A reference signal sending method, the method being performed by a transmit end and comprising: obtaining a frequency-domain cyclic shift factor and a time-domain cyclic shift factor, wherein the frequency-domain cyclic shift factor and the time-domain cyclic shift factor are used to perform phase rotation on a reference signal sequence; generating a second reference signal sequence based on a first reference signal sequence, the frequency-domain cyclic shift factor, and the time-domain cyclic shift factor; and sending the second reference signal sequence on an antenna port p, wherein p e {0, 1,..., P - 1}, and P is an integer greater than or equal to 1; wherein the generating a second reference signal sequence based on a first reference signal sequence, the frequency-domain cyclic shift factor, and the time-domain cyclic shift factor comprises: generating N rs second reference signal sequences in a second reference signal sequence set based on the first reference signal sequence, the frequency-domain cyclic shift factor, and the time-domain cyclic shift factor, wherein the first reference signal sequence and each second reference signal sequence each comprise M rs elements, N rs ≥ 1 and is an integer, and M rs ≥ 1 and is an integer; and performing phase rotation on an element m of the first reference signal sequence by using e j·α F ·m and e j·α T ·t, to obtain an element m of a second reference signal sequence t in the second reference signal sequence set, wherein 0 ≤ m < M rs, 0 ≤ t < N rs, α F is the frequency-domain cyclic shift factor, α T is the time-domain cyclic shift factor, j indicates an imaginary unit, and both m and t are integers; and wherein the frequency-domain cyclic shift factor and the time-domain cyclic shift factor are respectively represented by using the following formulas: α F = ± 2 π N F × β F, α T = ± 2 π N T × β T, wherein α F is the frequency-domain cyclic shift factor, N F is an integer, β F is an integer, a value range of β F is [0, N F - 11, α T is the time-domain cyclic shift factor, N T is an integer, β T is an integer, and a value range of β T is [0, N T -1]. obtaining a frequency-domain cyclic shift factor and a time-domain cyclic shift factor, wherein the frequency-domain cyclic shift factor and the time-domain cyclic shift factor are used to perform phase rotation on a reference signal sequence; generating a second reference signal sequence based on a first reference signal sequence, the frequency-domain cyclic shift factor, and the time-domain cyclic shift factor; and sending the second reference signal sequence on an antenna port p, wherein p e {0, 1,..., P - 1}, and P is an integer greater than or equal to 1; wherein the generating a second reference signal sequence based on a first reference signal sequence, the frequency-domain cyclic shift factor, and the time-domain cyclic shift factor comprises: generating N rs second reference signal sequences in a second reference signal sequence set based on the first reference signal sequence, the frequency-domain cyclic shift factor, and the time-domain cyclic shift factor, wherein the first reference signal sequence and each second reference signal sequence each comprise M rs elements, N rs ≥ 1 and is an integer, and M rs ≥ 1 and is an integer; and performing phase rotation on an element m of the first reference signal sequence by using e j·α F ·m and e j·α T ·t, to obtain an element m of a second reference signal sequence t in the second reference signal sequence set, wherein 0 ≤ m < M rs, 0 ≤ t < N rs, α F is the frequency-domain cyclic shift factor, α T is the time-domain cyclic shift factor, j indicates an imaginary unit, and both m and t are integers; and wherein the frequency-domain cyclic shift factor and the time-domain cyclic shift factor are respectively represented by using the following formulas: α F = ± 2 π N F × β F, α T = ± 2 π N T × β T, wherein α F is the frequency-domain cyclic shift factor, N F is an integer, β F is an integer, a value range of β F is [0, N F - 11, α T is the time-domain cyclic shift factor, N T is an integer, β T is an integer, and a value range of β T is [0, N T -1]. generating N rs second reference signal sequences in a second reference signal sequence set based on the first reference signal sequence, the frequency-domain cyclic shift factor, and the time-domain cyclic shift factor, wherein the first reference signal sequence and each second reference signal sequence each comprise M rs elements, N rs ≥ 1 and is an integer, and M rs ≥ 1 and is an integer; and performing phase rotation on an element m of the first reference signal sequence by using e j·α F ·m and e j·α T ·t, to obtain an element m of a second reference signal sequence t in the second reference signal sequence set, wherein 0 ≤ m < M rs, 0 ≤ t < N rs, α F is the frequency-domain cyclic shift factor, α T is the time-domain cyclic shift factor, j indicates an imaginary unit, and both m and t are integers; and wherein the frequency-domain cyclic shift factor and the time-domain cyclic shift factor are respectively represented by using the following formulas: α F = ± 2 π N F × β F, α T = ± 2 π N T × β T, wherein α F is the frequency-domain cyclic shift factor, N F is an integer, β F is an integer, a value range of β F is [0, N F - 11, α T is the time-domain cyclic shift factor, N T is an integer, β T is an integer, and a value range of β T is [0, N T -1].