Research On The Financial Performance Of Listed New Energy Vehicle Companies Under The Government Subsidy Policy

In recent years,the automobile industry has been growing in my country and has achieved a lot of achievements,but the room for growth is getting smaller and smaller,and seeking new ideas has become an inevitable choice for them.New energy vehicles became an important direction for the transformation of the automotive industry.On the one hand,their emergence can reduce oil consumption,thereby reducing the dilemma of relying on overseas oil and being unable to support themselves,and ensuring my country’s energy security;on the other hand,due to In fact,my country does not have a strong competitiveness in fuel vehicles,and in terms of new energy vehicles,the gap between my country’s auto industry and foreign countries is still relatively small.The development of new energy vehicles is the result of Chinese automakers’ "overtaking on corners".Breakthrough.In order to achieve the purpose of ensuring energy security,improving competitiveness,and protecting the environment,the state has also announced a series of policies to support the development of the new energy automobile industry.However,in the course of practice,some malpractices brought about by the government’s industrial policies have also gradually emerged.Therefore,it is necessary to conduct in-depth research on the financial performance of new energy vehicle companies under different industrial policies.As a key area of the new strategy,the government has also given a lot of subsidies in the development of new energy vehicles.Many companies have become beneficiaries of government subsidies,turning losses into profits.At the same time,to speed up the industrialization and marketization of new energy vehicles,the Chinese government has introduced a variety of subsidies.The research goal of this article is how new energy vehicle companies use these subsidies under the continuous development of government industrial policies,and what impact does it have on performance.In the research process,this article selected BYD’s financial data from 2011 to 2019,and based on the disclosure of government subsidies in the financial statements,combined with the government’s industrial policies at different stages and the number of new energy vehicle sales by BYD in each year.The two dimensions of subsidies analyze the impact of corporate financial performance on government subsidy policies,and at the same time conduct a detailed discussion on R&D investment and revenue levels.The performance of consumer subsidies is mainly evaluated by profit and operating income indicators;R&D subsidies are mainly evaluated by R&D investment and R&D output indicators;the overall performance of company is mainly analyzed by debt solvency,operating capacity,profitability and growth ability.The life cycle is introduced to distinguish the impact of the above two types of subsidies on BYD’s financial performance under different subsidy policy stages.It is hoped that it can provide suggestions for reference when the government formulates policies in order to better match policy tools and promote Enterprise’s production and operation and research and development activities.The study found that there is a high correlation between BYD’s R&D investment and R&D subsidies,and R&D subsidies can stimulate BYD’s enthusiasm for technological innovation and benefit the development of the company.The impact of consumer subsidies on BYD’s sales is consistent with the market’s performance and has a clear promotion effect.The decline in subsidy policies will have a certain impact on the company’s sales.Companies need to accelerate reforms,improve quality and efficiency,and reduce dependence on the government.Finally,this article also provides suggestions on the problems reflected in the analysis process.It is important for the efficiency of government subsidies in the new energy automobile industry and the improvement of the government subsidy distribution system,and promote the healthy and orderly development of the entire new energy automobile industry.Realistic meaning.