Research On Financing Structure Optimization Of Greenland Holdings

The process of urbanization is following the rapid development of our national economy,and it has ushered in another important development opportunity for our real estate industry.Over the years,The market of finance's environment in China is changing,real estate enterprises are constantly rich in sources of funds,and financial supervision has been eased for a long time.Banks have been lending to enterprises in a tight way.The large scale of capital demand in the real estate industry is deeply affected by the National economic policies,and enterprises still face financing difficulties.In particular,for real estate enterprises that have been injected with stateowned funds,the Central Government has continuously strengthened its supervision over state-owned enterprises' deleveraging,debt reduction and risk prevention after the 19 th National Congress.In 2017,the SASAC issued ?the Guidance on Risk Prevention for Central Enterprises' Leverage Control Liabilities.? In 2018,?the Guidance on Strengthening the Constraints on Assets and Liabilities of State-owned Enterprises? was promulgated.As a result,the external financing of state-owned real estate enterprises has been strictly controlled,which has affected the choice of financing channels for enterprises to some extent and brought new difficulties to their development.How to help state-owned real estate enterprises avoid the defects of the traditional financing model and construct a good enterprise financing structure,we must rely on scientific analysis to obtain the optimal financing structure plan,help enterprises to achieve faster and better development,and control the asset-liability ratio to prevent financial risks.This paper studies the research results of domestic and foreign real estate enterprises financing by using early capital structure theory,MM capital institution theory,new capital structure theory,etc..Through an in-depth analysis of the financial data and financing situation in the three years since Greenfield Holdings was listed on the backdoor market,it was found that Greenfield Holdings had weak endogenous financing capabilities,continued high asset-liability ratio,and unreasonable debt structure.The reasons include macro policies and The market of finance's reasons.What is more important is that the enterprise itself has excessively diversified business and lacks new profit growth points;The financing management mechanism is not perfect;The fund gap is large and the financing strategy is radical;There are four reasons,such as the single financing channel and the lack of utilization of new financing channels.Aiming at the problems existing in enterprises,by forecasting the funds needed by enterprises in the next year,we use AHP to establish a financing structure scheme model and quantitatively design an enterprise financing structure scheme.In the process of financing,the enterprise needs to have a definite scope for the ratio of different financing methods to the overall financing structure in the next year.It also needs to compare the assets and liabilities before and after the implementation of the financing structure scheme to ensure its feasibility.Finally,five safeguard measures are proposed to ensure the smooth implementation of the financing structure program.This paper analyzes the problems existing in the financing structure of Greenfield Holdings and puts forward corresponding solutions.By calculating the best financing structure of the enterprise in the next year,it provides a reference idea for the enterprise to rationally determine the financing structure and gradually reduce the asset-liability ratio.In order to effectively ensure the sustainable and healthy development of enterprises,it can effectively evade the SASAC's early warning and control of the high asset-liability ratio of Greenbelt holdings.