本科生毕业论文《保利地产资金链分析》.pdf

保利地产资金链分析 本科生毕业论文 题 目：保利地产资金链分析 姓 名： 学 号： 学 院：工商管理与旅游管理学院 专 业： 财务管理 指导教师： 2010 年 5 月 1 保利地产资金链分析 保利地产资金链分析 摘要： 2006 年，顺驰中国在盲目扩张之后而轰然倒塌；2009 年，中新地产的“破产门”事件闹得沸沸扬扬，这些 事件无一不与企业的资金链有关。由于房地产开发企业具有投资额度大，资本回收期长的特点，加上近年来宏观经 济形势的动荡局面，房地产开发企业的资金链问题已经越来越受到社会各界的关注。 2010 年3 月初，保利地产公布了其在2009 财政年度的年度财务报告，业绩骄人，但同时公司经营性现金流的亏 空也使得人们对于保利地产经营质量的质疑，加之保利地产2009 年在全国各地屡屡刷新各地“地王”记录，不禁让 人想到，保利地产资金实力就真的有这么强大么？这么巨额资金拿地的行为对公司的资金链会有怎样的影响？这种 疯狂拿地的结果会使保利地产面临怎样的风险？本文试图从这些角度切入，探索保利地产的业绩真相，揭开保利地 产的资金链之谜；并对保利地产面对庞大的资金缺口所采取的融资策略进行评价，提出公司在新的财政年度所面临 的风险。 关键词：保利地产 资金链分析 资金缺口 风险应对 2 保利地产资金链分析 Abstracts: Sunco China were crashing down in 2006 after the blind expansion .the NEO-CHINA LAND’s bankruptcy gate incident was known as the public in 2009, these events are all related to the business funding chain. As the real estate development enterprises were characterized by the large amounts of capital investment and a long payback period, coupled with the unstabilized macroeconomic situation in recent years, and real estate development enterprise financial-chain problem has been more and more concerned by the community .Early in March 2010, Poly Real Estate Group announced its annual financial report of fiscal 2009, the performance is outstanding, but at the same time companys operating cash flow deficit has also made the quality of real estate business questioned for Poly, coupled with Poly Real Estate has been Refreshed the prime sites record frequently throughout the country, we cannot help but think, Poly Real Estate Group really have such a strong financial system? What effect it will make to the company’s capital chain that takes such a huge sum of money to purchase the land ?