Research On Financial Risk Control Of Real Estate Enterprises Under Light Assets Operation Mode

In the past twenty years,the rapid development of China’s real estate industry has effectively promoted the development of the whole national economy.Many real estate enterprises have earned a lot of money.Therefore,more enterprises rush into the real estate industry,and the competition between real estate enterprises is becoming increasingly fierce.At the same time,with the gradual implementation of the national real estate control policies,as well as the changes in the supply and demand of the real estate market,many third and fourth tier cities have seen a situation of oversupply of real estate,housing enterprises will face the winter has come.In the early stage of real estate construction,a large amount of capital needs to be invested,and the construction period is long,and the capital turnover is slow.Therefore,as a real estate enterprise characterized by heavy asset operation,it will face a severe test.The disadvantages of the original business model are increasingly obvious,and the capital chain fracture of real estate enterprises frequently appears.In order to cope with many challenges,real estate enterprises are actively looking for and creating new business models,taking the road of asset-light operation,in order to achieve strategic transformation.As one of the earliest enterprises to transform,Poly has its particularity in its asset-light operation.There are experiences and inspirations for the financial risks under the asset-light operation mode,and there is also room for further improvement.This paper uses financial index analysis,financial leverage effect,the whole process of financial risk control and other methods to trace poly financial risks.From light assets strategic transformation background,first introduced the basic situation of poly,and then analyzes the implementation of the strategy of asset light path of the poly,poly light after the assets operation,combining the specific situation,identify its strategic transformation in financing,profitability,operating and cash flow after the Angle of risk,and USES factor analysis to evaluate the financial risk of the poly,Combined with financial leverage to analyze the internal and external causes of risk.The analysis shows that,as a whole,asset-light operation can play a positive role in combating financial risks,but it is not completely relevant,because the uncertainty of risks is very large,and financial risks should be identified and evaluated under the premise of continuing to promote asset-light operation.Finally,according to the analysis results,the financial risk control countermeasures under poly’s asset-light strategic transformation are proposed.