The Case Analysis On The Green Sustainable Debt Issued By Jinfeng Technology In Xinjiang

Green perpetual debt is a new type of financing instrument,which belongs to the category of hybrid capital instruments.It is included in the equity instrument in accounting treatment.Green perpetual debt has the characteristics of green financing at the same time.It is dedicated to fundraising and improving the environment and responding to climate change.Debt financing instruments such as green projects.As a long-term financing tool,it not only can reduce the company's asset-liability ratio,it also does not involve the dilution of shareholders' interests,but also has a tax-deductible effect,so it has a variety of advantages.In China,the issuance of green perpetual bonds is still in its infancy.There is a large gap between the stock of funds issued by issuing companies and the size of funds.Records indicate that since 2013,there are many companies that issue perpetual debt,such as China Longyuan.Power,China Resources Power,Evergrande and Wuhan Metro have issued perpetual bonds of a certain amount of funds in succession,but there is basically no exploration for green perpetual bonds.In 2016,Xinjiang Goldwind Technology issued the first domestic green sustainability.Debt companies have strong practical significance.As a leading company in the wind power industry,Xinjiang Goldwind Technology ranks first in the domestic wind power industry for six consecutive years.Its R&D capabilities and business scale are in the leading position in the industry.In 2016,Goldwind Technology issued the nation's first single green perpetual bond.It pioneered the combination of green bonds and perpetual bonds.Both the financial action and financial effects are highly concerned by other domestic companies.Therefore,Xinjiang Goldwind Technology issued The case of green perpetual debt is highly representative both theoretically and practically.It has certain research significance and research value.This article introduced the basic concept of green perpetual debt and related financing theory,and through the preliminary analysis of the basic information and financial status of Goldwind as the issuer,further analyzed the motivation of Golden Wind Technology's issuance of green perpetual debt.As well as the financial effects achieved from the three aspects of cost,risk,and return,and through comparison with ordinary equity financing and ordinary debt financing,it is concluded that green perpetual debt financing is compared with ordinary equity and common debt financing,The financial effects resulting from costs,benefits,and risks all have certain advantages.However,from a macro perspective,the market mechanism and laws and regulations of green perpetual bonds are still unsound,and there are risks that are not revealed.Therefore,the relevant recommendations are proposed in this paper.For companies,when issuing green perpetual debt,they must fully consider their own conditions,issue size,and timing of issuance;in terms of markets,they should strengthen supervision,improve laws and regulations,and strengthen risk identification and control.