Financial leasing of the hottest printing equipmen

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To be honest, financial leasing of printing equipment. First, the development of financial leasing. Financial leasing, also known as financial leasing, is a special financial service integrating trade, finance and leasing. What the Lessor provides is financial services, not purely rental services. Financial leasing is a quasi financial business, which can be operated by financial institutions or non-financial institutions. Financial leasing was born in the United States in 1952. It is a financing method that combines funds and equipment closely through short time, low cost and specific procedures. In short, financial leasing is somewhat similar to installment payment. After paying the rent, the lessee often only needs to pay a symbolic nominal price to obtain the ownership of the goods. This is also the biggest difference between financial leasing and traditional leasing. Like renting a car, you need to pay as long as you use it, but the ownership of the car is still owned by the owner. This is a traditional lease. However, if it is stipulated in the lease contract that after the lease term expires, the lessee only needs to pay another yuan to obtain the ownership of the vehicle, which becomes a financial lease

in developed countries, financial leasing has become one of the main ways of equipment investment. On average, 20% of equipment sales in the world are completed through financial leasing. The market penetration rate of the United States is 30%, that of Germany is 18%, and that of Japan is 8%. However, there is no clear data in China. According to industry estimates, it is only about 1% - 2%, so there is a broader market development space

in the past, financial leasing in China was mainly used for the purchase of large-scale equipment such as medical treatment, air transportation, municipal construction, etc. In recent years, the focus of financial leasing has gradually turned to small and medium-sized industries similar to the printing industry, which has won new development opportunities for many small and medium-sized enterprises with temporary capital difficulties. Financial leasing has unique advantages in serving as the main financing channel for small and medium-sized enterprises' Entrepreneurship and technological innovation: first, the separation of ownership and management rights helps to prevent credit risks; Second, the combination of financing and financing, and the unification of capital and trade are conducive to saving financing costs and reducing the transaction costs of relevant parties; Third, the methods are flexible and diverse, which can raise more funds; Fourth, it is rich in high technology and information, which is conducive to strengthening and improving financial services. These advantages of financial leasing can enable small and medium-sized enterprises to obtain valuable financing shares under the difficult environment of "large banks are unwilling to lend, small banks are afraid to lend, and it is difficult to get listed in the capital market", thus ensuring the smooth implementation of technological innovation

the relatively early case of financial leasing entering the printing industry in China occurred in 2001, when Shanghai New Century Financial Leasing Co., Ltd. successfully introduced the "Heidelberg" printing machine for Shanghai Lianghong Printing Co., Ltd. The success of this financing has created new competitive opportunities for Lianghong printing. Recalling the first attempt of financial leasing to enter the printing industry in China, Ms. Liu Jie of new century company said that before doing this business, they had a thorough understanding of the printing industry, and the output signals of sensors were very weak. They believe that: first, the per capita consumption of the domestic printing market is much lower than the international level, so the annual market demand for building insulation materials reaches 250billion yuan, and there is a lot of room for development; Second, the domestic printing industry has great potential for equipment upgrading; Third, with the development of China's economy and the continuous enrichment of material and cultural life, the demand for printed matter is also increasing; Fourth, the printing industry is in good operation, showing an upward trend. After several business attempts, the new century company found that 98% to 99% of the customer base they serve are private enterprises. The quality of the bosses of these private enterprises is very good, very dedicated, and the repayment is very stable. Because of these, Shanghai New Century Financial Leasing Co., Ltd. positioned its business in the printing industry. After more than two years of efforts, they have raised more than 200 million yuan in China, and six of the seven printing plants that have concluded the contract continue to cooperate with them to purchase new printing equipment through financial leasing. As the lessee of this financial leasing, Liu Xuliang, general manager of Shanghai Lianghong Printing Co., Ltd., recalled that under the condition of lack of funds at that time, financial leasing provided a very good development opportunity. Although this method also has many shortcomings, such as higher interest rates, as long as we can grasp the investment cost and recovery ratio, financial leasing is desirable

II. Risk analysis of financial leasing

the benefits of financial leasing entering the printing industry are manifold. For printing enterprises, less start-up funds can be used to obtain urgently needed equipment to carry out production; For the leasing company, it can obtain long-term stable income, and because the ownership has not been transferred during the lease period, the risk is correspondingly small; For equipment manufacturers, leasing has increased their customers and expanded the market

but investment means risk. The same is true of financial leasing. As the lessor and lessee in financial leasing, leasing companies and printing plants bear their own risks

let's analyze the roles of printing plants and leasing companies in the introduction of imported printing equipment by financing. As shown in the figure below, the printing factory first applies for tax exemption to the customs. After obtaining the tax-free quota, the printing factory will purchase printing equipment through the leasing company. In this way, the ownership of the equipment in the Customs record belongs to the printing factory. After the leasing company pays the full amount of the equipment to the supplier through the import and export company, it obtains the ownership of the equipment from the supplier, that is, the supplier acknowledges that the ownership of the equipment belongs to the leasing company. When the leasing company completes the purchase of equipment from the supplier, it must file with the customs, and the equipment has been mortgaged to the leasing company by the customer. The ownership of the equipment does not fully belong to the printing plant until the printing plant has paid all the money to the leasing company

