Research On The Impact Of Government Subsidy On The Effect Of New Energy Automobile Enterprises In China

At present,China is facing extremely serious environmental contradictions,the public has formed a high awareness of environmental protection,and more active in environmental protection.As the government advocates the development of green economy,the domestic automobile industry faces many tests and opportunities in the transformation of industrial structure.From the perspective of the strategy of revitalizing the automobile industry released by China,the country pays great attention to the development and promotion of new energy vehicles.It is very important for the transformation of the automobile industry that the correct guidance and relevant resource allocation provided by the macro-control at the national level are provided.Government subsidy is one of the most important financial means.Since 2001,the new energy industry has been considered to be included in the scope of state subsidies.However,high financial subsidies have both advantages and disadvantages for enterprises,mainly reflected in the fact that government subsidies not only promote the development of the new energy vehicle industry,but also lead to many problems such as "subsidy fraud" by enterprises.In order to avoid the above situation,relevant government documents were officially released in 2015,which clearly stated that government subsidies continued to decrease from 2016 to 2020,indicating that China has entered a post-subsidy era since 2016.Facing the decline of government subsidies,the innovation ability and financial performance of new energy vehicles will also change accordingly.In the post-subsidy state,what kind of methods should be adopted to make enterprises develop better needs to be explored and faced in depth.Based on the above background and problems,this paper explores the impact of enterprises’ R&D activities and financial performance after deducting government subsidies.And choose BYD company as a typical case to carry out research work.First of all,the overall development status of China’s new energy vehicle industry and relevant subsidy policies under the government subsidy policy are carefully sorted out,and the intensity of government subsidies and changes in relevant policies are then analyzed.Further analysis of BYD company’s basic situation,including the company’s basic situation and B YD than previous years to obtain the scale of government subsidies.Secondly,the financial data of BYD from 2013 to 2019 are selected,and it is found that the government is very supportive of BYD’s R&D activities,and government subsidies play a certain role in promoting the R&D input and output of new energy vehicles.By analyzing the impact of government subsidies on the financial performance of new energy automobile enterprises before and after excluding them,it is found that government subsidies have a certain impact on short-term solvency and profitability,but have little impact on long-term solvency and development ability.Finally,based on the actual cases and theories,the paper puts forward that new energy vehicle enterprises should pay attention to the intensity of research and development,and actively deal with the decline of government subsidies.The government should speed up the system construction and improve the supervision.Investors should reasonably view financial performance,rational investment and other suggestions.Studying the current fiscal subsidy policies for new energy vehicles will help the development of new energy vehicles and even the progress of the entire automotive industry.Under the premise of ensuring the country’s fiscal balance,it will help coordinate the development of new energy-intensive industries and The relationship between economy and environmental protection contributes to long-term sustainable development in the future.For manufacturers,the effective use of financial subsidy policies can better produce and develop new energy vehicles and core components based on policy guidance,thereby creating independent best-selling brands and promoting the sustainability and health of China’s new energy vehicle industry development of.