【中文版】

增发是指上市公司以新股的方式增加股本，通常是通过向投资者增发股票，以募集资金来扩大经营规模或增加投资项目。增发股票的价格通常比市场价格低，因此也被称为“低价发行”。

增发对于投资者来说，既有好处也有坏处。好处是投资者可以以较低的价格购买更多的股票，从而降低其持仓成本。但是，如果增发的股票数量过大，会导致市场上股票供应量增加，从而对现有股票的价格产生压力，甚至可能导致股价下跌。

此外，增发也可能会影响公司的股权结构，因为新股的发行会稀释现有股东的持股比例。因此，增发需要充分考虑各方面的因素，包括公司的经营状况、市场情况、投资者需求等，以制定合理的方案。

总的来说，增发是上市公司为了扩大经营规模或增加投资项目而采取的一种措施。投资者在面对增发时，需要充分了解公司的经营状况和市场情况，以便做出明智的投资决策。

【英文版】

Additional issue refers to the increase of the company's share capital by issuing new stocks, usually through the issuance of additional stocks to investors to raise funds for expanding business or investing in new projects. The price of additional stocks is usually lower than the market price, so it is also known as "low-priced issue".

For investors, additional issue has both advantages and disadvantages. The advantage is that investors can buy more stocks at a lower price, thereby reducing their holding costs. However, if the number of additional stocks issued is too large, it will increase the supply of stocks in the market, which will put pressure on the price of existing stocks and may even cause a decline in stock prices.

In addition, additional issue may also affect the company's ownership structure, as the issuance of new stocks will dilute the ownership ratio of existing shareholders. Therefore, additional issue needs to fully consider various factors, including the company's operating conditions, market situation, investor demand, etc., to develop a reasonable plan.

Overall, additional issue is a measure taken by listed companies to expand business scale or increase investment projects. Investors need to fully understand the company's operating conditions and market situation when facing additional issue, so as to make informed investment decisions.