Abstract. For the early stages of the industry's product lifecycle, following the example of the rapid re-entry of the market through the value of the enterprise will foster market competitiveness. This study attempts to explore the viable path of value reconstruction of Baosteel through case study [1]. The path breaks the limitations of the original internal innovation of the enterprise, placing value innovation, understanding, creation and delivery in a network system. At present, the research on product value innovation focuses on internal innovation, and the research on external value network acquisition of innovation source is rare.