摘要PAGE\*MERGEFORMATI摘要在瞬息万变的市场经济下，企业财务风险对企业的发展有着很大程度的影响有时候甚至决定着企业的生死存亡。我国的房地产行业起步又较晚，成长过程中一直有着经验不足、资金匮乏、市场不健全等不少问题的困扰,长期依赖向银行借款，导致高杠杆、高负债已经是常态化了。随着房地产行业的迅猛发展，它已经是我国的支柱性国民经济产业之一。近几年，我国政府对房地产业出台的“去杠杆、去库存”的政策要求，导致房地产企业的处境更加不容易，所面临的财务风险也会急剧增加。所以，大家对房地产企业的财务风险分析更加关注。本文对房地产企业的财务风险分析是选取高杠杆特征显著的碧桂园公司为研究对象，简单介绍了财务风险相关理论和财务杠杆分析理论以及我国房地产企业的财务风险现状，然后对碧桂园做了简单介绍，并选取碧桂园公司2015年到2018年的财务数据，对其财务状况进行了阐述，再了解分析影响财务风险的各项指标，指出企业所面临的筹资风险、投资风险、流动性风险、信用风险，最后阅读大量相关文献，总结前人在财务风险识别与防范上的研究成果，针对碧桂园公司的财务风险提出相应的防范措施。关键词：房地产企业；高杠杆；碧桂园；财务风险ABSTRACTPAGE\*MERGEFORMATIIABSTRACTIntherapidlychangingmarketeconomy,thefinancialriskoftheenterprisehasagreatimpactonthedevelopmentoftheenterprise,andsometimesevendeterminesthelifeanddeathoftheenterprise.China'srealestateindustrystartedrelativelylate,thegrowthprocesshasbeenplaguedbymanyproblems,suchaslackofexperience,lackoffunds,imperfectmarketandsoon.Itisnormaltorelyonbankloansforalongtime,resultinginhighleverageandhighdebt.Now,therealestateindustryhasbecomeoneofthepillarnationaleconomicindustriesinourcountry.Withtherapiddevelopmentoftherealestateindustry,theresultingproblemscannotbeignored.Inaddition,inrecentyears,withthepolicyrequirementsof"deleveragingandde-inventory"issuedbyourgovernmentontherealestateindustry,thesituationofrealestateenterprisesismoredifficult,andthefinancialriskstheyfacewillincreasesharply.Therefore,thefinancialriskanalysisofrealestateenterprisesistheresearchfocusandfocusofmanypeople.Inthispaper,thefinancialriskanalysisofrealestateenterprisesistoselectthecountryGardenCompanywithhighleveragecharacteristicsastheresearchobject,andintroducestheconceptoffinancialrisk,thecausesoffinancialrisk,thetheoryoffinancialleverageanalysisandthecurrentsituationoffinancialriskofrealestateenterprisesinourcountry.ThenitmakesabriefintroductiontocountryGarden,andselectsthefinancialdataofcountryGardenCompanyfrom2015to2018todescribeitsfinancialsituation.Thenunderstandandanalyzetheindicatorsthataffectthefinancialrisk,andpointoutthefinancingrisk,inves