Research On Asset-light Operation Of Real Estate Enterprises And Its Financial Risk

In recent years,with the rapid development of the economy,real estate companies have been increasingly affected by the economic environment and national policies in the new period.The real estate industry relied on traditional land dividends to realize rapid value-added asset-heavy asset operation models encountered bottlenecks.Under this background,many real estate development companies have sought ways to transform.Among them,Greentown,as one of the companies that clearly proposed asset-light operation earlier received extensive attention.This article first summarizes the relevant research progress on light asset operations in the view of domestic and abroad,introduces the theoretical basis of the division of labor theory,smile curve theory and value chain theory,based on this research,which lays the foundation for the subsequent interpretation of the feasibility of real estate enterprises to transform light asset operations.From the perspective of the current real estate industry,it analyzes the main problems facing the operation,proposes that the transition to light asset operation has become the main trend of the development of large real estate companies,and analyzes the industry’s attempts to transition to light asset operation.Through the case analysis of Greentown’s light asset operation,the in-depth explanation of its light asset operation overview and the financial risk issues it faces.The article analyzes and believes that because of the comprehensive impact of internal and external environmental factors,Greentown’s financial risks mainly exist in the relevant links of financing,investment,capital recovery and income distribution.Finally,based on the case analysis of Greentown,the article proposes specific measures to deal with financial risks under the asset-light operating model,that is,to rationally invest in the context of transformation and development,continuously improve the agency construction business,and balance the costs and benefits of financing activities.Improve the efficiency of corporate funds,so as to provide the necessary reference and reference for the domestic real estate industry to adopt the asset-light operation model.