As of June 29, 2018, there were 102 smart city PPP projects nationwide, with a total investment of approximately 87.904 billion. Among them, the number of integrated smart city projects is the largest, 56 (54.90%), with a total investment of 58.735 billion yuan. There are 102 smart city PPP projects in 24 provinces, cities, autonomous regions, municipalities directly under the Central Government and Xinjiang Production and Construction Corps. Among them, Shandong and Hunan Province have the most projects, with 19 projects (accounting for 18.63%) and 14 projects (accounting for 13.73%) respectively, and Guizhou, Xinjiang, Henan, and Anhui have 9 projects (accounting for 8.82%). %), 7 (6.86%), 5 (4.90%), 5 (4.90%), and the number of projects in other provinces is less than 5. Among them, there are many PPP projects in which security companies participate.
With the intensification of competition in the security industry, more and more companies in the industry, especially listed companies, rely on the power of capital to obtain more funds for themselves to participate in the construction of large-scale security projects such as Safe City. At the same time, some domestic system integrators, led by Hikvision and Dahua, are also expanding smart city PPP projects through their own experience in system integration and financial strength.
The operational investment of PPP projects has promoted the development of the security industry and also provided development opportunities for security companies. Take Leon Technology as an example. The express released in early 2018 showed that Leon Technology’s year-on-year growth rate was as high as 168.9%. For this local Xinjiang company, its performance has increased rapidly and the rapid growth of Xinjiang’s security industry, and Kashgar City The Safe City PPP project is inseparable. In the past year, Leon Technology's order volume and overall order amount have both been higher than previous years.
At present, there are several main modes of public-private cooperation in security PPP-new urban video surveillance projects: 1) The government and social capital establish a project company at a certain ratio; 2) The project company participates in project financing, investment, construction, and operation and maintenance throughout the process; 3 ) The initial funding of the project comes from government financial subsidies, bank loans, other equity investments, etc.; 4) The working capital of the project comes from operating expenses provided by the government according to the progress of the project; 5) The profit of the project comes from government service fees.
Judging from the project data in recent years, the current development of the security PPP model presents the following characteristics: 1. The government and social capital jointly establish a project company in a certain proportion; 2. The project company participates in project financing, investment, construction and operation throughout the process. To a certain extent, it has strengthened the adhesion between the enterprise and the government; 3. The initial funding of the project comes from government financial subsidies, bank loans, and other equity investments; 4. The project working capital comes from the operating expenses given by the government according to the progress of the project; 5. Most of the project profit comes from government service fee expenditures, and part of it requires corporate franchise profits. Compared with smart cities, security PPP projects are mainly concentrated in county-level areas, mostly PPP projects of various levels of government, and there are fewer demonstration PPP security projects. The payment method is government payment and user payment + feasibility gap Subsidies are the mainstay; most require joint establishment of SPV companies, and the shareholding ratio of enterprises is much higher than that of the government. Most of the funding sources come from enterprises; the project operation time is mostly 10-15 years, and a few require more than 20 years; financing forms include equity financing , Debt financing, social capital self-financing, project company self-financing, etc.
Compared with traditional security projects, security PPP projects have absorbed more participants, effectively pooled social capital and more fully diversified project risks. In the PPP model, in addition to the government and security companies, the most important ones are commercial banks and financial leasing parties, professional investors or financial investors. Participants can better divide the rights and responsibilities of all parties. The government mainly provides policy support, process supervision and project acceptance; capital parties (including commercial banks, financial leasing parties and investors) are mainly responsible for ensuring the capital chain through capital operations Security: The security company is mainly responsible for the design, construction, operation and other services of the project, solving technical problems, and ultimately all parties share the profits in accordance with the agreement.
It is worth noting that when security companies participate in PPP projects, they need to strengthen the profitability of the project, and improve the commercial operation and development of the project. According to the construction of smart cities, due to the incomplete and incomplete data collection in the early stage, and the lack of development foundation, the early-stage profit may be less. However, after a period of data accumulation, the project company can guarantee data security and allow government departments. Under the supervision and regulation, appropriate commercial development through data analysis can obtain considerable benefits, such as smart parking, smart community, smart medical, smart education, smart tourism and other applications.
Conclusion: The combination of PPP mode and security projects will change the rules of the game in the security industry, and security companies that cannot adapt to changes will be reshuffled. In the security industry, more important than insight into changes is to find the constant behind the changes. When the curtain of the new era of PPP opens, traditional security companies should not only stick to the security field they are familiar with, but also understand the new rules of PPP, use new technologies, combine new models, find new partners, and use new thinking. , So as to get better growth.
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