Private Real Estate Enterprises Based On Life Cycle Theory Financing Analysis

In recent years,with the rapid development of China's domestic economy,the real estate industry has gained a huge space for development,which has become the most important part of China's national economy.The development of the real estate industry is related to the stable development of the national economy,as well as the national living standard.The real estate industry is a typical capital intensive industry,with a long operation cycle,a large amount of capital required,and a large amount of early investment.The real estate investment also has certain risks.These characteristics determine that the real estate industry must have sufficient capital and scientific and effective capital operation to achieve stable development.So whether to use reasonable financing to obtain a large number of funds has become the key,but with the introduction of national macro-control policies,all kinds of real estate enterprises that used to take bank loans as the main financing mode are facing huge financing difficulties.The financing difficulties of real estate enterprises have become the most urgent problem to be solved.Therefore,it is of great significance to study the effective financing channels and models for real estate enterprises in different stages of development,and to the steady growth of China's real estate industry and national economy.This paper is divided into five parts.The first part is the introduction,which introduces the research background and significance of this paper,briefly describes the research content and research methods of this paper,combs the relevant literature of enterprise life cycle theory and enterprise financing strategy,and finally explains the innovation and shortcomings of this paper in the research.The second part is the relevant theoretical basis,combing the life cycle theory and enterprise financing theory related to this study,and determining the criteria of enterprise life cycle division,which lays a solid foundation for the following case study.The third part is the case analysis.This paper selects HX Company,a typical representative of privatereal estate enterprises in China,as the research object,introduces the basic situation and development process of HX Company,combs its major events since its establishment in 1998,sorts out and analyzes the financial situation since its listing,and combines qualitative analysis and quantitative analysis to HX Company Finally,the life cycle is divided into three stages: the start-up period from 1998 to 2011,the growth period from 2011 to 2014,and the maturity period from 2014 to now.In the fourth part,this paper analyzes HX Company's financing strategy in different life cycle stages in detail,and analyzes its financing effect from the perspective of life cycle.The fifth part is the research conclusion,through the analysis of the case company,summarizes the characteristics of HX Company's financing strategy in different stages of development,and puts forward corresponding suggestions.