Analysis of Solvency of A-Share Listed Companies in China’s Real Estate Industry

The real estate industry is a capital-intensive industry and capital has become a particular concern for real estate enterprises. For a long time, China’s real estate enterprises rely on high-leverage development and carry out high-debt and high-risk operations. The solvency of real estate enterprises has been the focus of stakeholders’ attention. In August 2020, China’s regulatory authorities introduced new financing regulations for real estate enterprises. They set up “three red lines,” which brought real estate enterprises’ solvency into focus once again. This article takes A-share listed companies in China’s real estate industry as an example, analyzes and evaluates its debt solvency, and gives suggestions based on new policies and regulations, hoping to provide specific references to the enterpriser’s manager and external decision-makers.

Impact of the Reduction of VAT Rate on Southeast Coastal Real Estate Enterprises

This paper takes the southeast coastal real estate listed enterprises that have been at the forefront of China’s reform for many years as the research object. Through theoretical analysis and descriptive statistical analysis, it studies the impact of the reduction of VAT (value-added tax) rate in 2019 on the southeast coastal listed real estate enterprises from the perspectives of sales revenue, costs, tax burden, profit, and cash flow. The overall operating tax rate has shown a volatile downward trend; the average operating income level has shown a volatile upward trend; the purchase cost has decreased slightly and the change was not significant; the total profits of enterprises have shown a cyclical upward trend. Due to the impact of the real estate purchase restriction policy and financing environment in recent years, the reduction of tax rate has an effective but not significant impact on the enterprise cash flow. Overall, the tax rate reduction still has a positive impact on enterprises. Combined with the problems in the process of policy implementation, this paper puts forward that those enterprises should make scientific and reasonable tax planning, pay attention to the management of purchase and sales contracts and the mode of cooperation with upstream enterprises, regulate taxation to reduce tax-related risks, improve the management level of enterprises, and establish an industry finance integration system. At the national policy level, there is limited room and effect for the reduction of the VAT rate, and more preferential tax relief policies should be given directly, not limited to VAT, but can be extended to corporate income tax. In this way, that could improve the effectiveness of the tax reduction policy in the southeast coastal real estate industry and provide a reference for relevant industries in other regions to solve similar problems.

Factors Affecting the Financing of Small and Medium Sized Real Estate Enterprises

Under the role of private capital in financial services, can shadow banking play a positive role in the development of small and medium-sized real estate enterprises. Based on this thinking, this paper puts forward the role of shadow banking in the financing process of small and medium-sized real estate enterprises. Through the analysis and demonstration of AHP model, it quantifies the key factors of small and medium-sized real estate enterprises in the four financing schemes of trust, REITs, financing guarantee and private financial system, and extracts the key factors as the comparison items. The financing suggestions for small and medium-sized real estate enterprises mainly focus on making financing decisions according to the consistency of their own financing objectives and enterprise life cycle, and under the guidance of relevant policies and measures of the State Council and other countries, timely make financing plans based on the principle of low financing cost, so as to realize the sustainable development of small and medium-sized enterprises.

Factors Influencing Large Real Estate Companies’ Competitiveness: A Sustainable Development Perspective

Strict policy control and real estate market downturn affects large-scale real estate enterprises performance. We surveyed large Chinese real estate enterprises and the internal factors that affect their competitiveness. Verified by the hierarchical regression and structural equation modelling approach, the results mainly show that profitability, capital ability, management and operation ability, human resource ability, brand name, and innovation ability play positive roles in the competitiveness of large real estate enterprises. Management and operation ability plays an intermediary role between human resources and the improvement of competitiveness. Real estate enterprises’ capital sources play an intermediary role between brand names and the improvement of competitiveness. Moreover, landbank area and quality and sales are three major factors that impact the competitiveness improvement of real estate enterprises, while the ability for marketing innovation and the payment collection of enterprises has a relatively small impact. All in all, this paper provides practical implications concerning factors that affect the competitiveness of large real estate enterprises. The findings are helpful to improve the sustainable development of real estate enterprises in the future. As research on factors that affect large-scale real estate enterprises is scarce, this study aims to fill this gap.

The Influence of E-Marketing on Performance of Real Estate Enterprises: Based on Super-Efficiency DEA and Grey Entropy Methods

E-marketing is an important tool for real estate enterprises. We evaluate 3 online marketing channels of 44 Chinese real estate companies. Super-efficiency DEA and grey entropy methods are applied to analyse the influence of E-marketing on the performance of real estate enterprises. We find that E-marketing will affect the business performance of real estate companies. Real estate company managers should adopt more strategies to improve corporate performance.