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论文编号：	8898
作者编号：	2120142931
上传时间：	2016/12/9 21:07:44
中文题目：	基于合同能源管理项目的租赁模式选择研究——以A金融租赁公司为例
英文题目：	Research on the Option of Leasing Patterns in the Energy Performance Contracting Project——Taking A Leasing Company As an Example
指导老师：	刘志远
中文关键字：	合同能源管理;融资租赁;财务分析;风险识别;税收影响
英文关键字：	Energy Performance Contracting;Financial leasing;Financial analysis;Risk identification;Influence of tax
中文摘要：	当前，在我国经济转型和产业结构调整的大背景下，在传统金融工具变革的同时，金融租赁业务的发展方式也在转型升级。根据“十三五”规划，国家将大力推动建立绿色低碳循环发展产业体系，鼓励企业工艺技术装备更新改造。而节能产业作为近十年来起步发展的行业，是值得金融租赁行业立足于当前宏观经济改革背景，深挖开拓的朝阳业务领域。金融租赁行业可以依托节能产业进行转型升级，优化盈利模式，扬长避短，走差异化的发展之路。然而目前相关政策和产业发展不完善，部分金融租赁公司虽已尝试开展合同能源管理相关租赁业务，但形成可在业内推广的、可持续盈利的成熟商业模式仍需时日。 如果引入融资租赁公司作为节能服务公司的前端融资渠道，从融资租赁公司角度来看，合同能源管理项目中选择哪种租赁业务模式能带来最大效益，实现可持续盈利的财务目标，进而实现“多赢”局面，根据对金融租赁公司的实地采访，目前还缺乏可推广的经验。租赁公司应当依据包括财务指标、风险、税收政策在内的哪些因素来选择租赁业务模式，是实现上述目标时，首先需要研讨的问题。为实现上述研究目标，本文首先综述了租赁的概念内涵及交易模式、主要风险、合同能源管理理论等内容，然后通过具体的案例分析，重点研究了A金融租赁公司在为D节能公司设计项目融资方案时，选择租赁模式的全过程。着重分析单一项目中，A金融租赁公司是通过哪些相关指标来考察项目收益及相关风险。本文运用财务指标分析、税务因素分析和风险因素分析来综合考察和评价，以此为融资租赁公司在EMC项目中寻求最优租赁业务模式、创新商业模式发展提供相关建议。本文试图通过对A融资租赁公司与D节能服务公司开展合同能源管理融资租赁业务的案例分析，建立研究范本，为A融资租赁公司及业内其他公司在节能领域创新租赁业务模式提供借鉴。 关键词：合同能源管理；融资租赁；财务分析；风险识别；税收影响
英文摘要：	Nowadays, with the rapid development of our country’s economy, the industry structure in China has also got a tremendous progress. Meantime, the pattern of financial lease has been changing and upgrading. According to the 13th Five Year Plan of our country, the government has been projecting to establish the industry system of the green economy, the low-carbon economy and the circulation economy. By this means, the government encourages the enterprises to renew and to innovate their technology and technical equipment. The energy-saving industry started to develop in recent ten years, and its potential value should attach more importance. The financial leasing enterprises can base upon the reform situation of economy, take advantage of the energy-saving industry and green economy. The enterprises of financial leasing should utilize the transformation and upgrading of the energy-saving industry, finding new profit models. Throughout this way, they can adopt the leasing industry’s good points and avoid fierce competition among each others. However, because of the imperfection of the policy and regulation in the energy-saving industry, it still takes time to form a popularized and sustainable profit pattern for the financial leasing enterprises. If the energy-saving service company chooses leasing enterprise for financing, how can a leasing enterprise make a decision of leasing pattern to make profit? Especially in the Energy Performance Contracting (EMC), which leasing pattern can make best benefits to the leasing enterprise, it still lacks of experience for them. Besides, which factors should be taken into consideration when designing the specific EMC leasing project? Basically, the financial index, risk and tax elements should be analyses. In order to achieve these aims, firstly, this paper summarizes the conceptions of leasing and its transaction patterns. Then it discusses the main risk in the EMC leasing, and the related conceptions of Energy Performance Contracting. Afterwards, the paper analyses the specific EMC case of A financial leasing Company, including the whole process of choosing leasing pattern. And the main points concentrate the indicators of profits and related risks of leasing company. The paper utilizes the analysis of financial index, the analysis of tax as well as the research of potential risks, accounting to make some suggestions to the leasing enterprises of choosing leasing patterns in the energy-saving industry. This paper aims to analyze the specific case of EMC project in the A financial leasing Company, which can help to establish a model for the businesses of the same trade in the EMC project field. Key Words：Energy Performance Contracting；Financial leasing；Financial analysis；Risk identification；Influence of tax
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