BYD's official response: Rumors online are not true, and we are currently providing support to Qiancheng Group to ease their financial difficulties.

Recently, news about the financial problems of Jinan Qiancheng Automobile Trade Co., Ltd., a BYD Shandong dealer group, has attracted industry attention. On May 28th, relevant personnel from BYD Group's brand and public relations department responded to the matter: "The information circulating online is not true! Over the past few years, our policies towards dealers have been continuous and stable. It is understood that the dealer group experienced problems with its funding due to blind rapid expansion and leveraged operations. Since the end of last year, some 4S stores of the dealer group have been acquired by other local dealers. We are also providing support to the dealer group to help them handle the relevant issues of their customers and employees."