送转除权：中英文双语解读

中文版

送转除权是股票市场中常用的一个概念，它涉及到股票分红、送股、转股以及除权等过程。对于很多投资者来说，理解送转除权的概念和操作原理是投资的基础。

首先，我们来解释一下“送转”。在股票市场中，“送”指的是上市公司向股东赠送股份的行为，也就是我们通常所说的送股。而“转”则是指上市公司将公积金转为股本，也就是我们通常所说的转股。这两种行为都会导致公司股本增加，而股东持有的股份比例则相应减少。

接下来，我们再来解释一下“除权”。在股票市场中，“除权”是指上市公司在进行送股或转股等操作后，为了保持股票价格的公正性，需要对股票价格进行调整的过程。具体来说，当公司进行送股或转股时，股票的总市值并不会改变，但每股的股价会相应下降。这个过程就是除权。

对于投资者来说，理解送转除权的过程和原理非常重要。因为在送转除权的过程中，投资者的股份数量和股票价格都会发生变化，这直接影响到投资者的收益。因此，投资者在进行投资决策时，必须充分考虑到送转除权的影响。

英文版

Stock Split and Dividend Adjustment: A Comparative Reading in Chinese and English

In the stock market, the concept of stock split and dividend adjustment is commonly used, involving processes such as stock dividends, stock splits, capital conversions, and dividend adjustments. For many investors, understanding the concept and operating principles of stock split and dividend adjustment is fundamental to investing.

First, let's explain the term "stock split and dividend". In the stock market, "dividend" refers to the act of a listed company gifting shares to its shareholders, commonly known as stock dividends. While "split" refers to the conversion of a company's reserve fund into share capital, commonly referred to as capital conversion. Both these actions lead to an increase in the company's share capital, resulting in a corresponding decrease in the percentage of shares held by shareholders.

Next, let's delve into the concept of "dividend adjustment". In the stock market, dividend adjustment refers to the process of adjusting stock prices to maintain fairness after a company has conducted stock dividends or capital conversions. Specifically, when a company performs stock dividends or capital conversions, the total market capitalization of the stock remains unchanged, but the price per share decreases accordingly. This process is known as dividend adjustment.

For investors, understanding the process and principles of stock split and dividend adjustment is crucial. This is because during these processes, both the number of shares held by investors and the stock price undergo changes, directly affecting their returns. Therefore, investors must fully consider the impact of stock split and dividend adjustment when making investment decisions.