A Case Study On The Assets Securitization Of Jingdong Ious

In the operation mode of Internet financial diversification,the mode of Internet financial services launched by e-commerce enterprises.The breadth and depth of its participation and its impact on society and economy deserve great attention.Jingdong as is China's largest proprietary type electric business enterprise,on October 28,2015,successfully in shenzhen stock exchange issued the first single Internet financial asset securitization products,Jingdong ious support special plan accounts receivable creditor's rights assets.Under the background of today's Internet industry is more and more competitive,Jingdong introduced Jingdong ious business,purpose is through the credit shopping way to increase the sales of Jingdong mall to grab market share.But plenty of accounts receivable generated Jingdong ious led to enterprise liquidity decreases,at the same time facing the traditional financing channels of financing cost is high,the money is slow and price higher shortcomings of examination and approval,Jingdong group try to asset securitization financing,in order to enhance the liquidity of the enterprise.Therefore,as a case of asset securitization in the first Internet industry,it has the typicality of innovative financing and is highly operable,so it is necessary to study its financing mode.We hope to provide important theoretical value and reference for the financing of Chinese Internet enterprises.This article uses the literature research method,the comparative analysis method and the case analysis method,and uses the the asset securitization of Jingdong Ious as the research object.First of all,this paper fully and systematically elaborates the related literature and theory of receivable securitization.And sort out Jingdong's financing background and asset securitization process.Secondly,it analyzes the financial data related to the securitization of Jingdong's white bars and its accounts receivable,and finds that after the launch of Jingdong's white bars,the amount of accounts receivable increases,the liquidity assets increase,and the solvency and profitability of Alibaba and Amazon in the same industry.Comparing the capabilities,development capabilities and operating capabilities,it was concluded that the asset securitization of Jingdong Ious was conducive to the overall development of the company,and Jingdong Group's development trend in the same industry during the same period was positive.At the same time,using the weighted cost of capital model to measure the cost of the various products of Jingdong Baixun's asset securitization,it was found that Jingdong Ious Asset Securitization has the advantage of low financing cost.Then it analyzes the risk existing in the process of the securitization of Jingdong Ious,such as credit risk,policy risk and cost risk,and proposes corresponding risk prevention measures.Through the research,this article draws the following conclusions: First,the securitization of receivables assets to improve the proportion of corporate liquid assets,promote the overall liquidity of the company to improve and achieve asset restructuring.Second,the asset securitization of accounts receivable is a supplement and improvement to the traditional financing model,which effectively reduces the cost of financing and greatly improves the financing efficiency.Third,the successful implementation of asset securitization of accounts receivable requires comprehensive risk identification and prevention.Finally,it summarizes the suggestions for financing other Internet companies: First,establish a strict pool of asset standards,focusing on the choice of basic assets.The second is to increase the risk reserve,and to reduce the leverage by supplementing capital.The third is the use of multiple credit enhancement measures to issue securitized products.The fourth is to participate in the construction of a big data sharing platform and joint prevention and control risks.