Enterprise Asset Securitization Case Study

The key period in the current market economy,in this special economic environment,the enterprise needs to obtain funds through financing,to promote their own good long-term,sustainable development.In this context,the State Council made good use of incremental,invigorated the stock "policy guidance and gradually began to develop asset securitization as a new financing model.Hope that through this mode,realize the rational allocation and integration of financial resources in China,to better promote China’s economic development entities.Su ningyun as China’s famous home appliance chain sales of enterprises,in order to promote their business development,asset securitization in the national policy guidance,and various participants and institutions have jointly set up a "CITIC China asset backed Su Ningyun plan and CITIC China Suning cloud to enjoy the support of the special plan assets" of the two schemes The successful issuance represents the success of the practice of asset securitization in China,and also promotes the development of asset securitization in ChinaIn this paper,the subject in the study of asset securitization,were collated and summarized the first financing theories at home and abroad,access to the relevant literature of asset securitization,the development of asset securitization in China has combed,laid the theoretical foundation for the analysis of this case next.Then,this paper analyzes the the Su ningyun asset securitization financing model.Firstly,this article carries on the analysis of the reason and feasibility of the operation of the assets;secondly,a detailed analysis of the process of asset securitization financing,And the risk of asset securitization financing in the process are discussed,and put forward the corresponding risk control measures;next,this paper from the optimization of capital structure,the improvement of operating conditions,several aspects of financial risk control and financing channels such as the expansion of asset securitization on financial effect,finally the analysis of the asset securitization of non financial results and limitations,and puts forward related suggestions from two macro and micro level.In this paper,after in-depth analysis on the related theory of asset securitization,Su ningyun asset securitization financing case analysis,the conclusions are as follows:in order to adapt to the new system Environment,enterprises need to reform the business model,asset securitization financing will come into being;in the process of enterprise asset securitization financing,should combine their actual needs,rigorous design of asset securitization financing scheme,through investigation of Su ningyun related financial results,this paper found that enterprises with asset securitization financing can to improve their solvency and profitability in a certain extent,reduce the financial risk,and have a positive impact on the company’s stock.In addition,asset securitization can broaden the financing channels for enterprises to reduce financing costs,strengthening corporate control and financing to improve the degree of freedom,promote enterprise Internationalcompetitiveness.Put forward the corresponding countermeasures aiming at the limitation of Su ningyun use asset securitization financing process: first,suggestions to perfect the asset securitization related laws and regulations and policy suggestions;second,enterprise financing in the implementation of asset securitization,risk control of the whole process of financing;third,should increase the scope of information disclosure;fourth,reasonable planning for the use of funds,scientific arrangements,asset securitization will be persistent utility maximization.