at this time, there is a risk borne by the leasing company: once the lessee cannot pay the accounts owed to the leasing company, the leasing company cannot resell the equipment at will; The leasing company can only deal with the purchased equipment after paying the customs duties and the corresponding value-added tax

we assume that the financing proportion of the printing factory is 50% of the full amount of the equipment, that is, the down payment is 50%, plus 10% of the deposit. The customs tariff is 16% and the value-added tax is 17%. If the financial leasing company is unable to repay the rent due to the closure of the printing factory or other reasons as soon as the equipment is purchased, if the financial leasing company wants to recover the equipment, it means to pay taxes first, that is, 16% of the total amount of the equipment + 17% of the total amount = 33%. If the equipment is successfully sold at the original price, the leasing company will have no economic losses, and the excess funds can be returned to the printing factory after the receivable part is recovered; If the equipment cannot be sold at the original price, the leasing company may suffer economic losses. In order to reduce risks, financial leasing companies will not easily expand the financing ratio, and in the printing industry, the repayment period is mostly 1-3 years, and almost none of them is more than 5 years

from the above risk analysis of financial leasing companies, it is also easy to see that if financial leasing companies really suffer economic losses, the printing factory will first bear greater losses. It can be said that "things are empty"

this can also be considered as risk transfer. According to the contract law of the people's Republic of China - financial leasing contract, when the lease contract is signed, the rights and risks in the purchase of the leased goods are also transferred to the lessee. Now let's analyze what risks the printing factory will bear

the printing factory first applies to the financial leasing company for financing. After credit evaluation, establishing the form of financial leasing and signing the letter of intent for financing, the financial leasing company evaluates the value of the printing equipment, signs the financial leasing contract and completes the transfer of the right to use the printing equipment to the printing factory, when the leasing company needs to purchase equipment from the equipment supplier, the printing factory must pay the down payment and deposit to the financial leasing company, And provide property or real estate equivalent to the financing amount as collateral, and the guarantor shall guarantee it at the same time. We still assume a down payment of 50% and a deposit of 10%. Then the same financing ratio is 50%. At present, the comprehensive annual interest rate of financing is 10%~i 1%. If the printing factory cannot perform the financial lease contract, it means that at least 60% of the total amount of the equipment is lost but nothing is obtained. In addition, there are part of the rent that has been repaid (now financial leasing companies usually calculate by monthly repayment), financing management fees and process costs during the financing lease, such as justice fees, guarantee fees, evaluation fees, etc. The mortgaged property or house property will also be resold. Because for the leasing company, it is possible to return the surplus to the printing factory only after all the money paid for the equipment is recovered, and the equipment here is not included

this also shows that it is almost impossible for the printing factory to default. Although financial leasing is a better way to solve the problem of capital, it is not applicable to any enterprise. It can be said that once the printing factory chooses financial leasing, it means there is no retreat. If you choose to purchase equipment by financing, you should ensure that there is sufficient and stable business, so in addition to special requirements, the volume and sufficient profit margin. Only by fully considering every link, making financial preparations and rationally choosing financial leasing can we truly bring tangible results to the printing factory. Through financial leasing, more factories will be established in the future. President yuan of Chengdu Zhongjia design printing Co., Ltd., which purchases printing equipment by leasing, believes that although it is clear that this way is much more stressful than bank loans, the threshold of bank loans is too high for small and medium-sized enterprises to obtain loans, and financial leasing just solves this problem; Moreover, the pressure brought by the choice of financial leasing actually depends on the operation and confidence of each enterprise. If there is enough business volume and good business philosophy, this pressure can be turned into a driving force

III. competition in the financial leasing market

at present, there are more and more domestic financial leasing companies involved in the leasing of printing equipment, such as Shanghai new century, Zhejiang Financial Leasing, Gold Coast and so on. To get involved in printing equipment leasing, we should not only have the financial qualification of financial leasing companies, but also have an in-depth understanding of the printing industry. For this reason, I visited Zhejiang Financial Leasing Co., Ltd., which was not long involved in the printing industry. Mr. Wang said that Zhejiang leasing has also been in the printing industry for some time. There are two main reasons why it is involved in this industry: first, financial leasing itself is an industry, and only when it is combined with the industry can it have vitality; Second, the printing industry is a basic industry, which has maintained steady growth in China and has a good development prospect. President Wang also said that in order to better serve the printing industry, they will hire industry experts to guide investment and strengthen communication between them and printing plants. As the first industry partner of Zhejiang rent in China, zhaoxiaowei, general manager of Chengdu Jingwei mapping and printing new technology company, which signed a contract with Zhejiang rent at the beginning of this year, said that when considering purchasing equipment by financial leasing, they should contact more financial leasing companies. Considering the rental rate and service, they chose Zhejiang rent, which has entered a stable repayment stage so far. Zhao also said that if the company has more capital problems, they will still consider financial leasing


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