High quality development of enterprises requires high-quality asset structure allocation. The current asset structure of many enterprises does not conform to the characteristics of their own industry development, deviates from the allocation method of obtaining the optimal output of limited assets under the original strategy, and forms a mismatch in the enterprise asset structure. This article uses data from A-share listed companies in China from 2010 to 2020 as a sample to study the impact of asset structure mismatch on high-quality development of enterprises, as well as the moderating effect of board characteristics such as board independence, dual roles of chairman and general manager, and gender diversity on the relationship between asset structure mismatch and high-quality development of enterprises. The research results indicate that asset structure mismatch inhibits high-quality development of enterprises, and is significant in both state-owned and non-state-owned enterprises; The independence of the board of directors suppresses the negative impact of asset structure mismatch on the high-quality development of enterprises; The dual roles of chairman and general manager exacerbate the negative impact of asset structure mismatch on the high-quality development of enterprises; In the full sample and state-owned enterprise sample, gender diversity of the board of directors has a significant negative moderating effect on the relationship between asset structure mismatch and high-quality development of enterprises, while it plays a positive moderating role in non-state-owned enterprises, but not significantly. Further research has found that the negative impact of asset structure mismatch on high-quality development of enterprises is significant in the sample of innovative and non innovative enterprises, high and low financing constraint intensity enterprises, as well as before and after the implementation of high-quality development strategies. The impact is greater in the sample of non innovative enterprises, low financing constraint intensity enterprises, and after the implementation of high-quality development strategies. The research conclusion provides empirical evidence for preventing the risk of asset structure mismatch, optimizing the composition of the board of directors, and enhancing the high-quality development level of enterprises.