The Light Asset Management Mode Of Real Estate Enterprises:Transformation And Performance Evaluation

In the past,the real estate industry used a heavy-asset operating model.From investment,construction,and operation management,companies completed their own profits on their own.However,long-returning long-paying returns have caused companies to face enormous financial pressure.With the rise in land prices,industry upgrading and increasingly fierce competition,their profits have continued to fall.The central bank's 2017 statistical report pointed out that the slowdown in the growth of real estate loans indicates that the era of real estate asset-light assets is approaching.Many real estate companies have learned the successful experience of foreign real estate companies and carried out light asset transformation.The core idea of the light asset operating model is that companies concentrate their advantageous resources and obtain more profits with smaller inputs.Real estate companies do not have to be responsible for all aspects of their own,they are often responsible for the highest value-added links such as brand output or operations management to get the most benefit.Whether China's real estate companies are suitable for transformation of light assets,heavy asset operating mode transformation,which economic consequences will be brought by light assets,and whether it is conducive to the development of the enterprise,these problems need to be resolved urgently.This article uses the literature analysis,case analysis and financial analysis,through the introduction of the concept of light and heavy asset operating model and the domestic real estate business environment and predicament,a case study of the real estate leading enterprise Wanda Commercial Properties Co.,Ltd EVA and financial ratios are used to analyze its 2012-2016 financial data and compare with companies of different nature in the same industry.Research and analysis found that: After the transformation of light assets,Wanda Commercial Properties Co.,Ltd's economic value added remained stable despite the property downturn;assets and income structure were optimized and business risks were reduced;solvency and profitability were steadily improved,and the quality of income was significantly improved.rise.This article through the financial perspective of Wanda Commercial Properties Co.,Ltd transformation of light assets case study,analysis of the economic consequences of the transformation,to explore the transformation of the implementation of the strategy for the transformation of other real estate companies can provide valuable lessons for reference.