A Case Analysis Of The Securitisation Financing Of Heat Income Right Of HGR Group

In March 2018,during the two sessions,Premier Li Keqiang once again emphasized that it is important to sing the highlight of the reform of state-owned enterprises,promote the enterprises' use of stock assets,promote asset securitization,and strengthen the financial leverage of state-owned enterprises.Under the influence of market economy,the management mode of some state-owned enterprises lags behind,leading to low operational efficiency and high asset-liability ratio.Traditional financing methods have been unable to meet their financing needs,and innovative financing methods have become an important one in the reform of state-owned enterprises."The HGR Group's thermal fee income right asset securitization" is a typical case of state-owned enterprise financing reform,which is financed through income right asset securitization.This article first discussed the necessity of the Group's asset securitization financing.Its financing costs are calculated and it is found that the asset securitization financing saves the cost of financing compared to the traditional financing method.The cash flow is forecasted by the grey linear regression model.It is found that the cash flow of the underlying asset is stable,the risk is low,and the risk is low.The model analyzes product pricing and,in addition,analyzes the risk issues in the asset securitization process.Through the case analysis,we found the irrationality of product design,and finally evaluated the whole process and effect of this case,and provided reasonable suggestions for the same type of enterprise to choose asset securitization.