Research On The Impact Of Industry Chain Integration Financial Performance Of CATL Company

In the context of "carbon peak,carbon neutral",the state has issued a series of policies to greatly promote the vigorous development of the new energy vehicle and power battery industry,but the intensified market competition has brought about the short supply of upstream resources.In order to solve this problem,the integration of the industrial chain is very necessary.As a leading enterprise in the industry,CATL has experienced a long and representative industrial chain integration.Therefore,this paper chooses CATL industry chain integration as the research object.First of all,on the basis of combing literature and theories,the background of lithium battery industry is analyzed from the perspective of life cycle,and the industrial chain of CATL is analyzed from the upper,middle and downstream links.It is found that the company shows strong competitiveness,is in the leading position in the industry,and has the leading advantage.Secondly,it analyzes the specific integration motivation,which mainly includes four aspects: ensuring the safety of material supply,technological reform of core equipment,expanding sales channels,promoting business model and technological innovation.Then,the integration process is sorted out in detail,and it is found that the company gives consideration to technology integration while ensuring supply,and the innovation and industrial service capabilities are improved.Thirdly,the market reaction and financial performance after integration are analyzed,and the purchasing and sales links,R&D and innovation level of the company before and after integration are compared by comparative analysis method.At the same time,important financial indicators are selected to analyze and find that the industrial chain integration effect of CATL is better,which has a positive effect on financial performance.Finally,the short term market reaction is analyzed by using event study method,and 5important integration events are selected according to investment amount and key time point.The results show that the market basically supports the major integration events of the company,and investors are full of confidence in the integration of CATL industry chain.Through this study,CATL industrial chain integration has effectively controlled product costs,promoted technological innovation,and improved financial performance.Based on these experiences,it is concluded that industrial chain integration should focus on debt risk,core business integration,selection of appropriate integration methods,and emphasis on technology integration.