This paper investigates financial distress in China's manufacturing in some listed companies with multivariable discriminate analysis (MDA) and multivariable logistic analysis (MLS),taking the sample of 109 ST companies and 109 healthy companies of the same size in pair (2002-2006) as referrence.It is concluded that variables reflecting a company's capability of profit,cash flow and share holders' gain play an important role in prediction.And of all,MLA gets better accuracy in prediction.