A Case Study On The Accounts Receivable Securitization In T Group

Asset securitization is a popular financing method in China in recent years.It solves the dilemma of difficult and expensive financing for many enterprises,and provides a new method for enterprise asset management.Accounts receivable securitization financing is one of them.In recent years,more and more enterprises have tried this financing method,and the effect is quite optimistic.In this paper,its successful experience is taken as the breakthrough point to study the theory and practice of accounts receivable securitization financing.In this paper,through the method of combining theory and case analysis,this paper analyzes the first phase asset securitization project of accounts receivable of T group,and provides some experience and Enlightenment for other enterprises to implement asset securitization of accounts receivable.First of all,from the financing environment and financing demand level,this paper analyzes the reasons why T group pharmaceutical implements the asset securitization of accounts receivable.Then,this paper analyzes the basic situation and key links of the project implementation.Finally,the paper analyzes the effect of asset securitization project of T group and its impact on business performance.It is enhanced the solvency of the enterprise,revitalized the accounts receivable of the enterprise,improved the operation ability,reduced the financing cost of the enterprise,and strengthened the development ability.The conclusions is: the innovative financing mode of accounts receivable securitization financing has important promotion significance for other enterprises in the decoration industry whose accounts receivable scale is large,the future cash flow is stable and needs to improve the financial situation through securitization financing.The successful issuance of accounts receivable securitization is closely related to the arrangement of any link,and must be strictly controlled.Based on the analysis of the process of accounts receivable securitization,this paper pays more attention to the in-depth analysis of the key links such as the structural design and the selection of the basic assets,and through the comparison before and after financing,it is concluded that optimizing the key financial indicators of enterprises and improving the profitability of the equivalent results,especially pay more attention to the financing cost of accounts receivable securitization compared with the traditional financing The advantages of the financing cost of capital mode,as well as the effect of reducing the financing cost of enterprises have made a breakthrough.On the other hand,this paper selects the construction decoration industry t group accounts receivable first phase of asset-backed securities special plan,the industry’s first successful financing case of building decoration listed private enterprises,to a certain extent,enriches the practice of accounts receivable securitization financing.