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Equipment manufacturing industry as an important pillar industry of the national economy, its level of development is directly related to development speed and quality of the national economy. In this paper, we put forward the concept of financial core competence of listed companies and chooses some representational financial indexes from many indexes, the weights of indexes are calculated through grey relational advantage analysis and information entropy. The evaluating model of financial core competitiveness of equipment manufacturing is established by using gray relational advantage analysis, Which resolves the problem that the weights are calculated subjectively and avoids the demands of large sample and typical distribution of former research. This model provide a new idea and method for evaluating financial core competence of equipment manufacturing listed companies.