This paper explores the impact and mechanism of shared audit on enterprise value by studying the supply chain enterprises of China's A-share listed companies from 2011 to 2019. The result shows that shared audit can promote enterprise value, and the more people analysts follow, the more remarkable the promotion effect of shared audit on enterprise value. Further research reveals that shared audit mainly affects enterprise value by reducing information asymmetry and inhibiting manipulation behaviors of earnings. This research provides a new perspective for the study of enterprise value, and serves as a reference and inspiration for the promotion of high-quality development of the capital market.