Analysis Of Financing Risks Of Real Estate Enterprises And Their Prevention Research

The high asset-liability ratio has been plaguing the healthy development of real estate enterprises in our country.For this reason,the government supervisory authorities have issued control policies and gradually tightened the financing of real estate enterprises.Many property companies are tightly controlled for new lending because they have hit the "red line" policy,raising funding risks.Under this background,combining the case study of real estate enterprises with the study of regulatory policy,this paper provides suggestions for the financing risk prevention of real estate enterprises in order to safeguard the healthy development of the real estate industry.On the basis of literature review,based on financing theory and financing risk prevention theory,this paper summarizes the financing channels and characteristics of real estate enterprises in China in the past five years,and analyzes their risks.The financial data of Gemdale Corporation.,Ltd.(Gemdale Group,code 600383)for nearly five years between 2017 and 2021,following the issuance of the Housing Residency and Housing Financing New Regulations,were selected as the case study subjects.Excessive reliance on pre-sale refunds,high proportion of bank loans,unstable debt financing,and exchange rate impact on the cost of dollar-denominated debt make Gemdale group’s financing potentially risky.It is suggested that Gemdale group prevents risks by expanding the diversity of financing channels,stabilizing the scale of bond financing,adjusting the asset-liability ratio and reducing the dollar bond financing.In this paper,we hope to combine the existing financing prevention measures of Gemdale group with the suggestions of Gemdale group financing prevention to form a set of effective financing risk prevention measures and take this as an example to provide other enterprises in the same industry to reduce the risk of providing sound development of the real estate industry.