The slitted shear wall structure system with permanent thermal-insulation wall form of glazed hollow beads is a new structure with thermal-insulation function in order to adapt the need of energy-saving building. As for structural character, this structure is a slitted shear wall structure, which can change the failure mode of shear walls and realize the seismic structural control. The experiments of slitted shear wall and common shear wall with different shear span ratio were carried out under low cyclic loading. The failure modes, bearing capacity, hysteretic curve, lateral stiffness and ductility of two kinds of structures were compared and analyzed. The results showed that under the vertical and cyclic loading, the lateral stiffness of slitted shear wall was 25%-35% lower than that of the common shear wall structure, whereas the stiffness degradation coefficient from yielding to failure, f1uy,, increased. Meanwhile, the slitted shear wall structure's hysteresis loops were plumper, and the energy dissipation of slitted shear wall were 1.6-1.7 times than that of the common shear wall, which showed its better energy dissipation capacity. Compared with the common shear wall, the seismic performance of the slitted shear wall was significantly improved, and the ductility coefficient increased more than 40%. As for the failure modes, the slitted shear wall had separate crack-developing zone, not so severe as the common wall. The permanent wall form had certain reinforcing action to the shear wall, which made the wall breakage with prolonged time.