Abstract:As a change implemented by enterprises to reshape the way of value creation, delivery and acquisition, business model innovation has attracted the attention of the government and the industry in the era of digital economy, but the existing research is rarely involved. Based on the unbalanced panel data of A-share manufacturing listed companies from 2013 to 2020, based on the theoretical analysis and empirical test of the impact of manufacturing enterprise digitization on business model innovation, this paper deeply excavates the driving mechanism differences and situational adjustment factors of enterprise digitization on business model innovation in different life cycle stages. The results show that: first, the digitization of manufacturing enterprises can significantly promote business model innovation. Second, the impact of digitalization of manufacturing enterprises on business model innovation is heterogeneous due to different life cycle stages. Third, the progress of strategic stimulation plays a negative regulatory role in enterprise digitization and innovative business model innovation, but the impact on efficient business model innovation is not significant. This paper not only enriches the literature on the consequences of enterprise digitization, but also provides a new decision-making basis for enterprise business model innovation.