权不本身不产生价值、不创造价值，它只是代表财富的媒介。取权的这种媒介作用与财富的增值又是密不可分的，以至于在很多情况下，大家认为股权就是财富。
Power itself does not generate value or create value, it is only a medium representing wealth. The intermediary role of power acquisition is closely related to the appreciation of wealth, to the extent that in many cases, equity is considered wealth.
济南合伙设计公司提醒，从顺序上看，股权的创富效应是按照以下方式逐步实现的:
Jinan Partnership Design Company reminds that from a sequential perspective, the wealth creation effect of equity is gradually realized in the following ways:
阶段:股东进行原始出资
Phase 1: Shareholders make original capital contributions
投资者用《公司法》允许的方式，如货币或者实物、知识产权等作价出资，按照每1元出资对应1元注册资本的标准，取得初创公司的股权。此时公司尚未开始运营，也未发生各种费用，股权的价值与原始出资等值。
Investors use methods permitted by the Company Law, such as currency or physical assets, intellectual property rights, etc., to make capital contributions, and obtain equity in the startup company based on the standard of 1 yuan of registered capital corresponding to each yuan of capital contribution. At this time, the company has not yet started operating and has not incurred any expenses. The value of equity is equivalent to the original investment.
第二阶段:股权价值开始发生波动
Phase 2: The equity value begins to fluctuate
公司成立后在运营过程中，会有各种费用支出，同时也产生业务收入，在按照会计准则进行核算后，会得到公司的净资产、净利润等重要数据。多数情况下，股权价值此时与净资产是对应的，可能高于原始出资，也可能低于原始出资，但是对一些前景看好、成长性高的公司而言，低于原始出资甚至公司净资产出现负值的情况下，不一定代表股权价值下降。但是，此时的股权价值只是一个账面价值，还没有得到第三方认可。
After the establishment of the company, various expenses will be incurred during the operation process, and business income will also be generated. After accounting in accordance with accounting standards, important data such as the company's net assets and net profit will be obtained. In most cases, the equity value corresponds to net assets at this time, which may be higher than or lower than the original contribution. However, for some companies with promising prospects and high growth potential, a decrease in equity value below the original contribution or even a negative net asset does not necessarily mean a decrease in equity value. However, the equity value at this time is only a book value and has not yet been recognized by third parties.
第三阶段:公司对外融资时股权价值开始得到第三方认可创业公司从成立到首发上市，中间往往要进行若干轮融资，一来解决公司的资金需求；二来可以提升公司的估值，优化股权结构，利于后期上市时公司股票的估值。在融资时，很少有用公司净资产作为作价标准进行融资的，一般都是高于净资产进行溢价融资，也有的按照净利润乘以可比市盈率作为估值标准。总的趋势是，从A轮融资开始，估值越来越高，到公司Pre一IPO轮的融资，估值达到上市前的高点，并且得到了投资者的认可。
The third stage: When the company raises funds externally, the equity value begins to be recognized by third parties. Starting from its establishment to its initial public offering, there are often several rounds of financing to meet the company's financial needs; Secondly, it can enhance the company's valuation, optimize the equity structure, and facilitate the valuation of the company's stocks during the later stage of listing. When financing, it is rare to use the net assets of a company as the valuation standard. Generally, premium financing is carried out above the net assets, and some use net profit multiplied by comparable P/E ratio as the valuation standard. The overall trend is that starting from the A-round financing, the valuation is getting higher and higher, and reaching the pre IPO high point of the company's pre IPO financing, which has been recognized by investors.
第四阶段:公司上市公司成功上市后，股权价格会进一步上涨，达到自公司成立以来的高峰。
Stage 4: After the company successfully goes public, the equity price will further increase, reaching its peak since the company was established.
此时，股权价格也有了明确的计算标准，即公司每股收益乘以市盈率得出每股价格。每股收益是相对固定的，市盈率则代表着市场上投资者对公司的认可，公司前景越好，预期收益越高，市盈率就会相应升高。这时，决定股权价格的上面两个因素，一个是公司可控的，另一个是公司不可控的，股权价格充满了各种可能。对同家公司来说，人股时间越早，持股时间越长，股权增值的倍数可能就会越高。
At this point, there is also a clear calculation standard for the equity price, which is to multiply the company's earnings per share by the price to earnings ratio to obtain the price per share. Earnings per share are relatively fixed, while the P/E ratio represents investors' recognition of a company in the market. The better the company's prospects, the higher the expected earnings, and the corresponding increase in the P/E ratio. At this point, the two factors that determine the equity price are controllable by the company and uncontrollable by the company, and the equity price is full of various possibilities. For the same company, the earlier the person shares and the longer the holding time, the higher the multiple of equity appreciation may be.
对大多数公司来说，股权价值的变化总体上就是沿着上述时间阶段不断增长的。实践中，有关股权的资本运作形式其实是非常丰富的，在时间顺序上可能也有跳跃性。
For most companies, the overall change in equity value continues to grow along the aforementioned time period. In practice, the forms of capital operation related to equity are actually very diverse, and there may also be jumps in time order.
如有的公司从设立到上市周期很短，未经历过复杂的多轮触资:有的是通过借克方式间接上市，可能未经历过融资，他们的股权价值同样在运动中成长。
If some companies have a short period from establishment to listing and have not experienced complex multiple rounds of capital touching: some have indirectly listed through borrowing, and may not have experienced financing, their equity value is also growing in motion.
Although the changes in the value of company equity have different paths, equity, as a form of wealth, has always been the focus of the game among all parties. Only by recognizing the wealth creation effect of server rights as a wealth tool can we use and control equity more rationally. If you have any doubts or needs, come to our website http://www.daoshangbao.com consulting service
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