Let me give you my opinion. The rights issue does not mean that the shares of the original shareholders will definitely shrink. Do you want the company to sell all its property to shareholders in the form of shares? Let's put it this way: when you buy shares in this company, you don't just buy the company's property, but invest in this company in the form of capital. If you sell your company shares at a price in the secondary market, this is when you transfer your shares at the asset price. In fact, the correct understanding should be that you have invested in this company for a certain purpose, so you are responsible for the future profit and operation of this company. The size of the responsibility depends on how much your shareholding accounts for the total share capital, so it is called a limited liability company. It depends on the purpose of the company's rights issue, such as projects that are beneficial to the company's future development or anything else, because the company has developed the shares you hold, and the price will only rise according to the value investment law. Let me give you another example. You started a company with a friend, and three years later your company went public. Before listing, the accounting office will evaluate your company. For example, your actual value is 100 yuan, but you can issue 200 yuan shares to the market. The hundred dollars you two have won't change, so you can issue 200 yuan market value stocks to the market. Now your market value has become 200 yuan. As long as it is listed, the market will give the market price, and the market value is the real market value of your company at present. You may be ahead or behind. That's the market's view of your company's prospects. If the market gives you a price of 2 yuan per share, the market value of your company will become 400 yuan, and you can use the raised funds to develop the company again. For example, after one year, the company makes money, and the price given by the secondary market may become 4 yuan per share, so your total market value will become 800 yuan. In the next year, you will use the funds collected before for investment or projects. If the company has no cash and other projects to do, it can apply for a rights issue. If the CSRC agrees, it can issue more shares, such as rights issue and bond sale. The form depends on which form is beneficial to the company. Even if new shares are issued, it depends on the market's views on your newly issued shares. If you are optimistic, your market price will not be greatly affected, but the company will grow successfully by raising funds again. In the future, the company may become eight shares, but if the market does not recognize it, it will bring serious consequences. Therefore, there are several ways to refinance the issuing company, including the original shareholders, the society and the fund. A rights issue is a allotment of shares to the original shareholders. My understanding is that this issuance method is afraid of overreaction in the market, which will lead to large fluctuations in the stock price. In addition, selling bonds requires repayment and interest. Besides, if the project is not good or the company's prospects are not good, no one will buy bonds. Not as fast as rights issue or refinancing, and the cost is low. If it is too late to taste, it is better to convert it into shares in one step. My humble opinion. I hope I didn't mislead you. If you have any suggestions, I hope you can give me some advice.