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论文编号：	14494
作者编号：	2120213431
上传时间：	2024/3/8 14:38:50
中文题目：	FZ养老地产项目公司财务风险管理改进研究
英文题目：	Research on financial risk management improvement of FZ Pension real Estate Project Company
指导老师：	边泓
中文关键字：	房地产；养老地产项目；财务风险管理
英文关键字：	Real estate;Elderly care real estate project;Financial risk management.
中文摘要：	房地产行业是我国国民经济支柱行业，近年在房地产行业结构性调整的的大背景下，国家对房地产行业贯彻落实了一系列宏观调控政策，房地产市场面临的财务风险日益增加。一些企业通过扩张业务规模、多元化发展等战略分散风险，寻求新的利润增长点。养老地产是一种专门为老年人提供居住和配套服务的特殊房地产项目，在我国老龄化进程日益加快的背景下，中国养老市场存在巨大发展潜力，国内多家知名房地产开发企业投入大量土地、资金、人力资源等加入养老地产项目的开发，但项目的建设和运营的双重风险加大了养老地产行业的发展难度。 本文以 FZ 养老地产项目为案例，分析项目立项准备阶段及建设期已进行的风险管理活动中存在的问题，并提出改进建议。FZ 项目当前项目建设期结束，即将开展运营阶段，面临目融资成本均高于预测值、偿债压力大、当前市场环境下收入水平明显无法达到预期水平、试运营成本高于预测水平等问题。通过研究项目财务风险管理过程，FZ 项目立项准备阶段对投资风险的识别过于简单，可行性研究不足，对筹资进度和投资回报的预测均比较乐观，更未对无法获得低成本筹资以及盈利水平变化对项目造成的不利影响进行评估。项目建设期对筹资风险的应对手段存在不足，对于即将开展的运营期可能面临的亏损风险，尚未及时采取应对措施，以提高经济效益，降低投资风险。本文首先对项目当前面临的投资风险提出风险管理改善方案，并提出调整项目运营模式的风险应对措施；其次，通过总结项目筹资风险管理问题，提出对项目公司今后相似项目的筹资风险管理改进建议；最后针对财务风险管理改进建议提出相应的保障措施。以期能有助于项目的持续稳定经营，为 FZ 项目公司财务风险管理体系建设提供支持。
英文摘要：	The real estate industry is the pillar industry of China's national economy. In recent years, under the background of the structural adjustment of the real estate industry, the state has implemented a series of macro-control policies on the real estate industry, and the financial risks faced by the real estate market are increasing. Some enterprises diversify risks and seek new profit growth points by expanding business scale and diversifying development strategies. Elderly care real estate is a special real estate project that provides living and supporting services for the elderly. In the context of the increasingly accelerated aging process in China, China's elderly care market has huge development potential. Many well-known domestic real estate development enterprises have invested a large amount of land, capital and human resources into the development of elderly care real estate projects. However, the double risks of the construction and operation of the project have increased the difficulty of the development of the pension real estate industry. Taking FZ pension real estate project as an example, this paper analyzes the existing problems in the risk management activities carried out during the project preparation stage and construction period, and puts forward suggestions for improvement. The current construction period of the FZ project is over, and the operation phase is about to be launched. The project is faced with such problems as higher financing costs than predicted, greater pressure on debt repayment, significantly lower income level than expected in the current market environment, and higher trial operation cost than predicted. By studying the process of financial risk management of the project, it is found that the identification of investment risk in the preparation stage of the FZ project is too simple, the feasibility study is insufficient, the prediction of financing progress and investment return is optimistic, and the adverse impact of the failure to obtain low-cost financing and the change of profitability level on the project is not evaluated. There are insufficient measures to deal with financing risks during the construction period of the project, and timely measures have not been taken to deal with the possible loss risks in the upcoming operation period, so as to improve economic benefits and reduce investment risks. This paper first puts forward the risk management improvement plan for the current investment risk faced by the project, and puts forward the risk response measures to adjust the project operation mode; Secondly, by summarizing the problems of project financing risk management, this paper puts forward some suggestions for improving the financing risk management of similar projects in the future. Finally, the corresponding safeguard measures are proposed for the improvement of financial risk management. It is expected to contribute to the sustainable and stable operation of the project and provide support for the construction of financial risk management system of FZ project company.
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