内卷王比亚迪:2500亿应付款背后的供应链之殇

资管网
Jun 05, 2025

比亚迪2025年一季度的财务报告上,2507.73亿元的应付账款赫然在目。这个数字比去年末的2416.43亿元又攀升了一步,更比2020年末的429.83亿元暴增近5倍。如今,这笔相当于企业总负债42.2%的巨款,每天都让供应商处于煎熬之中。表面看是比亚迪的“无息负债”盛宴,实则是整个中国汽车行业深陷内卷泥潭的缩影——当头部车企付款周期不断延长,数量庞大的中小供应商在双重挤压下苦不堪言。​财务表象...

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