high-quality development of the industry. Geely Auto Group: Unifying Supplier Payment Terms to Within 60 Days Geely Auto Group stated that in order to actively respond to and implement the "Regulations on Ensuring Payments to Small and Medium-sized Enterprises" issued by the State Council and the "Initiative on Maintaining Fair Competition Order and Promoting the Healthy Development of the Industry" issued by the China Association of Automobile Manufacturers (CAAM), Geely Auto Group announced that it would unify supplier payment terms to within 60 days. This move aims to accelerate the efficiency of capital turnover in the industry chain, ensure the stability of the industry chain and supply chain, fulfill the responsibilities of a leading enterprise, and promote the high-quality development of the automotive industry.