Financial Risk Assessment Of New Energy Vehicle Companies

Since the 19 th National Congress of the Communist Party of China,the strong support of national policies has promoted the initial blowout development of the new energy automobile industry,resulting in overheating of the market.However,with the continuous tightening of subsidy policies in recent years,the higher requirements for the quality of new energy vehicles have eliminated many of the last enterprises,and the "survivors" in the market have entered a cold winter.For many new energy vehicle companies,how to avoid financial risks and improve financial stability under the background of gradually reducing state subsidies,immature new energy vehicle consumer market and international economic downturn has become a problem worthy of consideration.This paper takes BYD Co.,Ltd.as an example to assess the financial risk of new energy vehicle industry,which is not only conducive to the popularization of new energy vehicles,promoting the company to make up for the weak points affecting its own development through various measures,stimulating market demand,but also encouraging more investment into the new energy vehicle industry,enhancing the confidence of investors and consumers,and promoting new energy vehicles at the same time Improve the risk management and control system of the vehicle company.This paper is divided into financial and non-financial perspectives,and selects 16 key indicators to establish a financial risk assessment model.It is calculated that the financial risk level of BYD Co.,Ltd.in 2014-2018 is kept at a medium level,and the risk mainly comes from operating capacity and debt paying capacity.It also proposes to strengthen and improve management,increase new media marketing,and increase battery technology for the new energy automobile industry Suggestions on technology R & D investment,adjustment of production plan in transition period and strengthening of industry cooperation.The innovation of this paper is to consider the non-financial indicators which have a great impact on the development of new energy vehicles,in addition to the financial indicators,and more comprehensive coverage of various factors affecting the development of new energy vehicles,and the research of new energy vehicles follows the development trend of the times,which is conducive to the development of new energy vehicle industry.The first chapter is the introduction.First of all,it expounds the research background and significance of the paper,then summarizes the outstanding theoretical achievements of domestic and foreign scholars in the field of corporate financial risk assessment and makes a comprehensive review,then summarizes the research methods and contents of the paper,and finally puts forward several possible innovations of the paper;the second chapter is related theories of financial risk assessment.This paper introduces the types and causes of financial risks,and expounds the analytic hierarchy process and efficiency coefficient method which are mainly used in this paper;Chapter Three: the current situation of new energy automobile industry and case companies.It introduces the development of new energy automobile industry and BYD Company respectively,and then selects indicators according to the research purpose and the actual situation of BYD;chapter four is the construction of financial risk assessment model.Using the analytic hierarchy process and efficiency coefficient method,after determining the weight,setting up the evaluation standard and dividing the risk level,the evaluation model is constructed;the fifth chapter is the financial risk evaluation and result analysis.Firstly,the flow chart is used to clearly show the process of risk assessment.Secondly,the data is selected into the assessment model,the assessment results are calculated and summarized,the risk level is obtained and analyzed.The sixth chapter is the specific suggestions for the development of new energy vehicle companies.The seventh chapter is conclusion and deficiency.Based on the above analysis results of the financial risk situation of BYD Company and the current market environment,this paper makes a conclusion,and analyzes the shortcomings of the article.