Financial Strategy Optimization Of BYD Company Under The Background Of "post-subsidy Era"

The 19 th National Congress of the Communist Party of China proposed that "we should build a market-oriented system of green technology innovation and strengthen the energy conservation and environmental protection industry".The massive use of traditional fuel cars makes the global energy shortage,environmental pollution and other problems increasingly serious,with energy saving,environmental protection advantage of new energy vehicles emerged.With the strong support of government subsidies,China’s new energy vehicle industry has developed rapidly and on a large scale.In 2019,China’s production and sales of new energy vehicles declined for the first time since 2011,with the decline in government subsidies being one of the main reasons.In view of this,the four ministries and commissions jointly issued the notice on improving the Fiscal Subsidy Policy for the promotion and application of new energy vehicles（Finance [2020]86）,extending the subsidy implementation period,in principle,the subsidy standard in 2020-2022 will be reduced by10%,20% and 30% on the basis of the previous year respectively.But a "gentle retreat" may delay the arrival of a "post-subsidy era".Under the background of government subsidy Tui Po even exit,financing difficulties,ebb tide of capital,technology change quickly,many factors such as industry competitors will hinder the development of new energy automobile enterprise,so how to quickly adapt to the new energy vehicles enterprise capital market,the corresponding adjustment of financial strategy,sustainable development has become the key.This article selects the new energy automotive industry of byd on behalf of the enterprise as the research object,first introduced the development and status quo of the company as well as to the byd company financial strategic environment analysis,and then focus from financing strategy,investment strategy and dividend distribution strategy of these three aspects,described the present situation and problems of financial strategy for byd company,It evaluates the implementation effect of BYD’s financial strategy in the "post-subsidy era" and points out the shortcomings of its existing strategy.Finally,it analyzes how to optimize and adjust BYD’s financial strategy from the three aspects of financing strategy,investment strategy and dividend distribution strategy in the post-subsidy era.In order to achieve the sustainable development of new energy vehicles and achieve the ultimate strategic goal of maximizing enterprise value.Combined with the background of "post-subsidy era",this paper puts forward relevant suggestions on how new energy vehicle enterprises can quickly adapt to the capital market and optimize and adjust their financial strategies to achieve sustainable development.This has enriched and expanded relevant theoretical research,and also provided a practical reference for the optimal design of financial strategy of China’s new energy vehicle enterprises in the "post-subsidy era".