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1、短期融资及设备融资风险管理扒凹掷际动锯侩搅土穴宿简展寄抿赤估卉多范预斜筏傈饮粤掌涣朝俱兵纸短期融资及设备融资风险管理短期融资及设备融资风险管理 引言引言 Introduction 数据一：上市公司数与中小企业数的比较数据一：上市公司数与中小企业数的比较Data I: Comparing the number of public companies and small and medium-sized enterprises (SME) 截止2008年6月5日 国内中小企业数 As of June 5, 2008 the number of small and medium-sized ente
2、rprises 2006年底3151.8万家，较上年增长 11.2% ，预计2012年将达到5000万 家，年均增长率 7%-8% There were 31.518 million SMEs at the end of 2006, an increase of 11.2% year-on-year. It is estimated to be up to 50 million SMEs by 2012, a yearly average increase of 7%-8%.上市公司数Listed Companies总市值Total Market Value(RMB, Hundred Mill
3、ion)上交所 Shanghai Stock Exchange864家176960.08 深交所Shenzhen Stock Exchange711家43,001.06 中小企业板Small and medium-sized enterprise(SME) board246家9,047.55 VS场碘丙添祖脏烤铰敷劣叮扇醇鸳木禾骗菏暮地铃是蟹吞狭孕皑啸俱晴陛歼短期融资及设备融资风险管理短期融资及设备融资风险管理 引言引言 Introduction 数据二：直接融资额与间接融资额的比较数据二：直接融资额与间接融资额的比较Data II: Comparing of the value of dir
4、ect financing and indirect financing 直接融资Direct financing间接融资Indirect financing2007年直接融资额8710亿元，占当年融资总额的17.5%，比2006年提高5.2个百分点 In 2007, the value of direct financing reached RMB 871 billion, 17.5% of the total value, It increased 5.2% compared with 2006.2007年底，人民币贷款余额达277746.53 亿元At the end of 2007,
5、the loan balance of RMB reached RMB 27774.653 billion.奶锤掺仰宛橙径邱铺话犁廖即踌伺澎俐勇低旷摸伪酌谁村纷井洪臂振啸孤短期融资及设备融资风险管理短期融资及设备融资风险管理引言引言 Introduction 数据分析数据分析 Data Analysis 能直接融资的企业仍为少数，大多数企业需依赖自有资金及银行融资Few enterprises are able to finance directly. Most of the enterprises depends on owned-capital and bank financing.直接融
6、资比例虽有所提高，但间接融资仍居于主导地位。Though the percentage of direct financing increased, indirect financing still occupies a leading position. 换澳椒桐才是追螟霹塌更梁同叫庞乘吻鱼拷向砖凝灭祥怠津竞悼焰傻远乓短期融资及设备融资风险管理短期融资及设备融资风险管理 引言引言 Introduction中国金融机构贷款余额及构成Loan Balance and break down of China Financial Institutions单位:亿元In RMB, Hundred Mi
7、llion贷款余额年平均增长16%The yearly average increase of 16% in the loan balance.Short-term loanMedium and long-term loanOthers人裁乔甘般辑卧蓄釜灌峨龚晾蝉仍延甄形戳四蝶拟赌筛寓娩惺田庚怨骄型短期融资及设备融资风险管理短期融资及设备融资风险管理第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products不基于单笔贸易的短期融资品种不基于单笔贸易的短期融资品种 The
8、varieties of short-term financing products based on non-single trade transaction营运资金贷款Working capital loan周转限额贷款Revolving line of credit loan临时贷款Temporary loan搭桥贷款Bridge loan贷款承诺Loan commitment坏勺筷哦额肢滤萧秸驹傅诚涸臆首骤劈斯赋苛漏逃激遗昼伊隐绩串碱睁浦短期融资及设备融资风险管理短期融资及设备融资风险管理1 1、营运资金贷款、营运资金贷款1. Working capital loan1. Workin
9、g capital loan满足借款人日常经营中合理的连续使用需求The borrower uses for normal business operations or to meet continuous need for capital未来综合收益和其他合法收入等作为还款来源Future income and other legal income are the resources for repayment.可采用循环贷款方式，一次签约、多次提款、逐笔归还，循环使用It could be revolving loans. Sign contract once, draw down sev
10、eral times, repayment by transactions.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products也莆弦水盯倡谜范颂琐腾釉寿掸又涝漠谁门壬蹭否源钦蜘堤惯腋虎巡口嘿短期融资及设备融资风险管理短期融资及设备融资风险管理2 2、周转限额贷款、周转限额贷款2. revolving line of credit loan满足借款人日常经营中确定产品用途项下的资金短缺需求 Finance confirmed products in normal o
11、peration when borrower are short of capital以约定的、可预见的经营收入作为还款来源The agreed predicted operating income is the repayment resource.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products窃橇鹰图迅妖隶伤白畴龙捡簧烟粕碧伦郝确索金三洋懈灸鹅耐遁规菜富颓短期融资及设备融资风险管理短期融资及设备融资风险管理3 3、临时贷款、临时贷款3. Temporary
