Against the backdrop of the deep integration of the digital economy and the real economy, value co-creation has emerged as a key approach for enterprises to overcome development bottlenecks and achieve sustainable growth. Drawing on the Triple Bottom Line (TBL) framework, this study takes Anjoy Foods Group Co., Ltd. as a case and evaluates the effectiveness of its value co-creation practices from three dimensions: economic, social, and environmental performance. By examining the evolution and outcomes of the company's value co-creation initiatives, this study provides practical insights for frozen food enterprises and other related industries seeking to enhance sustainable development through stakeholder collaboration.