以蚂蚁商联零售生态系统为案例研究对象，引入生态系统编排视角，系统探讨联盟主导型产业生态系统的价值共创实现机制。研究发现：联盟主导型产业生态系统在结构上具有3层嵌套特征，核心组织层、联盟成员层和生态边缘层共同构成多主体交互基础；联盟组织通过生态系统编排与不同层级参与者实现融合式、交互式和互补式价值共创；作为一种独特需求主体，联盟与其他需求主体在价值共创的多个维度上存在显著差异。

Based on a case study of the Ant Alliance Retail Ecosystem, this study adopts the ecosystem orchestration perspective to systematically explore the mechanisms through which value co-creation is realized. The findings reveal that alliance-led industrial ecosystems exhibit a three-layer nested structure, wherein the core organization layer, alliance member layer, and ecosystem periphery layer interlock to form the foundation for multi-actor interaction; alliance organizations achieve integrative, interactive, and complementary value co-creation with participants across different layers via ecosystem orchestration; as a distinctive demand-side subject, alliances demonstrate significant differences from other demand-side actors across multiple value co-creation dimensions.