Research On The Evaluation Of The Operational Effect Of Light Assets Of Greenland Holdings

With the development of the times and the progress of society,while the national economy has entered the "new normal",real estate companies have bid farewell to the golden decade of continuous growth and entered the silver age.The promulgation of a series of national real estate macro-control policies has a certain negative impact on the sustainable development of the real estate industry.Companies in the industry urgently need to change the status quo through transformation to meet challenges and seek opportunities.Under this situation,some real estate companies have conducted preliminary tests on the asset-light operation model,and whether this test will achieve results requires accurate analysis and evaluation.Greenland Holdings,as one of the leading companies in China’s real estate industry,has also begun to transform into a light-asset operation model,and its transformation effect is the focus of this article.This article first elaborates the background and significance of theresearch,and then summarizes the relevant existing research at home and abroad,and defines the relevant concepts of light asset operation and introduces the theoretical basis.Taking the real estate leading company Greenland Holdings as a case study object in the domestic implementation of asset-light operations,it sorted out the basic situation of Greenland holdings,the advantages and implementation methods of asset-light operations.In order to accurately evaluate the effect of its implementation of asset-light operations,this article established a set of asset-light operation effects evaluation system.According to the financial characteristics of the asset-light operation of the real estate industry and the traditional financial indicators,the indicator system is constructed.At the same time,multivariate statistical analysis-factor analysis and cluster analysis is used to organize and analyze the data.Horizontal comparison analysis of 30 real estate companies including Greenland Holdings,and vertical comparison analysis based on the five-year data of Greenland Holdings from 2014 to2018.It is concluded that Greenland Holdings has achieved significant results in the implementation of asset-light operations,and the company’s solvency,profitability,operating ability,and growth ability have all been improved to a certain extent.However,there are still some shortcomings.It is necessary to promote the construction of diversified financing channels,reduce the asset-liability ratio of enterprises,and optimize theindustrial structure.While increasing high-margin business investment,it is necessary to control the expenses incurred and avoid unnecessary expenses;Due to the decrease in the receivables turnover rate,enterprises should do a good job of accounts receivable management and strengthen their awareness of risk prevention.Based on the evaluation results of the operation effect of Greenland Holdings’ light asset operation,the implementation effect has shown results,which brings experience and enlightenment: The implementation of asset light operation by enterprises must choose the road based on their own advantages;Strong brand value can escort the company’s asset-light operations.National policies have a special influence on the real estate industry.Enterprises need to work hard to enhance their value and actively respond to national policy calls to make profits.