Abstract With the exploratory case study method and based on the theories of customer engagement and value co-creation，this study took Xiaomi community as example to discuss the influence mechanism of customer engagement to value co-creation in virtual brand community. The result reveals that virtual brand community is a typical platform to realize value co-creation through systematic process of “motive-process-result”. The results also show that customer readiness and community identity are motivation factors of customer engagement in virtual brand community，and promote customer engagement at individual and group level respectively. The customer engagement is the foundation for value co-creation through a systematic process of psychological，behavioral and social factors. The customer engagement promotes customer value and customer loyalty，while customer value also directly promotes customer loyalty，thus realizing dual property of customer and enterprise value.
