Case Study On Debt Default Of Blu Ray Development

Our country’s bond market has undergone tremendous changes since the first "super-Japanese bond" defaulted in 2014,and debt defaults have become the norm from just redeemed to the present.Focusing on the entire real estate industry,with the increase in the scale and number of bonds issued by companies,it has also ushered in the peak of bond repayment and repurchase of real estate companies,coupled with the outbreak of the new crown epidemic in 2020,industry sales have slowed down,various strict real estate The introduction of regulatory policies,etc.,has brought serious short-term debt repayment pressure to the real estate industry,more and more bond defaults have occurred,and real estate companies have begun to transition from atypical to typical.The purpose of this paper is to analyze the causes of Blu-ray Development’s debt default,to study the debt default characteristics of my country’s real estate companies,to provide new early warning analysis and policy recommendations for preventing debt default in my country’s real estate industry,and to promote the continued stable and healthy development of my country’s real estate industry.Firstly,it analyzes the overall characteristics of China’s real estate industry,selects Sichuan Real Estate leading enterprise Blu ray development as a research case,and makes corresponding induction and sorting from Blu ray development company’s introduction,rating downgrade,debt default and the impact of debt default;From the macro environment,the real estate industry and the internal governance of the company,we analyzed the specific causes of the default.During the research,we learned that the national financial policies,epidemic and other factors had a serious impact on the debt default of Blu ray development.Secondly,the financing difficulties of the real estate industry year by year have exacerbated the possibility of debt default of enterprises,which is mainly affected by internal factors.We further understand that the main reason why enterprises fall into debt default dilemma is corporate governance.On the one hand,the company has weak internal governance mechanism,aggressive expansion and excessive external guarantee,on the other hand,the company lags behind resources The decline of comprehensive gross profit margin,the substantial net outflow of operating cash flow,the high proportion of inventory and the large scale of restricted assets eventually led to the company’s debt crisis.Finally,some suggestions are put forward from the aspects of bond market system construction,real estate industry and enterprises.The conclusions of the bond market system are as follows:(1)improve the bond market access and exit mechanism;(2)Improve the construction of credit rating risk disclosure and early warning system;(3)Continue to promote bond market connectivity;(4)Establish and improve the early warning mechanism for bond default;The conclusion of the real estate industry is: strengthen the self-discipline of the real estate industry;The conclusions of the enterprise itself are:(1)adjust the company strategy;(2)Improve the corporate governance structure;(3)Optimize the capital structure of the company.Through the study of this paper,we can dig out the deep-seated reasons for the debt default of Sichuan Blu-ray Development,Blu-ray Development as a hundred billion-level housing enterprises have more financing methods,generally there will be no debt default,once the debt default occurs,improper disposal will have a certain impact on themselves and upstream and downstream enterprises,so in-depth study of the reasons for the debt default of the Blu-ray development can play a warning role in the post-epidemic era similar to the debt default risk of Blu-ray development enterprises.