什么是摊薄股权？

中文版

摊薄股权，简而言之，是指由于公司发行新股或实施其他股份变动措施，导致原有股东的持股比例相对下降，进而使得每股股票所代表的权益减少的现象。这一过程也被称为“股权稀释”。

当公司为了筹集资金、扩大规模、进行并购或实施股权激励计划时，往往会选择发行新股。新股的发行会增加公司总股本，而原有股东的持股数量不变，这自然导致每位股东所持有的股份在总股本中的比例下降。这种股权结构的变化就是所谓的“摊薄股权”。

摊薄股权对股东而言，意味着其相对权益的减少。如果公司的盈利能力和市场前景没有同步增长，那么每股收益可能会因股权摊薄而下降，从而影响股东的收益。因此，股东在投资决策时，需要综合考虑公司的盈利状况、市场前景以及股权摊薄等因素。

此外，对于投资者来说，了解一个公司的股权摊薄情况也是非常重要的。股权摊薄可能会增加公司的财务风险，降低其未来的增长潜力，并影响投资者的回报。因此，投资者在评估一个公司的投资价值时，应当充分考虑其股权摊薄的情况。

英文版

What Is Equity Dilution?

Equity dilution, in simple terms, refers to the process where the relative ownership stake of existing shareholders decreases due to the issuance of new shares or other changes in the company's share capital structure. This process is also known as "share dilution."

Companies often choose to issue new shares when seeking to raise funds, expand their scale, merge or acquire other companies, or implement equity incentive plans. The issuance of new shares increases the total number of shares outstanding, while the number of shares held by existing shareholders remains unchanged. Consequently, the proportion of shares held by each shareholder in the overall share capital decreases. This change in the equity structure is referred to as "equity dilution."

For shareholders, equity dilution implies a reduction in their relative equity. If a company's profitability and market prospects do not grow in tandem with the dilution, then earnings per share (EPS) may decline due to equity dilution, affecting shareholders' returns. Therefore, shareholders need to consider factors such as the company's profitability, market prospects, and equity dilution when making investment decisions.

Moreover, it is crucial for investors to understand a company's equity dilution situation. Equity dilution can increase a company's financial risks, reduce its future growth potential, and impact investors' returns. Hence, investors should fully consider a company's equity dilution when evaluating its investment value.