The Impact Study On The Government Subsidies To New Energy Automobile Industry Financial Performance

In recent years,the development of new energy has become an important part of the world's energy distribution.However,the high cost and long cycle of new energy research and development are restricting the development of enterprises.Therefore,China has introduced a series of government subsidy policies,but this policy also has a series of drawbacks in the process of practice.The purpose of this paper is to use professional financial analysis methods to study the financial performance of government subsidies on the new energy automobile industry,and to test the results with relevant analysis tools,so as to achieve the consistency between social benefits and environmental benefits.This paper takes listed new-energy automobile enterprises as the research object,and makes a systematic analysis of the impact of government subsidies on financial performance of new-energy automobile industry by combining case analysis and empirical research.The following contents are emphatically studied:(1)In the case study part of this paper,the author takes industry representative 1 company as an example and finds out the impact of government subsidies on the financial performance of new energy vehicles through preliminary research and analysis.(2)In the empirical study,203 sample data of listed companies of new energy vehicles were selected for analysis,hypotheses were proposed and models were established to verify the correlation between government subsidies and financial performance of the new energy vehicle industry.The research finds that:(1)Government subsidies have a significant correlation with the enterprise value of new energy vehicles,but also lead to the disadvantages of high asset-liability ratio and relatively concentrated equity;(2)Government subsidies have a positive effect on the growth rate of business income,but the effect is not obvious.The financial performance of new energy vehicles depends largely on the government subsidies;(3)Faced with the reduction of government subsidy policies,new-energy automobile enterprises should also change their product strategies in order to adapt to their own development and avoid costly technological competition.The possible innovations and contributions of this paper are as follows: from the perspective of research,starting from the new energy automobile industry,this paper systematically studies the impact of government subsidies on the financial performance of the new energy automobile industry,so as to provide enlightenment and reference for the daily operation of the same industry and relevant policies issued by the government.In terms of research methods,this paper combines case analysis with empirical research to make the research conclusion more targeted and comprehensive and innovative.In terms ofthe selection of research indicators,it is slightly different from the existing literature analysis on enterprise r&d innovation.In this paper,the number of green patents is selected as the indicator of green technology innovation for the new energy automobile industry,which is relatively new.