会计学院知识库

    In recent years, the establishment of the guiding ideology of "housing, not speculating" has driven major structural adjustments in the real estate industry. In the context of macro policy changes and stricter domestic supervision, it is particularly important to break the development deadlock and seek new performance growth points. However, due to the large scale of the real estate industry, from land acquisition to development and construction to final sales, the entire cycle is long, resulting in slow fund collection, coupled with the government's strong regulation of the real estate financial market, tightened land policies, and regulatory trends. Strict, making many real estate companies under great financial pressure, entering the peak period of debt repayment, and falling into unprecedented financial difficulties. In order to relieve difficulties, real estate companies seek diversified financing channels, optimize their financing structures, and reduce financing costs. For example, in order to withdraw funds, many companies have adopted measures such as private equity, real estate trust funds, spin-off services and listing. Formulating a financing strategy that can avoid risks is the basis for ensuring the normal operation, transformation and upgrading of enterprises.

    In this context, this paper firstly explores the relationship between financing strategy and economic added value and sustainable growth rate, and constructs an EVA/SGR matrix model with economic added value and sustainable growth rate as two-dimensional goals. Select Sunac China, a listed company in the real estate industry, as the research object, calculate the economic added value and sustainable growth rate according to the financial data of the company from 2016 to 2020, and finally locate the data in the four quadrants of the matrix model to evaluate the current situation. Some financing strategies, and compare whether they are consistent with the connotation of the model, and provide suggestions that can help Sunac China optimize its financing structure. Through calculation, the data is finally distributed in the first quadrant, the second quadrant and the fourth quadrant. This paper focuses on the in-depth analysis of the financing strategies in these three quadrants.

    Through the analysis of Sunac China's financing strategy from 2016 to 2020, it is found that the choice of the company is basically consistent with the connotation of the model. The EVA/SGR matrix model can evaluate whether the company has created value and judge whether there is a shortage of cash flow. All quadrants are covered. The choice of financing strategies in different development stages of enterprises has reference significance for guiding the financing activities of enterprises.