12、 loan满足季节性或临时性的资金需求To finance the seasonal or temporary capital needs.依据订单组织备货和生产Preparing the material and production according to the order.以对应的产品（商品）销售收入和其他合法收入等作为还款来源The sales of relevant products and other legal income are the repayment resources.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varietie
13、s of Domestic Short-term Financing Products纺篷匣验圆伦娇捌茸巢焊政磊大兜苔创纤菌漏牌岳柏荐锑衍吩碟劣卤尔柔短期融资及设备融资风险管理短期融资及设备融资风险管理4 4、搭桥贷款、搭桥贷款4. Bridge loan满足阶段性的资金需求To finance the interim capital needs.以未来所获政府拨款等非经营性现金流作为还款来源The cash flow from non-operation is the repayment resource, such as government funding.主要适用已落实计划内资金暂时无
14、法到位，需要先行垫付资金的借款人（学校、医院等事业法人或城市建设投资公司等企业法人） It is mainly to finance the borrowers until permanent or the next stage of financing can be obtained, such as school, hospital or other non-profit organizations and urban develop and investment companies.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of
15、Domestic Short-term Financing Products闷卢胖边逮神节猪嫉断咖艺诧表眉兆系役床警刹拇约阮戚淫汐记碰层哦讹短期融资及设备融资风险管理短期融资及设备融资风险管理5 5、贷款承诺、贷款承诺5. Loan commitment满足借款人未来一定时期内或有的融资需求，向其出具的具有法律约束力、允许其在需要时按照合同约定条件提取贷款的信贷承诺To meet the contingent financing needs in a certain period in the future, the a lender makes commitments that are co
16、ntractual obligations for future funding to a borrower on specific terms in return for a fee为借款人提供信用支持（发行债券或商业票据、向第三方融资、收购资产）Provide credit support to borrowers such as bonds, commercial paper, financing from a third party, acquiring assets, etc.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of D
17、omestic Short-term Financing Products拨箔温双选页妻砷勾厚俐厢运车颠绕搬恶刮泊骤畴韩阳杭美准捆荒附和妆短期融资及设备融资风险管理短期融资及设备融资风险管理基于单笔贸易的短期融资品种基于单笔贸易的短期融资品种The varieties of short-term financing products based on single trade transaction保理Factoring打包贷款Packing loan国内发票融资Domestic invoice financing第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The
18、Varieties of Domestic Short-term Financing Products刻扼碾喷单愚轧岭瘸诛泛楞邯邱鸿瘴析侩整刻捂辐黎痘丈帅寞撰碧惹羔妹短期融资及设备融资风险管理短期融资及设备融资风险管理1 1、保理、保理 Factoring Factoring应收账款须符合以下条件：The accounts receivable (AR) should meet the following requirements: 1.应收账款权属清楚，销货方未将其转让给任何第三人，也未在其上为任何第三人设定任何质权和其他优先受偿权； The property of the AR shoul
19、d be clear. The seller neither sell it to any other third party nor set any other pledge right or priority right to be repaid on the AR. 2.销货方与购货方在合同中未约定应收账款不得转让的条款There are not any terms that the AR couldt be sold in the contract between the seller and debtor. 3.应收账款账期与行业特征相吻合The period of AR shoul
20、d be accord with the industry.销货方Seller购货方Debter购销合同Contract银行（保理商）Bank (Factor)应收账款转让Sells its accounts receivable融资、账款管理Financing and account managmeent还款repayment资信调查Credit investigation第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products雌誉禽逸形乘诚谎占燥豺众院瓮军恭诡孝野思
21、铅氦吃痹丢馒无几粱部幽火短期融资及设备融资风险管理短期融资及设备融资风险管理2 2、打包贷款、打包贷款2. Packing loan2. Packing loan用于出口商装船前生产、收购、运输等费用的支出 provide support to export enterprise to finance the expenses of production, acquisition, transportation before shipping.出口商以收到的信用证项下的预期收汇款项作为还款来源The predicted remittance under L/C from export ente
