Financial Performance Analysis Of Poly Development And Transformation Of Asset-light Operation Mode

Real estate is an important industry in the national economy.In recent years,due to various reasons,different types of companies have begun to transform and gradually introduced the asset light operation mode.Through the in-depth analysis of asset light operation in China’s real estate industry,it is helpful to have a deeper understanding of asset light operation mode.Using the methods of literature analysis,comparative analysis and case analysis,this paper selects poly development,which is relatively mature and has an early transformation,as a research case to investigate its financial and operating performance before and after the transformation of asset light operation mode.In 2012,poly development put forward the transformation of asset light operation mode.Until today,it is still trying and adjusting.Through the research on poly development,it is concluded that:(1)at the level of transformation path,poly development starts from three aspects: real estate finance,community consumption service and joint cooperative development of commercial real estate,which makes enterprises light assets,reduce costs and alleviate the pressure of capital;(2)At the level of transformation effect,after poly development implemented the asset light operation mode,it managed the enterprise assets with higher quality,so that the enterprise operated smoothly,the operation condition was good,and the growth ability was steadily improved.The asset light operation mode brought greater benefits to the company.However,poly development still has some problems in profitability,financial risk and cash flow.This paper puts forward the following suggestions on the existing problems: stripping bad land to improve profitability;Expand capital and cash flow channels;Reduce inventory and establish credit management system;Strengthen asset light operation.The research of this paper enriches and supplements the research on asset light in China’s real estate industry,hoping to help enterprises cultivate asset light resources and promote the stable and healthy development of enterprises.It also hopes to provide reference for enterprises about to start transformation and enterprises in transformation.