financeleaseinchinaturningchallenge(ppt51)-经营管理(编辑修改稿)

financeleaseinchinaturningchallenge(ppt51)-经营管理(编辑修改稿)内容摘要：

n expiration 3. Amount, timing, number of rental payments 4. Term of lease period 5. Interest/Discount Rate. Owners/User Rights. Transfer (sale to Lessee) All Subject to Agreement between the Lessee and Lessor (art. 243 of new Contract Code) October 1999 XIN DE TELECOM 18 Conventional vs. SPL • Short period, 5 years. • Strict credit check. • Letter of Guarantee. • Amount, timing of financing are fixed • Rent payment is fixed corporate obligation. • Single Equipment. • Not Limited • Flexible Project based. • Flexible. • Master Lease with multiple drawdowns. • Based on specific business performance. • Total project. October 1999 XIN DE TELECOM 19 4, How does SPL work? Capital injection Payback Performance sharing time October 1999 XIN DE TELECOM 20 Funding and repayment targets • Based on the requirements and operating results of the lessee. • Jointly defining the calculation bases. • Periodic inspection and supervision over results. • Revising the performance against the original outlook. October 1999 XIN DE TELECOM 21 Capital Injection Period • Disbursing fund according to equipment purchase contract and construction contract. • Capital injection period and payback period: Conventional in series SPL model with overlap. October 1999 XIN DE TELECOM 22 Annual Capital Funds Requirements 0204060801001201401 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16October 1999 XIN DE TELECOM 23 Calculation Basis • Define business result basis • Measurable amp。 Objective agreedupon in detail • Could be a percentage of: sales, gross margin on sales, ine, operating cash flow October 1999 XIN DE TELECOM 24 Business Result 010020030040050060070080090010001 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16October 1999 XIN DE TELECOM 25 The Cash Flow Between Lessor and Lessee 0501001502002501996 1997 1998 1999 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020N e w I n v e s t m e n tR e i n v e s t m e n t。