Strategic emerging enterprises play a leading role in the overall and long-term development of the economy and society, and occupy an important position in the modernized economic system. Most of the existing literature studies on the influencing factors of the development of strategic emerging enterprises are based on the single factor perspective, the linkage effect among the influencing factors is rarely explored from the perspective of system theory, and the relevant empirical evidence is still lacking. Based on the special importance of technological progress in the high-quality development of strategic emerging enterprises, this paper constructs a TOE analysis framework for the high-quality development of strategic emerging enterprises from three dimensions: technological progress, organizational operation, and environmental support. Then, seven antecedent variables, namely technological innovation achievements, human capital level, digital transformation, profitability, financing constraints, government subsidies, and regional economic development level, were selected. Using 514 listed companies in China’s strategic emerging industries as samples, the fuzzy set qualitative comparative analysis (fsQCA) method was applied to examine the configuration of strategic emerging enterprises’ high-quality development. The study found that: (1) any single condition is not a necessary condition for the high-quality development of strategic emerging enterprises. Enterprises that do not have advantages in certain conditions can also achieve high-quality development; (2) the linkage and matching of each condition has an obvious configuration effect. There are substitution effects and complementary effects among some conditions, and the high-quality development of strategic emerging enterprises shows a diversified configuration (6 kinds); (3) each configuration has more than 4 core conditions and belongs to 3 dimensions; (4) there is a substitution effect between “more technological innovation achievements” and “high human capital level”. At the same time, “more technological innovation achievements” and “high level of human capital” can make up for the disadvantages of organizational operation. It shows that technological progress plays an important role in the high-quality development of strategic emerging enterprises; (5) “low financing constraints” and “high government subsidies” are the core conditions for the high-quality development of strategic emerging enterprises, indicating that strategic emerging enterprises need sufficient funds and government support to achieve high-quality development; (6) “fewer government subsidies” is the core condition for non-high-quality development of strategic emerging enterprises. It further indicates that the high-quality development of strategic emerging enterprises needs to be supported by the government. Compared with the existing literature, this paper studies the high-quality development of strategic emerging enterprises from the perspective of configuration. It can explain the linkage and matching effect of various factors and reveal the complex causal relationship behind the phenomenon of “all paths to the same destination”. At the same time, fsQCA analysis based on China’s listed companies provides empirical evidence for the diversified configuration of high-quality development of strategic emerging enterprises. It is helpful for enterprises and governments to adopt differentiated strategies to promote high-quality development in a “different way, same point” manner. This study shows that it is a complex and systematic process for strategic emerging enterprises to achieve high-quality development. Enterprises should make full use of the substitution effect and complementary effect between the antecedent conditions to better play the overall configuration effect, and continue to promote diversified and high-quality development. The government should give priority to promoting technological innovation and easing financial pressure, and actively support and promote the high-quality development of strategic emerging enterprises.