logistics industry: potential financing rules breed industry risks
2015-07-24 Read 121

in the face of high interest rate cost, if enterprises want to make profits, they can only increase the logistics cost and reduce the investment and construction of logistics software and hardware, which virtually turns the interest rate cost into risk cost, resulting in the situation that the cost of the whole logistics industry continues to rise, but their own service ability has been declining.

in the face of financing difficulties, enterprises come up with a solution: internal fund-raising. This way solves the problem of capital shortage to a certain extent, at the same time, the enterprise and its employees are benefited. However, this suspected disguised way of fund-raising can only be an industry "hidden rule", which has great potential.

What kind of financing problems and difficulties are the local logistics enterprises in Yunnan facing? Recently, the reporter visited Liangting iron and steel logistics base and Haohong logistics base and other small and medium-sized logistics enterprises, and learned that although the enterprises overcome the financing problems through a variety of ways, they have not fundamentally solved the problem of financing difficulties. On the whole, the local logistics enterprises in Yunnan are still facing huge financing obstacles 。

policy change makes financing more difficult for steel logistics industry

"most of the small and medium-sized logistics enterprises have the problem of financial difficulties. Generally, they mainly solve the financial problems through bank loans, small loans and peer loans within the" circle. " Cai Changyou, general manager of Weijian Business Logistics Co., Ltd., said that the way for small and medium-sized logistics enterprises to solve the capital problem can be described as "Eight Immortals crossing the sea, each showing his magic power". However, there has been no long-term and feasible way to completely solve the problem.

according to Cai Changyou, at present, the main problems of small and medium-sized logistics enterprises through bank loans are insufficient capital investment, poor financing channels and lack of capital sources. Taking steel logistics as an example, before 2009, the enterprises mainly engaged in steel sales and logistics can obtain loans from five state-owned commercial banks such as ICBC and CCB, as well as many joint-stock commercial banks, and the loan amount can reach about 150% of the enterprise's asset evaluation. With the change of national macro-control, the five state-owned commercial banks are now very strict in assessing the loan business of new steel logistics enterprises, and rarely accept the demand for steel financing. The loan amount of joint-stock commercial banks to steel logistics enterprises has also decreased by about 70%.

capital problems lead to a dead cycle of enterprise operation

"in the face of poor bank financing channels and low amount of money, small and medium-sized logistics enterprises can only use private micro loans and intra industry loans, and these financing methods can only be used as emergency measures, which is a helpless move." Cai Changyou said that in order to avoid the rainy season, the main business of logistics enterprises mainly engaged in building materials is generally concentrated in March, April and September. These months are the most tense time nodes of the year, and the peer capital is almost in a difficult stage. Therefore, the peer internal lending can only be used as an auxiliary way to break through capital difficulties. Micro loan has become the main financing method in this period, but the interest rate cost of 9% to 15% of the loan part is daunting for many enterprises.

in the face of high interest rate cost, if an enterprise wants to make profits, it can only increase the logistics cost and reduce the investment and construction of logistics software and hardware, which virtually turns the interest rate cost into risk cost, resulting in the situation that the cost of the whole logistics industry is rising, but its service ability is declining.

hidden risks of "hidden rules" for enterprises to change money

"the financing bottleneck has become one of the key factors restricting the development of logistics enterprises. Can we learn from the listed enterprises to solve the financial difficulties by issuing shares? This may be the next direction for the logistics industry to ponder." A person in charge of a large logistics enterprise in Chuxiong said that not only small and medium-sized logistics enterprises are facing financing difficulties, but also large and medium-sized third-party logistics enterprises in Yunnan are facing capital shortage.

according to the above person in charge, as professional third-party logistics enterprises, most local enterprises have problems such as lack of self owned warehouse resources, need to rent more warehouses and need to supplement working capital. At the same time, when it comes to port distribution, the import and export port declaration business, paying customs duties and import value-added tax on behalf of customers, the demand for funds is also relatively large.

in the face of these capital problems, in recent years, in addition to bank loans and other channels, some logistics enterprises related to building materials began to try another kind of financing, and then issued internal bonds to deal with the capital problems, which has become an unwritten rule for some logistics enterprises related to steel, cement and other building materials in recent years.

Taking the internal bonds issued by the above logistics enterprises in 2012 as an example, through the way of internal employees' subscription of corporate bonds, they can choose to buy bonds of any amount less than 1 million, with an annual dividend rate of 15%, and distribute the interest through quarterly return. In 2012, a total of 6.74 million yuan of internal bonds were issued, which solved the problem of shortage of funds to a certain extent. At the same time, the enterprise and its employees were benefited to varying degrees. However, while raising funds in disguised form to solve the problem of enterprise funds, this kind of internal financing also has certain risks. Whether the employees can withdraw the financing funds at any time and whether the relevant regulations support similar financing methods need to be further verified.

the industry calls on the government to take the lead in building a platform

Can this financing idea be extended to the construction of a unified financing guarantee platform for private debt financing of enterprises, so as to further fundamentally solve the financing difficulties of enterprises? Some people in the industry believe that if we can take the lead of relevant government departments and logistics purchasing associations to form a logistics park alliance platform, and establish a unified logistics park by combining business fields or regional enterprises A guarantee joint stock limited liability company in the logistics industry. At the same time, select some leading enterprises in the field of logistics as the sponsors, take the company as the carrier to carry out special financing work, and even join some banks to take the way of equity, so as to further enlarge the credit and capital guarantee of guarantee companies, and then solve the financing problem of logistics industry, so as to make the whole industry bigger and stronger.