| In recent years,with the continuous intensification of China’s environmental pollution problems,fossil resources are gradually facing difficulties such as exhaustion;the urgent requirements for sustainable economic development have prompted the country and the people to begin to pay attention to the development of energy-saving and environmental protection industries.Since the ―Eleventh Five-Year Plan‖,the new energy industry has become one of the key industries supported by the country and the government,and the new energy automobile industry has higher environmental protection than the traditional automobile industry because of its conservation of fossil fuels.It plays a pivotal role in energy conservation and emission reduction,adjustment of energy structure and economic structure,and cultivation of new economic growth points.The new energy automobile industry has become one of the key industries for national strategic development.Among them,the listed companies of new energy vehicles are the backbone of the development of the new energy automotive industry.They are representative of the industrial restructuring of the industry,the forecast of the company’s operating level,the estimation of internal and external financing costs,and industrial technological innovation.At the same time,whether the company’s capital structure is reasonable reflects the ability of the company to achieve sustainable operations and profit,and affects the company’s operating performance,governance structure and market competitiveness.Therefore,the relationship between the capital structure and financial performance of listed companies in new energy vehicles is an important academic field worthy of study.This article takes the listed company of new energy vehicles as the research object,and takes the relationship between the capital structure and financial performance as the main research content.Firstly,the literature research method is used to sort out the research results of domestic and foreign scholars on the relationship between the two,and summarize the research situation of Chinese scholars on the new energy automotive industry;then the main concepts involved in this paper are defined,and the theoretical basis adopted in this paper is explained.Secondly,the development status of the new energy automotive industry is described,and descriptive statistical methods are used to analyze the status of the equity structure,claims structure,and financial performance of 145 listed companies;then,cluster analysis is used to classify listed companies into three categories.According to the classification results,the company performed multiple linear regression analysis;the regression analysis’ s dependent variable was represented by the comprehensive financial performance score obtained through factor analysis on the 21 indicators that evaluate financial performance.The research results show that most of the debt structure indicators have a significant negative correlation with financial performance,and most of the equity structure indicators have a negative correlation with financial performance.This put forward proposals such as reducing the current debt ratio,increasing the long-term debt ratio,using diversified financing methods,increasing financial support,and improving the legal system. |
