定向增发作为一种新兴的融资方式对大小股东利益的协调及我国资本市场的全面发展,具有重大意义,但是在现阶段相关法律和监管措施还未健全的情况下,定向增发无疑是一把“双刃剑”。本文以三一重工为例,通过案例研究法和图表分析法对定向增发利益输送问题进行研究。 Private placement as a new way of financing the interests of large and small shareholders and the overall development of China’s capital market is of great significance, but at this stage related laws and regulatory measures are not yet perfect, the case of private placement is undoubtedly a “Double-edged sword.” In this paper, Sany Heavy Industry, for example, through the case study and chart analysis of the issue of private placement benefit transfer research.