High interest loans have characteristics of unsustainability, sacrifice of firms innovation activities, and high risks. These characteristics may lower the quality of firms accounting information. In this article, we find that the firms which engage in high interest entrusted loans have lower earnings persistence. Further analysis shows that the low earnings persistence is mainly caused by low main business earnings persistence. The earnings value relevance analysis shows that, for firms which engage in high interest entrusted loans, earnings are less relevant to stock price and non core business earnings has no higher value relevance. These results indicate that high interest entrusted loans business does not substantially change investors perceptions to the company stock.