陆续公布的半年报显示，上半年房地产企业近六成出现利润下滑或亏损。

Published in the half annals display，Real estate enterprise nearly sixty percent in the first half appear falling profits or losses。

　　在以价换量渐成市场主流的情形下，部分房企的半年报中却呈现量价背离的状况。有专家指出，在长时间的严格调控下，房企融资成本正在不断上升。由于目前楼市尚存在诸多不确定性，下一步应警惕房企资金趋紧而带来的金融风险。

In order to change gradually into the market price of the mainstream of the case，Part of the annual report and a half high room but there from the status of the quantity and price。The expert points out，In the long time of strictly under control，Room enterprises financing costs are rising。Because the present market still has many uncertainties，The next step should be vigilant the room enterprises' capital brought the financial risk。

　　日前发布的《2012中国房地产上市公司TOP10研究报告》显示，沪深上市房地产公司的资产负债率与有效负债率近年来持续攀升，2011年达到4年来的高点。截至2011年末，沪深上市房地产公司的资产负债率和有效负债率均值分别达63.43%和50.38%，债务压力进一步加重。

To released the《2012 China real estate listed company TOP10 research report》shows，Shanghai real estate company listed to asset ratio and effective leverage in recent years continue to rise，2011 up to 4 years of high。At the end of 2011，Shanghai real estate company listed to asset ratio and effective mean ratio of 63.43% and 50.38% respectively，Debt pressure accentuate further。

　　据新华网报道，而在负债水平攀升的同时，房地产上市公司的短期偿债能力也趋于弱化，进一步削弱了资产流动性，加剧了资产减值带来的经营风险。中国指数研究院分析认为，目前近70%的房地产上市公司经营现金呈现“入不敷出”状况，行业整体运行风险加速累积。

According to xinhua，And in debt levels rise at the same time，Real estate of the listed company of short-term debt paying ability, tend to be weakening，Further weakening liquidity，Increased with the management risk of asset impairment。China index academy that analysis，Now nearly 70% of real estate listed companies operating cash present“Make ends meet”status，The whole trade operation risk accumulated acceleration。

　　针对下半年市场走势，中指院认为，上市房地产公司将更多地聚焦于深化调整价格策略、创新营销手段。在坚持调控不放松的背景下，采用灵活的销售策略缓解不断攀升的库存压力，加快资金回笼速度，依然是开发商当前亟待完成的艰巨任务。

In the second half of the market trends，Middle finger court think，Real estate public company will be more focused on deepening the price adjustment strategy、Innovative marketing means。On the background of regulation not to relax，Flexibility in the sales strategy ease rising inventory pressure，To speed up the money collecting speed，Still needs to be done is the developer of the task。

　　上半年近6成房地产企业利润下滑

Nearly six into real estate enterprise in the first half of declining profits

　　分析称“以价换量”致房企利润率下滑

Analysis says“To change the price of”The room stand falling margins

　　（《证券时报》快讯中心）

（《Securities times》Dispatch center）