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blank line] Manufacturing industry is undergoing a critical stage of transformation and upgrading toward high-quality development. Financial slack, the adoption of Industry 4.0-based technologies, and the enhancement of green innovation capabilities are regarded as crucial drivers of sustainable growth. Drawing on panel data of Chinese manufacturing firms listed between 2014 and 2023, this study constructs a mediation model to explore how financial slack influences the high-quality development of enterprises through the pathways of Industry 4.0 based technologies and green innovation. The study aims to examine whether financial slack provides the necessary resources for firms to invest in advanced technologies and green innovation, thereby indirectly fostering high-quality development. Moreover, Industry 4.0 based technologies are expected to play a pivotal role in stimulating green innovation and directly improving enterprise development outcomes. The anticipated findings will contribute to the literature on digital transformation, financial resource allocation, and sustainable innovation, while offering practical implications for manufacturing enterprises seeking to leverage financial slack, accelerate Industry 4.0 adoption, and achieve high-quality development.