Weilai’s financial difficulties

Weilai's financial situation is worrying. According to the third quarter report of 2024, Weilai's cash and cash equivalents balance is 42.2 billion yuan, but its net loss has reached 5.06 billion yuan. At the same time, Weilai's short-term loan balance is 6 billion yuan, the current balance of long-term loans is 4.23 billion yuan, and the balance of accounts payable and bills is 30.2 billion yuan. The total of these debts is equivalent to cash reserves, indicating that Weilai's capital chain is tight.