万达商业轻资产运营模式的财务绩效分析

Financial Performance Analysis of Wanda s Commercial Asset-light Operation Model

运用相关性分析法构建万达商业财务绩效指标评价体系,并采用熵权-TOPSIS法对万达商业2013—2020年的偿债能力、盈利能力、营运能力、现金流量以及综合财务绩效状况进行动态分析。结果表明:偿债能力、营运能力是影响万达商业财务绩效的两个重要方面,轻资产运营总体上成效可观,以轻资产为核心构建的竞争力难以被模仿,使其资产结构、融资渠道等更为合理,对销售模式、经济附加值、偿债能力、盈利能力等方面均产生了正面影响,同时也面临资产与负债期限结构不匹配、营运能力和发展能力不强等问题。据此,提出了万达商业必须重视内部控制和风险管控、聚焦优势产业、加强数据化改造、加速人才储备等建议。

By using the correlation analysis method to construct the Wanda Commercial financial performance index evaluation system,this paper used the entropy weight-TOPSIS method to dynamically analyze the solvency,profitability,operating capacity,cash flow and comprehensive financial performance of Wanda Commercial from 2013 to 2020.The results showed that the solvency and operating ability were two important aspects that affected the financial performance of Wanda s business.The asset-light operation was generally effective,and the competitiveness built with the light asset as the core was difficult to imitate,which made its asset structure and financing channels,etc.It s more reasonable and had a positive impact on sales model,economic added value,solvency,profitability,etc.,but also faced problems such as the mismatch between the maturity structure of assets and liabilities,and weak operational and development capabilities.Based on this,it s proposed that Wanda Commercial must pay attention to internal control and risk control,focus on advantageous industries,strengthen data transformation,and accelerate talent pooling.