22、rprise is the repayment resource.第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products埂犯屎申熔骸萨琶勾脊木钾淖秦陈莱先熄诫吁拎集考尚豌瘁并槛藤桐甩谈短期融资及设备融资风险管理短期融资及设备融资风险管理3 3、国内发票融资、国内发票融资3. Domestic invoice financing境内销货方（借款人）在不让渡应收账款债权情况下，以其在国内商品交易中所产生的发票为凭证向银行融资If the seller doesnt sel
23、l its AR, the seller get loan from the bank by the invoice of domestic trade.发票所对应的应收账款为第一还款来源The amount of the AR on the invoice is the first repayment resource.适用于与银行核心客户具有稳定购销关系、并为其提供上游配套产品的中小客户或中低端客户It applies to medium and small customers who has a stable relationship between the key customers
24、of the banks. 发票及其对应的应收账款须符合以下条件：发票及其对应的应收账款须符合以下条件： The invoice and the AR should meet the following requirements: 1. 发票真实、合法、有效；The invoice is authentic, legal and effective. 2. 发票所列商品为销货方的主营产品 The product listed in the invoice should be the main product of the seller. 3. 应收账款还款期限一般不超过半年；The accou
25、nt period of the AR cant exceed half a year. 4. 应收账款权属清楚 The property of the AR should be clear. 第一部分第一部分 国内短期融资主要品种国内短期融资主要品种Part I The Varieties of Domestic Short-term Financing Products甫共邓吧狡叙桩范炸涯恒佃丑剧碴概支樟菜炯肃具肝赵老囤缚淄酝彻澈驹短期融资及设备融资风险管理短期融资及设备融资风险管理第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on t
26、he credit risk of short-term capital 短期资金授信相关风险短期资金授信相关风险The credit risks of short-term capital债务主体风险 debtor risk市场风险 market risk业务风险 operation risk政策风险 policy risk担保风险 guarantee risk银行管理风险 bank management risk啡吟格锻淘俗咎期疹阶融掇成镭精溉柬藐娶皆结脏扇端晕脊贞兆旱殃磷簇短期融资及设备融资风险管理短期融资及设备融资风险管理 1、债务主体风险、债务主体风险1.Debtor risk风险风
27、险识别识别“5C”法则法则5C principles in defining risks特质（特质（Character） 资本（资本（Capital） 能力（能力（Capacity） 环境（环境（Condition） 抵押（抵押（Collateral） 风险规避措施：Means of avoiding risks信信息息收收集集财财务务分分析析非非财财务务分分析析趋趋势势分分析析第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capitalInformation collect
28、ionFinancial analysisNon-financial analysisTrend analysis胶河族左秒郭滔斑畸鼠嚣糜吁钠对寸凭矫囤炉门袭琵诣繁耐苑掀箱狮官矽短期融资及设备融资风险管理短期融资及设备融资风险管理 2、市场风险、市场风险 2. Market risk市场市场风险风险识别识别Define the Market risk宏观经济宏观经济 Macro economy 行业周期及波动行业周期及波动Industry cycle & fluctuation 竞争状况竞争状况competition行业壁垒行业壁垒Industry barriers 产品替代性产品替代性Pro
29、duct Substitutability 风险规避措施：Means of avoiding risks行业分析行业分析Industry analysis汇汇率率风风险险利利率率风风险险产产品品价价格格波波动动受信人风控水平分析受信人风控水平分析Risks of borrower analysis第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capitalExchange rate riskInterest rate riskPrice fluctuation讼颗掇倪醚壳读磅
30、辫服陛芽镍巧帜贼娠楼韧窃孙制涯股嚏参黎预丧曳钵太短期融资及设备融资风险管理短期融资及设备融资风险管理3、业务风险、业务风险3. Operation risk 不基于单笔贸易的短期融资业务风险The risks of short-term financing products based on non-single trade transaction 用途合理性 Fair in the usage金额合理性 Fair in the amount还款来源的可靠性 Reliability of repayment 风险规避措施： Means of avoiding risks加强贷后检查 Stren
31、gthen the check after the loans合理计算授信额度 rational calculate the credit quota第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital刃卫愈辉掇汲适卯睡檀角皿丈空嚷觅雕侠撒盆滦艰零敬其坯拘洗滨克棋枕短期融资及设备融资风险管理短期融资及设备融资风险管理3、业务风险、业务风险3. Operation risk基于单笔贸易的短期融资业务风险：The risks of short-term financing
32、 products based on single trade transaction贸易背景的真实及公允性 True and fair in trading background融资额与信用证、发票金额的匹配性 The accordance among financing value, L/C and invoice融资期限与物流、资金流周转期限的匹配性 The accordance among financing terms, logistic and turnover of capital.风险规避措施： Means of avoiding risks认真审查业务相关合同及发票 Care
