Research On The Evaluation Of The Financial Competitiveness Of Listed Companies In The New Energy Vehicle Industry Chain

New energy vehicles contribute to combating climate change and achieving high quality development.The development of new energy vehicles is a major strategic plan for the country and an inevitable choice to achieve the comprehensive construction of a modern and beautiful socialist power.China’s new energy vehicles are developing rapidly and and has formed a complete industrial chain including upstream,midstream and downstream,and the increasingly complete and synergistic industry chain has become an important breakthrough in promoting the transformation and upgrading of the national economy,with great development potential.However,there are also risks and challenges such as fluctuations in market and raw material prices and the withdrawal of subsidies,strengthening competitive awareness and enhancing core competitiveness are effective ways to address these risks and challenges,while financial competitiveness is a key element of core competitiveness.Therefore,it is particularly important to study financial competitiveness.This study selects the new energy vehicle industry,constructs a complete new energy vehicle industry chain and divides it into 129 listed companies in total as samples;establishes an evaluation system of financial competitiveness of listed companies in the new energy vehicle industry chain consisting of six criteria level indicators containing 18 three-level indicators;selects the entropy-weight-TOPSIS model,based on the statement data of 2017-2021,etc.and combined with the filing classification method of progressive averaging,the financial competitiveness of listed companies in the new energy vehicle industry chain was evaluated and studied.The research results show that:(1)The weighted indicators that have the greatest impact on the financial competitiveness of listed companies in the new energy vehicle industry chain are operating capacity and resource capacity,with the combined weight of the two exceeding 50%.(2)The evaluation results of the financial competitiveness of the new energy vehicle industry chain obtained through the entropy-weighted-TOPSIS model are in line with expectations.The indicators with larger weight shares perform better and are more financially competitive.(3)The financial competitiveness of more than 50% of the sample is lower than the average value of the industry chain as a whole,and the financial competitiveness of listed companies in the new energy vehicle industry chain needs to be further improved.(4)Analysing the industry chain rankings,it was found that the midstream vehicle manufacturers ranked more highly,while the downstream sample companies ranked relatively lower.(5)According to the progressive averaging method,the companies were classified into five categories: "excellent","good","average","low" and "very low".A very low proportion of sample enterprises are classified as "good" or above,and over 80% of sample enterprises are in the "average" or below category.The percentage of enterprises classified as ’average’ or below is very high in the upstream and downstream categories combined,while the percentage of enterprises classified as ’good’ or above in the midstream category is higher than in the upstream and downstream categories,and the percentage of enterprises classified as ’very low’ in the midstream category is the lowest.The results of the progressive averaging method again confirm the conclusion that "the financial competitiveness of listed companies in the new energy vehicle industry chain is low";at the same time,the financial competitiveness of the midstream is higher compared to the upstream and downstream.