With the rise of digital technology in the new era, it has brought about huge fluctuations in the external environment of manufacturing companies. In the environment of external turbulence, the survival and development of manufacturing enterprises need to be further explored, and manufacturing enterprises need to carry out business model innovation to gain competitive advantage and broaden market share. This paper uses linear regression to explore the impact path of digital technology application on business model innovation in manufacturing enterprises, finds that digital capability plays a mediating role in the impact of the application of digital technology on business model innovation. It also explores the moderating role of organizational flexibility in the impact of application of digital technology on digital capability.