Cold bending forming is a complex forming process, and its product quality is closely related to the forming process parameters. To mitigate issues such as bulging and waviness arising from the extension of the material at the edges during the forming process of thin-walled circular tubes, a comprehensive comparative analysis was conducted on four forming methods. This analysis determined that the combined bending method is the optimal forming technique for the equipment. For the impact of different parameters on the equivalent plastic strain distribution of the product and the force on the rollers, numerical simulations were carried out using the software COPRA (COPRA FEA RF 2023.1) after designing the pattern diagram based on the integrated bending method. The results showed that different processing speeds on the equivalent plastic strain distribution and work hardening of the plate have little effect. As the spacing between the upper and lower rollers increases, the equivalent plastic strain of the plate to a certain extent and the value of the moment of the rollers is significantly reduced. Analyzing the performance characteristics of high-strength steel materials from the aspects of the thickness strain and cross-sectional forming of the plate, this verifies the advantages of forming high-strength steel plates. The numerical simulation results of this study are in good agreement with actual production experimental results.