The Analysis And Prospect For Poly Real Estate Business Model Based On Financial Perspective

After the financial crisis in2008,the rate of economic growth becomes slower,and the real estate industry has also embarked on the slack situation of the development speed. At the same time, the state promulgated the land acquisition, financing channels, price of the purchase and a series of related policies for the real estate industry. Under the tighten macro background conditions, many real estate enterprises change their business model to find a broader, more widely ways, Poly Real Estate as Chinese residential real estate brands, has their own unique business model.This paper analyzes the Poly real estate special operation mode through the financial data.Management theory and financial analysis theory is a basic research method of this paper, Firstly, According to them,“American mode”and “Hong Kong model” which have an impact on the real estate industry, are introduced. By comparing the two management modes. find out the remarkable differences between them."America mode" is taking the specialization, popularization and returning to financial capital operation as the core, is a horizontal operation chain."Hong Kong mode" is taking the vertical operation chain by a developer performing” home‐Development‐sell" model, pay attention to the land reserve, the fast pre‐sale threshold low capital steam again and more developers rely on bank financing. Secondly, it introduces the financial analysis, combine the financial data with the business model to find the existing relationship, and analyze the "operational characteristics of America mode" and "Hong Kong model" by using the objective financial data from four aspects respectively: development mode, capital mode, operation mode, the development model to conclude the relationship between financial data and management mode. Finally, by analyzing the financial data from Poly Real Estate, we can draw a conclusion of the unique business model of Poly Real Estate.Poly Real estate not only has the characteristics of "home‐Development‐sell" longitudinal operation chain in "Hong Kong business model ", the degree of financing deadline and financing channels and cash management, but also possesses the feature of business location, business scope, financing efficiency, cost management, fund management and sustainable development in "America business model", Based on the above points, we can come to a conclusion that Poly Real Estate’s unique business model is a versatile developers owning "USA characteristics". Poly Real estate cost management and financial management is worth learning for other Real Estate Company, especially in the low rate of operating and the cost, and the rate of financing efficiency is high when the financing risk exposure rate is safe. However, there are also shortcomings in Poly Real estate, They hold the principle “the more, the better” in the land reserve, which may lead to the asset turnover ratio of poly real estate slower than Van K e Real estate.From the view of the sustainable growth rate, Poly Real estate is taking the "high return and high retained" line, This route leads to the sustainable growth but the rate of growth has slowed, In the past two years,the rate of Van Ke Real estate has surpassed Poly Real estate. In the case of China’s policy of real estate locking, Poly Real estate should change the management mode, and puts forward the management model of the proposed changes: the principle of Poly Real estate land reserve should be from the "The more, the better" to "good enough" and finish the change in the business model to improve the retention deposit ratio coefficient in the sustainable growth rate.