This is the exercise price. For example, if a stock is now 10 yuan, the exercise price of issuing warrants is now 10 yuan. At the end of the duration, if the stock price is 20, you can use this warrant 10 yuan to buy this stock. But at this time, the price of this warrant will be 10 yuan, so if you spend 10 yuan again, it is equivalent to buying 20 shares with 20 yuan.