军民融合企业是构建一体化国家战略体系与能力的重要载体，提升其风险承担水平对实现军民融合发展战略具有关键意义，研究旨在以此为出发点，探究供应链集中度与风险承担水平之间的关系，为军民融合发展战略的推进提供支撑。对2015—2023年沪深A股军民融合上市企业的实证进行分析，研究表明，首先，供应链集中度能够提升军民融合企业风险承担，数字化转型在两者关系中起到正向调节作用；其次，供应链集中度能够通过缓解企业融资约束和降低信息不对称来提升风险承担水平；最后，供应链集中度对军转民企业和大型军民融合企业风险承担水平的提升作用更为明显。研究结论对军民融合企业通过供应链集中来提升风险承担水平具有借鉴意义。

Civil-military integration enterprises serve as core carriers for constructing an integrated national strategic system and capabilities，and enhancing their risk-taking capacity is critically significant for advancing the civil-military integration development strategy. Taking this as the point of departure， which aims to explore the relationship between supply chain concentration and risk-taking capacity， thereby providing theoretical and practical support for the further advancement of the civil-military integration development strategy. The empirical analysis of the listed civil-military integration enterprises in Shanghai and Shenzhen A-shares from 2015 to 2023 finds that： supply chain concentration can improve the risk-taking level of civil-military integration enterprises， and digital transformation plays a positive moderating role in the relationship between the two； secondly， supply chain concentration can improve the level of risk-taking by alleviating corporate financing constraints and reducing information asymmetry； furthermore， supply chain concentration has a more obvious effect on the improvement of risk-taking level of military-to-civil enterprises and large-scale civil-military integration enterprises. The conclusion of the study is that it is of reference significance for civil-military integration enterprises to improve the level of risk-taking through supply chain centralization.