“Aligning industrial chains with innovation chains” is a macro-level proposition. How to translate this macro-level guiding principle into micro-level practice is a significant research question. To this end, using iFlytek as a case study and drawing on theories of social recognition and resource foundations, this study explores how the transformation of original R&D outcomes overcomes multi-stage bottlenecks and obstacles to form new industries. The study found that: (1) the transformation of original R&D outcomes into new industries must navigate the “proof-of-concept dilemma,” the “product validation dilemma,” and the “industrial validation dilemma”; (2) social recognition serves as a prerequisite for acquiring the necessary resources; (3) resource utilization and management constitute the decision-making logic for value creation. This research enriches the theoretical frameworks of social recognition theory and resource-based theory, provides a roadmap for transforming original R&D outcomes into new industries, and holds both theoretical significance and practical value.