Financial risk analysis and control of new energy vehicle companies: Taking BYD Company as an example

China plans to have a peak of CO2 emissions before 2030 and achieve carbon neutrality before 2060. With the advancement of this “dual carbon” strategic goal, the market size of new energy vehicles will continue to expand, and potential financial risks will become increasingly prominent. To effectively deal with financial risks, this paper takes BYD, a well-known brand in the new energy vehicle industry, as the research object, according to the relevant theories of financial risk management, such as the Theory of identification, analysis and control of financial risks. This paper uses literature research and comparative analysis methods to analyse the financial risks of enterprises from four dimensions: financing, investment, operation, and growth. It also makes a horizontal comparison with SAIC Group, Great Wall Motors, and Tesla in the same industry during the same period, fully revealing the financial status of BYD. As a result, BYD Company has problems, including an unreasonable capital structure, unreasonably selected investment projects, and insufficient management, which aggravate its financial risks. Therefore, measures such as increasing R&D investment, optimising capital structure, and improving operational capabilities are proposed to mitigate such risks.