The Research On Financial Risk Of QK Apartment Under Asset-Light Operation Mode

As college graduates and residents from all over the country continue to flood into first and second-tier cities,the high housing prices in big cities and the requirements of outsiders for living environment provide favorable conditions for the development of long-term rental apartments.Long-term rental apartment is an emerging industry in the real estate market.Most of the long-term rental apartment will lease owner house,renovate it,complete with furniture and appliances,and then sublet it out in the form of a single room.Although Chinese long-term rental apartment started late,with the protection of the policy,the development space is still huge.However,in recent years,there have been frequent explosions of long-term rented apartments,which is worth reflecting on the problems existing in long-term rented apartments,and also leaves room for us to study and discuss this industry.Operation mode is an important factor affecting the development of long-term rental apartment enterprises,which runs through all links behind the capital flow.Long-term rental apartments of explosive thunder are mostly enterprises that adopt asset-light operation mode.To study the financial risks of long-term rental apartments under asset-light operation mode is conducive to promoting the stable operation of long-term rental apartment enterprises.In view of the above background,based on theories related to operation mode and financial risk,thesis adopts literature research method,case analysis method and combination of qualitative and quantitative analysis to select QK apartment,which adopts asset-light operation mode in the long-term rental apartment industry,as the research object to study its financial risk.In thesis,the specific performance of the financial risk of QK apartment under the asset-light operation mode is described first,and the corporate financial risk is identified from the four perspectives of financing,investment,operation and income structure.Then the profitability of QK apartment is evaluated and analyzed by means of cost-benefit analysis of housing renovation project,and the important factors affecting corporate profitability are analyzed by sensitivity analysis method.Measure the value range of the leverage multiple of the capital leveraged by rent loan,evaluate the financial risk of using rent loan,and analyze the solvency of enterprises.Based on the F-score model and combined with the financial data of the enterprise in recent five years,the F value was calculated,and the F value of two enterprises in the same industry in recent five years was compared horizontally.After comprehensive evaluation of the financial risks of QK apartment under the asset-light operation mode,the following conclusions are drawn:QK apartment uses the term of capital to expand disordered,and the financial leverage risk is high.Bilateral concessions to landlords and tenants,housing high into low,profit space is compressed,profitability is difficult.Borrow to manage but capital return is poor,debt paying ability is weak.F value is below the critical point,indicating that QK apartment is facing a greater financial crisis.Finally,in order to prevent the financial risks of QK apartment,the following suggestions are put forward:try to broaden financing channels,expand in an orderly manner according to the operating conditions,make reasonable use of rent loan,and provide differentiated services to explore new profit growth points.Thesis studies the financial risks of QK apartment under the asset-light operation mode,aiming to provide targeted suggestions for preventing financial risks for QK apartment and provide reference value for other long-term rental apartment enterprises with the same operation mode.