Chainleading enterprises cultivate future industries through the futureoriented transformation of existing industries. Nevertheless, they are confronted with the challenge of ecological leapfrogging in nurturing future industries out of existing industries. A case study of Sany reveals the following findings: (1) Chainleading enterprises follow the strategic logic of ecosystem architects for future industries. During the ecological sowing, construction and expansion stages, they need to cross the Devil’s River of productization, the Valley of Death of commercialization, and the Darwinian Sea of scalingup. Nonlinear leapfrogging of the innovation ecosystem of future industries is critical to bridging these chasms. (2) Through the dynamic adaptation of technology anchored to scenarios, rapid iteration driven by scenario feedback on technology, and the coevolution enabled by innovationnetwork orchestration, chainleading enterprises achieve the spiral leapfrogging of the futureindustry ecosystem underpinned by the synergy of “technologyscenarionetwork”. The theoretical contributions of this paper lie in exploring the unique path of nurturing the new within the old and revealing the ecological leapfrogging mechanisms of the futureoriented transformation of existing industries.