According to announcements of audit result of financial income and expenditure of central enterprises from 2010 to2018，this paper examines the impact of state audit on inflated revenue of listed companies held by central enterprises.The empirical results show that state audit can significantly inhibit the inflated revenue of listed companies controlled by state-owned enterprises，This effect exists in both audit and announcement years.After alleviating endogenous problems by PSM，the above result still holds.Further research found that the more accounting problems and management problems disclosed in the announcement of state audit results，the more significant the effect of state audit on restraining inflated revenue of listed companies controlled by state-owned enterprises.However，other issues disclosed in the announcement do not affect the earnings manipulation of listed companies controlled by state-owned enterprises.