Selection and Modification of Dividend Options
Step 1: When creating a product on the [Product Creation] page, the dividend option must be selected.
- If Token Dividend is selected, investors' dividend option is limited to Token Dividend only; the product may later be modified to Token Dividend / Dividend Reinvestment.
- If Token Dividend / Dividend Reinvestment is selected, investors may choose either Token Dividend or Dividend Reinvestment, but the product can no longer be modified to Token Dividend only.
Step 2: On the [Product Details] page, if the product's dividend option is Token Dividend, it may be modified to Token Dividend / Dividend Reinvestment.
Dividend Initiation Process
Step 1: Submit a Dividend Request: On the [Product Details] page, submit a dividend request. The dividend date must meet the following conditions: At least 90 days must have elapsed since the product creation date or the previous dividend date; the dividend date must fall within 3–7 days from the submission date; the current NAV per unit must be greater than 1.01. After submission, users will be notified and the dividend information will be displayed on the product page.
Step 2: Dividend Confirmation: On the dividend date, if the latest NAV per unit after deducting the dividend per unit is ≥ 1, the dividend is successfully executed. Otherwise, the dividend will not be executed, and no dividend will be distributed. Dividend records can be viewed in the Dividend Record section on the [Product Details] page.
Step 3: Token Dividend Processing: If the dividend is successfully executed, for investors selecting Dividend Reinvestment, the dividend will be automatically added to the investors' investment capital; for investors selecting Token Dividend only, the dividends need to be transferred in a timely manner, and investors will receive their dividends after successful transfers. The transfer action can be performed on the asset management system homepage or within the basic information section of the corresponding [Product Details] page.
Valuation and Settlement Process Including Dividends
Execution Order
1.Calculate the pre-dividend NAV per unit as in a non-dividend scenario.
2.Process all redemption requests using the pre-dividend NAV per unit.
3.Based on the remaining units after redemption, calculate the dividend amount and dividend reinvestment units, and determine the post-dividend NAV per unit.
4.Use the post-dividend NAV per unit to calculate the subscription units for all subscription requests.
Example
Assumptions: Before settlement, the product has 1,000 units outstanding. During this settlement cycle, a subscription of 150 USDT is placed, 200 units are redeemed, the pre-dividend NAV per unit is 1.5, and the dividend per unit is 0.3. The execution process is as follows:
1.Pre-Dividend NAV Per Unit = 1.5 (assumptions)
2.Redemption Amount = Redemption Units × Pre-Dividend NAV Per Unit = 200 × 1.5 = 300 USDT. Remaining Units After Redemption = 1,000 – 200 = 800
3.Post-Dividend NAV Per Unit = Pre-Dividend NAV Per Unit – Dividend Per Unit = 1.5 – 0.3 = 1.2
- Assume that of the remaining 800 units, 600 units select Token Dividend, 200 units select Dividend Reinvestment.
- Token Dividend Amount = Token Dividend Units × Dividend Per Unit = 600 × 0.3 = 180 USDT
- Dividend Reinvestment Amount = Dividend Reinvestment Units × Dividend Per Unit / Post-Dividend NAV Per Unit = 200 × 0.3 / 1.2 = 50
4.Subscription Units = Subscription Amount / Post-Dividend NAV Per Unit = 150 / 1.2 = 125
5.Post-settlement results:
- Net Change in Units = −200 + 50 + 125 = −25
- Total Units After Settlement = 1,000 – 25 = 975
- Token Dividend Amount = 180 USDT
- Net Subscription Amount = 150 – 300 = −150 USDT
- Published NAV Per Unit = 1.2
- Generated Transfer Instructions: Payable Redemption Amount: 150 USDT; Payable Token Dividend Amount: 180 USDT
