Under the digital economy, traditional manufacturing enterprises(TMESs)need to promote the exploitation of opportunities through digital transformation, so as to achieve high-quality development. Taking Gongniu Group as a case, this paper studies the opportunity exploitation process under the digital transformation of TMESs from the perspective of dynamic capability. The findings are as follows: Channel digital transformation forms digital-driven network effects, improves the organization''s ability to perceive the external environment, and realizes opportunity identification through resource construction actions; Production digital transformation forms digital-driven synergy of production and marketing, improves the organization''s ability to acquire resources, and realizes the utilization of opportunities through resource activation actions; The digital transformation of business model forms a digital-driven symbiotic effect of interests, improves the ability of organizational value reconstruction, and realizes opportunity iteration through resource leveraging behavior. The results reveals the process of opportunity exploitation under digital transformation, helps to enrich the related researches on digital transformation and opportunity exploitation, and also provides some useful enlightenments for the digital transformation and high quality development of Chinese traditional manufacturing enterprises.