本文通过对比亚迪公司分析发现，比亚迪发展战略的弊端开始显现出来。通过会

Through analysis of BYD, this article found that the shortcomings of BYD's development strategy began to appear. Through accounting analysis, it can be found that BYD has a high proportion of fixed assets, accounting for about 40% of total assets. Accounts receivable have grown too fast, and their share of total assets has also increased year by year, with bad debt reserves at a high level. This is due to the company's credit sales model. The high level of accounts receivable and difficulties in collecting payments have caused the company to run out of cash. <br>Through the analysis of the Harvard framework of BYD ’s financial statements, it can be found that the shortcomings of BYD ’s vertical integration strategy have begun to appear, and the company needs to adjust its development strategy.

Through the analysis of BYD, this paper finds that the shortcomings of BYD's development strategy are beginning to appear. Through accounting analysis, it can be found that BYD's fixed assets account for a high proportion, accounting for about 40% of the total assets. Accounts receivable growth is growing too fast, the proportion of total assets is also increasing year by year, bad debt provisions are at a high level. This is due to the company's use of a credit sales model. The high level of accounts receivable and the difficulty of collecting collections have led to a shortage of cash for the company.<br>Through the Harvard framework analysis of BYD's financial statements, we can find that the drawbacks of BYD's vertical integration strategy are beginning to show that the company needs to adjust its development strategy.

Through the analysis of BYD, this paper finds that the disadvantages of BYD's development strategy begin to appear. Through accounting analysis, we can find that BYD's fixed assets account for a high proportion, about 40% of the total assets. The accounts receivable increase too fast, the proportion of total assets is also increasing year by year, and the provision for bad debts is at a high level. This is due to the company's credit sales model. The high accounts receivable and the difficulty of collection lead to the shortage of cash.<br>Through the Harvard framework analysis of BYD's financial statements, we can find that the disadvantages of BYD's vertical integration strategy have begun to appear, and the company needs to adjust its development strategy.