Datang Power Generation Co.,Ltd. Debt Financing Structure Research

Since the second industrial revolution,the electric power industry has gradually become an important basis for industrial development and played an irreplaceable role in promoting economic development.Under the special economic system of our country,the important driving force of national economic development comes from electric power enterprises.During the 13 th Five-Year Plan period,the total scale of national investment in the basic electric power industry exceeded 1 trillion yuan,but the power grid enterprises’ own hematopoietic capacity still could not meet the demand for funds,thus facing huge financing pressure.From the perspective of financing,the difficulties faced by electric power enterprises are obvious.Different financing methods have different effects on the financial structure and operation structure of electric power enterprises.Therefore,it is very necessary to analyze the debt financing structure of power grid enterprises from multiple perspectives and in depth.In this paper,datang power generation as the object of study,focus on the study of debt financing structure,the company’s debt financing structure,asset-liability ratio as the entry point of research,at the same time,in-depth analysis of its bonds,banks and other debt structure.Taking empirical analysis as research means,this paper comprehensively and multi-angle studies the relationship between enterprise operating performance and asset-liability ratio,debt financing composition structure and debt financing maturity structure.And it is concluded that:It can be shown that the change of short-term debt financing will affect the business performance of enterprises(P < 0.05),and it can also be shown that the unreasonable and unscientific debt financing structure will seriously affect the operation of electric power enterprises.And put forward the datang power company in the debt financing structure of the existing "asset-liability ratio is high";"The debt financing structure is unreasonable";"The excessively high ratio of bank loans leads to excessive dependence";T he problem of "illiquidity".At the same time,in view of the bond financing problems of Datang Electric Power Company,"reduce the asset-liability ratio";"Optimize the debt financing structure";"To achieve bond diversification";"Maintain reasonable liquidity" measures.This paper mainly studies the quantitative analysis,supplemented by qualitative analysis to further design the enterprise financing system,which has practical guiding significance for promoting the healthy development of the company...