Recently, the financial challenges faced by BYD's Shandong dealer group, Jinan Qiancheng Automobile Trading Co., Ltd. (hereinafter referred to as "Jinan Qiancheng"), have garnered significant attention within the industry. In an announcement dated April 17, the company attributed its financial difficulties to recent adjustments in BYD's dealer policy over the past two years, which have substantially increased the pressure on cash flow management. Additionally, the prevailing financial distress among automobile dealers in Shandong, coupled with tightened bank credit and blocked financing channels, has further compounded these issues. Consequently, hundreds of car owners have encountered disruptions in service or delays in deposit refunds.

BYD has officially responded, clarifying that Jinan Qiancheng's excessive expansion and leveraged operations have resulted in a disrupted capital chain. The company emphasized that it is actively assisting in addressing these related issues to safeguard the rights and interests of affected car owners.