The Influence Of Vanke Financing Structure On Financial Performance

Real estate industry is a typical capital intensive enterprise with a long product development cycle and a long investment recovery period.Its own characteristics make real estate enterprises from the payment of land transfer to commercial housing sales need a lot of financial support to ensure the smooth completion of the entire project.In addition to the source financing,the source financing is external financing.In terms of the amount of financial support,it is not enough to rely only on the source financing of the enterprise itself,so the enterprise needs to obtain financing from outside.Obtaining financing from outside means paying the cost of using the funds.Exogenous financing includes bond financing and equity financing.If the ratio of the two external financing methods is different,the financing structure can be different.The purpose of the enterprise is to maximize value,so we should choose the financing portfolio that can bring about the improvement of financial performance,that is,the lowest weighted average capital cost.This paper selects the financial index of Wanke,the leader of real estate industry,to analyze Wanke's financing structure and financial performance.This paper mainly includes six parts.The introduction introduces the background and theory basis of the thesis,research background and significance,research contents and methods.Conceptual definition and theoretical basis,first of all,the definition and basic theory of financing structure and financial performance are elaborated,and then the relevant literatures are summarized and summarized.The analysis of the financing structure of Vanke Co.,ltd.mainly introduces the basic situation and financing development of China Vanke Co.,Ltd.Vanke company financing structure's impact on financial performance,first of all,this part of the article through to the vanke enterprise profit ability,debt paying ability,operation ability,growth ability of the financial indicator analysis,and then adjusted in integrated analysis of EVA value between 2009 and 2017.Vanke company financing structure optimization and improvement,this part firstly affirms the vanke financing advantages,coupled with the above analysis to identify vanke financing problems,and puts forward corresponding countermeasures and Suggestions.The last part is the conclusion from the paper and the future prospect.Through the research,it is concluded that the reasonable financing structure of vanke makes the financial performance good.Also found that vanke financing structure in an excessive reliance on bank deposits,bank deposits and medium-term loan was high and the problems of slow recovery funds,and puts forward corresponding measures: promoting Banks from creditors to the transition of the shareholders,further broaden the financing channels,and strengthen the capital recovery.Insufficiency and outlook,the article research put forward the deficiency lies mainly in this paper takes the case study method,and the selection of financial indicators is limited,the conclusion does not apply to all enterprises,in the future study,non-financial indicators will also into consideration.