Taking A-share listed companies from 2013 to 2020 as research samples, this study explores the impact of digital transformation on corporate performance from both information disclosure and investment perspectives. Findings show there is an inverted U-shaped relationship between digital transformation information disclosure and corporate performance, highlighting the moderate disclosure of digital information. Moreover, digital transformation investment is positively related to corporate performance, indicating the potential for enhanced performance through such investments. These conclusions are upheld following rigorous testing. Further analysis reveals that in firms garnering high analyst attention, the influence of digital transformation information disclosure on corporate performance is notably pronounced. Internal control plays a mediating role in the way digital transformation investment affect corporate performance.