The new crown epidemic has caused a huge impact on China's economy, and the risk of stock price collapse has always been the focus of social attention. Based on the data of China's stock listed companies in 2019, this paper studies the impact of risk on enterprise value under the impact of the new crown epidemic situation. The study found that under the impact of the epidemic, the higher risk of stock price collapse will significantly inhibit the promotion of corporate value. Further robustness test found that this conclusion was established for enterprises of different ownership, size and age. Taking into account the extreme tail effect of the risk of stock price collapse, the quantile regression method is used to further analyze and find that it is between 30% and 70%. The in quantile, the risk of stock price collapse is stronger than that of 10% quartile and 90% quartile. The conclusion of this paper not only enriches the literature in the related fields such as the risk of stock price collapse, the impact of the new crown epidemic situation and the value of the enterprise, but also has important reference value for reducing the risk of stock price collapse, reducing the impact of the new crown epidemic situation and promoting the healthy and stable development of China's capital market.