Research On Financial Sustainable Growth Ability Of New Energy Automobile Listed Companies

The combination of market depression,environmental pressures and an over saturated auto market has resulted in a less than optimal growth rate for China’s auto sales,while the new energy vehicle market is steadily advancing.Although China still has certain disparity with the developed country in the traditional fuel automobile aspect,in the field of new energy vehicles,a "three vertical and three horizontal" R&D model and technical system have basically been formed.And the subsidy policy that adjusts ceaselessly also promoted new energy automobile industry to form survival of the fittest pattern.As the participants of the new energy automobile market,the automobile enterprises should take the opportunity to allocate the financial resources reasonably to ensure their sustainable development in the fierce market competition.Therefore,the study of financial sustainability of new energy vehicle listed companies is of guiding significance to the sustainable development of the industry.This article mainly uses the case study method,the research mentality mainly divides into three parts.First,summarize the related domestic and foreign research results of financial sustainable growth,define the concept of new energy vehicle,introduce the real growth rate,sustainable growth rate and the criteria of financial sustainable growth ability,and select the Van Horne static model,as a basis for calculating the sustainable growth rate of the listed companies of new energy vehicles.Secondly,on the basis of different main products in the supply chain,the listed companies of new energy vehicles are classified as raw material supply link,parts production link,vehicle manufacturing link and terminal service link,and 35 sample companies are selected.The primary data source is the RESSET database.It is concluded that the listed companies of new energy vehicles do not have the ability of sustainable financial growth in 2015-2019.Then,the factor analysis method is used to calculate the financial sustainable growth ability of 35 sample companies.It is found that the listed companies have obvious advantages in the control and allocation of financial resources.So choose this link of listed companies for comparative case study.Thirdly,a comparative case study is conducted between Guangzhou Automobile Group,which ranks first in financial sustainable growth ability,and Asia star bus,which ranks last,and the data of 13 full vehicle listed companies are processed by arithmetic mean,that’s the industry average.It is found that vehicle enterprises exist inventory backlog,high accounts receivable and slow sales growth.And the Guangzhou Automobile Group and the Asia Star Passenger vehicle all do not have the financial sustainable growth ability.This paper further analyzes the reasons from two aspects of operating efficiency and financial policy,and puts forward corresponding suggestions,in order to provide reference and reference for the listed companies of new energy vehicles to achieve sustainable financial growth.