Z市太阳能电池生产基地建设项目融资管理研究

发布时间：2018-01-12 14:15

本文关键词：Z市太阳能电池生产基地建设项目融资管理研究　出处：《中国海洋大学》2013年硕士论文　论文类型：学位论文

【摘要】：近年来,随着能源短缺、环境污染等问题的日趋严重,太阳能电池因其清洁环保、可再生的特点获得了良好的发展机遇,各发达国家纷纷制定光伏发电的鼓励政策和庞大的光伏工程计划,为太阳能电池产业创造了巨大的市场空间。受国际市场拉动,我国太阳能电池产业同期也出现了迅猛增长,2011年我国太阳能电池制造商的全球市场占有率,由2010年的20%增长到2011年的35%,2011年太阳能电池产量已突破2000MW,继2007年之后继续保持全球市场份额第一的地位,我国已经成为全球最重要的太阳能光伏产业基地之一本文利用实地调查等方法从项目建设背景、项目建设条件、项目市场需求等方面对Z市太阳能电池生产基地建设项目建设方案进行了陈述,从项目投资估算、融资的模式和结构及项目的融资方案等方面对融资模式进行了分析,得出项目总投资20333.14万元,达产年销售收入为185000万元,年销售税金及附加1135.85万元。达产期成本费用为人民币174293.16万元。税后财务内部收益率(FIRR)为29.19%,财务净现值(ic=12%)22591.11万元,投资回收期为3.79年(含建设期1年)。财务评价表明项目在经济上是可行的。项目银行贷款本金为12133.14万元由项目每年的利润和折旧费进行偿还,借款偿还期为5.12年(含建设期),具有一定的清偿能力。盈亏平衡分析和敏感性分析均说明项目虽可能面临某些风险,但仍然有一定的抗风险能力。项目计划由企业招商引资及自筹19100万元,申请商业银行贷款12133.14万元,贷款年利率为5.94%,融资结构合理。最后,提出了包括项目融资的政策风险、市场风险和管理风险等融资风险及防范措施。
[Abstract]:In recent years, with the energy shortage, environmental pollution and other increasingly serious problems, solar cells because of its clean and environmental protection, renewable characteristics of a good opportunity for development. Various developed countries have formulated photovoltaic power generation incentives and huge photovoltaic project plans, for the solar cell industry has created a huge market space, driven by the international market. In 2011, the global market share of solar cell manufacturers in China increased from 20% in 2010 to 35% in 2011. In 2011, the output of solar cells exceeded 2000MW. After 2007, China has become one of the most important solar photovoltaic industry bases. In this paper, the construction project of the solar cell production base in Z city is described from the aspects of project background, project construction conditions, project market demand and so on by field investigation, and the project investment is estimated. The mode and structure of financing and the financing scheme of the project are analyzed. The total investment of the project is two hundred and three million three hundred and thirty-one thousand and four hundred yuan and the annual sales income is 1.85 billion yuan. Annual sales tax and additional eleven million three hundred and fifty-eight thousand and five hundred yuan. The cost to the production cost is one billion seven hundred and forty-two million nine hundred and thirty-one thousand and six hundred yuan. The after-tax financial internal return rate is 29.19%. The net present value of finance is two hundred and twenty-five million nine hundred and eleven thousand and one hundred yuan. Investment payback period of 3.79 years (including construction period of 1 year). The financial evaluation shows that the project is economically feasible. The principal amount of the loan from the project bank is one hundred and twenty-one million three hundred and thirty-one thousand and four hundred yuan to be repaid by the annual profits and depreciation expenses of the project. The repayment period of the loan is 5.12 years (including the construction period, which has certain ability to pay off). The break-even analysis and sensitivity analysis show that the project may face some risks. However, there is still a certain ability to resist risk. The project is planned by the enterprise to attract investment and raise 191 million yuan, apply for commercial bank loan one hundred and twenty-one million three hundred and thirty-one thousand and four hundred yuan, loan annual interest rate is 5.94%. The financing structure is reasonable. Finally, the paper puts forward some financing risks, such as policy risk, market risk and management risk, etc.
【学位授予单位】：中国海洋大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F426.6;F406.72

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