兰州亚太集团房地产项目融资模式优化研究

发布时间：2018-06-20 22:37

本文选题：项目融资 + 融资模式　；参考：《兰州大学》2014年硕士论文

【摘要】：2009年金融危机以后,我国的房地产行业在国民经济良好的运行下仍然保持稳定的发展趋势,各大中型城市的房地产企业近年来也逐步开始出现了由于融资困难而在竞争中出现了企业亏损的现象。由于房地产属于资本密集型的行业,所以怎样筹集数量巨大的资本并且有效地降低融资过程中存在的风险才能使得自己在目前竞争极其激烈的市场环境中发展已经成为了一个重要话题。目前我国有关研究房地产企业的融资模式与分析融资风险方面的文章仍然主要集中在探究房地产企业如何向银行寻求借贷的渠道内。但是近年来我国资本市场的快速发展为也房地产企业带来了多元化的融资渠道和方式,并且所有新出现的融资模式和融资渠道无疑也会给房地产业增加新的更大的风险,所以我们就有必要分析研究这些房地产企业在以往的这些融资渠道和方式下如何优化现有的融资模式来展开融资渠道的优化。与此同时传统的房地产融资渠道也逐渐暴露出了一些缺点,随之而来的更有效率的创新性融资模式因此也受到了很多研究者或者房地产投资商的研究和采用。兰州亚太集团作为甘肃省首家上市的房地产企业,在同行业竞争中占据绝对的优势。尤其是随着兰州成为第五个国家经济开发区之后,亚太集团目标定位为兰州新区这一极具优势和潜力的地理位置。随着企业的发展和规划,本公司也将在2016年之前创建兰州新区亚太科技总部,随之而来的就是以房地产业为主带动的金融业,服务业,餐饮业,教育行业的巨大商机。与此同时由于公司在新区的大量投资已达到4.5亿,这一庞大的数目也使得传统融资的这些渠道变得更加紧张了。银行贷款,股权融资,债券融资之类的这些融资渠道逐渐的难以满足目前公司的高速发展和大量资金的使用,一些大型项目的融资效率低下问题也使得公司的资金运营出现了一定的障碍,不利于亚太集团的可持续发展。本文以房地产融资理论为依据,针对兰州亚太集团融资过程中融资渠道的分析,结合以往传统融资的特点以及内在和外在的风险要素,对其融资风险的防范做出预测,分析出了集团房地产项目的资金运营特点,同时也提出了房地产项目融资的概念和特点。通过对兰州亚太集团从2011年到2014年之间存在的融资效率低下问题做出分析后,针对于本公司房地产项目的特点做出了融资模式的选择以及融资渠道的优化分析和保障措施。也为亚太集团房地产项目开发的顺利进行提供了积极的建议,从而为甘肃省房地产业的健康稳定发展和兰州新区的开发与建设做出了良好的预期。
[Abstract]:After the financial crisis in 2009, the real estate industry in our country still maintained a stable development trend under the sound operation of the national economy. In recent years, the real estate enterprises in the large and medium-sized cities have gradually appeared the phenomenon of enterprises losing money in the competition due to the difficulty of financing. Because real estate is a capital-intensive industry, Therefore, how to raise a large amount of capital and effectively reduce the risk in the process of financing in order to make their own development in the current extremely competitive market environment has become an important topic. At present, the research on the financing mode of real estate enterprises and the analysis of financing risk are still mainly focused on how real estate enterprises seek loans from banks. But in recent years, the rapid development of the capital market in our country has brought diversified financing channels and ways to the real estate enterprises, and all the new financing modes and financing channels will undoubtedly add new and greater risks to the real estate industry. Therefore, it is necessary for us to analyze and study how these real estate enterprises optimize the existing financing mode under the past financing channels and ways to optimize the financing channels. At the same time, the traditional real estate financing channels have gradually exposed some shortcomings, followed by more efficient innovative financing model, so it has been studied and adopted by many researchers or real estate investors. Lanzhou Asia-Pacific Group, as the first listed real estate enterprise in Gansu Province, occupies an absolute advantage in the competition of the same industry. Especially with Lanzhou becoming the fifth national economic development zone, Asia-Pacific Group aims at Lanzhou New area, which has great advantage and potential. With the development and planning of the enterprise, the company will also establish the Asia-Pacific Science and Technology headquarters of Lanzhou New District by 2016, followed by a huge business opportunity in the financial, service, catering and education industries, which are mainly driven by the real estate industry. At the same time, with the company's massive investment in the new zone reaching $450 million, this huge amount also makes these traditional sources of financing even more strained. These financing channels such as bank loans, equity financing, bond financing, and so on, are gradually difficult to meet the rapid development of the company and the use of a large amount of capital. The inefficient financing of some large projects also hinders the capital operation of the company, which is not conducive to the sustainable development of the Asia-Pacific Group. Based on the real estate financing theory, this paper analyzes the financing channels in the financing process of Lanzhou Asia-Pacific Group, combines the characteristics of the traditional financing and the internal and external risk elements, and makes a prediction of the financing risk. This paper analyzes the capital operation characteristics of real estate projects, and puts forward the concept and characteristics of real estate project financing. Based on the analysis of the financing inefficiency of Lanzhou Asia-Pacific Group from 2011 to 2014, this paper makes the choice of financing mode and the optimization analysis and safeguard measures of financing channel according to the characteristics of the real estate project of Lanzhou Asia-Pacific Group. It also provides positive suggestions for the smooth development of real estate projects in Asia Pacific Group, thus making a good expectation for the healthy and stable development of real estate industry in Gansu Province and the development and construction of Lanzhou New District.
【学位授予单位】：兰州大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42

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