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二十大报告着重强调了新能源汽车发展及绿色环境的重要性，推动传统汽车产业向新能源方向转型升级成为低碳经济进程中的迫切任务。尽管新能源汽车作为新兴领域发展潜力巨大，但目前仍处在发展初期，面临着诸多挑战。特别是在当补贴政策逐渐退坡以及高额研发投入带来压力的背景下，传统汽车企业在转型过程中可能遭遇财务风险，甚至陷入财务困境。因此，对处于转型期的传统汽车产业进行财务风险研究显得尤为必要。这不仅有助于深化我们对转型期汽车制造领域财务风险的认识，为实践应用提供理论支持，更有助于汽车企业在激烈的市场竞争中稳健发展，实现可持续发展目标。

汉马科技自1970年创立，历经五十多年的深厚积累与持续发展，现已进入产品升级转型的关键时期。因此，本文选择汉马科技作为研究对象，对其财务风险状况进行分析。首先，通过对汉马科技2018至2022年五年的财务数据进行系统梳理，从筹资、投资、经营以及现金流四个核心维度出发，利用一系列指标进行了横向与纵向的对比，以识别其潜在的财务风险。其次，构建财务风险评价体系，在构建体系时，先从四个维度初步筛选出19项关键指标。随后，通过综合运用熵权法、相关性测试法及功效系数法，对指标进行筛选与优化，剔除了8项信息重叠的指标，从而构建出一个更加贴合汉马科技实际情况的财务风险评价体系。基于这一体系，进一步计算出了风险得分并确定了相应的风险等级区间，为全面评价汉马科技的财务风险提供了有力支持。最后，结合汉马科技的实际运营状况，分析了其财务风险的主要成因，包括成本费用水平偏高以及产品市场竞争力有待提升等问题。针对这些问题，本文提出了相应的控制措施建议，如加强成本管控、建立全面的风险监管机制等。

本文旨在通过对汉马科技财务风险的深入研究，为其长期、可持续的健康发展提供有力支持。同时，期望本文的研究成果能够为处于相似发展阶段的同行业公司提供有价值的财务风险评价与控制参考。

The report of the 20th National Congress of the Communist Party of China has emphasized the importance of the development of new energy vehicles and a green environment, making the transformation and upgrading of the traditional automotive industry towards new energy an urgent task in the process of low-carbon economy. Although new energy vehicles have tremendous potential as an emerging field, they are still in the early stages of development and face many challenges. Especially in the context of the gradual withdrawal of subsidy policies and the pressure brought by high R&D investment, traditional automotive enterprises may encounter financial risks or even fall into financial difficulties during the transformation process. Therefore, it is particularly necessary to conduct financial risk research on the traditional automotive industry during the transition period. This not only helps deepen our understanding of the financial risks in the automotive manufacturing field during the transition period, providing theoretical support for practical applications, but also contributes to the steady development of automotive enterprises in fierce market competition and the achievement of sustainable development goals.

Hanma Technology has been established since 1970 and has entered a critical period of product upgrading and transformation after more than 50 years of profound accumulation and continuous development. Therefore, this paper chooses Hanma Technology as the research object to analyze its financial risk status. Firstly, through a systematic review of Hanma Technology's financial data from 2018 to 2022, a series of indicators were used to conduct horizontal and vertical comparisons from the four core dimensions of financing, investment, operation, and cash flow to identify potential financial risks. Secondly, a financial risk assessment system was constructed. In the process of constructing the system, 19 key indicators were initially screened from the four dimensions. Subsequently, through the comprehensive application of entropy weight method, correlation test method, and efficiency coefficient method, the indicators were screened and optimized, and 8 overlapping indicators were eliminated, resulting in a financial risk assessment system that is more aligned with the actual situation of Hanma Technology. Based on this system, risk scores were further calculated and corresponding risk level intervals were determined, providing strong support for a comprehensive evaluation of Hanma Technology's financial risks. Finally, combined with the actual operating conditions of Hanma Technology, the main causes of its financial risks were analyzed, including high cost levels and the need to improve product market competitiveness. In response to these issues, this paper proposes corresponding control measures and suggestions, such as strengthening cost control and establishing a comprehensive risk supervision mechanism.

This paper aims to provide strong support for the long-term and sustainable healthy development of Hanma Technology through a deep study of its financial risks. At the same time, it is hoped that the research results of this paper can provide valuable references for financial risk evaluation and control for companies in the same industry that are at a similar stage of development.