Research On Analysis And Optimization Of Debt Structure Of H Group

As a capital-intensive industry,capital is blood in the real estate industry.Since it has a long construction duration and slow return of capital,it is difficult for the real estate industry to complete all project development with its own capital alone.Debt financing is an important way for real estate enterprises to raise funds in the process of development,construction,operation and development,but the transitional debt will affect corporate efficiency and increase the pressure of debt servicing,which requires real estate enterprises to pay close attention to the way and amount of funds acquired and reasonably control their debt structure in the process of project development.With the intensive national macro-control of the real estate industry,the debt problem of real estate enterprises has attracted attention from all walks of life,and a reasonable debt structure is related to the profit and loss and sustainable operation of real estate enterprises.This paper further verifies the applicability of MM theory,trade-off theory and signaling theory,theories related to debt structure,to real estate enterprises through an in-depth analysis of H Group’s operating condition,financial condition and debt structure.In-depth research and analysis of the problems and optimization suggestions of the debt structure of the real estate industry are conducted,especially the impact and optimization of the debt source structure and the debt term structure are more detailed than previous studies.Firstly,this paper analyzes the debt structure of H group from three aspects: overall debt scale,debt maturity structure and debt source structure,and further compares it with the average value of the real estate industry and the relevant data of listed companies with different profitability in the same industry.It is found that H group has the following problems: high debt scale,high proportion of current liabilities,high pressure of financial debt repayment,and single financing channel.Secondly,the causes of the problems are analyzed: high leverage expansion leads to high debt ratio;high commercial credit leads to a high proportion of current liabilities;high financing costs increase debt repayment pressure;macro policy limits financing channels.Finally,the improvement direction and specific optimization countermeasures of H Group’s debt structure optimization are given:strictly control the proportion of debt and equity,rationally plan the proportion of debt structure,flexibly use commercial credit financing,strengthen the management of bank loans,and broaden diversified financing methods.The research of this paper not only provides a new direction of debt structure optimization for the management of H group,but also provides some reference for other real estate enterprises.