Research On The Operation Performance Of PPP Concept Environmental Listed Companies

Since China actively promoted the PPP model in 2014,the number of environmental protection PPP projects has grown rapidly due to its public attributes and externalities.More than half of the environmental protection listed companies' main businesses involve PPP projects.Since 2018,under the general favorable situation of China's environmental protection industry,almost half of PPP concept environmental protection listed companies have suffered severe losses,and environmental protection stocks have generally suffered fall.Environmental protection PPP projects also seem to have entered the "cold winter".The performance of China's environmental protection enterprises in applying PPP operations,the problems in the operation process,and how related enterprises should resolve the crisis and reform and development are all issues that need to be urgently considered.Therefore,this article selects the leading PPP concept environmental protection listed company Origin Water as the research object,focusing on the environmental protection field.It analyzes and studies the operating situation,capital market performance and financial performance of Origin Water's PPP mode operation.Explore and summarize the company's existence of excessive investment business,insufficient cash inflows,scattered focus of operations,declining innovation research and development,over-reliance on debt,excessive debt repayment pressure,problems in the operation of PPP projects,and a large proportion of shareholders' pledged shares.At last,in response to related issues,this paper puts forward some countermeasures,such as choosing the best PPP project,adjusting the proportion of business structure,taking technical services as the core,increasing the investment in innovation and research,optimizing the financing structure channel,strengthening the operational cash recovery,improving the PPP project management,accelerating the entry into the operation period,improving the risk management and control system,and establishing the risk early warning mechanism.