| In recent years,the construction of ecological civilization is the key link of the "five in one" overall layout of socialism with Chinese characteristics.With the rapid development of China’s economy,environmental protection has become a hot topic.The emergence and development of new energy vehicles,a new industry of automobile industry,has effectively improved the air pollution problem of traditional fuel vehicles due to harmful substances contained in automobile exhaust,which also caused many enterprises to participate in the development and production of new energy vehicles.As a leader in the new energy automobile industry,BYD’s profitability will remain stable and growing,whether it can break away from the dependence on government subsidies in the environment of gradual decline of government subsidies,and continue to maintain a leading position in the future development of the industry with its own R & D capabilities.On the basis of the overview of the relevant theories of profitability,taking the other three representative enterprises in the industry as the comparative object,this paper selects the financial data of 2015-2019 for five consecutive years,and analyzes the profitability of BYD from four aspects of profitability,structure,profitability and growth.Through the analysis,we find that BYD’s profitability has a certain growth trend but is not stable,its cost control ability is poor,its earning ability is relatively weak,and its income structure needs to be adjusted.In order to further verify the analysis conclusion,the analytic hierarchy process is used to make a comprehensive evaluation,and it is concluded that the profitability of BYD is only at the middle level in the industry.According to the internal and external reasons analyzed,BYD is suggested to reasonably control the period expenses from the source of production to reduce the production cost;highlight the core business on the premise of consolidating the advantages of the industry;clear up the accounts receivable and improve the cashearning ability. |
