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In the 21 century, with the impact of economic globalization, the aggravation of market competition, enterprises are facing unprecedented challenges and intense competitive pressure.It is common to see the enterprises get into trouble and even bankrupt for financial crisis.The article makes an empirical study on the Z-score application of financial pre-warning in our manufacturing listed companies, based on other studies in this field.The article takes 13 ST companies from A share manufacturing listed companies and 13 non-ST companies as study samples to test its applicability in these companies.The article also analyses the application of Z-score model in China from the perspective of theory and practice.And lastly, combining the actual situation in our country the article gives suggestions on improvement and application of this model.