33、ful checking on related contract and invoice关注货物运输及资金划转路径 Pay more attention to transportation and capital transfer第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital议发涂腕莉糯挥鸳祟鬃铂拖秉含潦鳖丹雅奋淖悔贱孕漆拆蒲酱犁扁族操聋短期融资及设备融资风险管理短期融资及设备融资风险管理授信额度合理性计算举例授信额度合理性计算举例Example: ration
34、al calculation of the credit quota 资产负债表 Balance Sheet资产 Assets 负债及权益Liabilities & Shareholders Equity 现金 cash 80 应付账款 accounts payable 400应收账款 accounts receivable 700 应付费用 accrued expenses 80存货 inventory 500 短期借款 short-term liabilities 450 流动资产 current assets 1280 一年内到期的长期负债 long-term liability due
35、 within one year 50固定资产 fixed assets 1220 流动负债 current liabilities 980 总资产 total assets 2500 长期负债 long-term liabilites 550 所有者权益 shareholders equity 970 负债及所有者权益 2500第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital朵岔虱烹鳃皖充炼渤罪姓痕仓笺末稿蒲清稍攀疯记嘻淳掳棵挺棕率桐扬恍短期融资及设备融资风险管
36、理短期融资及设备融资风险管理 损益表 Income Statement 主营业务收入 Revenue of main business 9125 主营业务成本 Cost of main business 6100 营业费用 Operating expenses 2550 假设年采购金额为 6430（主营业务成本期末存货-期初存货），则根据上述报表中数据，Suppose the annual purchase is 6430 (Revenue of main business + ending inventory beginning inventory), according to the ab
37、ove data in the financial report, 日均销售额 daily sales 25 日均销售成本 daily cost of goods sold 16.71 日均营业费用 daily operating expenses 6.99 日均采购额 daily purchase 17.62第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital廷鹤典茄试苔桂耀漫估田淄柠翰惺攘马舒艘锋乞坛靳扣擒娠蛆绪辫舶虑痰短期融资及设备融资风险管理短期融资及设备融资
38、风险管理 营运资金转换周期Turnover of operating capital 流动资产 Current assets 流动负债 Current liabilities现金周转天数 Cash conversion cycle 3.2 应付账款周转天数 Days payable 22.71应收账款周转天数 Days receivable 28 应付费用周转天数 Days expenses outstanding11.45存货周转天数 Days inventory 29.92流动资产周转天数 Current assets turnover 61.12 流动负债周转天数 Current lia
39、bilities turnover 34.16 流动资产转换周期与流动负债转换周期的时间差Delta of current assets turnover and current liabilities turnover 61.1234.1626.96 营运资金需求量 Working capital needed26.9616.71450.53第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital彰侨翻励行物搓蹲禽劝嘘斡版贴垄化断糊钧潦广皑尔瞎任庆性腊去浪镣蚂短期融资及
40、设备融资风险管理短期融资及设备融资风险管理 根据上述财务数据计算的营运资金需求量，即企业需向银行融资的金额，与资产负债表中的短期借款450相核对：The working capital calculated from above financial data is the amount that the enterprise needs from the bank. Compared the number with the short-term liabilities in the Balance Sheet, 若企业向银行融资额450，则银行资金存在被挪用的风险。If the financi
41、ng amount is more than 450, there will be risk of peculating the funding from the bank. 上述融资额的计算为理想状态下的融资额，由于依赖于如下假设条件，在实际运用中会产生一定的偏差：The above method is an ideal way to calculate the financing amount. There will be difference in practice because of the below assumptions:未考虑企业资本结构因素；Not considering
42、the structure of capital销售采用赊销方式；Account sales未考虑季节变动性因素 Not considering the factor of seasoning第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital岗僳陌观赴摘梧茎帐烬牢举唱拷泣扮勾艺槐蜕蝴擒冉盔嗣凝滴垮酣徘哮卜短期融资及设备融资风险管理短期融资及设备融资风险管理4、政策性风险、政策性风险 4. Policy risk经营范围Business scope经营资质Operat
43、ion qualification特许行业标准Concessionary industry standard风险规避措施Means of avoiding risks1、资质、证照审核Check the qualifications and licenses2、实地考察生产、营运设施On-site check the equipment for manufacturing and operating.第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital挡艺徐伍缩吞愉祖
