This paper investigates Huaheng Biotech to examine its trajectory of process innovation-driven process transition through the lens of dynamic capabilities theory. Findings reveal three evolutionary stages: ①the start-up period (chemical→biochemical process transition), growth period (biochemical→biological process breakthrough), maturity period (single-product→multi-product biological process expansion); ②each stage undergoes dynamic capability iteration (sensing→seizing→integrating→implementing capabilities); ③ the enterprise’s process innovation follows a progressive path: from external technical guidance to technology-equity-based application deepening, and finally to self-reliant R&D for independent control.