What a professional question, but it is available on Spider.

1. International support funds

International support funds are an energy-saving financing market system that combines funds from some international institutions and matching funds from domestic banks. It mainly includes: the Chinese government and the World Bank The "China Energy Conservation Financing Project" developed in cooperation with the Global Environment Facility carries out energy efficiency project loans through on-lending bank matching funds; the International Finance Corporation provides risk sharing for the "China Energy Conservation and Emission Reduction Financing Project" for energy conservation and emission reduction financing loans issued by cooperative commercial banks. "; "Green Intermediate Credit" provided by the French Development Agency at below market interest rates, etc. Projects supported by international funds have higher access thresholds for credit conditions, financial conditions, and project conditions for lending companies, and there are not many contract energy management projects that actually obtain financing from the above channels.

2. Commercial bank credit

Currently, bank credit is still the main financing channel for energy-saving service companies. Credit business is an important asset business of commercial banks. Principal and interest are recovered through lending, and profits are obtained after deducting costs. Therefore, credit is the main means of profit for commercial banks.

In order to support energy conservation and emission reduction, domestic commercial banks Hua Xia Bank, China Merchants Bank, and Shanghai Pudong Development Bank have entered the field of energy conservation through on-lending projects; Bank of Beijing participated in the World Bank’s second-phase energy conservation financing guarantee mechanism; Industrial Bank joined the international financial The company's risk sharing mechanism project; China Minsheng Bank participated in the World Bank's energy-saving on-loan project, etc. In the financing model for contract energy management projects, financial institutions have made useful explorations and innovations in financing models, mainly including: combining the characteristics of the energy-saving service industry, innovatively using the pledge of future income rights of the project, and actively providing credit to energy-saving service companies Guarantee, the loan credit guarantee period can be extended to three years. Commercial financing guarantee institutions are encouraged to actively participate in the financing guarantee work of energy-saving service institutions. Measures such as establishing a cooperation mechanism between contract energy management agencies and financial institutions.

The pledge of future income rights means that the bank will issue the future income of the project to the enterprise in advance in the form of a discount loan according to a certain discount ratio. The loan period depends on the collection period of the project. The future income of the project is used as the source of loan repayment.

3. Financial leasing

Globally, financial leasing has become the only financing channel second to bank credit. In developed countries, 80% of energy-saving and emission reduction projects use financial leasing. way to achieve it. With the further development of contract energy management mechanisms in my country, a large number of financial leasing professional companies, both domestic and foreign, are optimistic about the energy-saving service industry. Currently, more and more customers are financing energy-saving equipment/assets (lease network) through financial leasing.

Bank credit requires enterprises to provide mortgages to banks, and a lower discount rate is applied to the collateral. Compared with bank credit, financial leasing has the advantage of complete financing, and the lessee can generally achieve a higher proportion of financing. For companies with large financing needs, credit status is very important because loans are generally reflected as liabilities of the company, which will affect the company's refinancing ability. Financial leases can achieve off-balance sheet financing based on structural design and arrangements.

The methods that financial leasing can take in practice are:

Direct leasing: the lessor uses the funds raised and borrowed in the capital market to pay loans to manufacturers and purchase equipment. and then rented directly to users (lessees).

Leaseback: Also known as after-sales leasing, it refers to the practice in which equipment owners sell part of their property (such as equipment, houses, etc.) to a leasing company and then lease it back from the leasing company. This is a very beneficial approach for the company to obtain the required funds and improve its financial situation while retaining the right to use assets when the company is short of funds.

Leveraged lease: Leveraged lease, also known as balanced lease, involves relatively large capital projects. It refers to a financing tax-saving lease composed of "financial leverage". The lessor Generally, you only need to pay 20-40% of the total amount of the equipment, and you can economically (and only financially) own the equipment and enjoy the same tax treatment as if you invested 100% in the equipment.

Most of the funds in the equipment cost are mortgaged by the leased equipment and financed by loans from financial institutions such as banks, insurance companies, and securities companies. The lender has no recourse against the lessor when providing credit, and the guarantee for the repayment of the funds lies in the equipment itself. and lease fees. At the same time, the lessor needs the first mortgage of the equipment, the lease contract and the transfer right to collect rent as security for the loan.

Entrusted leasing: a financial leasing business in which a financial leasing company, as a lessor, accepts funds from the client and handles them in accordance with the lessee and conditions (purpose, amount, term, interest rate) designated by the client.

For example, energy-saving service companies such as Zhongke Yujie Energy-saving Equipment Co., Ltd. can develop funding sources through the financial leasing model. When the time is right, powerful energy-saving service companies can also set up financial leasing companies to realize internal Integration to achieve an integrated model of cooperation between energy-saving customers, energy-saving service companies, financial leasing companies, energy-saving equipment manufacturers and other parties.

4. Equity Financing

For energy-saving service companies in the growth stage, the threshold for bank credit is relatively high, and equity financing can be regarded as an effective financing channel. Equity pledge, also known as equity pledge, refers to a pledge established by the pledger using the equity he owns as the subject matter of the pledge. According to the current legal systems on guarantees in most countries in the world, pledges can be divided into chattel pledges and rights pledges based on the subject matter. Equity pledge is a type of rights pledge. The establishment of an equity pledge enables the creditor to obtain security rights for the pledged equity, which is an equity pledge.

5. Contract Energy Management Project Transactions

At a stage when financing channels and models are not yet complete and mature, all parties are actively working hard to explore and practice. In addition to the above several contract energy management financing channels and models, in practice, energy conservation service companies transfer future service income to obtain working capital to carry out new contract energy management project contract energy management project transaction methods. In the form of holding or equity participation, through integration and cooperation, financing methods such as sharing market resources, solving capital needs and technology are used.

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