The Study On Risk Assessment And Management Strategy Of A Real Estate Development Enterprise’s Capital Chain

The real estate industry is a national pillar industry that is related to the development of the whole society and is closely related to everyone’s life.In recent years,governments at all levels have issued a series of policies to regulate the real estate industry.In particular,with the formulation of the policy of “staying and not speculating”,the financing methods and sales operations of real estate development enterprises have been greatly affected.In 2017,the integration speed of the real estate industry accelerated,and the issue of capital chain security became a key issue for real estate development companies.For real estate development enterprises,financing is the beginning of the capital chain,and also the premise of enterprise development projects.Only when sufficient funds are secured,can enterprises smoothly carry out various economic activities.From a macro perspective,it is found that the real estate development industry has a large amount of capital investment,a single financing method,a small source of funds,a long-time occupation,and a large impact on policies and regulations,and there is a potential risk of capital chain breakage.Taking A real estate development enterprise as an example,this paper evaluates the risks of A enterprise financing stage,capital use stage and capital return stage through Z-score model,efficiency coefficient method and financial indicator system analysis methods.The financial indicators are not as good as the industry average.In the financing stage,there are problems in the unreasonable development of the financing structure,the financing situation is affected by the policy,and the solvency is weak.In the use stage,there are low efficiency of capital use,poor liquidity of assets,and high costs.The problem;in the return phase of funds,there are problems of low profitability and weak growth ability.These three stages of the problem are likely to further trigger the risks of the capital chain,causing the financial crisis of the A company.These three stages of the problem are likely to further trigger the risks of the capital chain,causing the financial crisis of the A company.According to the analysis conclusion,three management strategies are proposed.First,A enterprises should focus on expanding diversified financing channels,establishing the depth and breadth of cooperative development mechanisms,and avoiding policy risks in the financing stage.Second,establishing an enterprise risk early warning mechanism,strengthening the overall corporate budgets,and strengthening the projects during the fund use phases.The whole process of risk management and control,broaden the field of enterprise investment,and reduce the costof land development;third,in the return phase of funds,it should speed up the turnover of funds and inventory liquidity,formulate a reasonable marketing plan,and formulate a preferential housing payment plan.