The invention discloses an electric energy monitoring and early warning system based on 5G and a modified GCN graph neural network, and the system comprises an intelligent electric meter and a serverterminal. The intelligent electric meter collects the current value of a flowing line through a mutual inductor, and the intelligent electric meter is internally provided with a 5G module, and transmits the collected current information to the server terminal; the server side gathers the current data of the factory, the production workshop, the production line and the key equipment, and performs comprehensive analysis in combination with the factory production data. According to the invention, the mutual inductor is adopted to monitor the value of the current flowing through the electric wire,and the monitored data is sent to the cloud server by using the 5G network for the first time, so that the problem of factory wiring is avoided, the problem of mutual isolation of links such as factory power utilization measurement and monitoring is solved, and centralized monitoring and centralized management of factory power utilization monitoring are realized.