Research On Financial Performance Of Light Assets Transformation Of Commercial Real Estate Enterprises

The commercial real estate in China rise in the 1990 s.Compared with residential real estate,commercial real estate is more affected by market demand,and has higher requirements for operation,so it also bears greater market risk.Under the traditional heavy assets operation mode,Although the commercial real estate project can provide stable cash flow when it is mature,the early capital investment is large and takes up a lot of capital in the whole project process.The project has a long fund recovery period,which makes the enterprise bear more and more capital pressure and financial risk.Since 2014,China's commercial real estate enterprises began to transform into light asset operation mode.There are few documents on asset light operation in commercial real estate industry.The existing document of commercial real estate asset light operation mainly focuses on the theoretical overview of the practical path and risk of commercial real estate asset light operation,and lacks the quantitative analysis of the impact of commercial real estate asset light operation on financial performance.Therefore,this paper chooses to study the impact of asset light transformation on financial performance of commercial real estate enterprises,and explore the mechanism of asset light operation on financial performance.Based on the above,this paper takes Wanda as an example.Through the comprehensive analysis of financial indicators,non-financial indicators,EVA and other perspectives,to explore whether asset light business model has a positive impact on the financial performance of Wanda,How does the impact of impact on financial performance reflect,Can other commercial real estate enterprises learn from the successful experience of Wanda ?First of all,combine the current background of China's commercial real estate industry and purpose the research questions.Secondly,take Wanda as a case study :(1)The motive of light assets transformation of Wanda.(2)The influence mechanism of light assets transformation on the financial performance of Wanda.(3)Influence of asset light transformation on financial performance of Wanda.(4)At last,summarize the successful experience and make suggestions for other commercial real estate enterprises.The innovation of this paper is to build the value chain of commercial real estate,combine the business activities of the value chain with the financial performance,build a bridge between the two,build an analysis system from the value chain to the financial performance influencing factors,and then from the financial performance influencing factorsto the financial performance,so as to make the impact of asset light transformation on the financial performance of enterprises more significant Intuitive,but also more conducive to summing up the successful experience of commercial real estate asset light transformation of Wanda business management group.