基于哈佛分析框架下的国内某地产公司财务分析研究——以JS地产公司为例.docVIP

PAGE PAGE 25 摘要 房地产作为中国支柱型产业，自中国2010年，政府为了遏制某些投机分子大量屯购导致房价走高，颁布了一系列限购令政策。颁布这项政策，除却能够遏制不断高涨的房价以外，也能给持续过热的方式降降温，让房价处于稳定状态。在限购令的逐步完善下，房地产成交量慢慢萎缩，房价下滑幅度较为明显。2014年，国内待出售的房产总面积约6亿平方米，较2015年提高了26.1%，创下历史最高水平。纵然中国房市回暖还有待时日，但是从限购令放宽之后，也充分体现出政府对限购令的放宽态度，这充分反映出房地产市场未来依旧具备较大的发展潜力，将继续为国民经济的健康稳定发展做出巨大贡献。 本文基于哈佛分析框架的基础之上针对地产公司财务状况和质量予以详细分析，最后总结财务分析结论，并提出合理策略。JS地产公司在国内房地产行业处于领先地位，其资产结构和营运能力尤为突出，相较于同行业具备非常大的优势，其大多数财务指标也明显由于其它竞争对手，整体盈利水平也在逐步增强。然而JS地产公司也具备一些劣势，例资本结构上就存在一些漏洞。 关键词：战略分析；JS地产；哈佛分析框架；财务分析 Abstract Real estate, the mainstay of Chinas property sector, has been subject to a series of restrictions since 2010, when the government issued a series of policy restrictions to curb the buying of property by some speculators. Such a policy would not only be effective in curbing speculation by some to prevent prices from continuing to rise, but would also cool the property sector, which continues to overheat, and keep prices stable. With the gradual improvement of the purchase restrictions, real estate transaction volume slowly shrank, and the decline in house prices was more obvious. In 2014, Chinas real estate industry had 600 million square meters to sell, an increase of 26.1 percent over previous years, reaching its highest level. Although it will take time for property to warm up, the governments easing of restrictions on home purchases, which means that real estate will continue to contribute to the healthy and stable development of the Chinese economy, is also evident. This paper takes financial analysis as the focal point, and makes use of the strategy analysis framework of Harvard to introduce the present situation of real estate industry, then make a detailed analysis of the financial situation and quality of real estate company, and finally summarize the conclusion of financial analysis, and put forward reasonable strategies. JS Real Estate is in a leading position in the domestic real estate industry. Its asset structure and operating capabilities are particularly pr