Research On Financial Risk Management And Control Of Weilai Automobile

With the country's vigorous support for the new energy vehicle industry and the successive introduction of various related subsidy policies,more and more enterprises have flocked to the field of new energy vehicles,including traditional car companies that originally belonged to the production of fuel oil vehicles.Approved the emerging Internet car companies relying on "Internet +new energy".The new energy vehicle market is becoming increasingly saturated,coupled with the strong penetration of foreign brands Tesla,the entire industry will face large-scale reshuffle.As the automobile industry belongs to the heavy industry industry,vehicle manufacturing and sales require a large amount of funding and a series of supporting infrastructure.Internet car manufacturers,as new entrants to the above industries,lack the original accumulation of funds and the accumulation of brand culture.Considering the scale of capital needed to build a car,it is conceivable that this group will be more prone to financial risks than other traditional car companies.In order to enable the emerging Internet car manufacturers to survive the wave of industry consolidation and phase out,and then achieve "curve overtaking,latecomers stay on top",it is imperative to control their financial risks.This paper selects Weilai Automobile,a very representative company among Internet car manufacturers,as the research object.On the basis of summing up the predecessors' concepts related to financial risk,and relying on risk management theory,capital structure theory,cash flow theory,and Porter's competition theory as the basis,first of all start from the characteristics of industry risks commonly faced by Internet car manufacturers,Combining the relevant financial data and actual operating conditions of Weilai Automobile in recent years,the current financial risks of the company were identified and analyzed,which are mainly manifested in the pressure of cash flow in business activities,the lack of profitability and the difficulty of making profits in the short term,as well as the greater uncertainty of subsequent financing results.Secondly,from the perspective of policy,industry,operating model,and internal financial environment,the reasons for the above-mentioned financial risks of Weilai Automobile are analyzed in detail,including the decline of new energy subsidy policies,intensified industry competition,excessive capital investment,and There are uncertainties in the OEM model and a weak internal financial risk control environment.Finally,according to the relevant conclusions obtained from the analysis above and combined with the actual development needs of Weilai Automobile,a comprehensive management and control strategy from the perspectives of strategic dimensions,operational dimensions;capital flow dimensions,and a perfect internal financial risk control environment was proposed.The strategic dimension is the target level,which mainly starts from grasping the national new energy policy guidance and the overall development and operation planning of the enterprise;the operational dimension is the implementation level,which is mainly targeted at the supply chain and OEM mode;the capital flow dimension is the core control level,which involves financing,R&D design,and sales management,in order to help companies reduce financial risks and strengthen their ability to resist risks.It also hopes that it can be of reference to other Internet car manufacturers.