This factor describes the imbalance in the proportion of each of the top ten shareholders of a listed company, and is used to quantify the concentration or dispersion of equity. The higher the factor value, the more dispersed the distribution of the shareholding ratios of the top ten shareholders, that is, the less concentrated the shareholding structure; the lower the factor value, the more concentrated the distribution of the shareholding ratios of the top ten shareholders, that is, the more concentrated the shareholding structure. It is generally believed that within a certain range, when the shareholding structure is relatively concentrated (that is, the factor value is low), it reflects the market's confidence in the long-term development of the company, as well as the major shareholders' attention and maintenance of the company's business management, which may have a positive impact on the stock price. However, it is necessary to be vigilant that extreme concentrated shareholding may also be accompanied by potential governance risks and the possibility of interest transfer. Therefore, this factor needs to be considered in combination with other factors in practical applications.