| As an emerging industry,the development of new energy vehicles is not yet very mature.In recent years,the problems caused by the tightening of policy subsidies and the increase of relevant preferential thresholds have gradually become prominent.In addition,with the rise of new forces in the internet car industry,market competition is becoming increasingly fierce and facing severe financial risks.Finding the driving factors that affect financial risks is a key step in controlling financial risks for enterprises,helping them prevent financial risks from occurring at the source.As a new force enterprise,NIO Automobile’s financial risk is essentially an imbalance between profit and loss.Traditional single financial risk outcome evaluation cannot provide guidance for NIO Automobile,and it needs to link business and strategy to accurately evaluate.Financial risk assessment is essentially a risk management mechanism that identifies,evaluates,and responds to uncertain factors that may affect the achievement of the overall strategic goals of the enterprise.Therefore,analyzing from the perspective of enterprise strategy is more conducive to comprehensively evaluating the financial risks of the enterprise.The Balanced Scorecard is a bridge connecting strategic and financial risk assessment.Its advantage lies in incorporating the driving factors that affect financial risk in both the financial dimension and the customer,internal processes,and learning and growth dimensions into the financial risk assessment of the enterprise.The combination of outcome indicators and process indicators serves the enterprise strategy,forming a two-way promoting cycle between strategy and goals.In this regard,this article selects NIO Automobile,a representative enterprise of new forces,as a research case,which can set an example for other new energy vehicle companies.Firstly,the overview,development history,and financial risk status of NIO Corporation are discussed.Based on the relevant data of NIO Automobile’s financial statements,the financial risks faced by NIO Corporation are identified from four aspects: fundraising,investment,operation,and income distribution.It is found that its financial risks mainly stem from unstable profitability,unreasonable capital structure,and excessive investment risks.Combining the driving factors that affect financial risk,a financial risk evaluation system for NIO Automobile is constructed based on the four dimensions of the balanced scorecard.The weights of each indicator are calculated using the Analytic Hierarchy Process(AHP),and a comprehensive evaluation of NIO Automobile’s financial risk situation in 2021 is conducted.The financial risk evaluation result is average,and the degree of financial risk is relatively high.By using the Balanced Scorecard to evaluate financial risks,we can analyze the current financial risk issues of NIO Automobile from the perspective of causality.Based on the evaluation results and the driving factors that affect financial risks,it is concluded that NIO Automobile’s financial risks mainly manifest as imbalanced profits and losses,unreasonable capital structure,and excessive investment risks.However,the root causes are high operating costs,narrow financing channels,and worrying after-sales service Low customer satisfaction and high employee turnover rate.Finally,targeted improvement suggestions are proposed to address these issues and root causes,in order to promote the achievement of NIO Automotive’s strategic goals. |
