This paper constructs an index system from both subjective and objective perspectives to comprehensively measure the degree of transition risk exposure,and evaluates and defines the industries and enterprises supported by transition finance.Through text mining,the information of enterprise websites and environmental reports is introduced to enrich the data context,and the entropy weight TOPSIS method is used to measure the risk exposure of enterprise transformation and diagnose obstacle factors.The results show that there is a negative correlation between objective risk exposure and subjective risk exposure,that is,enterprises with higher objective risk exposure have higher willingness and ability to transform in general,subjective and objective risk exposure is heterogeneous among enterprises,and enterprises can be classified according to different dimensions of exposure,and subjective risk exposure is the highest obstacle factor,which should be widely paid attention to in enterprise risk management.