Research On Consolidated Statements Of Zhonghang Shougang Green Energy REIT Based On Contract Agreement

On June 21,2021,the first batch of 9 public infrastructure REITs were listed on the Shanghai and Shenzhen Stock Exchanges.Issues such as the attribution,accounting treatment,and presentation of publicly offered REITs directly affect the quality of the relevant consolidated statements,but they are innovative financial products different from enterprises and limited partnership funds,and the accounting standards for enterprises lack pertinence for them,leading to relevant mergers and acquisitions.Reporting issues are controversial.Shougang Green Energy Public Offering REITs are the only biomass power generation infrastructure REITs among the first batch of 9 public offering REITs.They are public,equity,and related.Taking this as the research object will not only help design public offering REITs Consolidated reporting standards,and it is of great significance to ensure the realization of the "carbon neutrality" goal.The article first systematically sorts out the literature on public REITs,the theoretical selection of consolidated statements,ABS and fund consolidated statements,public infrastructure PPP projects REITs,as well as public infrastructure financing models,public REITs consolidated statements,and similar financial products.,and expounds the financing priority theory,substance over form theory,and enterprise merger theory;Secondly,it introduces the case of Shougang Green Energy public REITs,including stakeholders,existing transaction structure,public fund product information and underlying project assets,and analyzes the merger entity judgment of Shougang Green Energy public REITs,Shougang Biomass project business judgment,funds Shareholders reported these three issues.The reasons for the above disputes are that the principles of relevant standards are not clear,the coverage of relevant standards is not comprehensive,and the guidelines for the application of relevant standards are lacking in pertinence;Thirdly,in response to the above problems,the article conducts research on the design of Shougang Green Energy’s public offering REITs consolidated statement scheme,taking the overall design of the public offering REITs consolidated statement scheme as the framework,including the subject selection of public offering REITs consolidated statements,the scope of consolidation of reporting entities,and the accounting of project assets.Based on the four aspects of transaction processing and item presentation in consolidated statements,and then combined with the case analysis of Shougang Green Energy’s public offering REITs,it is believed that public offering REITs should be included in the scope of consolidation of the fund manager,and the original equity holders need to perform account processing and presentation,and the fund The manager needs to conduct consolidated treatment according to the business combination not under the same control,and report the minority shareholders’ equity separately;Finally,the article puts forward suggestions for designing the criteria for the "Consolidated Statement of Publicly Offered REITs",designs the control judgment criteria for publicly offered REITs,clarifies the accounting treatment specifications of publicly offered REITs,and sets up a special item for the presentation of publicly offered REITs.The article takes Shougang Green Energy public REITs as a research case,enriching the case of the consolidated statement of infrastructure public offering REITs,an equity public product;the design of the "Consolidated Statement of Public Offering REITs" standard fills the gap of accounting standards in public offering REITs products.Provide reference for the REITsization of public infrastructure projects such as PPP projects.