| "New Energy Vehicle Industry Development Plan(2021-2035)" is proposed in the 14 th Five-Year Plan,which further defines the development goals of new energy vehicles,which means that the future development potential of the new energy vehicle industry is huge.New energy automobile enterprises have the characteristics of long investment return period,high dependence on capital,financing difficulty is also an important factor restricting their development.At present,China’s new energy vehicle enterprises are in a period of rapid development.Under the dual pressure of declining state subsidies and increasing industry competition,how to ensure the normal operation of the company’s capital flow,adapt to the tight market competition environment,optimize the financing mode,and improve the financing effect is an important topic for the new energy vehicle enterprises at present and even in the future.In this paper,BYD Company,a typical enterprise of new energy vehicles,is selected as the case study object,and the literature research method and case study method are used to deeply discuss the financing mode and financing effect of BYD Company.First of all,the article elaborated the new energy vehicle enterprise financing mode,financing effect related concepts and theories,and combined with the financing environment and financing status quo of Chinese new energy vehicle enterprises,BYD financing mode for in-depth analysis;Secondly,based on the existing research results,this paper evaluates its actual operation and financial situation based on the financial ratio method and EVA index method to reflect its financing effect under the existing financing mode.Through the study of this paper,it is found that the existing financing model of BYD has some problems,such as unreasonable financing structure,fast growth of equity financing and insufficient diversification of financing channels.In the process of development,the company adopted a more aggressive expansion strategy and increased investment in technological innovation,which led to new risks such as equity dilution,financing cost increase and profitability decline.Finally,this paper puts forward suggestions on the above problems,hoping to provide references for Chinese new energy automobile enterprises to solve the financing predicament,optimize the financing model,improve the financing effect,and guide the healthy development of new energy automobile enterprises. |
