Research On Financial Risk Warning Of B Photovoltaic Enterprises From The Perspective Of Cash Flow

In the 21 st century,China’s economy has entered a state of "stability" and deepening structural reform on the supply side has become the keynote of China’s economic development,while the adjustment of the energy structure is an important part of deepening structural reform on the supply side,which is This is a major practical issue in accelerating the construction of a new development pattern.The output or employment structure of the new energy industry is changing,and with the development of new energy sources,the development of grid infrastructure equipment is lagging behind,gradually leading to a serious "abandoned light" problem.The level of financial risk determines whether the company can continue to operate after full grid parity.Therefore,it is particularly important to control financial risks in advance,and new energy companies need to establish appropriate financial risk warning models.In this paper,we select PV enterprise B as the research sample.Firstly,we find out the financial indicators suitable for PV enterprise B from three risk levels: investment risk,financing risk and operational risk,and introduce two indicators that are more suitable for the characteristics of the PV industry: R&D investment strength and government subsidies to establish the financial risk early warning model.Secondly,the entropy value method was used to assign weights to the indicators.Then,the financial indicators of PV enterprise B from 2017 to 2021 were substituted into the early warning model,and the efficacy coefficient method was used to calculate the scores of each indicator,so as to obtain the financial risk warning degree of PV enterprise B in the past five years,and thus to provide early warning for its risk.The results are also analysed to identify the causes of the risks and to propose specific countermeasures to prevent the financial risks of PV company B and to guarantee the effectiveness of the early warning.The addition of cash flow indicators to the traditional early warning indicator system circumvents the limitations of traditional financial indicators,and the use of indicators containing cash flow information to forecast financial risks allows for real-time monitoring of corporate finances,not only to keep an eye on the cash flow situation of the enterprise,but also to alert financial decision-makers to the occurrence of financial risks at the beginning.This study has developed a more suitable financial risk warning model for PV company B,with a view to providing implications for the subsequent financial risk management of PV company B.