The financial restatements in China have been spreading over in recent years. The causal relationship between financial restatement and enterprise value is the top concern of the investors. Based on this, this paper examines the relationship between enterprises that occur the financial restatements and enterprise value. It finds that financial restatements are negatively correlated with corporate earnings per share and positively correlated with asset-liability ratio. This also verifies the following judgment, that is, the enterprise which has financial restatements often has the awfully creative ability.