In recent years, Chinese pharmaceutical enterprises have faced various pressures to reduce costs and increase efficiency from within and outside the company. Digital transformation has become a popular response for many companies, and the attention to the value of digital transformation has also increased. Harbin Pharmaceutical Group, as an industry representative, has used digital technology to improve its business level and operational performance through digital transformation under such circumstances. Its successful experience has certain reference significance for understanding the value of digital transformation in pharmaceutical enterprises. Research shows that Harbin Pharmaceutical Group has made efforts to complete digital platform integration, strengthen online and offline coordination, and carry out business innovation transformation in terms of driving, empowering, and supporting dimensions through the preparation stage before digital transformation, digital transformation exploration stage, and digital transformation upgrade stage. To verify the impact of digital transformation on the financial performance of the enterprise, this section analyzed the changes in financial indicators such as operational capability, profitability, and debt repayment ability of Harbin Pharmaceutical Group before and after transformation and in different transformation stages through longitudinal comparison. To control other factors that may affect the financial performance of the enterprise, this article takes another enterprise (Health Element Company), which is similar in size, business, and market but has not undergone digital transformation, as the control group. Through comparative analysis, the relationship between digital transformation and financial performance of the enterprise was further examined. The results showed that digital transformation improved the relevant indicators of operational capability, profitability, and debt repayment ability of Harbin Pharmaceutical Group and had a positive impact on the financial performance of the enterprise.