A Research On Risk Control Of New Energy Corporate Financing

Economy, environment, climate and other problems caused by consuming fossil energy has become constraintsrestricting the global economic development.The main way to solve the problem is to get rid of excessive dependence on fossil energy, then turn to develop low-carbon, environmentally friendly and renewable energy. From the world of practice, the vast majority of countries have developed policies and measures to promote the development of new energy industry. China which is the world’s second-largest economy,is at a crucial stage of the development of industrialization, urbanization and modernization, and needs the full support of the energy industry. However, the increasing depletion of fossil energy greatly restricts the further development of China’s economy. In this context, greatly developing new energy industries and gradually getting rid of the shackles of fossil energy have become the inevitable choice for China in the future.The development of new energy industry takes the micro-enterprises as its carrier, so new energy business conditions directly detemiine the status of the development of new energy industry. However, because of current Chinese fossil energy taking dominance and the inadequate government support, new energy enterprises have broad prospects, but the living space is still small and will experience very tortuous path of development, which leads to financing difficulties. There are four reasons: first, new energy enterprises have a lower market share; second, new energy technology is immaturity; third, most of the new energy enterprises are still in the early stages of development; fourth, the financial indicators of the new energy enterprises improve slowly. Based on this, promoting the development of new energy industry, the key is to get rid of the financing obstacles. On the one hand,we should rely on traditional channels to break the financing bottleneck, such as shareholders’ investment, industry fund to support public financing, bond financing; the other hand, we can use innovative financing to increase financing efforts, such as full use of venture capital, private equity, finance lease.New energy enterprises financing, in particular the financing of innovation, is bound to face a variety of financing and financial risk. From China’s new energy enterprise development status, financing and financial risks faced by the new energy enterprises mainly concludeconservative estimate of financing costs, low solvency, liquidity, bad investment decisions, operational instability. It should be said, the risks of this new energy enterprises, both are the specific performance of immature enterprise development, and are the inevitable result of the decision makers mismanagement. Researching new energy enterprise financing and financial risk, aims to establish a comprehensive risk control system for corporate health operators escort, and the fundamental way is to build a financial risk evaluation index system so as to timely warn financial risks.Of course, to play the role of the financial risk index system of early warning, a series of risk control system is needed.This paper, consisting of ten chapters, can be divided into three levels, and arranged by the logic of "background-analyzing and solving problems-coming out of the new issues and analyzing andsolving the new problem".Chapter2and chapter3are the "background" section.Chapter2introduces the policies of supporting new energy development at home and abroad, and comparative analyzes these policies, and views that the government plays a leading role in the early stages of development in the new energy industry; but in the long term,the development of new energy policy still has limitations, so both government support and the market effects are essential and more emphasis on the latter. Chapter3describes the various types of new energy technology application.Overall,this part shows the macroeconomic policy background and technical development status of the development of new energy enterprises, which laid the background for the analysis of the new energy corporate finance and financial risk issues.Chapter4to chapter6is the "analyzing and solving problems"section. In this part, the new energy enterprises financing difficulties and the solution are discussed.Chapter4analyzes new energy enterprises financing obstacles and difficulties, pointing out that low market share, immature the technology, the majority being in the start-up stage and the slow improvement are the main reason of financing difficulties. Chapter4provides the basis for follow-up analysis of the problem and solving the problem. Chapters5and chapter6explore the new energy enterprises financing ways from the two levels of general way and innovative way, and analyze the characteristics and conditions of use of each financing way. It can be said, chapter5and chapter6are the summary and extension of the financing of the new energy enterprises, which are important to broaden the financing channels for enterprises of the new energy.Chapter7to chapter10is the "coming out of the new issues and analyzing and solving the new problem" part. This part continues the financing option and innovation to come out of financing cost estimates and financial risk analysis, and put forward concrete measures to resolve the risk, including building financial risk index systemand establishing financial risk control.Chapter7is another issue derived by new energy corporate finance problem, which belongs to the level of analyzing problem, namely the new energy enterprises financing cost analysis and cost estimates. In accordance with the development of new energy companies, chapter7discusses the financing way combination and financing cost estimation at different developingstages. New energy enterprises financing, is bound to face a variety of risks, which derives the chapter8-new energy enterprises financing and operating risk analysis. Relying on chapter7, chapter8analyzes the financial and operating risk from debt risk, liquidity risk, management and operational risk and other perspectives. Chapter9and chapter10solve the new problems, namely introducing and designing the index system of early warningfinancial and operating risk, and then propose to further improve the financial risk tube of control strategies.