Study On The Evaluation Of The Financial Competitiveness Of Listed Companies In The Photovoltaic Industry

New energy is becoming increasingly important in the context of a global policy to closely promote the green and clean energy transition and China’s efforts to accelerate the carbon peak by 2030.Photovoltaic power generation is one of the development modes of new energy,which plays a positive role in improving the ecological environment,and has been attached importance by more countries and governments.As a big energy utilization country,we have earlier carried out the layout of photovoltaic industry,and promulgated various policies to support and guide the development of photovoltaic industry.However,the photovoltaic industry has the characteristics of rapid technological upgrading and large capital demand.Relying solely on policy support cannot completely realize the photovoltaic "parity Internet access",and there are some situations such as the reduction of policy subsidies,the increasing degree of marketization and the increasingly fierce competition in the industry.Financial competitiveness,as a comprehensive ability to help enterprises effectively use various resources and ultimately enable enterprises to develop in a long-term and stable way,is necessary and realistic to enhance the financial competitiveness of the photovoltaic industry and help them establish their own competitive advantages.This thesis takes the domestic photovoltaic industry as the research object,selects 63 representative listed companies in the whole industry,sorts out the photovoltaic industry chain,and establishes a set of six aspects,including profitability,debt paying ability,operation ability,growth ability,cash flow management ability and technological innovation ability.The financial competitiveness evaluation system of listed companies in photovoltaic industry includes 17 secondary indexes.Six public factors affecting the evaluation of the financial competitiveness of listed companies in the photovoltaic industry are obtained through dimensionality reduction by factor analysis method.At the same time,the calculation formula of corresponding public factors is obtained by using the component score matrix,and the calculation formula of the final financial competitiveness score evaluation is obtained.According to the data of listed companies in the photovoltaic industry from 2017 to 2021 in the Guotai ’an database,The single factor score and comprehensive score of the financial competitiveness of the sample companies are calculated,and according to the calculated results,the industry chain is sorted.In the case study,this thesis selected Longji Green Energy,a leading enterprise in the field of monocrcrystalline silicon,as the research object.By using comparative analysis method and combining with the evaluation system of financial competitiveness,it analyzed the reasons for its poor ranking performance.The study found that Longji Green Energy and other listed companies in the photovoltaic industry generally had weak profitability,poor management of accounts receivable,and great influence of external environment on operation capacity.Research and innovation capacity is insufficient,and the proportion of research investment needs to be increased.Finally,some suggestions are put forward to improve the financial competitiveness of Longji Green Energy and the financial competitiveness of the whole photovoltaic industry.The case analysis process and research findings of this thesis prove the basic feasibility and reference of this idea.Therefore,the use of factor molecular method to study the financial competitiveness of listed companies in the photovoltaic industry from the perspective of the industrial chain can make us more accurate and comprehensive analysis and thinking of the industry.