Classical economics argues that enterprises will makethe decision of stopping production or withdrawing from the marketwhen thecommoditypriceis lower than its variable cost. However

the production scale ofcommodities is still expanding in bearish commodity markets (2011-2015) when the productcost is up- side down.By taking the aluminum production enterprises as the research object

this paper analyzes the reasons why energy enterprises make decisionsnot conform- ing to economic principles (meaning to stop production when the selling price is lower than variable cost) to adopt theexpansionary competitive strategy from the perspective of game theory

furtherproposes correct strategies of preventing and controlling financial risks

as well as promoting the sustainable and healthy devel- opment of enterprises

in order to provide the new vision for energyenterprisesfor- mulating effective competitive strategies in theinverse market cycle environment.