Research On Financial Performance Evaluation Of New Energy Automobile Manufacturing Enterprises

In recent years,the global ecological environment is getting worse and worse,and a large amount of greenhouse gas has emitted,of which the majority is carbon dioxide.According to the relevant data,about 25%carbon dioxide is produced by the exhaust of traditional fuel-based vehicles.While providing convenience to people,automobile has deepened contradiction between the demand and the environment.Therefore,developing new energy automobile has become the direction of the future development of car industry.With the support of China’s policies,the new energy automobile industry has grown rapidly,and the society also has higher and higher requirements on new energy vehicle enterprises.Study the financial performances of new energy automobile enterprises helps the companies get a clear understanding of their business status,in the meantime,promote the development of new energy automobile industry.This paper selects New Energy Automobile Enterprise B co.,LTD as an example to analyze its capability indicators from 2014 to 2018,and compares it with other enterprises to identify the problems existing in business operations and propose improvement measures.Based on the relevant literature and research related theories,this paper establishes five evaluation indicators system of profitability,operational capability,solvency,development capability and supplementary capacity.First of all,on the basis of studying the enterprise financial performance evaluation index,theory and method,this paper introduces the current situation of enterprise B,selects the method of financial performance evaluation and expounds the applicability of the efficacy coefficient method in the financial performance evaluation of enterprise B.Secondly,after selecting proper indicators,this paper calculates the data which related to financial performanceevaluation(data standardization processing),then uses the entropy method to determine the index weights.And the final score and index of the five-year data of enterprise B are calculated by using the efficacy coefficient method.At last,through the vertical analysis with 16 other companies,the company’s financial performance is evaluated.In this paper,it was found that,firstly,the performance evaluation results of the efficacy coefficient method were consistent with the trend of the index value of enterprise B,which indicated the applicability of the efficacy coefficient method.Secondly,through the horizontal and vertical comparison,it is found that enterprise B’s operation capacity and solvency is not good,mainly reflected in the low receivables turnover rate,poor operating cash flow,high asset-liability ratio and unreasonable capital structure.Therefore,the enterprises should promote the operational capacity and solvency.At the same time,they should continuously increase research and development investment,pay attention to the upgrade of the quality and technology of the product to ensure the competiveness of enterprises and the sustainability of their operations.