金融危机对中国房地产企业盈利能力及偿债能力的影响

摘要
房地产业同其他行业相比，具有典型的高投资、高风险、高收益的特点，而我国的房地产业起步晚、基础差、规模小、行业行为尚未规范，加上我国金融体系的不完善，使得不少房地产开发企业严重依赖银行贷款，资产负债率在70％以上，有的甚至高达90％，负债比率越高，对企业的偿债能力要求越高，这在一定程度上制约了企业的经营活动，从而影响企业的盈利能力，甚至有可能导致企业在某些时候面临资金短缺、入不敷出的危险。巨大的财务风险很容易导致企业的资金链断裂，无力偿还银行债务而使企业陷入财务困境。金融危机发生后，国家对房地产公司进行了一系列的调控措施，再加上市场对房地产行业的预期变差，使房地产公司的财务状况进一步恶化。房地产公司的偿债能力和盈利能力大幅度下降。
本文首先对企业盈利能力和偿债能力的财务指标进行分析并阐述起重要性，然后选取国内典型房地产企业进行财务分析，并对金融危机发生前后进行对比，得出受金融危机影响较大的指标，然后放到同行业中进行对比分析。最后对国际金融危机背景下改善我国房地产公司财务状况进行了策略分析，并给出了相关的建议。

In China's real estate enterprise financial crisis and the solvency of profitability

Abstract
Compared with other industry, real estate, the typical high investment, high risk, high yield, and the characteristics of real estate industry in China, the foundation is bad, starting late, small size, not standard, plus industry behaviors of the financial system in China is not perfect, making a real estate development enterprise relies heavily on bank lending, asset-liability ratio in 70%, and some even 90%, debt ratio is higher, the solvency of enterprises, the higher requirement in a certain extent restricts the business activities of enterprises, which affects the profitability of the company, and even may cause some enterprises in the face of danger, insufficient funds shortage. Great financial risk easily lead to enterprise's capital chain rupture, unable to repay debt and bank into financial difficulties. Financial crises in real estate company, the country after a series of control measures, plus the market for real estate industry is expected to real estate company, the financial deteriorated further. Real estate company solvency and profitability dropped substantially.
This paper firstly enterprise profitability and solvency of financial analysis and expounds importance, then select up domestic real estate enterprise financial analysis of typical of financial crises, and after that, by comparing the financial crisis of the index, and then influenced on a comparative analysis of the industry. On the background of international financial crisis to improve our real estate company financial status strategy analysis is presented, and Suggestions.
Keywords: financial crisis； Real estate；Financial status

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