| The real estate industry is a pillar industry that drives China’s macroeconomic growth and provides an important foundation for people’s lives.Under the dual pressure of fierce market competition and national macro-control,real estate enterprises are facing unprecedented pressure.Real estate enterprises are mostly performance-based and lack a comprehensive and systematic financial performance evaluation system.How real estate enterprises can take financial performance as a guide to improve their market competitiveness,steadily expand the market and achieve sustainable development has become a highly relevant issue.The thesis builds a financial performance evaluation index system for real estate enterprises based on sorting out the relevant indicators for financial performance evaluation,taking H real estate enterprise as an example,and then evaluates the financial performance of nine subsidiaries located in the east,middle and west of the enterprise using entropy weighting analysis to explore the differences in their financial performance and extract targeted improvement measures.Firstly,the political,economic,socio-cultural,and technological environment in which real estate enterprise H is located was analyzed using PEST analysis,and it was found that the current macro environment is still generally favorable to the development of real estate enterprises.Then the current situation of the financial management of real estate enterprise H was sorted out,and it was found that the financial indicators selected in the process of financial performance evaluation lacked relevance,the indicator weights were set too arbitrarily and the evaluation object was single.Based on this,17 financial indicators were selected based on the principles of consistency,systematicity and applicability,considering the characteristics of real estate enterprises and relevant research at home and abroad.17 financial indicators were selected from five dimensions: profitability,solvency,operational capability,growth capability and cash flow capability of the enterprise,and finally an indicator system suitable for the performance evaluation of H real estate enterprises was constructed.Then,nine subsidiaries of H real estate enterprises located in Beijing,Chengdu,Changsha,Shanghai(2),Suzhou,Wuhan(2)and Xi’an were selected for empirical analysis.The study found that whether from the perspective of descriptive statistics of the nine subsidiaries or from the perspective of the weighted scores of the nine subsidiaries,there were significant differences in the financial performance indicators of each subsidiary.Shanghai A,Shanghai B and Suzhou C,which are in the eastern region,do not have a large lead in the overall financial performance score and each dimension of financial performance indicators among the nine subsidiaries,while Wuhan E and Wuhan D,which are in the central region,have a good overall financial performance score and most financial performance indicators.In the future development process,real estate enterprise H should adopt differentiated development strategies according to the different situations of its subsidiaries: for subsidiaries with poor profitability,it should focus on strengthening cost control to enhance corporate profitability;for subsidiaries with weak solvency,it should make scientific use of financial leverage to improve corporate solvency;for subsidiaries with weak operational capability,it should also pay attention to using existing assets to improve efficiency For subsidiaries with weaker operational capacity,we need to focus on using existing assets to improve efficiency and strengthen operational capacity;for subsidiaries with weaker growth capacity,we should gradually improve the business model and strengthen growth capacity. |
