With inventory averaging 35 days of sales and accounts payable averaging 45 days, the company has negative working capital needs.
FORBES: It's Nice To Be Big
Why does the manufacturing sector have high accounts payable days relative to other industries?
FORBES: Manufacturing Takes Its Time, High A/P Days
The loans have a 3% monthly interest rate or 36% APR and are payable in 30 days.
FORBES: Start-ups Talk Money, Cash, Credit At Finovate
Despite having raised all this cash in the IPO, Sinovel is now about 200 days late on its accounts payable.
FORBES: Investing In China Is Fraught With Business Landmines
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