Research On Financial Risk Management Of Y Real Estate Under Asset-light Transformation Mode

In today’s rapid economic development in our country,the real estate industry is no longer in the era of profit growth only relying on the increase in market size and housing price rise.The rapid change of economic times has put forward new requirements for the transformation and upgrading of real estate enterprises,and the transformation of real estate enterprises is imminent.Under the macro background of national regulation and control policies,many factors,such as "housing is not speculation" and difficulty in acquiring land,lead to the backlog of commercial housing inventory of real estate enterprises,increased difficulty in capital turnover and increased financial risks.Therefore,the transformation mode of asset-light operation of real estate enterprises arises at the historic moment.This paper takes Y Real Estate Company as the research object.After its listing,Y Real Estate Company began to explore the asset-light operation mode,and its market size and operating income further expanded.After a short listing time,Y Real Estate company soon became a high-quality real estate company in China.Through the identification,evaluation and prevention of the financial risks faced by Y Real Estate,it is of great significance to promote the implementation of the asset-light operation mode of enterprises and improve the ability of financial risk management.This paper first combed the light assets operating mode and the enterprise financial risks related literature,with the value chain theory,financial risk management theory and enterprise core competition theory as the main theoretical basis.This paper expounds the Y real estate assets light the causes and ways of operation mode transformation,from the financing risk,investment risk,operational risk,cash flow risk for aspects of enterprise financial risk identification,The financial risk evaluation index system is constructed,and the financial risk is evaluated based on entropy weight TOPSIS method.The financial risk evaluation results of Y real estate are as follows:After Y real estate starts the transformation to the asset-light operation mode,the trend of financial risk becomes smaller.However,after several years of transformation,Y Real estate is faced with new financial risks such as overstocking of commercial housing and increasing costs.Finally,it puts forward corresponding financial risk prevention suggestions from four aspects,such as vigilance against asset structure change,increasing supply chain control of cost,expanding financing approaches and updating financial risk evaluation system.