With the gradual tightening of the national loan restriction policy, the cost of land continues to rise, the rapid expansion of the project development scale, commercial real estate is facing increasing development pressure. In the second half of 2020, the implementation of the “Three Red Line” policy, but also to face the cold winter housing enterprises. In addition,
the increasingly fierce commercial competition, the industry development space tends to be
saturated, adjustment policies continue to overlap, the epidemic situation is volatile, forcing the commercial real estate industry to explore a new way of development, asset-light mode of operation has become an important direction in the transformation of housing enterprises. By fully integrating and utilizing external resources, the model reduces the operating costs of human, material and financial resources, and strives to make the resources centralized distribution at the top of the industrial profit chain, it is an important measure for enterprises to improve their profitability and get out of difficulties.
On the basis of literature research and theoretical analysis, this paper takes F commercial real estate as the main object of investigation and elaborates the status of F commercial real estate asset-light operation. Based on the five elements of profit object, profit point, profit source, profit lever and profit barrier, this paper combs the profit model of light assets from the perspectives of financial and non-financial indicators, this paper analyzes the profitability of f commercial real estate under the light-asset operation mode, and constructs the profitability evaluation index system of the company under the light-asset Operation Mode. The analytic hierarchy process (AHP) is used to calculate the weight of each evaluation index, and the Fuzzy Comprehensive Evaluation method is used to evaluate the profitability of F commercial real estate, the following conclusions are drawn: the overall profitability of F commercial real estate is in the middle level of the industry, there are problems such as poor sales performance, insufficient cost control, low level of asset management, and insufficientinnovation, etc. ,finally, in view of the existing problems of the corresponding measures and recommendations.