| The real estate industry has always been the pillar industry of the national economy.It not only promotes the economic growth of our country,but also stimulates the development of many industries upstream and downstream.However,the booming of the real estate industry has also caused a series of chaos such as cornering and profiteering,high house prices and unsatisfactory housing needs of residents.In order to rectify the chaos in the real estate market,the state has issued a series of macro-control policies,such as the purchase restriction policy and loan restriction policy.At the same time,the real estate industry is also facing many prssures like fierce market competition,rising land costs,financing difficulties and other pressures.Under this background,the traditional heavy assets operation mode,which takes land as the core,expands horse-racing enclosure and provides one-stop service of "borrowing-taking-land-development-saIes",is no longer suitable for the development of current real estate enterprises.Many real estate enterprises turn their eyes to the transformation of"Light Assets”to find a new way.Is the transformation of light assets operation suitable for the real estate industry in China?Will the introduction of light assets operation have a positive impact on real estate enterprises?These are all issues worth exploring.Because most of the existing research focuses on the financial performance and financial strategy of light assets operation in real estate industry,this paper chooses the financial risk of light assets operation in real estate enterprises.In the process of research,this paper uses the method of case analysis to select Poly Real Estate as the research object,and explores the changes of financial risk of light assets operation in Poly Real Estate,so as to clarify the impact of light assets operation on Poly Real Estate.Firstly,the paper sort out the concepts and theories related to light assets operation,review and summarize the relevant literature,and then clarify the relationship between light assets operation and financial performance,financial risk,which is to lay a theoretical foundation for interpreting the performance of light assets operation in Poly Real Estate on financial risk.Secondly,the paper analyses the necessity of exploring light assets operation in the real estate industry in detail.Meanwhile,the light assets operation path of Poly Real Estate in recent years is analyzed on this basis.The characteristics of light assets operation of Poly Real Estate are real estate finance and community consumption service.Thirdly,this paper analyses the influence of light assets operation on the financial risk of Poly RealEstate,and the conclusion of descriptive analysis is that the ability of light assets operation to resist the financial risk of Poly Real Estate has been strengthened;In addition,the paper use factor analysis method,select 17 financial indicators reflecting the five aspects of solvency,profitability,operation ability,development ability and cash flow,and then construct a financial risk evaluation model.The result of sub-analysis is that the operation of light assets plays a certain role in resisting the financial risk of Poly Real Estate.Finally,according to the previous analysis,this paper gives the conclusion of this study that the operation of light assets of Poly Real Estate has a positive impact on the improvement of financial risk resistance ability,and the operation of light assets of Poly Real Estate is necessary for further implementation,but in the process of implementation,the choice of operation path of light assets should be in line with its own characteristics.The purpose of this paper is to provide reference for other real estate enterprises to carry out light assets operation through the research of Poly Real Estate Light Assets Operation,and at the same time,to make a modest contribution to the healthy and sustainable development of the real estate enterprises. |
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