“传承”与“创新”一直是困扰老字号品牌发展的两难问题。本研究采用双案例研究方法，以天津市山海关饮料有限公司和山东宏济堂制药集团股份有限公司休眠品牌复苏历程为分析对象，基于本真性价值创新，解析山海关与宏济堂休眠品牌从休眠走向复苏的过程及其内在机制。研究发现：（1）提出“本真性价值创新”这一聚合构念，“本真性”暗含传承之意，“价值创新”则表征重塑逻辑，将老字号品牌发展中的两难问题统筹到一个单一概念体系中。（2）基于“本真性价值创新”的休眠品牌复苏机制呈现为“品牌本真性要素识别一品牌本真性价值创新一品牌资产重塑”的模型。其中，品牌本真性价值创新包括功能价值创新（品质价值创新）、表征价值创新和体验价值创新。（3）长休眠品牌复苏路径为探索式价值创新的渐进复苏路径，表现为弱认知品牌资产；而短休眠品牌复苏路径为利用式价值创新的跳跃复苏路径，表现为强认知品牌资产。

"Inheritance" and "innovation " have always been a dilemma that plagues the development of time-honored brands. This study adopts a double case study method, taking the dormant brand revival process of Tianjin Shanhaiguan Beverage Co., Ltd. and Shandong Hongjitang Pharmaceutical Group Co., Ltd. as the analysis object. Based on authentic value innovation, this study analyzes the process and internal mechanism of Hongjitang and Shanhaiguan dormant brands from dormancy to revival. The research found that: (1) the concept of "Authentic Value lnnovation" is proposed, where "authentic" implies inheritance, and "value innovation" represents the logic of reshaping, and this concept coordinates the dilemmas in the development of time-honored brand names into a single conceptual system; (2) the dormant brand revival mechanism based on authentic value innovation is presented as "brand authentic element identification-brand authentic value innovation-brand asset reshaping". Among them, brand authenticity value innovation includes functional value innovation (quality value innovation), representation value innovation and experience value innovation; (3) the long-dormant brand revival path is an exploratory value innovation gradual revival path, which is manifested as weak cognitive brand assets, while the short-dormant brand revival path is an exploitative value innovation leapfrog revival path, which is manifested as strong cognitive brand assets.