| The Action Plan for Carbon Peaking by 2030 and the New Energy Vehicle Industry Development Plan(2021-2035)state that new energy vehicles should be vigorously promoted,with new energy vehicle sales reaching about 20% of total new vehicle sales by 2025,and pure electric vehicles becoming the mainstream of vehicles sold by 2035,with full electrification of vehicles used in the public sector.In the context of the double carbon target,the development of the electric vehicle industry gives great prospects for the development of new energy vehicle manufacturing enterprises.YD automobile manufacturing enterprises,as one of the domestic car companies that have received much attention,began a comprehensive transformation to the new energy direction in 2016.However,the transformation is a long-term and dynamic process,in which it will inevitably have an impact on the changes of risks at various levels.Therefore,this paper examines the financial risks of the transformation and development of YD automobile manufacturing enterprises under the double carbon target,and provides a reference for the successive transformation of other automobile enterprises.This paper compares the concepts of dual-carbon target,enterprise transformation and financial risk,and after clarifying the transformation development history of YD enterprises and measuring the implementation of their transformation,we identify the financial risks before and after the transformation of YD enterprises from 2011 to 2021 by comparing the levels of financing,investment,operation and development in a cross-sectional and vertical manner,so as to explore the current basic financial risks.Then,based on the F-score model,the financial risk of YD enterprises was initially measured,and fifteen financial indicators were selected and assigned with the entropy weighting method,and the scores of the financial indicators were evaluated and analyzed based on the efficacy coefficient method,and the trend of financial risk before and after the transformation was obtained.Finally,based on the evaluation results,the specific financial risk problems existed and risk control measures were proposed for YD enterprises.This paper analyzes the financial risks before and after the transformation and finds that the overall trend of financial risks has become smaller due to the transformation,but the financial risks fluctuate in the process of transformation,and some of the financial risks are more prominent from the perspective of financing,investment,operation and development.In investment,the investment efficiency is low and the control of cost is poor;in operation,the collection period of accounts receivable is long and the inventory occupies a lot of funds;in development,the growth rate of operating profit is negative and the index is volatile.Further control measures are proposed for the current financial risks: for financing risks,enterprises should optimize the debt structure and enrich the financing channels;for investment risks,enterprises should strengthen the analysis of the benefits of investment activities and strengthen the control of costs and expenses;for operation risks,enterprises should strengthen the management of accounts receivable and improve the inventory management system;for development risks,enterprises should improve the risk warning mechanism and firmly transformation ideas and new energy technology innovation. |
