Research On The Impact Of China’s Fiscal And Tax Policies On The Profit Quality Of New Energy Automobile Enterprises

In the face of the global energy crisis,China has repeatedly stressed the need to establish a market-oriented green technology innovation regime,reinforce the work in the areas of energy saving and environmental conservation,and properly manage the correlation between eco-environment and economic growth.The prospects for the conventional car industry are worrying and many countries are gradually focusing on the development and promotion of the new energy vehicle industry.In the "Made in China 2025" plan,new energy vehicles are one of the ten key areas of development,and China’s traditional automobile enterprises are also seeking electrification transformation and development.At the same time,the market competition in the new energy vehicle industry is becoming an increasing number of intensity,and some new energy vehicle enterprises are using government subsidies as corporate profits to beautify their annual reports,so the quality of profits is a clearer reflection of the real situation than the quantity of profits.In addition,as new energy vehicle companies move from the start-up phase to the mature phase,government subsidies for new energy vehicle companies in China are declining.How to improve the enterprises’ ability to resist the risk of policy changes and reduce their dependence on government subsidies and tax incentives has become an urgent issue.In this context,based on the theory of sustainable development,the theory of fiscal subsidy effect and the theory of tax preference effect,this paper discusses the changes in profit quality of enterprises from the perspective of enterprise profit quality and extends the dimensions of profit quality analysis by combining the influencing factor of fiscal policy from both horizontal and vertical aspects.Secondly,this paper discusses the link between the change of fiscal policy and the change of profit quality of the whole industry through the data envelopment analysis method and compares the performance of SAIC with the whole industry.Then,we analyze the impact of policy changes on the profit quality of enterprises in four dimensions: profitability,cashability,sustainability and growth indicators,so as to further explore the role of China’s existing fiscal policy in the development of new energy car companies,and explore the impact of China’s fiscal policy on the profit quality of new energy vehicle enterprises as a whole.The study found that: there is a significant positive effect of fiscal policy on SAIC’s profit quality but the current period is stronger;SAIC and the whole new energy vehicle enterprise rely more on fiscal policy;fiscal policy has a greater impact on the profitability,sustainability and growth of SAIC’s profit quality.Then summarize and provide countermeasures for new energy vehicle enterprises to improve profit quality and strengthen their resilience to the risk of policy changes.