上市房地产企业财务风险分析与控制研究——以万科集团为例
Research on Financial Risk Analysis and Control of Listed Real Estate Enterprises—Taking Vanke Group as an Example

近年来，在坚持“稳地价、稳房价、稳预期”调控主基调下，房地产行业供需监管全面收紧，房企面临巨大的资金链压力，财务风险也逐渐增大。房地产是我国国民经济的支柱产业，因此对其进行有效的风险防控是非常必要的。本文以房地产企业万科集团为研究对象，利用财务比率法和Z-Score模型，从筹资、投资、营运资金、收益分配等四个角度，识别评价其当前的财务风险，并结合万科集团的实际情况，进一步提出相应的风险控制对策，希望可以强化万科集团财务风险防控。
In recent years, in adhering to the “stable land prices, stable housing prices, stable expectations” main tone of control, the real estate industry supply and demand regulation has been tightened across the board, and real estate enterprises are facing enormous pressure on the capital chain, and the financial risk is also gradually increasing. Real estate is the pillar industry of China’s national economy, and it is very necessary to carry out effective risk prevention and control. This paper takes the real estate enterprise Vanke Group as the research object, and uses the financial ratio method and Z-Score model to identify and evaluate its current financial risks from four perspectives, such as fundraising, investment, working capital, and income distribution, etc. Combined with the actual situation of Vanke Group, it further proposes the corresponding risk control countermeasures, hoping that it can strengthen the prevention and control of Vanke Group’s financial risks.