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在倡导绿色和高质量经济发展的背景下，国内传统汽车制造业通常是高污染和高排放，这与绿色发展理念相违背。基于绿色理念深入人心，市场结构开始发生转变。新能源汽车制造业获得了新的机遇。国内传统汽车制造业开始纷纷向新能源方向转型，而在转型过程中往往需要大量的资金，传统的融资渠道成本高、额度小以及门槛高难以满足企业发展需要，因此企业融资需要开辟一个新的道路。大型汽车制造企业为解决上述问题利用类金融模式进行吸纳资金。即主要通过利用作为供应链中的领导地位，通过自身的核心竞争力和品牌效应与上下游企业签订协议通过延迟付款和预收账款来占用上下游企业资金。企业占用无息借款使账面上留存大量的现金流，帮助企业研发，产业升级以及完成转型。

文章首先介绍了广汽集团发展历史、广汽集团类金融模式下的财务特征以及广汽集团类金融模式具体运作。其次运用功效系数法对广汽集团和赛力斯进行横向对比。接着整理广汽集团2017-2022年财务数据，从四大能力的角度通过选取财务指标分析绩效变化的原因，同时运用杜邦分析法对企业进行深层次的评价。最后得出研究结论并针对性的提出相关建议。

通过案例研究发现，广汽集团在运用类金融模式时只对其盈利能力、偿债能力和营运能力方面能有提升，但对于发展能力提升较少。同时类金融模式类金融模式会产生高财务杠杆，企业应合理配置负债结构。最后总结广汽集团使用类金融模式的经验，为其他转型新能源的车企提供经验借鉴。

In the context of advocating green and high-quality economic development, the traditional domestic automobile manufacturing industry is usually high pollution and high emissions, which is contrary to the concept of green development. Based on the green concept deeply rooted in the hearts of the people, the market structure has begun to change. The new energy vehicle manufacturing industry has gained new opportunities. The traditional domestic automobile manufacturing industry has begun to transform to the direction of new energy, and in the process of transformation often requires a large amount of funds, the traditional financing channels are costly, small and the threshold is high to meet the needs of enterprise development, so enterprise financing needs to open up a new road. In order to solve the above problems, large automobile manufacturers use quasi-financial models to absorb funds. That is, mainly by taking advantage of its leading position in the supply chain, signing agreements with upstream and downstream enterprises through its own core competitiveness and brand effect, and occupying the funds of upstream and downstream enterprises through delayed payment and advance receivables. Enterprises occupy interest-free loans to retain a large amount of cash flow on the books, helping enterprises to research and development, industrial upgrading and complete transformation.

This paper first introduces the development history of GAC Group, the financial characteristics of GAC Group's financial model, and the specific operation of GAC Group's financial model. Secondly, the efficacy coefficient method was used to make a horizontal comparison between GAC Group and Celis. Then, the financial data of GAC Group from 2017 to 2022 was sorted out, and the reasons for the change in performance were analyzed by selecting financial indicators from the perspective of four major capabilities, and the DuPont analysis method was used to conduct an in-depth evaluation of the company. Finally, the research conclusions are drawn and relevant suggestions are put forward.

Through the case study, it is found that GAC Group can only improve its profitability, solvency and operating ability when using the quasi-financial model, but it will not improve its development ability. At the same time, the quasi-financial model will produce high financial leverage, and enterprises should rationally allocate the liability structure. Finally, the experience of GAC Group in using quasi-financial models is summarized to provide experience for other car companies that are transitioning to new energy.