新能源行业作为新兴行业，近些年来得到了快速的发展，尤其在中国，涌现了一大批从 事新能源汽车的企业，且都保持着强大的竞争力。在市场有限且消费降级的节点下，这无疑 对新能源车企造成了一定程度的冲击，加之政府财、政补贴退坡，各新能源车企无疑都存在 着不同程度大小的财务风险。基于此，找出造成财务风险的控制因素，分析财务风险成因， 有助于企业从源头上预防或减少财务风险发生的概率或影响。

X 新能源汽车作为新势力企业，其近些年的收支不平衡，一直处于亏损经营，存在一系 列亟待解决的财务风险问题，比如筹资方式过于单一，盈利能力差，获利能力差等。本文选 取 X 新能源汽车为案例企业，通过对其近年来的财务状况及变化定性及定量分析，识别存 在及潜在的财务风险成因，并评价财务风险的大小，最后提出针对性的控制措施去改善问题， 提升企业的自身财务风险管控能力，让其能在激烈地竞争中立于不败之地。本文主要以资本 结构理论，内部控制理论，现金流量理论等为基础，辅以文献分析法，案例研究法为手段， 以 X 新能源汽车为研究分析对象，从筹资，营运，投资，发展四个方面识别财务风险，建立起熵值法与功效系数法相结合的财务风险评价体系。结果分析得出企业的财务风险主要是 由于筹资方式过于单一、现金需求量大、品牌知名度一般以及市场认可度不高等造成。

基于此，本文提出了相关针对性的措施。包括合理分配研发和销售费用、优化成本管理， 降低成本支出、加强科技创新，大力人才引进、 提高服务质量，树立良好口碑、拓宽融资 渠道，确保资金充足。最后，本文希望通过对 X 新能源汽车为案例的研究，能够为同样是新 能源的国产企业提供一定的借鉴参考意义，为推动国产新能源企业健康稳定发展建言献策。

The new energy industry, as a new emerging industry, has experienced rapid development in recent years, especially in China, where a large number of enterprises engaged in new energy vehicles have emerged and maintained strong competitiveness. In the limited market and consumption downgrade node, this undoubtedly poses a certain degree of impact on new energy vehicle enterprises, coupled with the government's subsidy withdrawal, each new energy vehicle enterprise undoubtedly has different degrees of financial risks. Based on this, identifying the control factors that cause financial risks, analyzing the causes of financial risks, and helping enterprises prevent or reduce the probability or impact of financial risks from the source are beneficial. X New Energy Vehicle, as a new force enterprise, has been operating at a loss in recent years due to an imbalance in revenue and expenses, and has a series of urgent financial risk problems to be solved, such as a single financing method, poor profitability, and poor profitability. This paper selects X New Energy Vehicle as the case enterprise and conducts qualitative and quantitative analysis of its financial status and changes in recent years to identify the existence and potential causes of financial risks, and evaluate the size of financial risks. Finally, it proposes targeted control measures to improve the problems and enhance the enterprise's self-protection ability.

This paper mainly takes capital structure theory, internal control theory, cash flow theory, etc. as the basis, supplemented by literature analysis method and case study method as means, and takes X new energy vehicle as the research and analysis object. It identifies financial risks from four aspects: financing, operation, investment and development, and establishes a financial risk evaluation system combining entropy method and effectiveness coefficient method. The result analysis shows that the main reasons for the financial risks of the enterprise are the overly single financing method, large cash demand, average brand awareness and low market recognition..

Based on this, the paper puts forward targeted measures. These include rationally allocating R&D and sales expenses, optimizing cost management and reducing cost expenditures, strengthening scientific and technological innovation and vigorously introducing talents, improving service quality and establishing a good reputation, and expanding financing channels to ensure sufficient funds. Finally, the paper hopes that by studying the case of X New Energy Vehicle, it can provide certain reference significance for domestic new energy enterprises that are also in the new energy field, and contribute to promoting the healthy and stable development of domestic new energy enterprises.

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