| With the development of China's economy and the improvement of people's living standards,the purchase of commercial housing has become a rigid demand of people.The prosperity of the purchase market has also made the real estate industry in China go all the way and become one of the important industries to promote China's economic development.With the rapid growth of the real estate industry,there are also some problems worthy of attention.For example,the relevant industry norms and systems are not perfect.In addition,the real estate enterprises generally have the characteristics of high investment cost,long recovery cycle,strong regional,etc.,which are greatly influenced by the economic form and national macro-control.These factors increase the financial risk of the real estate enterprises.In particular,compared with the large-scale real estate enterprises with strong strength and strong ability of risk,small-scale real estate enterprises,lack of capital accumulation,combined with the speed of large-scale real estate enterprises merger and acquisition of small and medium-sized real estate enterprises,some small and medium-sized real estate enterprises have more and more liabilities and face more and more financial risks.An effective financial risk early warning system can prevent risks in advance,catch the potential financial risks in the process of enterprise operation in time,and pass them to the management of the enterprise before the potential risks become real crises by predicting the degree of financial risks in advance,so as to take effective measures in time and actively respond to the possible financial risks,so as to avoid the losses caused by the financial crisis,It is conducive to the long-term development of the enterprise.Based on the financial risk early warning theory,this paper focuses on the financial risk early warning model of entropy method and efficiency coefficient method,and takes the medium-sized real estate development enterprise HY Co.,Ltd.as the research object,and studies the financial risk of HY Co.,Ltd.from the following six parts: the first chapter is the introduction,which analyzes the research background and the current situation of the financial risk early warning theory at home and abroad On the basis of the analysis,the research angle and thinking of the article are determined;the second chapter is mainly to sort out the theory of financial risk and early warning,which is the theoretical basis for the follow-up part of the article;the third chapter introduces the basic situation of HY Co.,Ltd.,analyzes its financial status and the financial risks it faces,and on this basis,expounds its financial situation Thefourth chapter mainly uses entropy method and efficiency coefficient method to build the financial risk early-warning model of HY Co.,Ltd.,and selects 16 alternative financial indicators from the four aspects of solvency,profitability,operation ability and development ability According to the actual situation of HY Co.,Ltd.,12 representative financial indicators are selected for early warning analysis,including asset liability ratio,return on net assets,turnover rate of total assets,growth rate of total assets and other financial indicators.Entropy method is used to determine the weight of retained financial indicators,and then the evaluation coefficient of each single indicator and indicator group is calculated according to the efficiency coefficient method The financial risk assessment level is determined to evaluate the financial risk level of HY Co.,Ltd.and analyze the assessment results;Chapter Five puts forward the preventive measures for HY Co.,Ltd.to deal with financial risk based on the early warning results;chapter six is the research conclusion and existing deficiencies.Through the early warning research on the financial risks of HY Co.,Ltd.from 2016 to 2018,the main conclusions of this paper are as follows: first,from the perspective of the internal and external environment of HY Co.,Ltd.,it has the financial characteristics of too fast expansion,relying on debt expansion,mainly relying on bank debt financing sources,poor profitability,greatly affected by macro policies,corresponding to assets and liabilities Financial risks such as high rate,weak debt paying ability,weak awareness of financial risk early warning and imperfect financial management mechanism;secondly,12 financial indicators are selected,and the entropy method combined with the improved efficiency coefficient method is used to carry out early warning research on their financial risks from 2016 to 2018.It is found that the corresponding financial risk levels are heavy alarm,medium alarm and heavy alarm,which are consistent with the actual operation Thirdly,HY Co.,Ltd.can take measures to deal with possible financial risks,such as establishing an effective financial risk early warning system,adjusting the debt structure,establishing diversified financing channels and expanding the investment field to reduce investment risks.Through the research of this paper,we hope to provide theoretical reference for HY Co.,Ltd.to deal with financial risks,and effectively prevent potential financial risks,so as to achieve long-term development of the enterprise.Through the research on the financial risk early warning of HY Co.,Ltd.,its main research significance has three aspects: first,it can provide the reference for the management of HY Co.,Ltd.to deal with the financial risk.The early warning model combining entropy method and efficiency coefficient method is used to build a financial risk early warning system suitable for the actual situation of HY Co.,Ltd.the early warning results can be used for reference by the enterprise management,so as to adjust the business strategy and actively respond to the risks;secondly,it is helpful to improve the financial risk management andcontrol level of HY Co.,Ltd.Through the financial risk early warning model to identify and monitor the financial risk degree of HY Co.,Ltd.,and on this basis,put forward targeted measures,which can provide reference for its financial risk prevention,so as to prevent in advance.Third,it can provide reference for financial risk early warning of other enterprises of the same type.Other companies in the same industry can learn and improve their own financial risk management and control ability and improve their financial risk management level by referring to the experience of HY Co.,Ltd.in financial risk early warning. |
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