Research On The Causes And Countermeasures Of Bond Default Of Lan Guang Development Company

Since the reform of the housing system in 1998,as the mainstay of the national economy industry,China’s real estate industry has made great progress while growing in the industry scale.With the improvement of the real estate market,the people’s living needs have been solved accordingly,and the housing conditions have been improved accordingly.At the same time,real estate enterprises have excessive financing,high asset-debt ratio,bond default and other problems also occur in the excessive development of real estate enterprises.In 2021,the total number of defaults,the scale of bond defaults and the amount of liquidated damages in the real estate sector all increased significantly compared with the previous year.The frequent occurrence of real estate debt default problems has seriously inhibited the healthy development of China’s property market and bond market,and brought huge economic losses to all interested parties in the real estate field.In addition,the huge impact brought by the outbreak of COVID-19 events,the phenomenon of bond default of real estate enterprises is more intense.Therefore,the profound discussion of the bond default phenomenon of the housing enterprises has more practical significance.Thesis mainly adopts the case study method,qualitative and quantitative research method,literature research method,through the selection of Blu-ray development company in 202,the main debt default situation as the key case,and through the selection of the company in 2012-2021 part of the key financial and major financial indicators are discussed,and choose the Y mode of the development of the quantitative research,and discusses the problem of Y model warning significance.The results showed that Blu-ray has the highest risk of bond default in 2019.The main factors that lead to corporate bond default are divided into internal and external factors.The debt due to the further expansion of the company;the insufficient capital turnover capacity and the insufficient growth strategy of the company,and the environment for the long-term stable development of the company.External influences mainly include: government regulation in the real estate industry,the tightening of bank loans and the impact of COVID-19,which jointly led to the bond default of Blu-ray Company.After the analysis of the above default problems,the risk management policies of the Company should gradually change the asset structure and enhance the asset income level;reasonably reduce the scale of capital inventory and gradually enhance the profitability of capital;actively change the strategy of the company;improve the risk management ability and establish a sound risk management and early warning mechanism.To regulate corporate bond illegal situation,regulators should establish a sound system of corporate bond market access and illegal processing mechanism,and constantly strengthen the third party credit evaluation company to the main body and debt risk warning work,jointly form corporate bonds illegal risk diversification system,in order to safeguard the interests of large enterprises.