Research On Financial Risk Evaluation Of Listed Companies In New Energy Industry

With the advancement of world's industrialization process,the contradiction between the increasing energy demand and the shortage of energy supply has been increasingly prominent.The world energy structure is undergoing a transformation from traditional energy to new energy.With the rapid development of economy,China is facing a series of issues concerned with resource and environment.Under the guidance of the concept of sustainability together with the strong support of national policies,China's new energy industry is meeting an unprecedented opportunity.However,due to the dual impact of marketing and technology environment,new energy industry is confronted with higher risks and challenges compared with traditional industries.As the main microcosmic part of the industry,the development status of new energy enterprises determines the future trend of the industry.Therefore,in order to improve anti-risk capacity and achieve long-term development of new energy industry,it is of great significance to focus on the financial risk of new energy enterprises and build a financial risk evaluation system fitting with their development features.Based on the theory of financial risk,the paper analyzes the development status and the existing problems of China's new energy industry,and identifies the financial risks of China's new energy listed companies from the following five aspects: debt repayment,profit,operation,development and innovation.Then,under the guidance of financial indices classification from enterprise performance appraisal and in combination with the features of new energy industry,the financial risk evaluation system for new energy listed companies is constructed.Taking 62 companies as research objects,sampling relevant data in 2017,the paper applies entropy method to carry out an evaluation and analysis in terms of financial risk.The study shows that innovation ability index and operation ability index play a key role in financial risk evaluation of new energy listed companies.High financial risk exists in China's new energy industry and it is affected by the level of regional economic development.Finally,Shanghai Taisheng Wind Power Equipment Co.,Ltd.has been selected as a representative case for horizontal and vertical analysis considering its financial risk.At the same time,targeted countermeasures and suggestions have been put forward so as to provide references concerned with financial risk prevention and control for the whole new energy industry.