Value Chain-oriented Financial Strategy Research

As one of the important national economic pillar industries in China,automobile industry plays a very important role in the development of national life and economy.China,as the representative of the emerging countries in the rapid development of automotive industry,its production and sales maintain a steady growth in recent years.What's more,the increase of car ownership in the world is bound to be a main challenge to the green concept of sustainable development,so every country in the world regards the automobile zero emission as one of the development goals of the automobile industry.Therefore,the new energy vehicle will inevitably be the trend of the future development of automobile industry.BYD,as an outstanding Chinese independent brand in the field of new energy vehicle,it and other new energy vehicles in China have a very important reference significance,so we take the value chain financial strategy as the breakthrough point to study its successful experience and potential risks.First of all,based on the value chain theory,this paper not only studies the development of new energy automobile industry,but also constructs the financial management framework in line with the new energy automobile industry,helps the practitioners of the new energy industry to build up the core competitive power in line with their own development rules,and promotes the enterprise management level.Secondly,on the basis of the current company's financial strategy management,the analysis and forecast of the future environment,combined with the development policy of China's new energy automobile industry,is helpful to perfect the financial strategic management of BYD.Plan the investment and financing behavior from the strategic height,to improve the investment and financing ability,and to enhance the ability of BYD's financial system to adapt to the future environment.Firstly,this paper introduces the background and significance of the topic,and establishes the research framework of the thesis on the basis of the related literatures of the value chain and financial strategy.And concretely unfolds the theory development of the value chain,the definition classification and the characteristic of the financial strategy theory,comprehensively introduces the research situation of the value chain financial strategy.Then,the new energy automobile industry is studied,the new energy vehicle is defined,the development stage and the present situation ofthe new energy automobile industry are introduced,and the whole new energy automobile industry chain and the main enterprises are analyzed,and the basis for the analysis of the financial strategy of the value chain is made.In the case analysis section of BYD Company.This paper first introduces the development of BYD Company and highlights the development of new energy vehicle business,and then uses the SWOT analysis to clarify the strategic environment inside and outside BYD.The paper reviews the financial performance of BYD in its main business,assets and liabilities and cash flow,and evaluates BYD's financial performances by using Z-value analysis and improved du Pont analysis method.On the basis of the previous research,this paper focuses on some important internal and external value chain financial strategies for BYD.Finally,the paper analyzes the main problems existing in BYD's value chain financial strategy and puts forward practical and effective solutions.