After the difficulty of financing small and medium-sized enterprises (SMEs) came to the fore, the Ministry of Commerce (MOFCOM), the State Administration of Taxation (SAT), and the State Administration for Industry and Commerce (SAIC) convened a forum of pilot enterprises for financial leasing in Tianjin on Nov. 19th. At present, the Ministry of Commerce and the State Administration of Taxation have approved 37 enterprises in 14 provinces and cities, including Beijing and Tianjin, to carry out pilot financial leasing business. Pilot enterprises have signed financial leasing contracts amounting to about 20 billion yuan, and the business involves aviation, electric power, public transportation, coal, medical and many other fields.
For financial leasing, Nanjing, an industry insider yesterday gave the reporter a graphic analogy: financial leasing is "borrowing the chicken to lay eggs, selling eggs to buy chickens.
If you have just started a small business, you need a piece of equipment, but the price of this equipment is high, and the existing funds on hand is not enough how to do? Well, financial leasing is a good solution to this problem. The leasing company according to your selected equipment manufacturers, signed a purchase contract with the manufacturer, and from the bank financing to the manufacturer to purchase the full amount, and then leased to you, when you pay the rent to reach the contract amount, the property rights of the equipment transferred to you. Compared with the traditional bank mortgage method, financial leasing, more than a leasing company, it is this extra intermediate link to the bank and the user has brought benefits. Banks are no longer facing a large number of dispersed users but relatively centralized leasing company, which is both for the user with less investment and rapid access to the right to use the equipment provides a convenient, but also for the bank and its funds to provide a safe lending channel.
Leases are mostly large machinery
"Leasing is not something new, the leasing company in the construction machinery industry has been as many as the leasing company, but most of these companies are operating in the leasing industry in the traditional leasing category of the physical leasing business, however, will be a combination of leasing and financial modern leasing industry on behalf of the -- financial leasing has been increasingly attracted to the leasing industry, the leasing company has been the first time in the world to see the leasing industry. -financial leasing has been attracting more and more attention." A source from XCMG told reporters.
According to him, XCMG's financial leasing started in the early 1980s, and after more than a decade of development, it
began to gradually enter the right track. As a leading enterprise in the domestic construction machinery industry, XCMG Group has achieved rapid development in recent years, while actively expanding new areas. In order to seize the opportunity of construction machinery leasing market and improve market competitiveness, XCMG invested 45 million yuan in August 2007 to set up a leasing company, and in June 2008, the capital increased to 17,000 million yuan. XCMG Leasing started the application for financial leasing qualification in July 2008; submitted the application report to the Ministry of Commerce of the People's Republic of China (MOFCOM) in August 2008, and accepted the due diligence of MOFCOM and the State Administration of Taxation (SAT); in October 2008, MOFCOM and SAT approved the application and issued the documents. According to the development plan of XCMG Group, the scale of financial leasing of XCMG Leasing Company will reach 350 million yuan in 2008, 1.5 billion yuan is planned in 2009, and 5 billion yuan in 2012.
This confidence is due to the fact that the idea of buying equipment rather than renting is gradually taking root in people's minds. He told reporters about such a thing: after the earthquake in Sichuan, CCCC Bridge Technology Co., Ltd. to buy eighteen-meter bridge inspection vehicle, according to the Sichuan Provincial Government requirements, within two months for the detection of all bridges in the disaster area in Sichuan, time is tight, the task is heavy. Eighteen-meter bridge inspection truck is a high-end product produced by the crane company dedicated to bridge inspection, the product unit value is high. The customer purchased the equipment due to time constraints, the funds have not been raised in place, the intention to apply for a bank mortgage loan to purchase, but the loan is currently only for individual customers, and not for businesses, how do? When the customer is worried, XCMG Leasing Finance and Leasing Department introduces a new type of sales model to the customer - Rent to Sell. That is, after the strict qualification assessment of the customer, the customer pays a certain percentage of the total amount of equipment as down payment first, which can realize the use of the equipment and pay back the rent month by month for a certain period of time in the future, after the expiration of the period, the ownership of the equipment is transferred. In the full qualification assessment of the customer quality assessment to determine the level of standard feasible, the company and the user to sign a contract for the sale of rental, equipment insurance, contract notarization, etc., many of the formalities within a day to do, the next day, wearing a red silk bridge inspection truck to the disaster area.
According to the China Equipment Leasing Committee Chairman Qin Yejun, the current procurement of construction machinery and equipment, 40% to 50% is used for leasing, the proportion of individual equipment can reach 70%. If calculated in accordance with the annual purchase of 80 billion yuan, used to lease the equipment at least 32 billion yuan, 12 billion yuan more than the total assets of 20 billion yuan of financial leasing industry-wide. In fact, the profitability of equipment leasing is very high, some equipment half a year to recover the investment, the longest is one and a half years, while the general economic service life of the equipment at least five years, the life of engineering machinery and equipment is even longer.
