diff --git a/frontend/packages/web/src/components/business/crm-formula/formula-runtime/formula-executor/evaluator.ts b/frontend/packages/web/src/components/business/crm-formula/formula-runtime/formula-executor/evaluator.ts
index 002b941cb..fc6220986 100644
--- a/frontend/packages/web/src/components/business/crm-formula/formula-runtime/formula-executor/evaluator.ts
+++ b/frontend/packages/web/src/components/business/crm-formula/formula-runtime/formula-executor/evaluator.ts
@@ -1,3 +1,4 @@
+import { FieldTypeEnum } from '@lib/shared/enums/formDesignEnum';
 import { IRNodeType } from '@lib/shared/enums/formula';
 
 import {
@@ -81,7 +82,16 @@ function parseDateWithPrecision(raw: string | number | Date): number {
 
 export function resolveFieldValue(rawVal: any, node: IRNode, ctx?: EvaluateContext): any {
   const meta = node.type === 'field' ? ctx?.getFieldMeta?.(node.fieldId) : undefined;
-  if (rawVal == null || rawVal === '') {
+
+  const isEmptyString = typeof rawVal === 'string' && rawVal.trim() === '';
+  const isEmptyValue = rawVal == null || rawVal === '' || isEmptyString;
+
+  if (isEmptyValue) {
+    // 只有流水号字段，在取不到值时保留占位符 ${name}
+    if (node.type === 'field' && meta?.fieldType === FieldTypeEnum.SERIAL_NUMBER) {
+      return `\${${ctx?.getFieldMeta?.(node.fieldId)?.name || node.fieldId}}`;
+    }
+
     if (meta?.valueType === 'date' || meta?.valueType === 'number') {
       return null;
     }
diff --git a/frontend/packages/web/src/components/business/crm-formula/formula-runtime/formula-executor/index.ts b/frontend/packages/web/src/components/business/crm-formula/formula-runtime/formula-executor/index.ts
index 01df0cdce..535aaccc7 100644
--- a/frontend/packages/web/src/components/business/crm-formula/formula-runtime/formula-executor/index.ts
+++ b/frontend/packages/web/src/components/business/crm-formula/formula-runtime/formula-executor/index.ts
@@ -33,6 +33,8 @@ export function getValueType(field: FormCreateField): ValueType {
 function buildFieldTypeInfo(field: FormCreateField): FieldMeta {
   return {
     valueType: getValueType(field),
+    fieldType: field.type,
+    name: field.name,
     ...(field.type === FieldTypeEnum.INPUT_NUMBER
       ? {
           numberType: field.numberFormat === 'percent' ? 'percent' : 'number',
diff --git a/frontend/packages/web/src/components/business/crm-formula/formula-runtime/types.ts b/frontend/packages/web/src/components/business/crm-formula/formula-runtime/types.ts
index 90be7fb13..2ad5b58ed 100644
--- a/frontend/packages/web/src/components/business/crm-formula/formula-runtime/types.ts
+++ b/frontend/packages/web/src/components/business/crm-formula/formula-runtime/types.ts
@@ -1,3 +1,4 @@
+import { FieldTypeEnum } from '@lib/shared/enums/formDesignEnum';
 import { IRNodeType } from '@lib/shared/enums/formula';
 
 import { FormCreateField } from '@/components/business/crm-form-create/types';
@@ -54,6 +55,8 @@ export type ValueType = 'number' | 'string' | 'boolean' | 'date' | 'unknown';
 
 export interface FieldMeta {
   valueType: ValueType;
+  name: string;
+  fieldType: FieldTypeEnum;
   numberType?: 'number' | 'percent';
 }