中文：

股票PB，全称为股票市净率，是评估股票估值的常见指标之一。市净率的计算方法是：股票价格除以每股净资产。其中，每股净资产可以理解为公司的净资产（资产总额减去负债总额）除以公司发行的股票总数。

PB在投资决策中有着重要的意义。一般来说，较低的PB值意味着投资者可以以相对较低的价格购买公司的股票，从而降低投资风险。然而，需要注意的是，PB值并不是唯一的投资决策指标，还需要结合其他财务指标如PE、DCF等进行综合分析。

在市场波动较大的情况下，一些低PB的股票可能会成为市场的热点。这是因为投资者在市场波动较大时更倾向于选择低风险的股票，而低PB值正是低风险股票的代表之一。此外，一些成长性较好的公司，其股票PB值也相对较高。这是因为这些公司的未来发展潜力较大，因此投资者愿意以较高的价格购买其股票。

英文：

Stock PB, short for Price-to-Book Ratio, is a common metric used to evaluate stock valuation. The calculation method of PB is to divide the stock price by the net asset value per share. Among them, the net asset value per share can be understood as the company's net assets (total assets minus total liabilities) divided by the total number of shares issued by the company.

PB is of great significance in investment decision-making. Generally speaking, a lower PB value means that investors can buy the company's shares at a relatively low price, thus reducing investment risks. However, it needs to be noted that PB is not the only investment decision-making index. It also needs to be analyzed comprehensively with other financial indicators such as PE and DCF.

In markets with high volatility, some low PB stocks may become market hotspots. This is because investors tend to choose low-risk stocks when market volatility is high, and low PB values are representatives of low-risk stocks. In addition, some companies with good growth potential have relatively high PB values for their stocks. This is because the future development potential of these companies is relatively large, so investors are willing to buy their shares at higher prices.