我国光伏电源设备企业财务困境的应对与突围——基于柔性财务视角

Relieving Financial Distress of the Photovoltaic Power Equipment Enterprises in China——A Perspective of Flexible Finance

随着《电力发展"十三五"规划》《可再生能源发展"十三五"规划》相继下发,光伏行业面临二次腾飞。广阔的行业前景与日益加剧的企业财务困境预示传统的刚性财务管理模式已不再适应光伏电源设备企业的发展。研究认为,面对补贴下调、产能过剩及贸易摩擦等不利因素,光伏电源设备企业应积极采取提高现金储备、保持低负债水平及优选股利支付方式的措施,增强企业的财务弹性,提高企业应对市场的灵活度。

With the issuing of the"13 thFive-Year Plan of Electric Power Development " and the "13 thFive-Year Plan of Renewable Energy Development ",the photovoltaic industry is facing a second leap. The contradiction between a broad outlook and the increasing financial difficulties of enterprises indicates that the traditional rigid financial management is no longer applicable to the development of photovoltaic power equipment enterprises.According to the research,facing such unfavorable factors as subsidy reduction,overcapacity and trade friction,the photovoltaic power equipment enterprises should try to enhance their flexibility in finance and in the market by improving cash reserves,maintaining low level in debt and optimizing dividends.