| Real estate enterprises are typical capital-intensive enterprises with high development costs,slow investment returns,and strong policy orientation.Based on these characteristics,compared with enterprises in other industries,they face greater financial risks.In recent years,in the face of the continuous rise in housing prices across the country,the state has put forward the call of "housing to live without speculation",and has successively introduced many regulatory policies,such as controlling housing prices and restricting households to purchase houses,etc.At the same time,bank loan interest rates have been rising year by year,making the financing activities of real estate companies more difficult.Based on various factors,the entire real estate industry is facing unprecedented sales pressure and capital pressure,and the financial risks of real estate companies have further increased.Therefore,it is particularly important to control the financial risk of real estate enterprises.This paper takes X real estate company as the research object,and conducts analysis and research on the identification,evaluation,causes and control of its financial risks.Firstly,by studying the relevant theories of financial risk,analyzing the current financial situation of X Real Estate Company,and combining the industry comparative analysis method and the financial index analysis method,the company preliminarily identified the problems that may exist in the four aspects of financing,investment,operation and cash flow.Then,comprehensively evaluate the financial risk of X real estate company from two perspectives,qualitative and quantitative.The "four-stage symptom" analysis method is to evaluate the financial risk status of X real estate company in each period from a qualitative point of view.The Z-score model is to evaluate the financial risk level of X real estate company from a quantitative point of view by calculating and scoring the financial data of X real estate company from 2016 to June 2020.Through the above comprehensive evaluation,it is further determined that the enterprise does have financial risks in four aspects: financing,investment,operation and cash flow,and a detailed internal and external analysis of the causes of the financial risks is carried out.Finally,based on the internal and external causes of financial risk,specific suggestions for financial risk control of X real estate company are targeted.The research results of this paper can provide certain guidance for X real estate company’s financial risk control,and it is expected to restrain its financial risk from further deterioration,and then make the company’s financial situation change to a better direction.In addition,this paper also has a certain reference significance for other real estate enterprises in financial risk control,and can also provide some basis for the state to issue relevant regulatory policies for the real estate industry. |
