| 马红光.房地产企业的债务风险分析——“恒大地产”个案为例[J].陕西学前师范学院学报,2016,32(12):44-48 |
| 房地产企业的债务风险分析——“恒大地产”个案为例 |
| DebtRisk Analysis of Real Estate Enterprises——A Case Study of “Hengda Real Estate” |
| 投稿时间：2016-06-23 修订日期：2016-08-26 |
| DOI：10.11995/j.issn.2095-770X.2016.12.011 |
| 中文关键词: 房地产企业 财务风险 偿债能力 |
| 英文关键词: real estate financial risks liability |
| 基金项目: |
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| 摘要点击次数: 3287 |
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| 中文摘要: |
| 房地产通常为高负债行业。经济增长进入新常态后，“去库存”亦成为我国房地产行业2016年的主基调，且战略性重组势在必行。以恒大地产为代表的一批地产巨头已逐渐掌握行业话语权，并悄然开始战略转型。通过对恒大地产的财务数据，从偿债能力角度进行分析，可知恒大地产虽然各偿债能力指标变化不大，整体负债水平保持基本稳定，但由于永续债按香港交易所准则而计入权益，掩盖了其负债的真实水平，若将永续债调入负债，则资产负债率会剧增。2015年恒大集团的骄人业绩就得益于高负债的支撑，因此，房地产行业的财务风险防范尤为重要。 |
| 英文摘要: |
| This paper studied the Hengda Real Estate financial data and found that the overall debt levels remained basically stable although the solvency indicators has changed. But due to the different way of calculating the debts of perpetual capital securities, it is masked the true level of its liabilities. If the perpetual capital securities transferred to liabilities, its assets and liabilities rate will increase, which can explain the impressive performance of Hengda Group in 2015. |
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