A novel multi-story prefabricated shear wall structure was investigated, in which reinforcement anchor rings or steel wire rope sleeve was used for the vertical joint connection, while the vertical rebar was connected by noncontact lapping using a single row of larger diameter rebar. To investigate the feasibility and the seismic behavior of the wall, quasi-static experiments were conducted on a total of eight prefabricated shear wall specimens and one cast-in-situ shear wall, and the failure mode, full-range behavior and influence pattern of key parameters were analyzed. The results show that all specimens exhibit the expected failure mode, demonstrating satisfactory overall integrity. The measured flexural bearing capacity of I-shaped and H-shaped compression bending failure specimens and shear bearing capacity of I-shaped shear failure specimens were 1.23-1.25, 1.01-1.07 and 1.69-1.81 times of the calculated value achieved from JGJ 3—2010 using formulas for cast-in-situ shear walls, respectively. The ultimate displacement angles of the compression bending failure and shear failure specimens were 1/53-1/34 and 1/62-1/61 respectively. The noncontact lapping connection for horizontal joints achieves satisfactory bearing capacity and energy dissipation capacity. The vertical joint demonstrates sufficient shear resistance, with limits weakening of the horizontal bearing capacity of the specimen after a small amount of slip occurs. For the vertical joint, considering the dowel action, the use of reinforcement anchor rings is recommended.