44、趟炔陇辱循汲衫煽恿蒙琉呆擎环西延崇汤俭潍偏袜弥得短期融资及设备融资风险管理短期融资及设备融资风险管理5、担保风险、担保风险 Guarantee risk 保证人的担保风险同债务主体分析The analysis of guarantee risk is the same as the one of debtor risk 抵质押物风险： 风险规避措施Guaranty riskMeans of avoiding risks ？权属 Property right ？变现 The ability to convert to cash ？善意第三人bona fide third party 一、二还款来
45、源的相关性The relativity in the first and second repayment resources.权属证书审核Check the proof of property right相关部门抵质押登记手续Legal procedure of pledge in administration第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit risk of short-term capital蛊圃拐津戒清湍磅昏呆删阿悄依词竣洒桌炯家鲤百护境搭挎路往吭逐刷汪短期融资及设备融资风险管理短期融资及设备融
46、资风险管理“5C”风险源5C risk sources自负Complacency疏忽Carelessness沟通Communication意外事件Contingencies竞争Competition规避措施Means of avoiding risks信贷文化Credit culture执行力Executive power教育与培训Training and education考核及奖惩Performance review, reward and punishment第二部分第二部分 短期资金授信风险分析短期资金授信风险分析Part II The analysis on the credit r
47、isk of short-term capital阶搭哭拧伦藐计驮斑辜厕拍伐猪教雅超汇栽兴幻霍旺绳腥眩纤羞辨煽体塔短期融资及设备融资风险管理短期融资及设备融资风险管理第三部分第三部分 短期资金授信风险控制短期资金授信风险控制 Part III The control on the credit risk of short-term capital风险敞口控制风险敞口控制Control of risk exposure 对单一客户、行业、地域设定最高额限制。Set top limitation to single customer, industry and region.风险敞口根据客户、行业
48、、地域的风险度水平及银行股权资本对风险的保障程度而定。 Risk exposure depends on the risks of customers, industries and regions as well as the stock equity of the banks.桐瞬矗赏谊扳哭煞历蚌伸容稼什晕驼嘶缔核与下丁莲荒雌早惕均氓倚臼颇短期融资及设备融资风险管理短期融资及设备融资风险管理贷款风险评级贷款风险评级Ranking of the loan risk 分析客户及贷款的特征Analyze the features of the customers and the loans评估违
49、约的可能性及预期损失。Evaluate the the possibilities of breach and estimated loss定性与定量分析 Qualitative and quantitative analysis第三部分第三部分 短期资金授信风险控制短期资金授信风险控制 Part III The control on the credit risk of short-term capital彼癌狞做炒春少烦冀惭掐养源洞敲亮想筑闯噎砾恃嫂剪亦乏茎悉权督虚裤短期融资及设备融资风险管理短期融资及设备融资风险管理授信限制性条款授信限制性条款 Credit restrictive te
50、rms消极性限制条款Negative restrictive terms 积极性限制条款 Positive restrictive terms1.年资本支出规模限制 Restriction in annual capital investment2.股利分配限制 Restriction in dividend distribution3.不得在现有的抵押之外再行对外设定抵押 No re-pledge on current pledge4.未经银行同意不得进行收购、合并行为 No merge and acquisition unless agreed by the banks5.出售、租赁、转移
51、现有资产的比例不得超过资产总额的一定比例 The proportion to sell, lease and transfer assets cant exceed certain percentage of total assets6.高级管理层不得进行人事变动 No personnel change in senior management7.未经银行同意不得增加负债 No increase in liabilities unless agreed by the banks1.财务指标保持在合理的范围内keep financial ration in a reasonable range2
52、.财政年度结束的某一段时间之内必须提供审计的财务报表 Must provide audited financial report within a certain period at the end of fiscal year.3.对实际控制人及主要经营者投保，受益人为银行 Insure for the management, the beneficiary is the bank.4.允许银行定期现场检查存货、应收帐款和其他主要资产 Allow the banks to periodically on-site check in inventory, accounts receivable
53、 and other main assets5.债务主体必须按时支付税款和其他政府规定的费用Debtor should pay taxes and other expenses in time 6.债务主体必须将影响业绩的诉讼告知银行Debtor must inform the bank of lawsuit which will influence the performance7.债务主体必须保持资产的完好和修缮 Debtor must keep assets in good condition第三部分第三部分 短期资金授信风险控制短期资金授信风险控制 Part III The contr
54、ol on the credit risk of short-term capital祥嘛沙抄六窜娇活曰觉纺卒左郡罢驾汽万忍恨钎壬瞻袒狭恳牢钠箱雁笑大短期融资及设备融资风险管理短期融资及设备融资风险管理第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China最近十年固定资产投资规模Fixed assets investment in recent 10 years单位:亿元In RMB, Hundred millionEquipment investmentFixed assets i
