A Study On The Impact Of R&D Investment On Financial Performance Of Listed Companies In The Photovoltaic Industry

The development of China’s photovoltaic industry is inseparable from the help of technology research and development.With the two-way promotion of market demand and policy stimulus in recent decades,the scale of the industry continues to increase,especially with the globalization of carbon neutrality,people have higher expectations on the installed number,which undoubtedly puts forward higher requirements for the technological innovation of China’s photovoltaic industry.However,the promotion of technological innovation in China’s photovoltaic industry is facing many problems,and the acquisition of technological innovation must be carried out research and development activities,increase investment in research and development.However,R&D investment needs a large amount of capital as a guarantee,and it also faces the risk of R&D failure while crowding out other funds.This paper selects First as the research object,analyzes whether its R&D investment can improve the company’s financial performance,and provides a good reference for relevant enterprises to rationally invest in R&D and develop core technologies.In this paper,with the aid of flush i Fin D database,in combination with all industry classification chose 15 photovoltaic industry listed companies,in 2017-2021,a total of five years of financial data,respectively from the profitability,solvency and operation capacity based on some representative financial performance indicators of factor analysis,screening of three main factors to make a comprehensive score sorting,Finally,it was found that First ranked first in comprehensive financial performance,so First was taken as a case company.Combined with the data from 2017 to 20215,the research and development investment of First is analyzed in detail,the correlation between research and development investment and financial performance is analyzed,and the impact of research and development investment on the profitability,solvency and operational capacity of First is explored.Conclusion: ○1 First’s operating capacity,solvency and comprehensive financial performance rank very high in the industry sample;○2 First’s R&D investment increases year by year and attaches great importance to R&D activities;○3 First’s R&D investment and number of R&D personnel are significantly positively correlated with financial performance;○4 First’s R&D investment has a positive effect on financial performance.Based on the above research results,this paper proposes in the enlightenment part of the paper: enterprises in the photovoltaic industry should attach importance to their own R&D investment,rational allocation of R&D funds should strengthen the screening and supervision of R&D projects;We should pay attention to talents and improve them regularly to ensure their quality.The government should also formulate sound policies for innovation and development to promote and encourage innovative development of enterprises.