Vanke's Transformation Of Light Asset Operating Model Case Study

With the complication of China's economic environment and increasingly fierce competition in the industry,demand in the real estate market decreases and supply decreases accordingly,making the supply and demand unbalanced.Therefore,at present,China's real estate companies are facing a severe test.In addition,the government has stepped up macroeconomic policies to control the growth of land and property,slowing down and even stagnating,and increasing corporate capital costs.Since the start of our real estate industry,Real estate companies learn from the operating model of Hong Kong real estate companies,that is,heavy asset operating models characterized by heavy assets.The profits of real estate companies come from all aspects of the real estate chain,that is,from the investment,construction,sales to management of the industrial process.Under the current market environment,the heavy asset operating mode is no longer feasible through land reserves and ways to earn value-added assets.Real estate companies constantly try to innovate to break through the predicament of heavy asset operating mode and achieve stable development of the company.Taking the real estate company in the United States as a successful example,China's real estate companies began to transform their light asset operating models.Under the asset-light operating model,real estate companies reduce investment in development and operation,and project funds are jointly provided by the general public or partners.Through its own advantages,such as brand effects,planning and design capabilities,it is mainly responsible for the important links of the industrial chain,and as the integrator of the entire process,it can achieve more benefits while reducing investment.At present,some large and medium-sized real estate companies in China have transformed their light asset operating models.Referring to the relevant literature,details the definition and characteristics of the asset-light operating model and the way to evaluate the transformation performance.Secondly,it introduces the development status of the real estate industry,analyzes the causes of transformation,and introduces the current four ways of real estate companies' asset-light operating modes and the ways in which different real estate companies transform.In the case analysis section,Wanke was the object of study and introduced the development history of Vanke since its establishment.It has changed from a diversified operation stage,a specialized operation stage to a refined operation stage to a conceptual realization,and a diversified layout.Analyzed Vanke's transformation of light asset operation mode has the portable purchasing mode,focusing on innovation,management capabilities,property management,brand reputation five core advantages.Describes Vanke's transformation strategy from the perspectives of the development of small-cap trading methods,business partner system,diversification of light asset business,and real estate financialization.Through financial index analysis method,EVA model to evaluate its transformation effect.