We make the conceptual model for the state-owned holding groups from the knowledge transfer’s perspective of the explanatory variable, moderating variable and controlling variable. We also make the theoretical assumption. We did a survey in Hunan and reached the following conclusions: i) tacit knowledge has a negative impact on the success of knowledge transfer; ii) knowledge of the main factors involved in the successful transfer of knowledge has a positive impact, by affecting, in decreasing order, motivation of the receiver, transfer side will, absorptive capacity and sending capacity; iii) organizations supporting has a positive effect on the motivation of the receiver, absorptive capacity and sending ability of transfer and so does the interpersonal trust; iv)educational background of staff exerts effect on the success of knowledge transfer effect, while the gender, age, technical level and duration of work do not.