55、nvestmentIncrease in fixed assets investment测娄拟阀囤掇旬缩芽囊宙皖兵拧纪服骋澄坡虏物房管您盟毅郎嚼州白恫外短期融资及设备融资风险管理短期融资及设备融资风险管理设备融资的方式设备融资的方式Methods of equipment finance租赁 Leasing分期付款 Pay by installment 银行（抵押）贷款 Mortgage 出口买方信贷 Export buyers creditYour Logo第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Fin
56、ancing in China蜡平背轿铱潍迫乔镭膨任戚疯镊襟必诚冤泊院茨要硕嫌操吨鼠躇区椿饲迭短期融资及设备融资风险管理短期融资及设备融资风险管理设备融资所能覆盖的设备种类设备融资所能覆盖的设备种类Equipment category under equipment finance飞机 Aircraft船舶 Ship营运车辆 Business vehicles工程机械 Engineering machinery医疗设备 Medical equipment成套大型设备 large complete - set equipment Your Logo第四部分第四部分 中国设备融资现状中国设备融资现
57、状Part IV The Current Status of Equipment Financing in China话唉南匠烁投韧助铸益烫沾利铆驰蠕贵醒稿闭狐忧雕棘职尖牌侯鬼收壮处短期融资及设备融资风险管理短期融资及设备融资风险管理第四部分第四部分 中国设备融资现状中国设备融资现状 Part IV The Current Status of Equipment Financing in China设备制造商Equipment Manufacturer租赁公司Leasing Company商业银行Commercial Bank提供设备融资的主体Equipment Finance Princip
58、al Parts订哄澎鞭锣携珐匆芽闺逊孽砍外昏痕胸蝇酶春绎事骏嗜燕蔼内丽橇嚼擦锯短期融资及设备融资风险管理短期融资及设备融资风险管理设备制造商设备制造商 Equipment manufacturer 问题：Questions占用自身经营性现金流量Use its own operating cash flow信用风险难以控制Difficult to control the credit risk首付比例高、期限短不利于用户资金安排High down payment, short term which is not convenient for client to arrange the capi
59、tal改善途径: Means of improvement成立融资租赁公司Set up financial leasing company与银行合作开展银行按揭Cooperate with the banks for mortgage loan第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China剩足仕畏纸缅且苍赡拂荐佛赛慌惩匹翌维幼卵括头杂广酮咱辈捂循滇睹段短期融资及设备融资风险管理短期融资及设备融资风险管理租赁公司租赁公司 Leasing company中国租赁行业现状 Curr
60、ent status of leasing industry in China业务规模小Small business scale信用环境有待改善Credit environment needs improving缺乏法律和税收等政策支持short of policy support such as law and tax, etc.第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China褪诣晰失赃亩儿炸妥牲迄班并烘灵渐愿猛饰针琉棠艘砌伐重滩针敛髓锁犬短期融资及设备融资风险管理短期融资及
61、设备融资风险管理商业银行商业银行Commercial bank 对设备买方、卖方及租赁公司进行融资Finance among equipment seller, buyer and leasing company.第四部分第四部分 中国设备融资现状中国设备融资现状Part IV The Current Status of Equipment Financing in China妓槛撂婪神陪管籽谅徘需藉笺蔽媳葱拐捕皋骆射镇傻齐樊伎康皆地孺厉撂短期融资及设备融资风险管理短期融资及设备融资风险管理第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment financ
62、e of commercial bank 信贷 Credit loan成立金融租赁公司Set up financial leasing company财务顾问服务Financial consultant service代理信托产品发行Agent to issue trust fund亭冕畦诫屿惟刑唱陡晦谊储感篡卞戒幌蒂万干幸磷练瓦男前呻塞蕴搂输童短期融资及设备融资风险管理短期融资及设备融资风险管理第五部分第五部分 商业银行设备融资方式商业银行设备融资方式 Part V Equipment finance of commercial bank 信用证及进口押汇Letter of Credit/I
63、mport Bill Advance保函L/G银行承兑Bank acceptance贷款Loan向买方提供的信贷Credit loans provided for buyers啦阶羹弊耕闸钳牧啪掩桶创尔怒臻费满盏台格墒诱饲既腰需蔫指超栏脉伤短期融资及设备融资风险管理短期融资及设备融资风险管理飞机预付款贷款 Aircraft advance payment loan贷款金额飞机目录价格的25%The amount of the credit: 25% of listed price贷款期限2年，按合同约定的预付款支付进度Credit period: 2 years, subject to the
64、 contract还款来源飞机交付后，以飞机抵押进行融资Repayment resource: when the aircraft is submitted,the pledging of aircraft to get loan.贷款前提premises to get loan已签定购买协议，且已支付1%的订金Already signed the purchase agreement, and paid 1% as subscription银行、客户、制造商三方签定回购及转让飞机购买权协议Already signed the agreement of redemption and trans
65、fer right of the aircraft 第三方担保The third-party guarantee第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 忙锌酵净膀芽皆讫紊丛弹澄影撕蜡惟匣撑廊剑到甸蘸让游级瘸翱掷涟熄域短期融资及设备融资风险管理短期融资及设备融资风险管理向卖方提供的信贷Credit provided to the seller固定资产项目贷款Fixed asset loan流动资金贷款和银行承兑汇票Current capital loan and bank acceptanc
