The new quality productive forces of enterprises are the micro-level embodiment of the new quality productive forces, and they are the key to solving development challenges and promoting sustainable growth in China. How to foster and develop the new quality productive forces of enterprises has become a significant issue in the new stage of China’s economic and social development. Existing scholars have conducted extensive and in-depth analyses of the influencing factors of the new quality productive forces of enterprises from aspects such as digitalization and the capital market. However, there are few studies in the field of corporate governance, and research in the area of organizational behavior is even scarcer. The concept of top management team faultlines is introduced into the field of corporate governance from the geological concept of “faultlines”. The relationship between top management team faultlines and enterprise development has drawn much academic attention, with both promotion and inhibition theories coexisting and no consistent conclusion. The new quality productive forces of enterprises represent a new state that breaks away from the traditional development model of enterprises, which implies that the impact of top management team faultlines on the new quality productive forces of enterprises may not be simply facilitative or inhibitive, and the effects may vary at different levels of faultlines. What is the magnitude and mechanism of the impact of top management team faultlines on the new quality productive forces of enterprises? How does this impact differ in different contexts? These questions still await in-depth research. This paper empirically studies the impact of top management team faultlines on the new quality productive forces of enterprises using a sample of Chinese A-share listed companies from 2012 to 2022. The findings are as follows: (1) There is an inverted U-shaped relationship between top management team faultlines and the new quality productive forces of enterprises, with promotion first and then inhibition; (2) Managerial myopia is an important mediating mechanism through which top management team faultlines affect the new quality productive forces of enterprises; (3) The common institutional ownership of enterprises and the regional social trust level have a positive moderating effect on the inverted U-shaped relationship between top management team faultlines and the new quality productive forces of enterprises; (4) When further distinguishing the types of faultlines, task-based faultlines have a stronger inverted U-shaped impact on the new quality productive forces of enterprises than demographic faultlines; (5) In non-state-owned enterprises, high-tech industry enterprises, and enterprises in the growth and maturity stages, the new quality productive forces are more sensitive to the level of top management team faultlines. Compared with previous literature, the marginal contributions of this paper are as follows: Firstly, it enriches the research on the influencing factors of the new quality productive forces of enterprises from the perspective of corporate governance, constructs a theoretical framework for the impact of top management team faultlines on the new quality productive forces of enterprises, and expands the research in the field of organizational behavior among the influencing factors of the new quality productive forces of enterprises. Secondly, it deeply analyzes the mechanism by which top management team faultlines affect the new quality productive forces of enterprises, verifies the existence of the managerial myopia path, and further enriches the research on the influencing factors and mechanisms of the new quality productive forces of enterprises. Thirdly, it incorporates the common institutional ownership of enterprises and the regional social trust level into the research framework of the relationship between top management team faultlines and the new quality productive forces of enterprises, which helps to enrich the situational mechanism of new quality productive force research. Fourthly, most existing studies analyze the positive or negative impact of top management team characteristics on enterprise development from the perspective of a linear relationship, and there are some disputes. The research on the nonlinear and complex impact of top management team faultlines on the new quality productive forces of enterprises in this paper provides a new theoretical perspective. Finally, the research results of this paper will provide important theoretical guidance and decision-making references for the scientific construction of top management teams and the improvement of the level of the new quality productive forces of enterprises.