A Case Study On The Asset-light Operation Of Real Estate Group M

Since 2010,with the deepening of China's socialist market economy reform,the real estate industry has entered the development bottleneck period under the influence of the external environment.Since the reform entered a critical stage,the government has promulgated a series of macroeconomic control policies to reduce the real estate economic bubble,which has led to a more obvious development dilemma in the short term.In addition,due to the fact that most of the real estate industry in our country adopts the asset-oriented operation mode in the early stage of development,compared with the asset-oriented operation mode,the real estate enterprises in the asset-oriented operation mode have prominent problems in the proportion of inventory,capital profit and loss ratio,capital turnover rate,income sensitivity and other aspects,which to a certain extent restricts the development of enterprises.In addition,in terms of applicable conditions,as China's real estate market began to transform from product division to factor division,and real estate finance has achieved considerable development,compared with the previous start-up and rapid development stage,it is more feasible to adopt asset light operation mode at this stage.Therefore,in order to get rid of the inherent limitations of the traditional real estate industry as soon as possible,the real estate companies must focus on the new economic development mode to realize the optimization and transformation of the real estate industry structure.This dissertation combs the relevant literature on the research of light asset operation mode,and through the analysis of the concepts of light asset operation and heavy asset operation and the theory represented by the value chain theory,clear the theoretical basis of the research,and lay the prerequisite for case analysis.Then,it introduces the development background of the real estate enterprise,and makes clear the general situation of the research object M real estate company.On this basis,it analyzes the internal environment,external environment and specific measures that M real estate company faces in the process of transforming light asset operation by using case analysis and comparative induction.Then,in view of the measures taken by M real estate company,the paper analyzes the differences between financial performance and non-financial performance before and after the transformation,and analyzes the transformation effect in detail.Finally,combined with the transformation measures and effects,based on M real estate company,this paper provides universal suggestions and prospects for the transformation of the whole real estate industry to light asset operation mode,in order to provide relevant experience and reference for the transformation of other real estate enterprises' operation mode.