Research On The Securitization Of Zoomlion's Accounts Receivable

In recent years,in the face of industry downturns and market competition,Zoomlion has adopted credit sales to increase sales,which has led to an increase in corporate receivables,which has brought about an unpredictable negative impact.Through research,this paper finds that the overall situation of the industry has been poor due to the impact of the macro environment and policies in the past few years,and the situation has improved in 2017.As a leader in the industry,Zoomlion has always been committed to breaking through the predicament and bravely moving forward.By using the research structure of Du Pont analysis,it is found that the balance of accounts receivable of the company is high,the debtor has a high repayment rate and the credit is good.In response to these problems,the literature analysis method was used to collect research on domestic and foreign accounts receivable and similar cases,and the Zoomlion accounts receivable securitization plan was designed.Objectives and principles for the securitization of Zoomlion's accounts receivable,the expected issuance scale,expected issuance period,expected asset pool situation,revolving purchases,accounts receivable securitization rating arrangements,securitization costs,and preparation of issuance materials and The time estimate was briefly designed.At the same time,a detailed flow chart was formed for the specific process of securitization of Zoomlion's accounts receivable,and an operation manual was formed accordingly.The article-designed accounts receivable securitization plan will bring a series of benefits to Zoomlion,including achieving accounts receivable,optimizing financial statements,reducing debt ratio,and reducing accounts receivable management and collection costs.Financial benefits such as early withdrawal of funds and other social benefits.In addition,it proposes internal security measures such as strengthening the management of receivables,establishing a collection system,improving risk isolation measures,and strengthening cooperation with credit rating agencies,actively responding to the lack of legal system and preventing the default risk of buyers or their guarantors and other external safeguards.Under the guarantee of this series of measures,the securitization of Zoomlion's accounts receivable has a successful premise.