From vertical and horizontal dimensions, this paper investigates the performance following private placements of the listed companies which finished private placements between May 8, 2006 and December 31, 2007. It measures corporate performance with principal component analysis. The empirical results show that the listed companies experience no improvement in post-offering operating performance. And they also don't perform significantly differently compared with the non-issued companies matched by industry, asset size and performance or comparing with the companies offering public placements. Private placement may become a new method of interests grabbing. Therefore it need strengthen the supervision on listed companies which offers...