Meeting of the Central Financial and Economic Commission has set the tone to “put the real economy first and prevent the transition from real economy to virtual economy”. However, the trend of “real economy to virtual economy” is relatively obvious. Based on the research background of China's real economy, this paper takes China's non-financial enterprises from 2007 to 2019 as research samples to explore the relationship between the financialization of real enterprises and the accuracy of analysts' earnings forecasts. The research shows that the financialization of real enterprises significantly reduces the accuracy of analysts' earnings prediction. Mechanism test shows that enterprise financialization reduces the accuracy of analysts' earnings prediction by reducing the transparency of enterprise information. Further research shows that good corporate governance and high-quality external independent audit can weaken the negative impact of corporate financialization on the accuracy of analysts' earnings forecast, while institutional investors' shareholding will strengthen its negative effect. The research in this paper enriches the economic consequences of enterprise financialization from the perspective of capital market information intermediary, and has certain enlightenment to improve the information efficiency of capital market.