The molten metal droplet printing technology can effectively realize a precise preparation of complex electronic devices at the micro scale by relying on the metallurgical bonding among the tiny molten metal droplets, which can improve the metallographic structure and mechanical properties of the fabricated parts. In this paper, the interaction process between metal droplets and movable substrates during the preparation of electronic devices is studied based on the coupled level set volume of fluid method (CLSVOF) and equivalent heat capacity method. The influence of the micro-bubbles and wall infiltration characteristics on the impingement spreading flow of metal droplets and their heat transfer cooling process is also investigated. The evolution mechanisms of droplet geometry and the distribution characteristics of droplet internal temperature and heat flow density during the impingement spreading process are discussed. The mechanism of high-temperature region formation under superhydrophobic wall conditions is analyzed. Results show that the microbubbles inhibit the spread of molten metal droplet. Under the same conditions, the spreading radius of hollow metal droplet is smaller than that of solid droplet, and their spreading height is higher than that of solid droplet. Different wall infiltration characteristics have similar degrees of influence on the spread of solid and hollow droplets. A larger wall contact angle for the same impingement mode at the same moment corresponds to a smaller droplet spreading radius and the higher the spreading height. With the participation of microbubbles, the heat transfer cooling process inside metal droplet becomes slow and demonstrates a less uniform temperature and heat flow density distribution. A high-temperature region is easily formed inside droplet under superlyophobic wall conditions, which triggers an uneven heat transfer cooling process at the bottom of the droplet. The results benefit to reveal the law of metal microdroplet impingement molding on different working surfaces and provide a theoretical reference for the preparation of electronics-related devices.