Analysis of the characteristics of four innovative financial leases

Financial leasing is a leasing model that integrates financing and property financing.，The easiest thing is to rent directly。However, because the actual situation is more complex，Various problems that arise during actual operation cannot be solved by direct leasing.，Therefore, many innovative financial leases have been derived on the basis of direct leasing.。This article is compiled by Shanghai Yushang into four representative innovative financial leasing models.。

one、Operating lease (hybrid lease)

1. The specific business form can be direct leasing of newly purchased equipment or sale and leaseback of existing equipment.，Also known as "mixed leasing"
2. Features: Suitable for companies with high pressure on financial indicators，Situations where you want to adjust the asset-liability ratio, turnover rate, etc.，Especially listed companies or companies planning to be listed。The key points of the transaction are similar to those of simple financial leasing.，However, the residual value treatment is agreed upon，The risk is borne by the lessor。
3. Description of main features 1) This is a project where the leasing company bears the residual value risk，Financial leasing business with off-balance sheet financing to maintain or reduce the lessee's asset-liability ratio；2) Because the leasing company and the lessee have different accounting methods for the agreed residual value at the end of the period，This type of transaction has the dual characteristics of financial leasing and operating leasing.；3) on the leasing company side，Since a third party independent of the lessee and lessor provides residual value guarantee，This type of transaction is recognized as "finance lease" in accounting terms；4) on the lessee’s side，As an independent legal person, it does not assume any commitment obligations regarding residual value repurchase guarantees.，This type of transaction is recognized as an "operating lease" in accounting terms。
4. Transaction process 1) The lessor (leasing company) signs an equipment purchase contract with the supplier；2) The lessor pays the equipment purchase price；3) The lessor and the lessee sign a financial lease contract；4) The lessee pays rent to the lessor regularly；5) Independent third party provides residual value guarantee；6) The supplier delivers equipment and after-sales services to the lessee。two、joint tenancy
5. Specific business model: direct leasing of newly purchased equipment or parallel combination of sale and leaseback of existing equipment。

2Features suitable for projects large enough，The subject matter is indivisible，A leasing company cannot complete it independently due to various reasons，It is necessary for two or more leasing companies to jointly provide financial leasing services similar to a syndicated loan for a leasing project.。

1. Description of main features 1) In accordance with the provisions of the "Property Rights Law"，The ownership of the subject matter of the leased property between the parties involved, either "jointly owned" or "shared in common"，Divide the corresponding risk and return proportions according to different investment proportions；2) under the mode of "tenancy in common" or "tenancy by shares"，The leader acts as agent for all parties involved，with lessee、The supplier signs an equipment lease and purchase contract and makes payment，The leader will then distribute the benefits among the participating parties according to the different proportions of capital contributions.；3) under the mode of "tenancy by share" or "tenancy in common"，Agree on the parties and the lessee in the same equipment leasing and purchase contract、Supplier’s rights and responsibilities，and make direct payments separately，gain benefits。
2. Transaction process 1) The leader (leasing company) jointly makes leasing arrangements with participating companies；2) The leasing company and the supplier sign an equipment purchase contract；3) The leasing company pays the equipment purchase price；4) The leasing company and the lessee sign a financial lease contract；5) The lessee pays rent to the leasing company regularly；6) The supplier delivers equipment and after-sales services to the lessee。

three、Industrial chain leasing

1. Specific business forms: direct leasing of newly purchased equipment or sale and leaseback of existing equipment
2. Characteristics: Satisfy the financial needs of large customers and customers upstream and downstream of the industry chain，Incorporate the entire industry chain investment and financing into factoring bank monitoring，And based on the customer's upstream and downstream business contacts in the industry chain to explore potential business，Such as oil, gas and chemical industry chain leasing。
3. Description of main features 1) After directly establishing financial leasing business relationships with large customers，In-depth understanding and exploration of relevant customer situations upstream and downstream of the industry chain where the customer is located；2)Targeted analysis and exploration of the financing needs of relevant upstream and downstream customers，Combined with the special circumstances of established financial leasing business，Provide direct financial leasing services to relevant upstream and downstream customers；3) and factoring banks respectively for the accounts receivable of the relevant upstream and downstream customers，Combine the above financial leasing business to reach account supervision arrangements；4) Refer to the supplier leasing model，Vigorously explore oil and gas industry chain leasing。
4. Transaction process 1) Sale and leaseback between lessor (leasing company) and large customer，Solve the financing needs of large customers；2) The lessor (leasing company) and downstream purchaser customers use supplier leasing，Use seller's credit to solve the financing needs of downstream buyer customers；3) The lessor (leasing company) uses direct leasing to cooperate with supplier customers of large enterprises，Solve the capital occupation and sales receivables of upstream suppliers。

4) The factoring bank performs lease factoring on the lessor (leasing company)，Lending money to lessor；5) Factoring banks supervise the collection accounts of downstream purchaser customers；6) Factoring bank supervision and upstream supplier customer sales account supervision。Four、Bonded leasing model

1. Specific business forms generally target import and export equipment (such as machines、Boat)，Mostly settled in US dollars。
2. Features applicable to import and export equipment that enjoy special tax policies (such as aircraft、ships, etc.)，Due to tax burden, foreign exchange and other reasons，A project company is established by a financial leasing company in a bonded zone “domestic and outside customs”，Bing operates the leasing project in its name。
3. Description of illumination characteristics 1)The project company is located in a bonded area "domestic and outside customs"，Can enjoy the same tax treatment on the import and export of equipment in the zone；2) When carrying out engine and ship leasing，Adopting this model can effectively solve the tariff problem of importing and exporting aircraft.、Tax refund issues for export ships、Facilitates ship registration issues, etc.；3) The project company, as the nominal lessor, is located in a bonded area “domestic and outside customs”，Since all transaction entities are within the country,，One-time general withholding income tax does not apply，possible、Can effectively reduce the tax burden of the bearer；4) settled in US dollars，It can effectively meet the urgent needs of some lessees for US dollar financing.。
4. Transaction process 1) The shareholder-financial leasing company and the project company initiate the establishment of the bonded zone project company；2) The project company and the supplier sign an equipment purchase contract；3) The project company pays the equipment purchase price to the supplier；4) The project company and the lessee sign a financial lease contract；5) Tenant pays rent。

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