Research On The Financial Risk Of Wanda Commercial Real Estate Strategy Transformation

Real estate industry has always been the pillar of the national economy,but in recent years China's real estate industry downturn,the real estate investment demand peak has been history,real estate funds into large,long payback period,less liquidity,combined with the instability of the market,the real estate enterprise financial risk rising.Wanda commercial real estate,as the leading enterprise of commercial real estate in China,launched the strategic transformation of light assets in 2015,which aims to reduce its financial risks and alleviate financial difficulties.In this paper,using literature analysis,case analysis and financial analysis,through the introduction of the concept of asset light strategy transformation,wanda commercial real estate as the research object,from the point of view of narrow sense of financial risk analysis of wanda commercial real estate strategic transformation and the internal mechanism between the financial risk.Studies have found that light at the core of their strategic transformation advantage is to optimize the assets structure,improve the operating efficiency of funds,improve profitability,and reduce the financial risk of the enterprise,but through the transformation of asset light strategy,wanda commercial real estate is a certain extent,improve the enterprise's profit ability,but fails to reach the purpose of optimize the assets structure,improve the operating efficiency of funds,there is still a enterprise profitability of equity capital owners risk and the risk of insolvency.Then,from the perspective of financial leverage,this paper analyzes the risk factors of the decline of equity capital owners' equity in wanda commercial real estate.Second,capital operation efficiency is low;Third,the asset-liability ratio is high.This paper analyzes the reasons for the debt repayment risk of wanda commercial real estate from the point of view of capital chain: one is the insufficient cash flow of operating activities;Second,narrow financing channels;Third,there is a great deal of short-term debt.Finally,the improvement measures are put forward according to the cause of risk: firstly,the proportion of light assets is increased,and the asset structure is optimized.Second,to improve the operation efficiency of capital;Third,improve the profitability of enterprises;Fourth,optimizing capital structure and diversifying financing channels;Fifth,we will reduce the size of our debts and properly control our liabilities.