In recent years, there has been a growing interest in the quasi-financial model within the garment industry. This study focuses on Heilan Home Group Co., Ltd. as a case study, delving into an analysis of Heilan Home’s financial statement data from the past five years. It elucidates the financial attributes exhibited by enterprises following financial backing through the quasi-financial model, offering a comprehensive insight into the characteristics and potential risks associated with adopting quasi-financial strategies in the apparel industry. This examination is achieved through a thorough examination of the model’s advantages and disadvantages. Ultimately, this study aims to furnish the garment industry with a solid theoretical foundation for utilizing the quasi-financial model.
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