Financial Performance Analysis Of Country Garden's Transformation To Asset-light Operation Mode

The real estate industry is an important industry in China,which is closely related to the people's living standard.It has an important impact on the country's fiscal revenue and expenditure,and occupies an important position in China's economic structure.In recent years,the development of real estate enterprises has been greatly reduced.Second,the rapid increase in land prices and the decline in profit margins;Third,sales are down and competition between companies is getting fiercer.Transformation,so more and more industries and enterprises began to try to phase in the light of the asset-like development model,while the real estate industry of China vanke,wanda,greentown,lang poem green and pattern in enterprise,in reference to learn some foreign advanced enterprise transformation process,take the lead in the domestic asset light transformation of exploration,and achieved some results.In order to explore the development of real estate enterprises better future,this article adopts the method of case study for light asset operation mode were analyzed,and the country garden as the case enterprise,explore the transformation of country garden light of assets operation mode and path,country garden's financial performance before and after the transformation,analysis of light asset operation mode and the relationship between the corporate performance,hoping to provide some experience for other real estate enterprises.Country garden is a well-known comprehensive real estate enterprise group in China.In 2015,country garden formally proposed the transformation of asset-light operation mode,and today it is still in the stage of continuous trial and adjustment.Therefore,this paper analyzes the reasons and paths of country garden's transformation and its financial performance to judge the scientific nature of country garden's strategic decision on the transformation of its asset-light operation mode and whether the transformation of country garden into asset-light has a positive impact on the performance of the enterprise.In this context,this paper is described in sections in the following order.The first part is the introduction of the article,covering the research background and significance of the asset-light operation mode of real estate enterprises in transition,the main research content and research methods adopted in this paper,and some theories and literature on asset-light operation mode at home and abroad.The second part introduces the concept of asset light and the theoretical basis of this paper,including the concept of asset light,the overview of asset light operation model and the concept of financial performance.Then it introduces the three theories based on which this paper is based,namely,the theory of division of labor,the theory of smile curve,the theory of value chain and the relationship among the three theories.The third part introduces the current situation of China's real estate enterprises in the transformation of asset-light operation mode,summarizes the four modes,and takes vanke,greentown China,color life and wanda as examples.The fourth part describes the financial statement characteristics of country garden's asset-light operation model.The fifth part introduces the motivation and path for country garden to transform its asset-light operation mode.The sixth part is the financial performance analysis of the case enterprise.Firstly,dupont analysis method is used to decompose the indicators one by one,and then analyze them one by one.Then,factor analysis method is used to reduce dimensions,rotate,find the common factors,and assign weights to the common factors,so as to obtain the comprehensive performance of the enterprise.The seventh part of the research conclusion,suggesting that the country garden light measures taken,and assets operation mode transformation light asset operation mode has a positive influence on firm is concluded that the final against light assets operating model of defects and country garden itself some problems puts forward some Suggestions for reference,the last is about the article deficiency and their future prospects for real estate enterprises are put forward.This paper mainly adopts three research methods,which are literature research method,case study method and comparative analysis method.The literature mainly comes from various academic websites,including China real estate enterprise association website,Oriental fortune website,website of China bureau of statistics,official websites of various enterprises,etc.The case selected country garden holdings co.,LTD.,a representative company with rapid development at present.The financial data of country garden from 2012 to 2017 were selected for vertical comparative analysis,and the overall data of the industry and the data of sunac China,a real estate enterprise,were added for horizontal comparative analysis.Through the analysis of this article,hope to have further knowledge of light asset operation mode and understanding,further enrich enterprise,light asset operation of related research,at the same time also hope that this article analysis can bring certain reference value to country garden management,more hope for preparing light asset operation mode transformation and is in the transformation of the same industry enterprises bring certain reference significance.