Research On Light Asset Operation Of Greentown China Based On Agent Construction Model

The urbanization process accompanying the growing economy continues to advance,and the expansion of the city and the housing demand of the residents have also increased,creating the real estate industrys mainstay in the national economy.Rising market demand has allowed many real estate companies to achieve expansion in scale.Many real estate companies have also been able to better market conditions and achieved large-scale expansion.,Issued a series of internal policies including tightening the supply of land review and reorganization of bank loans,and more and more stringent.The gradual disappearance of land dividends The actual profit model of real estate companies is facing huge challenges.The modernization of investment and development in China has changed the assets of enterprises from "heavy" to"light",which is an urgent problem to be solved by real estate enterprises in their transformation.Greentown China takes the middle and lower reaches of the Yangtze River as the core.After years of hard work in the domestic real estate industry,it has gradually become one of the first-tier real estate companies in China.However,due to the management's misjudgment of the domestic real estate market situation,Greentown China has caused excessive expansion and further triggered several capital chain crises.After many crises,Greentown China decided to transform the asset-light operation model with the company's existing high reputation and high-value brand advantages,as well as rich experience in real estate development and management.In recent years,Greentown China has vigorously developed the agency construction business on the basis of the establishment of the "One Body Five Wings" pattern.It has emerged from the crisis of capital chain breakage and has also improved its corporate value.Overall,the transformation effect has been remarkable.Agent construction is not widely used in my country's real estate companies,thus this paper uses Greentown China as the sample,which has certain representativeness.The research idea of this article is to combine theory and practice cases,select the real estate light asset model for discussion,and take the Greentown China agent construction as an example to analyze the macro environment,industry environment,enterprise environment,motivation and the specific implementation of agent construction In the process,through the analysis of the effect of the Greentown China agent construction model,the advantages of the Greentown China agent construction model are summarized,and the problems that should be paid attention to in the application of the agent construction model are put forward.The purpose is to provide reference for other asset transformation companies to explore asset transformation This paper analyzes the specific measures and implementation effects of the real estate asset-light operation under the agent construction mode by analyzing the light asset operation model based on the agent construction of Greentown China Holdings Limited,which is listed in Hong Kong.This article is divided into six different parts The first part is the introduction for this article,which including research background,research significance,research ideas and research methods,otherwise research framework and research innovation.The second part is literature review.The literature review part mainly discusses from the following three aspects.The first aspect is the literature review related to real estate transformation,the second aspect is the literature review related to light asset operation,and the third aspect is the literature review related to the application of light asset operation in real estate transformation.Finally,the literature review.The third part is the concept definition and theoretical basis.The concept definition part mainly explains the two core concepts of light asset operation and agent construction.The theoretical foundation part explains the labor division theory,principal-agent theory,smile curve theory and value chain theory related to this article,which provides theoretical support for further research in this article.The fourth part is an analysis of the light asset operation mode based on agent construction implemented by Greentown China.This includes a brief introduction to the basic information of Greentown China,as well as the analysis and interpretation of the reasons for Greentown China's transformation of asset-light operations and the choice of agent construction mode.It summarizes the achievements of Greentown China's agent construction by 2018.The fifth part is the analysis of the specific implementation effect of the asset-light operation under the agent construction model,mainly from the five perspectives of asset management quality,solvency,profitability,EVA evaluation and potential risks.And the corresponding risks are compared and analyzed.The sixth part is conclusion and prospect,combined with the previous case analysis to make recommendations,summarize the deficiencies,and enrich and enrich the prospects for future research.