This paper uses the weighted gray correlation analysis method to select the key factors that have significant correlation with the financing capacity of enterprises in the NEEQ, by weighting the relevance of the influencing factors through the time weight vector. Then it uses the sample data of enterprises in the NEEQ from 2014 to 2016 to construct the panel data regression model, empirically analyzing the degree of impact of the selected key factors on the financing capacity of enterprises in the NEEQ. It is concluded that the financing capacity of enterprises in the NEEQ is positively correlated with their assets size and equity liquidity，and is negatively correlated with their equity concentration, among which the equity concentration has the greatest influence on the financing capacity of enterprises, followed by the equity circulation, and the smallest one is assets size.