PurposeThe purpose of this study is to explore the knowledge network-based intellectual capital of corporate universities and its co-evolution process with knowledge management activities.Design/methodology/approachAn exploratory and multiple case study was conducted, investigating three Chinese corporate universities. Grounded theory was used for data analysis.FindingsThis paper finds that the intellectual capital of corporate universities comprises teacher network capital, knowledge process capital and knowledge ba. The steering wheel model is established through the synergistic interaction and promotion among these three types of intellectual capital. The interaction between intellectual capital and the knowledge network within corporate universities constructs the intellectual capital network, which plays the roles of coordinator, knowledge gatekeeper and innovation bridge. The intellectual capital of corporate universities is characterized by sequential inertia. Moreover, the intellectual capital and intellectual capital network are aligned with knowledge management activities at each stage of corporate university development, interacting and following the principles of ladder evolution.Originality/valueA significant contribution of this paper lies in applying the concept of intellectual capital within the fourth-stage ecosystem to a broader range of knowledge networks. By exploring the dynamics and network of intellectual capital in corporate universities, especially the role of intellectual capital networks and the synergy between intellectual capital and knowledge management activities, this study enriches the existing research on knowledge management and intellectual capital of corporate universities. Furthermore, it advances the development of knowledge management promotion in corporate universities from a new perspective of intellectual capital.