Abstract: The research in the field of social-technological system framework shows that the growth of an enterprise depends on the development of its technical system and administrative system. Therefore, how to improve the development level of enterprise subsystem is the key for latecomers to achieve sustainable capacity accumulation and sustainable catch-up. In view of this, this study uses the case study method to analyze the mechanism for latecomers to improve their subsystems and achieve sustainable catch-up by tracking the catch-up process of three Chinese manufacturing enterprises. It is found that: first, the catch-up action of latecomers is restricted by the development of its subsystems, and the slow development of its internal technical system and administrative system leads to the lag of technology and management; second, latecomers can improve their subsystems by carrying out technological learning and managerial learning so as to achieve capability accumulation. Third, the technical system and the administrative system influence each other, and their coordinated development is the key for latecomers to achieve capability accumulation and sustainable catch-up. The research conclusions have the following three practical implications for latecomers to implement sustainable catch-up action: first, latecomers should balance their investment in technological learning and managerial learning in order to improve their technical system and administrative system; second, latecomers should pay attention to the coordinated development of their technical system and administrative system, so as to realize the development and capability improvement of the whole enterprise system. Third, late-developing countries should provide a favorable policy environment for enterprises to carry out managerial learning, so as to encourage enterprises to pay attention to managerial learning as early as possible in order to build the management basis needed to achieve sustainable catch-up.