Embodiments of the present application provide a parameter indication method and parameter determining method, a receive device, and a transmit device. The parameter indication method includes: generating indication information for each of a plurality of antenna panels, where the indication information is used to indicate an adjustment parameter of the antenna panel, and the adjustment parameter includes at least one of an amplitude adjustment parameter and a phase adjustment parameter; and sending the indication information. The embodiments of the present application further provide a parameter determining method, a receive device, and a transmit device. In the technical solutions provided in the embodiments of the present application, adjustment parameters of the plurality of antenna panels are fed back to adjust the plurality of antenna panels, so that a precoding vector constructed based on the plurality of antenna panels is more accurate.