| In recent years,more and more policy support has been given to environmental protection enterprises by the state and the performance of the business situation which include many listed corporations within the environmental protection business are also widely concerned by investors.However,due to the large market demand and long capital turnover period of the industry’s own development funds,the problem of insufficient development funds in China’s environmental protection investment industry is prominent,and the liquidity risk is also increasing.EPC mode is the main project mode adopted by China’s environmental protection industry.Therefore,the capital problem of environmental protection industry is prominent,and the liquidity risk is intensified.EPC mode is the main project mode adopted by China’s environmental protection industry.However,EPC projects also have the traits of enormous quantity of input fund,long payoffs circle and investment income cannot be confirmed.Shenwu environmental protection company,as a leading enterprise in promoting green and low-carbon development in the field of product manufacturing,and EPC mode is one of the important project management modes.However,since 2017,Shenwu environmental protection has frequently fallen into the mire of capital liquidity,a number of engineering’s couldn’t be continued and therefore the monetary state of affairs was poor.It is still worthy of in-depth study of the important reasons.In this paper,the research is carried out around the study of Shenwu environmental protection.First,on the basis of literature review,this paper studies the mode of EPC,and expounds the relevant concepts.Secondly,combined with the EPC mode,this paper studies the current situation of China’s environmental protection,and sums up the characteristics of the industry from the perspective of the supply and demand of relevant funds.Based on the theory of capital circulation and risk dispersion,this paper uses the method of fuzzy comprehensive to evaluate the liquidity risk of Shenwu environmental protection.Through the combination of theory and practical operation method,it analyzes the situation of risk management in each link of capital circulation of Shenwu environmental protection,and explores the main problems.Through the above analysis,the main problems of Shenwu environmental protection focus on narrow financing channels,limited investment scale,temporary establishment of EPC project,and multiple roles of management personnel and so on.For these problems,this study provides corresponding solutions,in order to help or provide practical suggestions for the development of Shenwu environmental protection.Through the research on liquidity risk management under EPC prehistory,while this paper provides a reference for risk management of Shenwu Environmental Protection,it may give some development ideas for firms within the same trade or adopting the EPC model,which will help corporations to have a deeper understanding of the liquidity risk of EPC mode and improve the level of risk management. |
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