The Financial Performance Evaluation Of Thermal Power Enterprises Under The Background Of "Double Carbon"

In the context of the increasingly severe global environment,China,as the country with the largest carbon emissions in the world,has made a commitment to reach the peak of carbon by 2030 and to be carbon neutral by 2060 in the principle of ecological protection and international responsibility.As the largest carbon emission industry in China,the electric power industry is bound to face pressure to reduce carbon emissions.In order to make a balance between economic development and low carbon development,the thermal power industry needs to make a faster transition.As one of the five major power companies,Huadian International is also facing unprecedented difficulties under the background of "double carbon".Based on the research on the international financial performance of Huadian thermal power enterprise,this paper analyzes the operating status and financial performance level of thermal power enterprise under the background of "double carbon".On this basis,it is of great significance to explore the methods and strategies to improve financial performance for thermal power enterprises in the context of "double carbon".In this paper,the short-term financial performance changes of Huadian International in the macro level policy announcement event and the micro level enterprise’s own low-carbon development event are compared through the event study method.Both event studies have concluded that under the "dual carbon" background,Huadian International,as a thermal power enterprise,has improved its short-term financial performance to a certain extent.It can be seen that the market is optimistic about the low-carbon transformation and development of thermal power enterprises,which also improves the short-term performance of Huadian International.In terms of long-term financial performance evaluation,this paper selects 26 listed thermal power enterprises as samples,uses factor analysis to reduce dimensions,obtains four public factors,calculates and ranks the scores of each public factor and comprehensive enterprises,and analyzes their financial performance.Summarize the financial performance of thermal power enterprises under the current background,and draw a conclusion that in terms of long-term financial performance,the "dual carbon" background has a negative impact on the financial performance of thermal power enterprises.In 2021,the financial performance score of the overall thermal power industry will decrease to a certain extent.In the vertical comparison of Huadian International itself,its score will also drop significantly in 2021.Its own financial performance also has problems such as weak development ability and profitability,and poor solvency.Finally,the main reasons affecting the decline of Huadian’s international financial performance in 2021 are summarized.On this basis,combined with the above content of financial performance evaluation,the paper puts forward some suggestions,such as cost control,capital stability improvement and low-carbon development,which can also provide reference for the development of the whole thermal power industry and other thermal power enterprises.