<p>The digital transformation is profoundly influenced by the interplay between capital intensity and technological innovation, driving an accelerated shift toward intelligence and efficiency. Based on data from A-share listed companies in China from 2011 to 2022, this study examines how capital intensity and technological innovation facilitate this transformation. The findings indicate that capital intensity serves as an effective bridge connecting technological innovation and enterprise digitalization. Furthermore, the heterogeneity of firm ownership reveals a significant advantage for private enterprises in the digital transformation process, while regional disparities may further amplify this competitive edge.</p>