66、e预付款保函Advance payment guarantee进口信用证Import L/C第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 宠脓卤坡川筐翱炮凭亏以觅婚扩庄恭篮瞬驮凿怔匆习驾项韧帖坝基相瓮绝短期融资及设备融资风险管理短期融资及设备融资风险管理船舶融资重要节点船舶融资重要节点船舶融资重要节点船舶融资重要节点 Important sections of ship financeImportant sections of ship finance开工开工Start production下水
67、下水Ship launch交船交船deliver and submit the ship合同生效合同生效Contract valadity船舶融资品种船舶融资品种船舶融资品种船舶融资品种 Ship finance Ship finance开立预付款保函开立预付款保函Open an advance payment guarantee流动资金贷款流动资金贷款Current capital loan远期结售汇远期结售汇 forward settlement and surrender exchange开立信用证开立信用证Open a credit上船台上船台Construction of slipw
68、ay船东付款进度Payment schedule of the Owner20%20%20%20%20%船厂银行开立预付款保函Open advance guarantee by ship manufacturer and bank80%第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 逃级豪眶悟跟丝卯爸狮秉幻雄瞄诚最仅绞萧踌伎附浊寇美皿辣靛国淋奄虾短期融资及设备融资风险管理短期融资及设备融资风险管理向租赁公司融资向租赁公司融资Financing from leasing company应租赁的受让
69、Leasing tranfer流动资金贷款Current capital loan按揭贷款Mortgage loan提供担保Provide guarantee第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 牙梨陕摇肋遵砾蝎麻话崎舅涵造畏炙遣颂椭吧召菠撰蠢掂庚洞咖蛀眯璃喊短期融资及设备融资风险管理短期融资及设备融资风险管理租租赁赁公公司司供应商供应商Supplier承承租租人人签订租赁协议Sign leasing contract选购设备交货及验收购买租赁物 向租赁公司融资向租赁公司融资 Finan
70、cing from leasing company商商业业银银行行支付租金Pay the rent按照单笔租赁协议发放贷款Issue loan according to the contract按照租金收取进度还款Repayment to banks according to the rent payment schedule第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank Commercial bankPurchase leased propertyLeasing companyLesseeCho
71、ose and buy the equipment,deliver, check and accept the goods 咕张核承钙咏辊甫琼网拟甘芥日组耘遂胡诉舜贫恬踞遂漏棘凯劣承惨延呐短期融资及设备融资风险管理短期融资及设备融资风险管理成立金融租赁公司成立金融租赁公司 Set up financial leasing company金融租赁公司管理办法(修订)相关规定:Measures for the Administration of Financial Leasing Companies (revised)商业银行可作为出资人Commercial bank could be the c
72、ontributor of a financial leasing company最低注册资本金1亿元人民币或等值外币The minimum registered capital of a finance leasing company is 100 million yuan or any freely convertible currency with equivalent value满足8的资本充足率；its capital adequacy ratio is not lower than 8%;可吸收股东一年期（含）以上定期存款，向商业银行转让应收租赁款；to absorb time d
73、eposits with the term of one year or longer from its shareholders; to transfer receivable payment for lease to commercial bankss要求建立关联交易的识别、审批及报告制度Required to establish the system to identify, approve and report associated tractions.第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial
74、 bank 恿顷驻经民香吸灸柜昏蔼卤馅凤率肘涅擂沿伤琢吭郎趾钎奎激宏由芭蜒圣短期融资及设备融资风险管理短期融资及设备融资风险管理银行银行 Bank金融租赁公司金融租赁公司Financial leasing company注册资本注册资本Register capital股东股东Shareholder建设银行China Construction Bank of China建信金融租赁公司Jianxin Financial Leasing Company45亿元RMB 4.5 Billion建设银行占75.1% CCB: 75.1% 美国银行占24.9% Bank of America: 24.9%
75、 工商银行Industrial and Commercial Bank of China工银金融租赁公司Gongyin Financial Leasing Company20亿元RMB 2 billion工商银行独资设立Wholly owned by ICBC交通银行Bank of Communications交银金融租赁公司Jiaoyin Financial Leasing Company20亿元RMB 2 billion交通银行独资设立Wholly owned by Bank of Communications民生银行China Minsheng Banking Corp. Ltd民生金融
76、租赁公司Minsheng Financial Leasing Company32亿元RMB 3.2 billion民生银行占81.25% CMBC: 81.25% 天津保税区投资公司占18.75%Tianjin FTZ (free trade zone) Investment Co., Ltd.: 18.75%招商银行China Merchants Bank招商金融租赁公司Merchants Financial Leasing Company20亿元RMB 2 billion招商银行独资设立Wholly owned by CMB五家商业银行成立金融租赁公司,多家银行筹备5 commercial
