Comparison And Promotion Of Lithium Battery Industry’s Financial Competitiveness Under Value Chain Perspective

The introduction of the new energy vehicle industry development plan(2021-2035)of the State Council has pointed out a bright prospect for the new energy vehicle industry.As the core that makes the new energy vehicle different from the traditional fuel vehicle,the power battery has also received great attention.Financial competitiveness reflects the comprehensive ability of enterprises to formulate financial strategies and operate financial resources,which can help enterprises establish competitive advantages.The internal value chain can help enterprises decompose various activities and determine their own advantages and disadvantages.The vertical value chain helps enterprises select appropriate partners.The horizontal value chain allows enterprises to clarify their position in the industry.The analysis of industrial value chain is helpful to understand the development of the whole industry.The study of financial competitiveness from the perspective of value chain is conducive to the progress of the whole industry.The main content of this paper starts with a brief introduction to the lithium battery industry.Firstly,16 secondary indicators are selected to form the evaluation system from the five primary indicators of cash acquisition ability,solvency,profitability,operation ability and growth ability,and 63 lithium battery enterprises are divided into upstream,midstream and downstream enterprises from the perspective of industry value chain.Then,the financial competitiveness of lithium battery enterprises in 2017-2019 is calculated and ranked by factor analysis method.The representative enterprise CATL is selected as the research object.Through the comparison of the average situation of individuals and the industry as a whole,the main reasons affecting the financial competitiveness of CATL are analyzed from the perspective of internal and external value chain.Finally,combined with the reasons analyzed,this paper puts forward targeted suggestions to improve financial competitiveness.Through the results of factor analysis,cash acquisition ability,profitability and solvency have a great impact on the financial competitiveness of enterprises.Secondly,on the whole,the financial competitiveness of Chinese lithium battery industry is not strong,and the order of strength within the industry is upstream,downstream and midstream.At the same time,the poor performance of CATL and the overall profitability of the industry has become the problem of weakening financial competitiveness.By analyzing the main reasons affecting profitability and financial competitiveness in CATL,from the perspective of internal value chain,the cost of procurement increases,the profit of sales decreases,and the financial strategy is adjusted;From the perspective of vertical value chain,the change of new energy subsidy policy affects the terminal automobile market;From the perspective of horizontal value chain,the number of competitors increases and the industry competition intensifies.Through demonstration and analysis,this paper puts forward the following suggestions from the internal and external aspects of the enterprise: the internal perspectives are: capability level:(1)Improve R & D capability;(2)Enhance the ability of risk control.Resource level:(1)Master rich raw material resources;(2)Introduce high-quality human resources.Strategic level:(1)Reasonable choice of financing strategy;(2)Strengthen the cost leadership strategy;(3)Form a strategic alliance.The external perspective mainly involves national policies.