Research On Internal Correlation And Comprehensive Value Of Performance Of New Energy Vehicles Listed Companies

Faced with the pressure of global energy shortage and environmental degradation,China has actively faced challenges as a major automobile country,proposed a new energy vehicle development strategy,and gave a series of policy benefits and support to promote the development and growth of the new energy automobile industry,so companies have entered the new energy auto industry one after another,but some companies are only greedy for the dividends of the national policy.They do not have the corresponding financial level and R&D technology support.This not only affects their own sustainable operation,but also is not conducive to the internal coordination of the new energy auto industry development,at the same time,has also caused waste of resources to a certain extent.Therefore,it is very necessary to give relevant evaluations to the comprehensive value of listed companies in the new energy auto industry,and introduce scientific methods to study the internal development linkage of the industry.This is for the decision-making of the operators,or the government to select leading enterprises and coordinate the industry structure,or investors can choose to invest in the investment.Therefore,it is of great practical significance to evaluate the comprehensive value of the listed companies of new energy vehicles and the internal correlation of the industry.This paper is based on the new energy automobile industry chain.According to the relevant information disclosed in the 2013-2017 new energy vehicle listed company annual report,the new energy automobile industry is divided into three categories: battery motor electric control,complete vehicle,and provide supporting facilities and services,and as the basis of internal related research;Secondly,constructing a comprehensive evaluation index system for new energy vehicles combining financial indicators with industry characteristics indicators,and using factor analysis to evaluate the financial performance of new energy vehicle listed companies in 2013-2017.At the same time,correcting financial performance by constructing a correction factor using industry-specific indicator data compiled from the annual report.Then,the score of the comprehensive value of the new energy vehicle listed company is evaluated;Finally,introducing RBF neural network to study the internal relationship of new energy auto industry,in view of the large difference in the number of enterprises in the new energy automobile industry,here is determined to mainly study the performance correlation between new energy vehicle complete vehicle listed company and battery listed companies,and use the above-mentioned comprehensive value evaluation to obtain the relevant results as the input and output data of the network,so establishing the following two networks when studying the internal correlation of the performance of new energy vehicle listed companies: one is based on the financial common factor of the whole vehicle enterprise,the comprehensive value of the battery enterprise is the output,and the other is the financial common factor of the battery enterprise as input,the comprehensive value of the vehicle enterprise is output,and the two established networks are used to further study the influence direction and influence range of the different changes of the input value on the output value.Using the above model to empirically analyze the 2013-2017 data of listed companies in the new energy vehicle concept segment,getting the rankings of the 107 listed companies' comprehensive value and the listed companies with outstanding performance in relevant financial indicators or industry characteristics indicators;In the further performance-related research,it is found that both RBF neural networks can effectively simulate the nonlinear relationship between the performance of the whole vehicle and battery companies in the new energy vehicle industry,including: through the use of the first network discovery,the comprehensive value of battery companies is affected by the financial performance of vehicle manufacturers,showing a positive trend,and the comprehensive value of battery companies is greatly affected by the growth capacity and operating capacity factors of vehicle manufacturers;through the use of the second network,the comprehensive value of vehicle companies is also affected by the financial performance of battery companies,and it is in a positive trend.Among them,the output value is also the most affected by the growth factor change,followed by the solvency factor.Finally,based on the research results,relevant opinions and suggestions were given to operators,governments and investors.