A Study On The Operation Performance Of Real Estate Asset-Light Industry Based On Dupont Analysis

After years of development,the domestic real estate industry has witnessed a flattening growth rate,and many factors have appeared in the market,such as the rise of land price,financial market regulation,increased policy regulation,and intensified industrial competition.Under this background,the domestic real estate operation mode starts to gradually break away from the asset-heavy operation mode and start to explore the positive role of asset-light operation mode.Therefore,it is particularly important to concretely analyze the application effect of asset-light operation mode in the real estate industry,especially the effect of asset-light operation mode on the performance of real estate enterprises.This paper is different from the traditional real estate asset-light operation analysis,but based on the dupont analysis model,combined with the serial substitution method to make a comparative analysis of the performance of specific asset-light operation mode,and make an in-depth study of its practical effect.First of all,through a large number of literature review at home and abroad in the theoretical knowledge assets operation,at the same time,with the help of industry value chain analysis and the theory of division of labor theory,the smile curve theory as a foundation for analyzing the operation of asset light theory,combined with the real estate industry regulation of financial markets and policy environment in the theoretical application of real estate asset light the necessity of the operation mode makes the theoretical analysis and positive.Secondly,taking the domestic representative real estate enterprises as the actual cases,from the application of asset-light operation mode to the analysis of the motivation,and then to the specific operation mode of asset-light operation,the main supply chain financing,professional cooperation development and internal "business partner" mode.Moreover,with the aid of dupont analysis model and serial substitution method,first analyzed the case enterprise in recent years,the return on net assets,rights and interests of the multiplier and sales net interest rate trend of the financial performance indicators within the company to make comparative analysis with industry average index,respectively analysis of supply chain financing and cooperation development mode of rights and interests multiplier and sales net interest rate,the effect of indirect effects as well as to the return on equity,calculated the supply chain financing and cooperation development mode in the real estate enterprise application of positive effect,at the same time,also gives advices on application.Finally,combining the previous theoretical analysis and practical case performance analysis,the following main conclusions are drawn: theoretical level: the positive benefits of asset-light operation mode can provide long-term help for the development of real estate,and the asset-light operation mode can make the resource allocation of real estate enterprises more concentrated in the link of output value;Practical operation level : under a reasonable debt structure,the promotion of supply chain financing mode can improve the return on equity of enterprises and quickly realize the positive fund flow of project operation;the mode of cooperative development in the professional sector can guarantee the complementary advantages between enterprises,so as to upgrade the cost control to the premium of brand value,so as to increase the net interest rate of sales and enhance the profitability of enterprises;analyze the specific operations of asset-light operation through the analysis of industry-recognized performance indicators,so as to make the analysis results more convincing and referential.Based on the above conclusions,the operational benefit analysis of asset-light operation mode in the real estate industry has been positively recognized,and more exploration is needed for more diverse operational modes.