| The automobile industry is an important support for the construction of a manufacturing power in China,and it is also an important pillar of our national economy.Since joining the WTO,global car manufacturers have completed their layout in China one after another,and China’s local well-known brands have also started to rise,and China’s automobile manufacturing industry has started to enter a decade of rapid development.Since General Secretary Xi Jinping put forward the goal of carbon peaking and carbon neutrality in 2020,the Party Central Committee quickly made important arrangements for carbon peaking and carbon neutrality,and the deployment of the automotive industry was among them.The "Medium and Long-term Development Plan for the Automotive Industry","Development Plan for the New Energy Vehicle Industry(2021-2035)" and "Strategy for the Development of Intelligent and Innovative Vehicles" issued by the State have all mentioned the general objective of building a strong automotive country,and at the same time,influenced by the "double carbon" policy,clearly put forward the key areas for the development of China’s new energy vehicle industry At the same time,influenced by the "double carbon" policy,it was clearly proposed that the key areas for the development of China’s new energy vehicle industry include three key areas: new energy vehicles,intelligent networked vehicles and energy-saving vehicles.After experiencing the planning stage,introduction stage and development stage,China’s new energy vehicle industry has entered a critical adjustment period since 2019,and has made corresponding achievements in some aspects,but there is still a gap with the development of new energy vehicles in foreign developed countries.Therefore,this paper analyses the overall operating status of the new energy vehicle industry by evaluating the profitability of listed companies in the new energy vehicle industry,and on this basis,explores the factors influencing profitability,which is of great significance to the development of China’s new energy vehicle industry and the national economy as a whole.This paper adopts the research methods of case study and quantitative analysis.Firstly,it compares the relevant literature studies at home and abroad,and analyses the profitability evaluation methods and the reasons for the impact on profitability.Then,11 listed new energy vehicle companies whose main business is passenger cars are selected as samples for the study,and a profitability assessment model is constructed using factor analysis and their profitability scores are calculated.The profitability scores of the 11 companies were used as the explanatory variables,and the factors that may affect profitability were selected as explanatory variables,and the multiple regression method was applied to identify the indicators that have a significant impact on profitability.Finally,based on the results of the factor analysis and multiple regression,and based on the comprehensive analysis of the sample enterprises,Geely Automobile,the fourth BYD enterprise,the seventh Ideal Automobile and the eleventh BAIC Blue Valley enterprise were used as specific case enterprises to compare and analyse the changes in their profitability specifically.Through the results of factor analysis,it was found that the profitability of China’s listed new energy automobile companies tends to be stable.Through the results of multiple regression analysis,it was concluded that marketing intensity,R&D investment,operational capability and capital structure have significant influence on the profitability of enterprises,and then combined with the case enterprises selected in this paper for comprehensive comparative analysis,it is possible to appropriately strengthen marketing investment and adjust marketing strategies,enhance the R&D capability of enterprises to grasp core technologies,improve the efficiency of corporate asset use and maintain a reasonable capital structure to enhance the profitability of new energy vehicle enterprises. |
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