Research On The Impact Of Government Subsidies On Financial Performance Of CA New Energy Vehicle Enterprises

In recent years,the development of the new energy industry has become crucial to the construction of a beautiful China and the pursuit of sustainable development,resource conservation and environmental protection.New energy vehicles,which are an important part of the new energy economy,require significant investment in the initial research and development phase,and once the products enter the market they face problems of promotion and a shortage of consumables such as batteries,which will undoubtedly limit the long-term development of the new energy vehicle industry.For this reason,the government has invested hundreds of billions of dollars in subsidies for the production of new energy vehicles over the years,and these subsidies have had a significant impact on the development of the industry.Therefore,it is of strong theoretical and practical significance to study the impact of government subsidies on the financial performance of CA new energy vehicle companies.Through the collation and analysis of a large amount of literature at home and abroad,this paper summarises the relevant theories and research results on the relationship between government subsidies and enterprise financial performance,then discusses the government subsidy policies of the new energy vehicle industry,understands the subsidy mechanism of the industry,and selects CA new energy vehicle enterprises as the research object of this paper.In the research process,14 listed new energy vehicle enterprises were selected as samples,and relevant financial data from 2016 to 2020 were collected.The DEA model established was analysed using deap2.1 software,and the comprehensive financial performance of CA new energy vehicle enterprises and the efficiency of using government subsidies were studied by comparing with industry data.At the same time,the financial data of CA New Energy Vehicle enterprises from 2016 to 2020 were selected,and the impact of government subsidies was removed and the financial data was restored according to the disclosure of government subsidies in their financial statements.Based on the restored financial data,the financial performance of CA New Energy Vehicle Enterprises was analysed in terms of profitability,debt servicing,operation and growth capacity.Finally,based on the findings of the study,recommendations are made to enhance the efficiency of the use of subsidies and to improve the financial performance of the enterprises,as well as to provide an outlook on the issues that need to be further explored in the future.The main conclusions are as follows: First,government subsidies have a positive effect on the comprehensive financial performance of CA new energy vehicle enterprises;Second,CA new energy vehicle enterprises show high dependence when government subsidies are on the wane;Third,the trend of government subsidies is opposite to the financial performance of CA new energy vehicle enterprises;Fourth,government subsidies actually play a role in promoting the core competitiveness of CA new energy vehicle enterprises.The relevant research results of this paper also help to measure whether the intensity and results of government subsidies to support new energy vehicle enterprises are effective,and help enterprises to clarify the future development direction and optimize the policy of new energy vehicle industry.