Financial Effect Analysis Of JD Bai Tiao Asset Securitization

With the upgrading of residents' consumption and the rapid development of the consumer finance industry,Internet finance has gradually slowed down from the initial barbaric development to the gradual slowing down after the frequent introduction of various regulatory policies in recent years.Therefore,it has to develop new ways to seek the growth of profits.The emergence of asset-backed securities in Internet consumer finance has brought more cash flow to Internet finance companies.The legal essence of asset securitization is to transfer creditor's rights or usufruct to investors in the capital market in a structured way.Compared with traditional financing tools,it can lower the financing threshold of enterprises,break through the 40% net asset limit,reduce financing costs,and bring about the improvement of enterprises' financial structure and financial risk status.In the current regulatory gap,the issuance of assetbacked securities has become an important choice for many institutions or enterprises to finance,and the issuance tends to explode.As issuance increased,yields on assetbacked securities fell and liquidity increased,gradually approaching that of corporate bonds.This paper analyzes the financial effect in the process of asset securitization by taking the first domestic asset-backed securitization project based on Internet consumer finance--JD Bai Tiao receivables creditor's rights asset-backed special plan.The full text mainly through to the accounts receivable asset securitization and financial effect of theoretical analysis,the issuance of asset-backed securities on the role of the Internet consumer finance companies,according to the main financial indicators analysis and Z value model to measure the company's operating ability and the status of the financial risk,through the study of the financial analysis of the project implementation result,describe the implementation of the project for JD Century Trading Company profitability,solvency and liquidity.The research conclusions are as follows: 1.The implementation of JD's receivables securitization project has broadened the company's financing channels and reduced the company's financing costs.2.According to the financial effect indicators after the implementation of the project,the implementation of the project has improved the company's profitability,debt paying ability and operating ability,and improved the company's financial situation.3.Through the analysis of Z-score model,it can be seen that the company's financial risk is effectively reduced,which provides a guarantee for the company's future development.The influence of China's Internet consumer finance industry on economic development is constantly increasing.In order to make the Internet consumer finance industry flourish,low-cost and cost-effective financing methods are particularly important for the growth of relevant enterprises.As a new financing method,the securitization of receivables has opened up a new financing way for Internet consumer finance enterprises.The design of asset-backed securities should be able to effectively prevent the moral and operational risks in the process of asset securitization and enhance the liquidity of asset-backed securities.In order to achieve these goals,it is necessary to strengthen the supervision responsibility of custodian Banks,and improve relevant laws to create a good operating environment for securitized financing.