1, absorbing direct investment

(1) The funds raised by enterprises in absorbing direct investment can generally be divided into three categories: absorbing state investment, absorbing legal person investment and absorbing individual investment.

(2) The characteristics of absorbing direct investment: it is conducive to enhancing the reputation of enterprises, forming production capacity as soon as possible, and reducing financial risks; But the capital cost is high, and it is easy to disperse the control of enterprises.

Advantages: productivity can be formed as soon as possible, and information communication is easy.

Disadvantages: the capital cost is high, and it is not easy to trade property rights.

Procedures for absorbing direct investment:

1, determine the financing amount.

When an enterprise builds and expands its business, it must first determine the amount of funds it needs. The capital demand should be verified according to the scale of production and operation and the supply and marketing situation of the enterprise, so as to ensure that the amount of funds raised is commensurate with the capital demand.

2, looking for investment units

Enterprises should not only widely understand the credit standing, financial resources and investment intentions of relevant investors, but also make investors understand the business ability, financial situation and future expectations of the enterprise through information exchange and publicity, so as to help the company find the most suitable partner.

3. Negotiate and sign investment agreements.

After finding a suitable investment partner, the two sides hold specific consultations to determine the amount, method and time of investment. Enterprises should absorb monetary investment as much as possible.

If the investor does have advanced and suitable fixed assets and intangible assets, it can also use non-monetary investment. Non-monetary assets such as physical investment, industrial property right investment and land use right investment.

Both parties shall negotiate pricing according to the principle of fairness and reasonableness. After the capital contribution and assets evaluation are determined, both parties shall sign an investment agreement or contract to clarify the rights and responsibilities of both parties.

4. Get the raised funds

After the signing of the investment agreement, the enterprise shall obtain funds according to the regulations or plans. If cash investment is adopted, it is usually necessary to prepare a fund plan to determine the term of funds, the amount of each period and the distribution method.

Sometimes investors must make clear the purpose of the appropriation, such as dividing the appropriation into fixed assets investment appropriation, working capital appropriation and special appropriation. If the investment is made in kind, industrial property rights, non-patented technology and land use rights, an important issue is to verify the property.

Whether the amount of property is accurate, especially whether the price is overvalued or undervalued, is related to the economic interests of all investors and must be dealt with seriously. When necessary, you can hire a professional asset appraisal agency to conduct appraisal, and then go through the formalities of property right transfer to obtain assets.

2. Issue common stock

(1) Common stock is a stock issued by a joint stock limited company with the right to operate and variable dividends. Common stock has the general characteristics of stock and is the most basic part of the capital of a joint stock limited company.

(2) Common shareholders generally have the following basic rights: the right to manage the company, the right to share the surplus, the right to sell or transfer shares, and the right to claim the surplus property.

(3) The characteristics of common stock financing: no fixed interest burden, no fixed maturity date, small financing risk, which can increase the company's reputation; However, the cost of common stock financing is high and it is easy to decentralize control.

superiority

(1) there is no fixed interest burden, which does not constitute a fixed fee;

(2) There is no fixed maturity date, so there is no need to repay;

③ The risk of fund-raising is small;

(4) Common stock can serve as a buffer for creditors' losses, and issuing common stock can increase the company's reputation;

⑤ There are fewer restrictions on fund-raising.

disadvantaged

① High capital cost;

(2) Selling common shares will disperse the voting rights and control rights to new shareholders, which is easy to disperse the control rights.

3. Long-term borrowing

(1) Long-term loans refer to loans borrowed by enterprises from banks or other non-bank financial institutions with a service life exceeding 1 year (excluding 1 year).

(2) Long-term loans are divided into credit loans and secured loans according to whether guarantees are needed.

(3) The repayment methods of long-term loans include: regular interest payment and one-time repayment of the principal at maturity; Regular equal repayment method; Usually a small part of the principal and interest are repaid in installments, and most of them are repaid at the end of the period.

(4) Compared with other long-term financing methods, long-term loans have the characteristics of fast financing speed, low financing cost and great loan flexibility, but there are many restrictions.

superiority

1, quick financing.

2. The loan is flexible.

3. Low cost.

4. Give full play to financial leverage.

It is easy for enterprises to keep financial secrets.

disadvantaged

1, the financing risk is high.

2. There are many restrictions on use.

3. The amount of funds raised is limited.

4. Issue bonds

(1) bond is a kind of creditor's rights and debt certificate that the issuer promises to pay interest and principal to the bondholder on a certain date.

(2) The basic elements of bonds include: the face value of bonds, the term of bonds, the interest rate and interest of bonds, and the price of bonds.

(3) Bonds are divided into government bonds, financial bonds and corporate bonds according to different issuers; According to whether there is mortgage guarantee, it is divided into credit debt and guarantee debt; According to whether it can be converted into shares, it can be divided into corporate bonds (non-convertible bonds) and convertible corporate bonds.

(4) The characteristics of bond financing: low capital cost, ensuring control and exerting financial leverage; However, bond financing has high risks, many restrictions and limited financing amount.

Advantages and disadvantages:

The advantages and disadvantages of issuing bonds are between listing and bank borrowing, and it is also a feasible financing means, but the key is to choose the right time to issue bonds. When choosing the timing of issuing bonds, we should fully consider the trend expectation of future interest rates.

There are many kinds of bonds, among which corporate bonds, corporate bonds and convertible bonds are common in China. Corporate bonds have low requirements, while corporate bonds have relatively strict requirements.

Only wholly state-owned companies, listed companies and limited liability companies established by two state-owned investors are eligible for issuance, and there are strict restrictions on the asset-liability ratio and capital of enterprises. Convertible bonds can only be issued by key state-owned enterprises and listed companies.

Financing by issuing bonds has the advantages of long repayment period, few additional restrictions and low capital cost, but the procedures are complicated and strict with enterprises.

Moreover, China's bond market is relatively light, trading is inactive, and the issuance risk is high, especially long-term bonds, which face greater interest rate risk and lack financial tools for risk management.

5. Financing lease

(1) Lease refers to a contractual act in which the lessor grants the lessee the right to possess and use the property within an agreed period of time under the condition that the lessee gives a certain reward.

(2) Financial leasing, also known as financial leasing, has three forms: after-sale leaseback, direct leasing and leveraged leasing.

Advantages and disadvantages:

The financing speed is fast, the restrictions are few, the risk of equipment elimination is small, the debt repayment burden is light and the tax burden is light; However, the capital cost of financial leasing is high.

Baidu encyclopedia-long-term financing