Financing Strategies of New Energy Giants: A Case Study on the Capital Structure of Ningde Era

With the advancement of the global “dual carbon” goal, the power battery industry is experiencing rapid development. As the industry leader, CATL’s financing strategy and capital structure adjustment have important research value. This study takes Ningde Times as a case, adopts methods including case analysis and dynamic balance model testing, and deeply analyzes its financing strategies and dynamic capital structure adjustment path to verify the applicability of classical financial theories. This study finds that CATL has optimized its capital structure through diversified financing tools, such as equity financing, green bond issuance, and syndicated loans, effectively balancing equity dilution and debt constraints. At the same time, strategic investments such as joint ventures with automakers and vertical integration of the industrial chain have enhanced market competitiveness and financial stability. The research reveals the capital structure optimization path of Ningde Era under the background of technology iteration and capacity expansion and provides a reference for new energy enterprises to formulate financing strategies, which has important theoretical and practical significance.