从融资结构的角度看房地产企业的财务风险——以恒大地产为例

Financial Risk of Real Estate Enterprises from the Perspective of Financing Structure—Taking Evergrande Real Estate as an Example

摘要: 房地产行业为我国财政收入做出了巨大贡献，是国民经济的支柱型产业，具有高投入、高风险、高回报的特点。随着城市化的不断推进，房地产市场增速放缓，行业内竞争加剧；同时，随着国家对房地产宏观政策的不断收紧，“房住不炒”精神坚决贯彻，使房地行业遭遇资金的寒冬，财务风险急剧增加，因此通过对房地产企业融资导致的资金风险分析，对企业解决资金短缺，降低金融风险具有重要意义。本文通过对近五年房地产行业的融资现状分析，并以恒大地产融资状况为例，剖析现行房地产企业资金结构中存在的问题，并提出了解决问题的建设性意见。

Abstract: The real estate industry has made a great contribution to China’s fiscal revenue. It is a pillar in-dustry of the national economy, with the characteristics of high investment, high risk and high re-turn. With the continuous advancement of urbanization, the growth of the real estate market slows down, and the competition in the industry intensifies. At the same time, with the continuous tightening of the national macro policy on real estate, the spirit of “real estate, housing and non speculation” is firmly implemented, which makes the real estate industry encounter the cold winter of capital, and the financial risk increases sharply. Therefore, through the analysis of the capital risk caused by the financing of real estate enterprises, we can solve the shortage of capital for enterprises. It is of great significance to reduce financial risks. This paper analyzes the financing situation of the real estate industry in recent five years, and takes Evergrande real estate as an example to analyze the problems existing in the current capital structure of real estate enterprises, and puts forward constructive suggestions to solve the problems.