| The central economic entity meeting held in December,2016 pointed out to list the revitalization of the entity economy into the supply side structural reform,clear to insist the center of improving the quality and core competitiveness,adhere to drive the development with innovation,expand the high-quality product and service supply.This is undoubtedly favorable news to further promote the development of real estate industry.As the carrier of industrial agglomeration,the industrial real estate is not only a spatial bearing form for regional economic development and industrial adjustment upgrade,but also a sign to measure the social and economic development level in the region.It bears the important mission to cluster the innovative resource,cultivate the emerging industry and promote the construction of new urbanization.Different the traditional real estate industry,the industrial real estate is different on the internal and external environment in the industry,member composition,value logic and business development mode.Currently,it is still in the development turning point in the country.Conducting the financial performance analysis on the industrial real estate industry has certain significance to learn from and promote the industrial development among the peer enterprises,and it can analyze the enterprise management quality,improve the enterprise management efficiency and promote the management ability.The paper selects CFLD Foundation Co.,Ltd.(hereinafter referred to as CFLD),a leading industrial real estate enterprise as the case for financial performance analysis,makes the systematic analysis on the industrial real estate industry via the perspective of commercial ecosystem,mainly researches the financial performance of CFLD in 2015,reveals the change trend of financial status and management result from 2011 to 2015 in CFLD;Finally,it proposes the suggestions for the future development of CFLD according to the obtained research conclusions.The main research conclusions in the paper are as follows:(1)The net profit in CFLD has rising in successive years in terms of profitability.For the structure,the proportion of investment gains is lower,and it mainly comes from the core business in industrial new city.The enterprise is in the rapid-development period,and it has a powerful competitive advantage in the field of industrial real estate.(2)Although the asset-liability ratio has reached 84.8%,the ratio of enterprise's current asset on the total asset is 91.2%,the commercial creditor's right and stock are very high with powerful circulation and liquidity,and there is no occupied bad assets.The enterprise has a favorable financial environment,powerful short-term solvency and long-term financing ability.(3)The support of cash netflow produced in the enterprise management for the profit is not enough,it mainly comes from the entrusted area,the investment on land consolidation and infrastructure investment is larger,and it leads to the comparatively tight cash flow,higher financial leverage,and the risk control shall be strengthened.According to the research conclusion,it proposes several suggestions for the future development in CFLD:(1)Improve the operating cash flow,control the expansion pace,realize the mutual matching between the development investment and operating cash flowing scale in the entrusted region,and focus on the application of infrastructure and other asset securitization.(2)Control the investment risk,establish the investment management system and evaluation mechanism adapting to the business development,avoid the systemic risk,and ensure the investment return.(3)Reduce the administrative cost and control the administrative expense.Comb the internal management process and system,and realize the sharing management at each business level.Strictly implement the budget management on the regional branch.. |
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