On May 5, Suning suspended, and after the resumption of trading on May 6, Suning will officially change its name: "ST". After being ST, Suning's financing ability will deteriorate further, first, public funds will be forced to clear, and then seriously affect the bank credit evaluation.What's more, the company also faces billions of arrears of 18% annualized punitive overdue interest payments to micro, small, and medium-sized enterprises. Lawyers already filed the applicaiton of 18% overdated rate and accepted by the people court. According to Article 15 of the Regulations on the Protection of Payment for Small and Medium-sized Enterprises, " Government offices and public institutions and large enterprises shall delay the payment of small, medium and micro enterprises, and shall pay overdue interest.If the parties have an agreement on the overdue interest, they agree that the interest shall not be lower than the market quoted rate of the one-year loan concluded by the contract, and the overdue interest shall be paid by 5 / 10,000 at the daily interest rate."Suning has not signed written contracts with many small and medium-sized suppliers, and many suppliers with contracts have no agreed interest, a large part of which meet the daily interest of 50.000, which is 18%, which can be a punitive interest rate. The 18% punitive interest rate is the accompanying debt of the stock liabilities, and it is the incremental debt. Whether it is economic depends on the current level of receivables and financing costs of Suning.According to the annual report of Suning Tesco, the gross profit of its main business in 2021 is 2.58%, the gross profit of other businesses is 4.36%, and the comprehensive gross profit rate is 6.94%. The net profit is even less or even negative, unable to bear the punitive interest rate of 18%.From the financing cost, 18% is also Suning cannot afford. More importantly, a considerable proportion of the funds were taken to litigation preservation measures, the judicial freeze, can not be avoided. In extreme cases, if Suning Tesco bankruptcy liquidation, it can not be completed in a short time, 18% every year, 54% in three years!Equal to give half the more debt!If we tolerate Suning's default and continue to default on money to small and medium-sized enterprises, it is undoubtedly equivalent to indulging Suning's management and taking investors' money as a joke!In this regard, not only the directly responsible managers, including the three independent directors of the company, the board of supervisors and the intermediary agencies should be held responsible for the duty of diligence and loyalty.