Study On The Investment Value Of Lithium Battery Listed Companies In China

In the report of the 20 th National Congress of the Communist Party of China,the upgrading of the green development strategy was emphasized,and at the same time,for the first time,it was proposed to actively and steadily promote the goal of carbon neutrality.The lithium battery industry chain plays an important role in the adjustment of industrial structure,energy structure and the realization of double carbon goals.Lithium battery,as a strategic emerging industry,is a key development industry in the country and has been sought after by the capital market.With the development of the economy and the strengthening of policy support,the lithium battery industry has attracted widespread attention from investors because of its high technology content,high growth rate and broad market prospects.In this context,there is currently no in-depth research on the investment value of lithium batteries.Therefore,this article is of great significance in theory and practice for studying the investment value of lithium batteries and finding listed companies with investment value.This paper first analyzes the development status and industry characteristics of lithium batteries,and finds out the influencing factors that affect the investment value of lithium battery listed companies.Selected 60 A-share listed lithium battery companies,in addition to drawing on the financial indicators commonly used by previous scholars,combined with the characteristics of the lithium battery industry to innovate the selection of indicators,added non-financial indicators to supplement the analysis,and carried out factor analysis.Composite score for 2019-2021.Combined with the performance of the three-year comprehensive score,it is found that Kstar,Aviation Rainbow,Tianyuan,Derui Lithium Battery,and Fangda Carbon have relatively high investment value.Then,the logistic regression model was used to conduct regression analysis on the factor score results,which proved the feasibility of factor analysis,and found that the important financial indicators affecting lithium batteries are mainly the company’s profitability and solvency,and the non-financial indicators are mainly the company’s governance ability.Then,benchmarking analysis was carried out with market indicators.First,the return rate of the top 15 listed companies over the years was compared with that of the Shanghai Composite Index.It was found that only a few listed companies had a rate of return lower than that of the Shanghai Composite Index,and most listed companies outperformed or even Far ahead and the return rate of the Shanghai Composite Index once again confirmed the reliability of the ranking.Then compare the rankings of the top 15 companies over the years with their price-to-book ratios,and further verify that the stocks of Kstar,Aviation Rainbow,Tianyuan,Derui Lithium,and Fangda Carbon have investment value.Based on this,the following suggestions are made: firstly,lithium battery listed companies should seize the advantages of the lithium battery track to attract strategic investors.At the same time,while delving deeper into a certain field,it is also necessary to balance the development of various abilities and avoid weaknesses.Secondly,market investors and strategic investors should pay attention to companies with high factor rankings,with a focus on profitability and operational capacity indicators in the financial aspect,and corporate governance indicators in non-financial aspects.They can increase their holdings of Kodak and Derui lithium batteries,which have ideal factor scores and are undervalued for three years.Thirdly,the government should clarify its development strategy,actively strive for the initiative in reserves and production capacity for the lithium battery industry,and promote the high-quality development of listed lithium battery companies.Promote the implementation of a comprehensive registration system and support high-quality companies in the industry.