From the perspective of firm capability, this study explores the impact of digital intelligence transformation and management innovation on the performance and sustainable development of Chinese firms. On the basis of constructing an evaluation index system of firm digital intelligence transformation and management innovation, a comprehensive evaluation model of firm digital intelligence transformation and management innovation is constructed via the analytic network process (ANP) and fuzzy comprehensive evaluation method. Taking Chinese film and television firms as an example, this study selects 160 data samples from 85 firms and constructs a structural equation model to empirically analyze the impact of digital intelligence transformation and management innovation on the performance of firms. The study results show that, in the context of digitalization and intelligence, firm digital intelligence capability and dynamic capability have a significant positive effect on firm performance. Firm digital intelligence transformation and management innovation directly impact performance and can play a role through firm digital intelligence capability and dynamic capability as intermediaries, and the chain intermediary effect of digital intelligence capability and dynamic capability is significant. The research results show that firm digital intelligence and dynamic capabilities provide a functional path for firm digital intelligence transformation and management innovation to improve performance. Moreover, the innovative application of digital intelligence technology has an important impact on the sustainable development of firms. Digital transformation and management innovation can help firms enhance their ability to manage environmental uncertainties, improve firm performance and foster the achievement of sustainable development goals.