Research On Optimization Of Financing Structure Of BYD New Energy Automobile Company

In recent years,with the strengthening of environmental awareness and the intensification of energy scarcity,the automotive industry has begun to develop towards reducing energy consumption and promoting green and low-carbon development.The Chinese government has greatly promoted the development of the new energy vehicle industry by implementing subsidies and introducing a series of preferential policies such as tax reduction and fee reduction.However,as a high-tech industry,new energy vehicles have the characteristics of long investment return period and high dependence on funds.Financing difficulties have always been an important factor restricting the development of the new energy vehicle industry.As subsidies gradually decline and market competition becomes more intense,solving financing difficulties,maximizing financing effectiveness,avoiding a cliff like decline in new energy vehicle sales,ensuring the normal operation of the company’s capital flow,maintaining the achievements of the new energy vehicle industry that have not been easy to achieve,and achieving healthy and sustainable development of the new energy vehicle industry are important issues that new energy vehicle enterprises urgently need to solve in the current and future period.Taking BYD New Energy Automobile Company as the research object,this paper uses the research methods of literature research,case analysis and analytic hierarchy process,and combines the relevant theories of financing to sort out the relevant literature on financing structure.On this basis,the basic situation and business of BYD New Energy Automobile Company are briefly introduced,and the financial data and financing structure of the company in recent years are comprehensively analyzed.Compared with the enterprises with better development level in the same industry,it is found that BYD New Energy Automobile Company’s asset-liability ratio is slightly higher,and there are also debt term structure is unreasonable;The financing mode is not diversified enough;Over-reliance on financial subsidies and other issues.The main reasons are: the financing structure lacks reasonable planning;The threshold of capital market is high,which limits the scale of financing;Changes in the economic environment have caused shocks.Combined with analytic hierarchy process,the financing structure optimization scheme of BYD Company is designed and applied.In view of the problems existing in the above financing structure,this paper puts forward specific measures to optimize the financing structure of BYD New Energy Automobile Company: first,enhance the internal financing ability of enterprises;Second,appropriately reduce the asset-liability ratio;Third,strengthen equity financing and adjust financing structure;Fourth,speed up asset turnover and improve profitability;The safeguard measures put forward are as follows: first,make full use of policies and grasp the financing trend;Second,improve the financing risk management system;Third,strengthen the management of professional financing talents;Fourth,continuously improve the core competitiveness of enterprises.