| In 2021,China first put forward the goal of "peaking carbon and being carbon neutral".Under the background of green innovation development,new energy has become a hot spot in all walks of life.In the automobile industry,the state has adopted a series of policies to promote the development of new energy vehicles,and new energy vehicles have become the new direction of future development.As far as the production of new energy vehicles is concerned,traditional automobile enterprises have already had the production foundation,but there are still some potential development obstacles.On the one hand,because of the rapidly increasing demand for power batteries,there may be a shortage of supply in the future.The concentration of the power battery industry is increasing,the supply of positive raw materials is insufficient,and the price is rising;Despite the promising prospects for lithium-ion batteries,the market is becoming increasingly competitive;At present,the market for electrolytes is in high demand,leading to rising prices.Then there’s the "range anxiety" caused by the inconvenience of charging.The installed number of electric motors is increasing rapidly,the number of charging piles in China has been in serious shortage,and the demand for DC charging piles is also constantly increasing,while the development of charging infrastructure is relatively backward.In addition,most of the orders of lithium battery equipment are concentrated on leading enterprises.Whether from the perspective of technical bottleneck,or from the performance of the market,new energy vehicles have gradually exposed a lot of problems,such as blind investment,investment intensity is too high,high risk,capital turnover difficulties.In this situation,the prevention of financial risks is particularly important,not only can save the operating costs of enterprises,but also contribute to the long-term development of enterprises.In this paper,BYD Company,the leading company of domestic new energy automobile enterprises,is selected as the case company.Firstly,the development history and general situation of BYD company are introduced,and the financial risk is identified by horizontal and vertical analysis of the financial index data of BYD from2016-2021.Secondly,factor analysis is used to evaluate the financial risk.The main process is to carry out factor analysis based on the financial data from 2016 to 2021 and the first three quarters of 2022.15 indicators are selected from the five aspects of operating ability,profitability,debt paying ability,development ability and cash flow ability to establish the financial risk early warning model of BYD Company.It is found that BYD has high risk of profitability and solvency;Finally,according to the analyzed financial risk situation,the corresponding control suggestions are put forward.In view of the financial risk of profitability,BYD should pay attention to prevent investment risks,strengthen project feasibility analysis and avoid excessive investment.In view of the solvency risk,BYD should optimize the capital structure and improve the internal fund control system.It is hoped that the above analysis can promote the better development of BYD,truly become a leading enterprise in the industry,and move forward steadily in the tide of economy. |
