会计学院知识库

In the real estate industry, for most enterprises, the profit model relying on land appreciation has been difficult to bring a high rate of return to enterprises, and many housing enterprises have begun to seek transformation. The characteristics of asset-light counter-cyclical and high profitability are conducive to the development of housing enterprises in the current market environment, so more and more housing enterprises have begun to transform into a profit model based on the development of value-added, and the agent construction business has thus begun to develop rapidly. The agent construction business is still mainly engaged in real estate construction and development, but the agent construction method can enable enterprises to avoid the main development cost of land acquisition, and obtain more projects of the client with better quality agent construction services. Compared with the asset-heavy mode of land acquisition and development, it pays less cost and improves the profitability of enterprises.

This paper takes Greentown Management Holdings Company Limited as a case to analyze the profit model of its agent construction business. Beginning with a review of literature, this article examines and summarizes concepts related to light assets, profit models, and construction for others. Subsequently, a comprehensive analysis of the overall operating environment of domestic construction for others industry is provided, showing an increasing number of real estate enterprises transitioning to construction for others business, with various types such as commercial and government construction for others being applied. The focal point of this analysis is the profit model of the Greentown Management Holdings Company Limited's construction for others business, including an analysis of its profit model components and realization methods. Finally, a comprehensive analysis of its profit capabilities is conducted using factor analysis. Through a comprehensive analysis of the Greentown Management Holdings Company Limited, it is found that although it is a leader in the construction industry, with strong overall strength, in the past two years, due to the high risks involved in commercial construction, it has started to focus on developing the government construction model, leading to the company's profitability lagging behind the Central China Management Company Limited. The Greentown Management Holdings Company Limited can improve its profit model by making rational adjustments to its business structure, cooperation development ratios, and enhancing its construction for others capabilities.

 By analyzing the Greentown Management Holdings Company Limited, this article brings some insights and references to real estate companies that want to transform and outsource construction services, enabling them to continuously improve their profit model, enhance construction levels, and promote the long-term stable development of the enterprise.

Key words:Light asset model; Agent construction business; Profit model; Greentown Management Holdings Company Limite