Research On The Transformation Of Light Assets In Real Estate Enterprises

Has been used in China's real estate industry is a heavy asset management mode,key operation mode of heavy assets gains is the land value,and lower the cost of land in 1990 s,this mode of operation is to help the real estate industry through the development of the gold for 10 years.However,with the change of government policy and economic situation,China's real estate industry is also faced with rising land costs,financing difficulties,financial risk is high and other practical problems,can be said that the asset value is not enough to make up for the cost of capital,assets of the traditional model has not adapt to the real needs,in this context,change the choice of operation mode of many enterprises,try to asset light transition.The asset light business model advantage is,to reduce their own resources through the use of the resources of others,so that it can be the enterprise internal resources into profit chain in higher stage,build the core competitiveness of enterprises,and ultimately ease the plight of enterprises,enhance the value of their own goals.This paper is based on the Vanke asset light transformation as the research object,firstly analyzes the motivation of Vanke transformation,but also to explore the feasibility of Vanke transformation,then analyzes the Vanke asset light transition path is the main path to the small stock trader of the cooperative development model,also taken some other paths,such as financial channel innovation,business partner system implementation etc..In addition,this paper analyzes the effect of Vanke light assets transformation from a financial perspective,including three aspects: financial characteristics,financial indicators and EVA evaluation.We can say that Vanke's light assets transformation is relatively successful.Based on case analysis,the last part is the conclusion and puts forward relevant suggestions,the asset light business model can be said that the real estate enterprises is more rational and realistic choice,but also need to consider the transformation of enterprises to choose their own conditions,only the brand construction,operation management,capital operation,etc.the ability to reach a certain height to choose the light asset restructuring,the transition path should be specific and comprehensive,and reasonable experience,step by step,so as to achieve the success of the transformation.I hope that through this study,we can provide a certain reference value for the real estate enterprises in the transition or transition of intentional light assets.