Abstract: Whether agricultural enterprises can drive farmers’ income increase is the key to empowering agriculture through capital going to the countryside. This article adopted a case analysis method to explore the theoretical logic and conflict of interest when agricultural enterprise connecting farmers. It started from the dynamic foundation of agricultural enterprises connecting farmers and the paradoxical relationship between the interests of both parties. Taking the mechanism innovation of connecting farmers in the vegetable industry investment of TX Company in Xiangyun County, Yunnan Province as an example, it revealed the principle and effectiveness of agricultural enterprises and farmers can build a benefit-sharing mechanism. Research conclusions: agricultural enterprises connected farmers’ operations through large-scale services and production; Agricultural enterprises and farmers were both interdependent and had conflicting interests; The paradoxical management strategy of “Owner Management Model” and “Partnership Model” could enhance farmers’ willingness to cooperate, expand income channels for farmers, and improve the profitability of agricultural enterprises. The mechanism innovation of “Owner Management Model” and “Partnership Model” in TX company provides useful reference and inspiration for solving the paradoxical relationship between agricultural enterprises and farmers.