Due to the shortage of creative talents and inefficient resource allocation mechanisms, Jiangxi Yanshan Liansi Paper, a traditional intangible cultural heritage product, is facing the challenge of low efficiency and insufficient motivation for sustainable innovation. The work aims to propose a designer-led co-creation strategy to bridge this knowledge gap based on the research on the status quo of stakeholders' collaboration and diverse needs. Through literature review, in-depth interviews, and surveys, the specific roles of stakeholders were defined and Social Network Analysis (SNA) was employed to identify their collaboration relationships, network positions, interaction quality, and urgent needs. Based on the analysis of collaboration and need networks, five collaborative subgroups were identified, and a designer-driven co-creation strategy for stakeholders was proposed. The collaborative co-creation strategy matching the abilities and needs of stakeholders will not only help the intangible cultural heritage in its living transmission, but also provide practical reference for the effective use of resources and the empowerment of innovation power in the innovation ecology of intangible cultural products.