Research On Gemdale Group's Business Performance Evaluation System Based On DuPont Analysis System

In 2017,the real estate industry appeared polarization in the hot city and three or four line city,the house of hot city is in short supply,the government play macro-control to it,the president Xi Jinping has called for "the house was used to live,not to fry",but the house of three or four line city is oversupplied,the property market is downturned,so the government's policy is destocking in the three or four line city".With the government's intervention in the property market intensified,the real estate market has showed obvious uncertainty.Golden group was founded in 1988,the company's main business is real estate development and sales,in 2016 it has steped into the ranks of sales of 100 billion for the first time,which is one of the leading enterprises in the real estate industry.In this context,using a sound and reasonable operating performance evaluation system for real estate enterprises to carry out objective and true business performance evaluation,to achieve sustainable development of the enterprise is of great significance.The traditional DuPont analysis system combine several ratios which can make evaluation of business conditions to form a complete index system,which is clear and organized.so DuPont analysis system is widely used in enterprise performance evaluation in prominent.However,with the development of times,the traditional DuPont analysis system reflects many disadvantages.It is necessary to improve it so that it can be better applied to the evaluation of modern enterprise performance.First,this paper describes the research background and so on,the author collects the domestic and foreign literatures about the DuPont analysis system,summarizes the research and reveals the shortcomings of the traditional DuPont analysis system.Secondly,this paper discusses the improved DuPont analysis system and its application.In the improved DuPont analysis system,this paper adds the analysis of non-financial indicators,namely using the Potter five forces model and strategic analysis of the enterprise,introduces the sustainable growth rate index,increases index to reflect the enterprise's ability to pay the dividend,distinguishes business activities and financial activities,and makes full use of the cash flow statement.Besides,the improved DuPont analysis system is combined with the financial strategy matrix,which has changed the simple pursuit of earnings growth in the before performance evaluation and make financial strategy which is conducive to sustainable development of enterprise.Finally,apply the theory into practice,make industry analysis of the real estate of Golden group,and the improved DuPont analysis system combined with the financial strategy matrix is applied to the group performance evaluation,we found that the improved financial analysis system can fully and truly reflects the business situation of enterprises through the comparative analysis.In conclusion,this paper improves the traditional DuPont analysis system based on the previous research.This article in view of the traditional Dupont analysis system lacking of sustainable development capacity analysis,dividend payment ability analysis,and cash flow analysis,conduct research on the improving of traditional Dupont analysis system and combine the industry analysis and financial strategy matrix to build a set of relatively complete business performance evaluation system.