近年来，国家相继出台了一系列对房地产的宏观调控政策，房地产行业已告别了“黄金时代”。国家不断加强对房地产企业的控制以及大幅度调整房地产市场的格局，使得房地产行业的处境更加艰难，财务风险也急剧增加。所以，如何正确对房地产企业进行财务困境预警已成了迫切需要解决的问题。为了解决我国房地产上市公司衰弱前预警的问题，本文以绿地控股为分析对象，运用阿特曼Z值模型理论对绿地控股2016~2020年度的财务数据进行梳理，基于三条红线看绿地控股踩踏红线现状，并利用Z值模型对绿地控股的财务风险进行评价，以挖掘上市公司衰弱前的财务特征，为投资人发现上市公司的衰弱提供预警借鉴。
In recent years, the state has
successively issued a series of macro-control policies on real estate, and the
real estate industry has bid farewell to the “golden age”. The state continues
to strengthen the control of real estate enterprises and greatly adjust the
pattern of the real estate market, which makes the situation of the real estate
industry more difficult and the financial risks increase sharply. Therefore,
how to correctly pre-warn the financial distress of real estate enterprises has
become an urgent problem to be solved. In order to solve the problem of early
warning before the weakening of my country’s listed real estate companies, this
paper takes Greenland Holdings as the analysis object, uses the Atman Z-value
model theory to sort out the financial data of Greenland Holdings from 2016 to
2020, and looks at the status quo of Greenland Holdings stepping on the red
line based on three red lines, and use the Z-value model to evaluate the
financial risk of Greenland Holdings, in order to mine the financial characteristics
of listed companies before the decline, and provide early warning for investors
to discover the decline of listed companies.
