What a professional question, but it's on spiders.

I. International support funds

International support funds are an energy-saving financing market system that combines the funds of some international institutions with the matching funds of domestic banks, mainly including: the "China Energy-saving Financing Project" jointly developed by the China Municipal Government, the World Bank and the Global Environment Facility provides loans for energy-efficient projects through the matching funds of lending banks; The "China Energy Conservation and Emission Reduction Financing Project" provided by IFC for risk sharing of financing loans for energy conservation and emission reduction issued by cooperative commercial banks; The "green intermediate credit" provided by the French development agency is lower than the market interest rate. The projects supported by international funds have a high entry threshold for the credit, financial and project conditions of loan enterprises, and there are not many contracted energy management projects that actually obtain financing from the above channels.

second, commercial bank credit

at present, bank credit is still the main financing channel for energy-saving service companies. Credit business is an important asset business of commercial banks. Credit is the main means of profit for commercial banks, because it can recover the principal and interest by lending money and make profits after deducting the cost.

In order to support energy conservation and emission reduction, Huaxia Bank, China Merchants Bank and Shanghai Pudong Development Bank, domestic commercial banks, use lending projects to enter the field of energy conservation; Bank of Beijing participates in the second-phase energy-saving financing guarantee mechanism of the World Bank; The project of risk sharing mechanism for Industrial Bank to join the International Finance Corporation; Minsheng Bank participated in the World Bank's energy-saving lending projects. In the financing mode of contract energy management projects, financial institutions have made beneficial explorations and innovations in the financing mode, mainly including: combining the characteristics of energy-saving service industry, innovatively applying the pledge of future income rights of the project, actively providing credit guarantee for energy-saving service companies, and extending the loan credit guarantee period to three years. Encourage commercial financing guarantee institutions to actively participate in the financing guarantee work of energy-saving service institutions. Measures such as establishing cooperation mechanism between contract energy management institutions and financial institutions.

the pledge of the right to future income means that the bank will distribute the future income of the project to the enterprise in advance in the form of a discounted loan, and the loan period depends on the collection period of the project, with the future income of the project as the repayment source of the loan.

iii. financial leasing

globally, financial leasing has become the only financing channel after bank credit. in developed countries, 8% of energy-saving and emission-reduction projects are realized by financial leasing. With the further development of contract energy management mechanism in China, a large number of financial leasing companies, both domestic and foreign, are optimistic about energy-saving service industries. At present, more and more customers are financing energy-saving equipment/assets (rental network) through financial leasing.

bank credit requires enterprises to provide mortgages to banks, and to implement a lower discount rate for collateral. Compared with bank credit, financial leasing has the advantage of complete financing, and the lessee can generally achieve a higher proportion of financing. For enterprises with large financing needs, the credit status is very important. It is thought that loans are generally reflected in the liabilities of enterprises, which will affect the refinancing ability of enterprises, and financial leasing can realize off-balance-sheet financing according to structural design and arrangement.

In practice, financing lease can be adopted in the following ways:

Direct lease: the lessor pays the loan to the manufacturer with the borrowed funds raised in the capital market, and rents the equipment directly to the user (lessee) after purchasing it.

leaseback lease: also known as after-sale lease, refers to the practice that the equipment owner sells part of his own property (such as equipment and houses) to the leasing company and then rents it back from the leasing company. When an enterprise is short of funds, it is very beneficial for the enterprise to obtain the required funds and improve its financial situation on the premise of retaining the right to use assets.

Leveraged lease: Leveraged lease, also known as balanced lease, involves relatively large capital projects. It refers to a financing tax-saving lease composed of "financial leverage". Generally, the lessor only needs to pay 2% ~ 4% of the total amount of equipment, so that he can economically (and only economically) own the equipment and enjoy the same tax treatment as 1% investment in equipment. Most of the equipment cost is secured by a rented equipment, which is financed by loans from financial institutions such as banks, insurance companies and securities companies. The lender has no recourse to the lessor when providing credit, and the guarantee for the repayment of its funds lies in the equipment itself and the rental fee. At the same time, the lessor's first mortgage on the equipment, the lease contract and the transferee's right to collect rent are needed as guarantees for the loan.

entrusted leasing: the financial leasing company, as the lessor, accepts the funds from the principal and conducts the financial leasing business according to the lessee and conditions (purpose, amount, term and interest rate) specified by the principal.

for example, energy-saving service companies such as zhongke yujie energy-saving equipment co., ltd. can open up capital sources through financial leasing mode, and powerful energy-saving service companies can also set up financial leasing companies when the time is ripe to realize internal integration and realize the integrated mode of multi-party cooperation among energy-saving customers, energy-saving service companies, financial leasing companies and energy-saving equipment manufacturers.

iv. equity financing

for energy-saving service companies in the growth stage, the threshold of bank credit is relatively high, and equity financing is an effective financing channel. Equity pledge, also known as equity pledge, refers to the pledge established by the pledger with the equity owned as the pledge subject matter. According to the legal system of guarantee in most countries in the world, pledge can be divided into chattel pledge and right pledge based on its subject matter. Equity pledge is a kind of right pledge, which enables creditors to obtain the security interest in the pledged equity because of the establishment of equity pledge, and it is equity pledge.

v. Contract Energy Management Project Transaction

At the stage when the financing channels and modes are not perfect and mature, all parties are actively exploring and practicing. In addition to the above-mentioned financing channels and modes of contract energy management, in practice, the future service income of energy-saving service companies will be transferred to obtain liquidity, and the contract energy management project transaction mode of new contract energy management projects will be carried out. The energy-saving service companies will share market resources, solve capital needs and technology financing modes through integration and cooperation by holding or equity participation.

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Further reading: How to buy insurance, which is better, and teach you how to avoid these "pits" of insurance.