Research On Financial Risk Early Warning Of Guoxuan Hi-tech In The Post-subsidy Era

In the "14th Five-Year Plan",the country emphasized the development of modern industrial system.As an important part of the industrial system,the new energy automobile industry was given a large number of sustained subsidies in the early stage of its development.While the national subsidy policy helps the development of the new energy automobile industry,it has brought negative effects such as excessive reliance on subsidies of enterprises and great financial pressure of the government.The decline and withdrawal of government subsidies in the new development stage marks the entry of the post-subsidy era.In the post-subsidy era,power battery enterprises in the new energy industry chain are under "two-way pressure" from upstream and downstream enterprises,showing problems such as soaring raw material prices and shrinking profit space,which aggravate the hidden financial risks of new energy power battery enterprises.Based on the above background,this paper selects Guoxuan Gaoke,a new energy power battery company,as the research object.First of all,it introduces the basic situation of Guoxuan Hi-Tech and the impact of the post-subsidy era background on the power battery enterprises.Combined with the internal and external environment of the enterprise,it identifies the financial risks of the company,providing evidence for the construction of the financial risk early warning model.Secondly,the correlation coefficient analysis method is used to select and determine 12 indicators,the entropy method is used to objectively assign weight to each indicator,and the efficiency coefficient method is used to build a complete financial risk early warning model.Finally,by applying the financial risk early warning model of Guoxuan High-tech,the early warning results of each subdivision index in five years from 2017 to 2021 are analyzed,and targeted financial risk prevention safeguard measures are proposed.The research found that Guoxuan High-tech has problems such as insufficient cash flow,unreasonable asset structure,weak asset realization ability and so on.According to the early-warning results of financial risk of Guoxuan High-tech,the company as a whole is at a high risk level,so it should timely identify and evaluate financial risks and further strengthen the prevention of financial risks.Through the study of financial risk early warning,this paper can not only provide reference for the management decision of Guoxuan High-tech,but also provide reference for other power battery enterprises’ financial risk early warning.