| Since1990s, there are many real estate companies, which constantly adjusted their business strategies in order to maximize their self-instrest.The paper analyzes the financial statements, indicators and elements from2008to2012of Lujiazui Properties and Sunac China.Compare their financial performance, financial policies and financial strategies together with the assessment for the company’s operating strategy, try to give some valuable suggestions on the company future continued development.The article includes seven chapters, detail is as the following:Chapter one:Overview. The chapter first gives a general indroduction of the researched background, review the macroecnomic environment, the related estate policies and the development of Chiese real estate industry, then provides an brief introduction for Lujiazui Properties and Sanac China’s scope of business, history of the company development, main financial datas and capital position, last the basic ideas and frameworks of this study.Chapter two:Financial reports analysis. Further dig the financial situation based on the analysis of the company’s balance sheet, income statement and cash flow statement by using the trend analysis and structure comparision.Chapter three:Financial indicators analysis. Via analysis for profitability, utilization effiency of the assets, assets liquidity, cash generation capacity and performance of the capital market, give comments for the company’s related advantages and weaknesses.Chapter four:Factor decomposition analysis. Decompose and analyze the structure of ROE, g, risk and EVA.Chapter five:Assessment for company’s financial performance, policy and strategy. Give strategically assessement after review and analysis the company’s policies of liabilities, working capital and dividend through reading the financial reports.Chapter six:Financial strategic matrix and policy analysis. Review the company’s development history and management model, company strategy, then analyze and assesse the advantage of the company development. Chapter seven:Conclusion and proposals. Summary the company’s financial situation and strategy, give some proposals based on the conclusion from the analysis and assessement in previous sections.Through the analysis of the company’s reports, indicators and factor decomposition, we found that Sunac China is better in the profitability, assets expanding speed and scale, assets operating effiency, assets liquidity, cash generation capacity, dividend policy,OPM policy, etc. While Lujiazui Properties is better in the structure of assets, dete and equlity, anti-risk ablity and gross margin, it has significant advantage in business strategy.In view of the situation, as for Lujiazui Properties, I wish to make the following proposals:Strengthen cash flow management and operating management, improve circulation of assets, increase tempory debit and adjust of devident policy. As for Snanc Chian, the following proposals would be provided:Strengthen cash flow management, increase owner’s equlity, concern operational risk and financial risk, keep the high effiency of assets operating and improve the company’s business model. |
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