Research On Securitization Of Mining Rights Assets In Coal Enterprises

As an important energy industry in China,the coal industry plays an important role in the development of national economy.However,due to the impact of national supply-side reform and environmental constraints,the development of the coal industry has entered a slow period,and the assets and liabilities of coal enterprises above designated size.The rate is still at a relatively high level,and the profits of coal enterprises are declining.The entire coal industry is facing difficulties in financing and financial constraints.In order to solve the above difficulties,in addition to the traditional financing methods,asset securitization is also an important financing method,which is of great significance to improve the liquidity of corporate assets.Due to the limitations of financing methods,it is necessary for coal enterprises to explore the financing methods of securitization of mining rights assets,which can provide certain assistance to coal enterprises in solving financing difficulties to a certain extent.Based on the analysis of the theory of related asset securitization,this paper analyzes the characteristics of mining rights and can generate stable cash flow,and constructs the necessity and feasibility of the trial of mining rights asset securitization in the coal industry.The operation process of securitization of mining rights assets.At the same time,this paper analyzes the risks of securitization of mining rights assets from four aspects:mining risk,environmental risk,securitization operation risk and internal risk.The entropy method is used to make the risk of securitization of mining rights assets from Qualitative analysis turned to quantitative analysis.At the end of this paper,taking A coal mine as an example,the discounted cash flow method is used to evaluate the mining rights of A coal mine.As a basic asset,the mining rights securitization scheme is designed.The issued securities are divided into two priority categories:Class,at the same time calculate the final securitization issuance,calculate the principal and interest repayment.Then the entropy method is applied to the risk assessment of A coal mine securitization,and the actual research results of this paper are tested The research results show that the financing cost of the mining rights of A coal mine is lower than the bank loan interest rate in the same period,and the total risk of securitization of mining rights is medium.