Can solve the urgent needs of enterprises
In an interview with the reporter also learned that in 2007, Jiangsu Financial Leasing Co., Ltd. spent hundreds of millions of yuan, "buy" HNA Group's China Xinhua Airlines Limited Liability Company, a Boeing 737 series of airplanes. With the general "buy and sell relationship" is different, this aircraft in the next few years the right to use still belongs to Xinhua Airlines. If Xinhua Airlines can return the money and interest to Jiangsu Financial Leasing Co., Ltd. during this period, then the property right of the airplane will also be returned to Xinhua Airlines. This is actually a financial lease.
The specific contractor of this project, Jiangsu Financial Leasing Co., Ltd. business manager of the second department, in the enterprise financing methods, the main channel is through bank loans, with "financial leasing" is relatively small. In fact, for those who finance is used to purchase large-scale equipment, enterprises and institutions, "financial leasing" more "cost-effective.
Large corporations and small and medium-sized enterprises are the same. If a factory has a business order in hand, but not enough money to increase equipment, the factory can let the financial leasing company to fund the purchase of equipment, the factory will pay rent to the financial leasing company
Division of rental equipment, installment payments. Prior to this, the two sides agreed on the payment period and payment method, but also can negotiate the full year after the transfer of the property rights of the equipment. Through this form of financing, the factory will not be unable to use the equipment due to financial pressures and stop production, at the same time, do not have to bear the high cost of equipment purchases in the short term, to a large extent, to reduce the financing burden of small and medium-sized enterprises. For production enterprises, the cost of purchasing a piece of equipment is very high, and the use of equipment in the form of financial leasing, the leasing costs can also be tax deductible as expenses." The Nanjing-based industry insider spelled out the key to financial leasing.
He also gave the reporter an example: in 2004, Beijing Xin'ao Concrete Co., Ltd. and Beijing Xinhang Building Materials Co., Ltd. participated in the Olympic Games, the subway, the third phase of the construction of the Beijing Capital Airport and other major construction projects, the urgent need to add the value of 60 million dollars of construction and transportation equipment. So much money from where, the traditional methods have been used all over, still no effect, when there is no other way out, found the Beijing International Trust and Investment Company Limited, the two sides reached such an agreement: Beijing International Trust Company funded from the Beijing Zhonglian Construction Machinery Leasing Company "to buy" 7 sets of concrete pumps, 60 sets of concrete The company has purchased 7 concrete pumps and 60 concrete mixer trucks from Beijing Zhonglian Construction Machinery Leasing Company and leased them to Beijing Xinao and Beijing Xinhang for use. 60 million yuan of financing projects have been satisfactorily resolved.
Taste the sweetness of financial leasing of a private enterprise responsible person said, "in the financing difficulties, small and medium-sized enterprises through financial leasing, only a small amount of money can obtain the required advanced technical equipment, and then production, while the rent, greatly alleviating most of the small and medium-sized enterprises faced with technological reform of financial constraints, and promote the small and medium-sized enterprise equipment upgrading."
How enterprises do financial leasing
Nanjing University of Finance and Economics, Jiangsu Industrial Development Research Institute, the head of the Financial Leasing Research Center that financial leasing for the enterprise is a capital operation of the idea. Enterprises to be stronger and bigger, rapid development, we must use the power of the capital market, to integrate a variety of effective resources, pure empty gloves white wolf myth does not exist, but we often say, "Borrowing a boat to the sea, borrowing the chicken to lay eggs," is a real existence, through cooperation with financial leasing companies, leasing their equipment to solve the development process The company's business is to expand the production capacity of the urgent need to expand.
How do companies utilize financial leasing? It is understood that no matter what the lease, in essence, is the use of other people's assets in an agreed period of time, in the form of payment of rent. The leased object must be purchased by the leasing company before it can be leased. The option of purchasing objects for financial leasing lies with the lessee company.
It is important to understand what the leasing company requires of a potential lessee so that the enterprise knows whether it has the conditions to use the leased object. First of all, to let the leasing company to understand the basic situation of the enterprise, the legal qualification of the main body, business conditions; secondly, the profitability of the project and the guarantee of the recovery of funds; thirdly, the lessee's strength of the guarantee of the use of leased objects. For example, the characteristics of the construction machinery financial leasing: most of the lessees are self-employed, they need to have enough family assets as unlimited joint and several liability guarantee to ensure that the rent is repaid; Fourth, there should be about 30% of the leasing deposit, leasing companies will not be a penny for the enterprise to do financial leasing.
The first step in the operation of the project is project evaluation. Mainly based on the communication of the potential lessee enterprise credit, guarantee ability, operating ability and repayment ability to assess. Project evaluation is based on the real investigation of the project. All the state of affairs must be proved by reliable, authoritative and impartial credentials, and general estimation and verbal promises cannot be used as the basis for assessment. The second step is to sign a sale and purchase contract. The third step is to sign a lease contract. What needs to be ascertained at this stage is whether the preliminary expenses required for the project are sufficient and whether the necessary formalities are complete. Before the funds are in place, all contracts are open-ended contracts (conditional on the entry into force). In particular, some equipment is imported from abroad, but also enjoy tax exemptions, in the absence of import licensing procedures, all contracts can not be formally effective. This is both business operation and risk control. Lease contracts need to be notarized before the entry into force of the debt instruments. This procedure is an important part of risk control. Once the lessee defaults on the rent can not be returned, the leasing company can not go through the litigation process directly into the court enforcement procedures.