Study On The Financing Efficiency Of China’s Wind Power Company

Financing runs through every process of the whole enterprise operation, as the blood of a body life, it was also the primary factor to restrict a company’s development. Financing situation is closely related to company’s survival and development, while financing efficiency is the most key issue among the enterprise’s financing problems. This essay focuses on financing issue has become one restricted factor of the health and long-term development of a wind energy enterprise during the reality that low-carbon economy drives the wind energy greatly developed. This essay investigates the wind energy enterprise, and bases on the financing efficiency of a wind energy enterprise. It analyses China’s wind energy enterprise’s financing efficiency by combing internal and external related references and combines current wind energy financing situation, theoretically directed by theory of Trade and theory of windows of opportunity and comes to the following conclusion:first, China’s wind energy companies are exposed to the problem of financing structural imbalance that caused by the effectiveness of capital supply shortage. Second, the factors affecting the financing efficiency are include the scale of the company and the structure of asset, the financing cost and financing risk, the financing structure, the profitability and development capacity, and the volatility of corporate value.Third, China’s wind energy enterprise financing efficiency is of low level and takes on downward tendency in general, and most wind energy enterprises are obviously non-efficiency ones. Four, the Main business revenue growth year on year and the Total Assets Turnover of financing efficient wind power companies are both obviously higher than that of financing inefficient wind power companies, and the Asset-liability ratio of former is obviously lower than that of the latter. Last, there are majority wind energy enterprises with increasing enterprise scales and profits but relatively low DEA efficiency. Then, this essay provides recommendations for China’s wind energy enterprises on financing efficiency from internal and external consideration as follows:firstly, broaden the financing sources in China. Secondly, promote the policies and systems related to wind energy enterprise development. Thirdly, standardize the financing system of wind energy enterprise. Finally, promote and enhance the organization performance of wind energy enterprise. Through the above investigations and analysis, this essay expects to provide China wind energy enterprise development with useful information and help.