Creative Economy
2022,VOL.6,NO.1,53-56
DOI:10.47297/wspceWSP2516-251908.20220601
Rearch on Financial Risk Identification and Control of Y Energy Co.jana jordan
Manshan Luo,Yue Zhang,Mei Zhang
Xi'an Eurasia University,Xi'an Shaanxi710065,P.R.China
ABSTRACT
With the fierce market competition,enterpris encounter various
financial risks at in the process of operation and management,so
adsl什么意思enterpris must identify financial risks,and then actively respond to惧惮
financial risks.With the continuous expansion of the new energy market,
the development of related enterpris and companies is also booming,
but as an emerging industry,it has encountered many inevitable
problems and challenges in the development process.For example,there
are frequent risk events in new energy companies,and at the same time,
problems such as the lack of financial risk prevention measures are
expod.
KEYWORDS
Financial risk;Financial risk identification;Financial risk control
The sales growth of new energy vehicles in China has exceeded that of fuel vehicles.In2020,the production and sales of new energy vehicles will reach1.366million and1.367million respectively. In the first three quarters of2021,the production and sales volume of new energy vehicles also reached2.166million and2.157million respectively,a year-on-year increa of180%and190%.In the n
ew energy industry,battery companies have also become more concerned in the public eye. As a branch of an emerging industry,its characteristics of high investment and high risk make enterpris face more challenges.
According to Sohu Auto,BYD's accounts receivable balance is51.114billion yuan,ranking first among listed car companies.More than70%of BAIC New Energy's total accounts receivable comes from subsidies.CATL,as a reprentative of upstream enterpris in the new energy industry,has also been riously affected.In addition,due to the immature development of new energy in my country,the actual operation of new energy enterpris also has a large number of problems such as huge rearch fees,immature technology,and the competitive advantages of foreign companies.
1Theoretical basis and rearch reviewred eye
Olson(2018)[1]defines the types and caus of financial risks,and points out that the sources of financial risks are uncontrollable factors,so they are important for enterpri risk management. Chalmers(2018)[2]also found the quality of corporate internal control has an important impact on financial risk operations.Chen Yuting(2019)[3]analyzed the identification of corporate financial risks,and believed that each link is full of various risks during operation.Hou Xin and Li Junhang (201
8)[4]pointed out in the relationship between financial risk and financial indicators that the solvency,profitability and operating ability should be focud.Liu Chongnan(2019)[5]studied in
Manshan LUO et al. 54
the main measures of risk prevention of new energy enterpris and found that to improve financial risks,financial personnel,risk control systems and budget management systems should also be considered.
To sum up,this paper identifies the financial risk of Y Co.in the three dimensions of financing, investment and working capital,so that it can develop healthily and steadily so as to reduce the financial risk and maintain the normal business activities.
2Ca analysis
Y Energy Co.,Ltd.is a new type of lithium power company.The company is committed to the innovation and development of lithium batteries and multi-field layout.It is a diversified and differentiated lithium battery pioneer company of lithium source+consumption+power batteries, and has reached the international advanced level in technology.As a leading enterpri in the industry,the
company's operation and development are stable.The financial statements in recent years show that the company has hidden financial risks.It is very important to identify and control financial risks.
(1)Financing Risks
Combined with the financial data of company Y,its current ratio has decread year by year from 2015to2017,and has steadily incread since2017without major fluctuations.
The ast-liability ratio is relatively stable,with the lowest value being28.71in2015,and has declined again from2019to2020.The property ratio soared from2015to2018,reaching a maximum of128.89,and began to decline from2018to2020,from the highest value to49.57.In general,the ast-liability ratio of Y company is relatively stable,and the property ratio changes greatly,indicating that there are unstable factors in the development of the enterpri.
From2015to2018,the shareholders'equity ratio decread year by year,and the debt ratio incread year by year;from2018to2020,it showed an upward trend,and the debt showed a decreasing trend.Compared with the industry average,it ems that2019-2020is higher than the average,and Y company is on the ri compared with the industry average.It could lead the growth, indicating that the company's operations tend to be stable.
(2)Investment Risks
Y's financial report shows that foreign investment has incread year by year,especially in the past two years,but investment income has declined.It can be en from the annual report that Y investment is mainly in R&D,and more benefits are obtained by developing high-performance batteries.
According to annual report,the net profit rate of Y first ris and then fall from2015to2020,and the ROE is higher than the ROA.The earnings per share of Y showed an upward and downward trend,and the highest value exceeded the6yuan,but reaching1.64yuan in2019and0.89yuan in 2020.
(3)Working capital risk
According to the annual report data,it is found that the company's cash flow ratio has dropped sharply in2015-2016,but its solvency gradually improved in2016-2020.Although the accounts receivable and inventory data are increasing year by year,the accounts receivable turnover ratio and inventory turnover ratio are relatively low,and the accounts receivable turnover ratio has declined, and the inventory turnover ratio has incread in recent years.The total ast turnover ratio was relatively stable.
Creative Economy
55 3Financial Risk Control Measures
(1)Financing risk
ch nes农村人exa.Public issuance of bonds
The company's total liabilities increa year by year,of which current liabilities account for more than65%,and the peak is clo to80%.Once emergencies occur,corporate curity will be verely challenged.Moreover,the proportion of equity and creditor's rights is not coordinated,and the financing risk is relatively high.We can try to reduce financing risks through private placement or public issuance of corporate bonds,private issuance of exchangeable corporate bonds.
b.Optimizing capital structure
A healthy and reasonable capital and liability structure will help new energy companies maximize the u of funds and bring benefits.In addition to ensuring the return of investors'capital investment and stimulating investors'enthusiasm for investment,it can also help enterpris to carry out more types of larger-scale projects to expand the market.赧然
(2)Investment risk
cost的用法
themountainThe current domestic new energy industry market environment is not optimistic.From2015to 2020,the return on net asts of Y is below the industry average,and there is a certain gap with other companies in the same industry.Therefore,if Y wants to develop a stable development trend, under the goal of synchronizing the growth of enterpri scale and strength,new profit growth points and continuously improved profitability will help the enterpri to gain a higher share in the market competition.
(3)Operational risk
a.Strengthen inventory management
Through comprehensive models such as raw material management,classification management, and scenario management,we can avoid unfavorable factors such as product out-of-stock and material extrusion that may lead to financial risks of enterpris.Inventory level and stable warehou management capabilities,and actively participate in the financial risk management and control of enterpris.
b.Renew a credit rating system
Some accounts receivables have a long age and the collection of subsidy receivables is slow. Through the financial report data,it is found that the turnover rate of accounts receivable of Y shows an overall downward trend,and the amount is larger and higher than the industry average.It is recommended to review the credit of customers and formulate corresponding credit policies for risk control,and to allow customers with higher credit ratings and stable cooperation to allow credit limits and account periods.
4Conclusion
Through the identification and control of financial risk for Y,it is found that its financial risk is mainly reflected in the unreasonable financing structure,the decline in profitability,the long recovery period of accounts receivable,and the increa in risk.Y's financial risk sources are mainly affected by internal and external factors.This paper puts forward the main suggestions for improving the control ability,including the rationality of capital utilization,the optimization of debt maturity structure and financing structure,the improvement of profitability and scientific and efficient operation.At the same time,combining corporate characteristics,tting up an early warning department and building a unique financial risk early warning system to prevent financial risks from occurring.
Manshan LUO et al. 56
About the Author
Manshan Luo,master,teaching assistant,rearch direction:management accounting and incubator. References
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