Abstract:Adopting cloud services is a key step in the digital transformation of small and medium-sized manufacturing enterprises. Based on the Unified Theory of Acceptance and Use of Technology (UTAUT) and the Value-based Acceptance Model (VAM), this paper uses Structural Equation Model and Bootstrap method to explore the influencing mechanism of the adoption intention of cloud services in small and medium-sized manufacturing enterprises. The results show that: performance expectancy, effect expectancy, facilitating conditions and social influence have a positive and significant impact on perceived value; perceived risk has a negative and significant impact on perceived value and adoption intention, while effect expectancy and social influence have no significant impact on adoption intention; perceived value has a mediating effect, and effect expectancy and social influence indirectly affect adoption intention through perceived value. The research conclusions provide practical guidance for small and medium-sized manufacturing enterprises in terms of cloud service construction, organizational guarantee, policy formulation, and other aspects.