Abstract: Digital business model innovation is of great significance to promote the high-quality development of China's digital economy, and has become an important concern of enterprise practice and academic research. However, there are also some problems in the implementation process of digital business model innovation. Among them, the internal subjects of enterprises lack the digital business model innovation identification, such as the lack of digital sensitivity of leaders, the lack of digital cognition of employees, and the introduction of new digital technology requires employees to change their original cognition and behavior, which leads to resistance of employees. It is an important reason that hinders the development speed and depth of digital business model innovation. Therefore, the high, middle and grassroots personnel of enterprises need to recognize the digital business model innovation in cognition, in order to promote the successful implementation of digital business model innovation. Most current researches on digital business model innovation focus on value elements to explore how executives and organizations design, layout and apply digital business model innovation, but relatively ignore how actors at all levels of enterprises identify with digital business model innovation. The lack of identification at any level can hinder the implementation of digital business model innovation. In addition, digital business model innovation identification involves cognitive changes among employees. The current research on business model innovation from the cognitive perspective includes two different perspectives: "leadership top-down" and "employee bottom-up". From these two perspectives, it can be seen that both "top-down" and "bottom-up" business model innovation exist in organizations. Especially in the context of digitalization, organizational power gradually evolves from the centralization of senior executives to the decentralization of grassroots, and personnel at all levels of the organization can play an important role as innovators in the innovation of digital business models. Therefore, this paper uses the case study method to explore the "top-down" and "bottom-up" evolution process of digital business model innovation identification, and finally summarizes and reveals the internal mechanism of digital business model innovation identification from the perspective of two-way cognitive evolution. The research finds that, first, digital business model innovation identification has dynamic evolution, and its evolution revolves around the three stages of "creative identification-application identification-lean identification". Second, the core process of digital business model innovation identification is the evolution of individual cognition to organizational cognition, but individual cognition not only originates from senior executives, but also may originate from middle and low-level employees, resulting in two cognitive evolution chains. The top-down cognitive evolution chain of digital business model innovation identification is "executive cognitive initiation - middle level cognitive penetration - employee cognitive coupling". The bottom-up cognitive evolution chain of digital business model innovation identification is "employee cognitive emergence - middle level cognitive response - executive cognitive embedment". Third, middle managers play an important role in the evolution of digital business model innovation identification. They can not only pass down the perceptions and ideas of executives, but also combine first-line ideas with their own perceptions to create new value propositions that drive the implementation of digital business model innovation. Fourth, the "two-way" digital business model innovation and the "two-way cognitive evolution" perspective of digital business model innovation identification are more suitable for the application and deepening of enterprise digital business model innovation in the context of "digital China".