Emerging technology risks constitute a "perpetual topic" in the process of human scientific and technological innovation. As a kind of "processual existence," it is urgent to clarify the process mechanism through which emerging technology risks are established from the perspective of social construction. Based on the social construction paradigm, this study constructs a processual explanatory framework, revealing that the social construction of emerging technology risks involves a process of "risk generation, risk rhetoric, and risk perception." It also presents a derivation logic where risk states gradually "externalize, objectify, and socialize" as they connect across the levels of "macro society, meso-subjects, and micro-individuals." Specifically, the generation of emerging technology risks has a clear "field" within the social system, giving rise to multiple types of risk patterns through systemic interactions. The rhetoric and interpretation of emerging technology risks are based on the strategies of multi-subject discourse construction and translation links, essentially representing a "discourse competition" for the power to interpret risks. The public's perception of risks associated with emerging technologies is a specific risk perception state formed by the interweaving of the "objective knowledge path" and the "simplified mechanism of trust" under information stimulation. The governance of emerging technology risks urgently requires logical transformation and paradigm transcendence. From a macro-structural perspective, it is necessary to adhere to the balanced logic of "systematic equilibrium," achieving "dimensional balance" and "intensity balance" among systems. From a meso-subject perspective, it is crucial to establish a collaborative logic for the division of labor among subjects, forming an "expanded knowledge community" to facilitate the integration of "public knowledge." From a micro-individual perspective, it is essential to adhere to the neutralizing logic of cognitive adaptation, bringing the public's perception of emerging technology risks "back" to a non-polarized rational space.