The fund does not necessarily pay dividends once a year. In fact, the dividends of open-end funds can only be distributed if certain preconditions are met:

(1) The fund gains income after selling profitable stocks;

(2) The income of the fund in the current year can only be distributed after making up the losses in previous years;

(3) After the distribution of fund income, the net value of each fund share cannot be lower than the face value;

(4) If there is a net loss in the fund investment year, no income distribution will be made.

After meeting the above conditions, the dividend depends on the investment strategy of the fund manager. If the fund manager thinks that the stocks held by the fund have room for long-term appreciation, he may not pay dividends. See the fund contract or prospectus for specific dividend terms.