Research On Financing Problem Of HD Group

With the rapid and sustained growth of China's national economy and the acceleration of urbanization process,China's real estate enterprises have achieved rapid development,and they are in pillar status in the national economy.Real estate development investment cycle is long,large,expensive real estate value leading to the characteristics of the amount of money in real estate development,investment needs huge,making financing become the real estate developers are most concerned about the problem.However,it is necessary to point out that the real estate financing system in China has not yet been stable and standardized,and there is no financing mechanism suitable for the development of the market economy and the real estate development and consumption compatible with the national system policy.How to broaden the commercial real estate financing channels,innovative financing methods,in order to alleviate the pressure of their capital demand,so as to speed up the pace of adjustment of China's commercial real estate financing structure,and ultimately achieve the healthy development of the real estate industry has become an urgent need for in-depth study of the subject.Based on the above background,this paper selects the HD real estate enterprise as the research object,combining theory and practice,starting from the actual situation of HD company,in order to provide a feasible financing strategy,fundamentally improve the level of financing,it also provides a reference for other industry enterprises.The main research of this paper is divided into five parts:The first chapter,introduction,introduces the research background and significance,research status at home and abroad,the main research contents and methods,as well as the technical route and the innovation of the article,which leads to the research problems.The second chapter,related theories of this thesis analyzes,first is the definition of related concepts of enterprise financing,including financing definition and significance;secondly,the influencing factors are analyzed,including financing costs,financing structure,financing risk and policy factors;thirdly,the main financingchannels of enterprises are introduced,which are divided into endogenous and exogenous financing;finally,the relevant theories of enterprise financing are discussed: MM theory and tradeoff theory.The third chapter introduces the financing of China's real estate companies include: corporate loans,housing prices and financing a huge amount of funds,the market is the key factors of financing housing prices and financing of housing prices is affected by policy factors,and puts forward the problems existing in the development mode of China's real estate enterprises,the main problems are: financial leverage,housing prices financing there is a certain risk,housing prices difficult to return funds,credit tightening led to relatively difficult financing of housing prices.The fourth chapter of the HD group financing is analyzed,mainly from the enterprise introduction,capital requirements and operational capacity,financing status and existing financing problems are analyzed,the problems include: the excessive reliance on bank financing,debt financing ratio is too high,the current liabilities to total assets liabilities ratio is too high,the proportion of direct financing is lower and higher financing costs.The third,fourth chapter analyzes the problems of the study.The fifth chapter is to solve the problem,based on the previous series of research,put forward relevant suggestions for improvement,the proposals include the following aspects: HD group internal financing channel and structure,and the structure of financing channels,core measures of real estate development project financing risk management,and improve the financing problems of the current HD real estate solutions,so as to improve the financing capacity of HD group,the level of financing to achieve overall optimization.