AsianFin -- Shares of auto supply chain companies in China’s A-share market surged further on Tuesday, fueled by growing momentum around payment reforms in the industry.

Tongxin Transmission soared nearly 30%, while Meichen Technology and Shenzhen Sine Electric hit the daily 20% limit. Huayang Transmission jumped close to 14%, and a slew of other suppliers — including Disenli, QuanFeng Auto, Jin Qilin, Sunra, Western Shanghai, Tongda Electric, Helitech, and Yingli Auto — all surged by the 10% daily cap.

The rally comes as more automakers pledge to shorten payment cycles to their suppliers. According to industry data, 16 automakers have now committed to standardizing payment terms to within 60 days — a move widely seen as easing financial pressure across the supply chain and boosting investor sentiment.