汽车工业产业关联度高，属于技术和资金密集型产业，负外部效应突出。在“双碳”目标背景下，传统燃油汽车向绿色新能源汽车转变已成必然战略方向，在此过程中技术创新、绿色转型和规模扩张使得汽车制造企业面临巨大的资金压力。因此，类金融模式以其融资成本低、融资流程简便和融资约束程度低等特点，在汽车制造行业得到普遍应用，这种占用供应链上下游企业资金的营运资金运营方式，在缓解本企业营运资金压力的同时，也存在较大的财务风险。基于此专题研究类金融模式下营运资金管理及财务风险问题，对上汽集团增强技术创新和绿色高质量发展具有重要意义。

论文以上汽集团为研究对象，在总结国内外相关领域研究成果及理论的基础上，分析了上汽集团类金融模式的运作及特征，从“要素-渠道”双视角分析了上汽集团营运资金管理现状及存在的问题；基于渠道视角构建评价指标体系，综合运用逼近理想解排序法和熵权法（熵权TOPSIS法），对上汽集团类金融模式下的财务风险进行评价。结果表明：（1）类金融模式下上汽集团主要占用供应链上游资金，能额外通过集团内部的金融机构吸收同业资金；（2）类金融模式下上汽集团营运资金管理主要存在采购资金占用量大、生产资金积压严重及销售资金回笼迟滞等问题；（3）近八年上汽集团财务安全度持续下降，财务风险不断增大；（4）根据研究结果，分别从营运资金管理优化和财务风险防范两方面，提出了对策建议，对类金融模式下上汽集团营运资金管理和财务风险防范具有重要的指导意义。

The automobile industry is highly interconnected, technology- and capital-intensive, and has prominent negative externalities. Under the background of "double carbon" target, the transformation of traditional fuel vehicles to green new energy vehicles has become an inevitable strategic direction, in this process, technological innovation, green transformation and scale expansion make automobile manufacturing enterprises face huge financial pressure. Therefore, with its low financing cost, simple financing process and low degree of financing constraints, the similar financial model has been commonly used in the automobile manufacturing industry, and this working capital operation mode, which occupies the funds of the upstream and downstream enterprises in the supply chain, has a greater financial risk while alleviating the pressure on the working capital of the enterprise. Based on this topic, it is of great significance to study the working capital management and financial risk issues under the similar financial model for SAIC to enhance its technological innovation and green and high-quality development.

Taking SAIC as the research object, the thesis analyzes the operation and characteristics of SAIC's similar financial model on the basis of summarizing the research results and theories in related fields at home and abroad, analyzes the current situation of SAIC's working capital management and the existing problems from the perspective of "elements-channels";  constructs the evaluation index system based on the perspective of channels, and evaluates the financial risk under SAIC's similar financial model by comprehensively applying Based on the channel perspective, the evaluation index system is constructed, and the financial risk of SAIC under the similar financial model is evaluated by comprehensively utilizing the method of approximating the ideal solution ranking and the entropy weight method (entropy weight TOPSIS method). The results show that: (1) In the quasi-financial model, SAIC mainly occupies upstream funds of the supply chain and can absorb interbank funds through additional financial institutions within the group; (2)SAIC's working capital management under the similar financial mode mainly suffers from the problems of large procurement capital occupation, serious backlog of production capital, and delayed return of sales capital; (3)In the past eight years, SAIC's financial security has continued to decline, and its financial risk has been increasing; (4) Based on the results of the study, the financial risk of SAIC was evaluated, respectively, in terms of working capital management optimization and financial risk. (4) Based on the results of the study, countermeasure suggestions are put forward in terms of working capital management optimization and financial risk prevention, which are of great significance for SAIC's working capital management and financial risk prevention under the similar financial model.

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