The development of manufacturing industry affects the operation of Chinese economy, and it is necessary to study the possible configuration paths of servitization transformation to support sustainable development. Based on previous studies of manufacturing servitization transformation, it is extended to explore multifactor combinations which affects servitization transformation performance. This paper constructs technology-organization-environment (TOE) framework of servitization transformation performance evaluation and uses fuzzy-set Qualitative Comparative Analysis (fsQCA) method to analyze the key factors and mechanism of servitization transformation with the data of 28 Chinese manufacturing enterprises. The results reveal that the six major factors are not the necessary conditions, and single-factor cannot effectively promote servitization transformation of Chinese manufacturing enterprises. There are four configurations which can be divided into three paths to improve servitization transformation performance. Based on the results of analysis, it proposes strategies to promote the development of Chinese manufacturing enterprises, such as developing targeted servitization strategies, enhancing technology development, and improving technology applications. The findings reveal the mechanism of multiple factors behind the evolution of manufacturing servitization transformation and take useful suggestions for the high-level development of Chinese manufacturing enterprises.