Research On The Optimization Of Capital Structure Of Real Estate Listed Companies In China

The capital structure is a comprehensive manifestation of the relationship between various sources of funds and the proportion of the enterprise.The core of capital structure optimization is to enhance corporate value.As a pillar industry of my country's economy,the real estate industry has obvious industry characteristics,that is,it is easily affected by the external environment,has a high asset-liability ratio,and uses bank loans as its main financing channel.Currently,due to the macroeconomic downturn and continued government regulation of the real estate industry,real estate companies are facing an unprecedented and severe external environment.This paper studies the influencing factors and realization paths of capital structure optimization of my country's real estate enterprises,and takes Xincheng Holdings as an example to try to make recommendations for optimizing the capital structure of real estate enterprises and for balancing development and risk control.This article has certain practical application value.First of all,through the collation of the research on the influencing factors of corporate capital structure and the optimization of corporate capital structure,with the goal of maximizing corporate value,the optimization plan for the capital structure of listed real estate companies is proposed from both dynamic and static aspects.Secondly,taking Xincheng Holdings as the research object,the company's capital structure is introduced from the basic situation,asset structure,financial status,financing situation,debt structure,etc.,and then from the three aspects of asset structure,equity structure,and solvency.The industry conducted a comparative analysis and found that the company has problems such as irrational asset structure,high concentration of equity,limited solvency,low use of derivative financial instruments,and hidden risks in its business model.Finally,based on the optimization program obtained through empirical analysis,combined with the current situation of the capital holding of the New City,the optimal capital structure interval was determined to be [66%-74%].It can be seen that the optimal capital structure is a dynamically changing process,and enterprises should continue to pay attention to their equity structure,asset structure,short-term solvency and profitability.