77、 banks set up financial leasing company. Several banks are in preparation.第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 莹奉其泡革陷眺瘟慎呵昌课溯锨枪韧死士寒恬溺挝痕阐蔬枉汗遵题吊窄阐短期融资及设备融资风险管理短期融资及设备融资风险管理银行银行Bank金融租赁公司金融租赁公司Financial Leasing Company注册资本注册资本Register Capital股东股东Shareholder国家开发银行China
78、 Development Bank国银金融租赁公司 Guoyin Financial Leasing Company74.85亿元 RMB 7.485 billion国开行占95%,海航集团、西安飞机工业(集团)公司等 占5%China Development Bank: 95%HNA Group, Xian Aircraft Industry (Group) Co., Ltd: 5% 中国银行Bank of Chia 新加坡飞机租赁有限责任公司 Singapore Aircraft Leasing Enterprise3.08亿元RMB 0.308 billion中国银行独资设立Wholly
79、 owned by BOC二家银行通过股权收购进入金融租赁行业Two banks enter financial leasing industry by equity buyout.第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 眯壬珊盔从炯琢草岔出撵罢句野缺浚汤狂补洞棠嘴萎棋燎拢沦余摩缠来晋短期融资及设备融资风险管理短期融资及设备融资风险管理财务顾问Financial consultant提供达到以下目的的融资方案Provided financing proposal to meet below
80、 purposes针对个性化融资需求focus on customized financing needs降低融资成本reduce the cost of financing控制融资风险control the financing risk改善财务结构Improve the financial structure第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 独戚状旗鼠腑携系董统搪片裸健范舷饱耸趋偷艳咀挎衣吼虾铆轨问坊抑热短期融资及设备融资风险管理短期融资及设备融资风险管理 融资租赁信托产品的发行I
81、ssue financial leasing trust fund商业银行与信托公司合作密切close cooperation between commercial banks and trust companies以信托资金为融资租赁提供资金可行Flexibility of providing financial leasing by trust fund第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 斥宠侣煞啃茎座豌瑶土烈蚌恤水退竞冰免诗遇赣狱喜需涛硫泄终瞬罩讼涅短期融资及设备融资风险管理短期
82、融资及设备融资风险管理租赁公司供应商承租人代理融资租赁信托产品的发行 Agent to issue financial leasing trust fund信托公司支付租金Pay the rent商业银行投资人理财产品销售款投资人发行理财产品出售租赁收益权Sell the income right of leasing获得资金消除负债Get capital, clear up liabilities出售租赁收益权Sell the income right of leasing为理财产品担保Provide guarantee设备回购承诺 Redemption Commitment of the
83、equipment第五部分第五部分 商业银行设备融资方式商业银行设备融资方式Part V Equipment finance of commercial bank 信托资金Trust fundCommercial bankTrust companyLeasing companyLesseeSupplierInvestorIssue financing productsSales of the financing products订挨模插愁钓丧第橱粮拔岭柱疤独逛冰锈烽横冷晓揣攒怖描补锗傻仓柏畦短期融资及设备融资风险管理短期融资及设备融资风险管理风险种类Categories of risks行业风
84、险行业风险行业风险行业风险Industry riskIndustry risk1履约风险履约风险履约风险履约风险Contract Contract compliance compliance riskrisk2财务风险财务风险财务风险财务风险Financial riskFinancial risk3汇率风险汇率风险汇率风险汇率风险Exchange rate Exchange rate riskrisk4业务风险业务风险业务风险业务风险Operation riskOperation risk6担保风险担保风险担保风险担保风险Guarantee riskGuarantee risk7市场风险市场风
85、险市场风险市场风险Market riskMarket risk5第六部分第六部分 设备融资风险控制设备融资风险控制Part VI Risk control of equipment finance唁卜桃应记继嘘茄雷藏已螟扫轿叔尼读床两钟盅拂御蘸刺酵起辰腑溶非镭短期融资及设备融资风险管理短期融资及设备融资风险管理风险控制 Risk Control依托原有的客户，做熟悉行业及设备；Depends on original customers; engage in familiar industries and equipments.大宗及通用设备Big and general equipments针
86、对业务的重要节点设定条件Set conditions aimed at important sections during the operation对现金流量的控制Control cash flows还款能力评估及制定适合的还款计划Evaluation of repayment ability and work out proper repayment schedule取得设备供应商的回购承诺Obtain the redemption commitments from equipment suppliers第六部分第六部分 设备融资风险控制设备融资风险控制Part VI Risk control of equipment finance侨鱼股辆舒鸦趟述澳李盐设爱颤蒜暑盯棱反儡员晨凛植虐跑锋垣汐泰舅塞短期融资及设备融资风险管理短期融资及设备融资风险管理谢谢各位Thank you虞惶是搏妊陕阶扁掸砍骏悼喉志塘驹促狈饰肉慷窑稿宗出毛贝革柠葛凌篮短期融资及设备融资风险管理短期融资及设备融资风险管理
