| In the past decade, the Chinese real estate enterprises achieved leapfrog development, and the impact on people’s lives is more and more obvious.China has become an important basic industry of the national economy. The rise and falling of China’s economic development is closely linked to the real estate industry, and its importance is self-evident. But the characteristics of the real estate business is only based on a lot of money on supplies to stable and sustainable development, so the real estate capital structure is essential. The company’s capital structure is reasonable and is closely related to the company’s survival and development, decided that the company’s lifeblood, reasonable capital structure better able to maximize corporate value and enhance their own competitiveness, it is apparent to explore the company’s capital structure optimization problem is great significance. The real estate industry is a capital-intensive industries, a large demand for capital, and always has been funding the real estate company headache, in reality, there are many real estate companies due to severe cash flow problems led to the closure of the case company, so real estate companies must pay attention to the issue of capital structure, ownership structure and debt structure to optimize the company’s capital structure to ensure it is safe and reasonable. I expect happiness to the Chinese capital structure research, to give happiness and even to optimize the capital structure of the Chinese real estate industry, providing an important idea.In this paper, the optimal capital structure and capital structure theory as the guiding basis, China Fortune Land Development Co., Ltd as the research object, Comparative Analysis on the capital structure of Chinese companies through horizontal and vertical happiness, happiness China pointed out the existence of a surge of capital structure single large, single-source structure and debt maturity structure of debt problem of irrational. After combining the actual situation of China happy company analyzes its capital structure is irrational reason, we design a complete set of Chinese happiness capital structure optimization program, first of all, while adhering to the minimum average cost of capital, risk control and operational principles Under clear program objectives and ways to implement the design, and then combined with industry characteristics and China Fortune own situation, specific measures were designed China Fortune Land Development Co., Ltd about the ownership structure optimization and debt structure optimization. Finally, in order to guarantee the optimization scheme can be implemented successfully, this paper proposes a four-point security measures, improve the feasibility of the program. |
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