| For the real estate developers,the traditional real estate development mode has been unable to meet the needs of most real estate enterprises to balance scale and profits.For the most of real estate enterprises,they will choose to reduce the proportion of the real estate sector,actively seek to transform and upgrade,so as to drive the overall business performance of the enterprise.In 2014,pattern year's property management subsidiary Choi Life listed,the market value catch up the parent company and took the lead,it attracted the attention of major real estate companies with its bright annals.After successfully made a fortune,the property management,once regarded as without development potential,has led a new way for diversified financing of real estate enterprises,Vanke,Poly,country Garden and other large developers have the intention to enter the property Blue Sea.Under the background of the industrial development,real estate companies are faced with many opportunities and challenges,and face various evaluations.The case studied in this paper is Zhonghai property,which is the second property management company to be listed in Hong Kong after Caixun successfully went to Hong Kong to spin-off up and list.Different from the previous operation of listed enterprises in Hong Kong,Zhonghai property has adopted the way of introducing listing and physical distribution,but it still belongs to the operation mode of spin-offting up and listing.At the same time,more and more real estate enterprises show a tendency to choose the spin-off way to go public.Based on this,this paper hopes to further understand the real estate enterprises in the current industry background through the systematic analysis of the case.The choice of spin-off listing can bring benefits to the financial performance of subsidiary companies,hoping to provide reference for other companies seeking property listing,and enrich the relevant theory of real estate spin-off property listing.This paper adopts the methods of literature review,theoretical research and case analysis.Chapter 1.From the research background and significance of the topic,through reading and summarizing the relevant literature review,determine the research issues in order to better complete this paper.Chapter 2Introduced this case company China overseas property holdings Ltd.,the basic situation and the process of spin-offting and listing,for the following case analysis.Chapter 3As the core content of this paper,the characteristics,motivation,changes of financial indicators,and business model before and after the break-up of China Shipping property are analyzed in turn,and it is concluded that the spin-off listing has a positive impact on the overall financial situation of China Shipping property.Chapter 4Draw the conclusion of this paper,at the same time,for other real estate companies seeking to spin-off property listing and reference,in order to promote the healthy development of real estate enterprises in China. |
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