Supported by a convergence of policy, fundamentals and valuation factors, the Beijing Stock Exchange ecosystem 鈥?which gathers specialized, refined, differentiated and innovative "hidden champion" enterprises 鈥?is steadily expanding.

After the holiday, the first batch of BSE-themed funds with a three-month holding period went on sale simultaneously, among which the Harvest BSE 3-Month Holding Period Mixed Securities Investment Fund (abbreviated as Harvest BSE 3-Month Holding Mixed, Class A 029135, Class C 029136) launched on October 12.

Relying on Harvest Fund's investment research platform and a three-month holding period design, the fund balances liquidity and operational stability, offering investors a convenient tool to capture medium- and long-term growth opportunities in innovative small and medium-sized enterprises.

Harvest BSE 3-Month Holding Mixed is an equity-biased mixed fund, with stock assets accounting for 60% to 95% of fund assets, of which the proportion invested in BSE stocks shall be no less than 80% of non-cash fund assets, and it may also invest moderately in Hong Kong stocks, with investment in Stock Connect targets not exceeding 20% of non-cash fund assets.

Specialized and innovative, a sharp growth engine

As the main front serving innovative small and medium-sized enterprises, the BSE has continuously deepened reform and improved mechanisms over more than five years since its establishment, increasingly becoming a cluster of innovative SMEs characterized by "specialized, refined, differentiated and innovative" features, labeled by high technology, and composed mainly of hidden champions in niche tracks.

BSE data show that as of September 30, 2026, the number of listed companies on the BSE reached 348, with total market capitalization exceeding 840 billion yuan, and specialized and innovative enterprises accounting for more than 80%.

These enterprises include leaders in future technology directions such as artificial intelligence, embodied intelligence, solid-state batteries and commercial aerospace, as well as targets with long-term growth potential arising from domestic substitution opportunities, including semiconductor self-control and advanced manufacturing upgrading.

Harvest BSE 3-Month Holding Mixed is planned to be managed by Liu Jie, Director of the Equity Research Department at Harvest Fund.

Since joining Harvest Fund in July 2006, Liu Jie has served as an analyst in the research department and an investment manager in the institutional investment department, and currently serves as Director of the Equity Research Department at Harvest.

With 19 years in the industry and more than 11 years of investment experience, he has gradually formed an investment methodology of "industrial perspective, meso-level thinking and careful stock selection," with a growth-oriented investment style.

Liu Jie believes that an industrial perspective solves the question of direction, meso-level thinking addresses industry comparison and the distribution of interests within an industry, and finally careful stock selection aims to find companies that can sustainably create returns for shareholders over the long term.

In Harvest Fund's view, the BSE provides asset exposure difficult to replicate in the Shanghai and Shenzhen markets, namely a group of "hidden champions" that occupy key links in segmented fields and are still in the early stage of value discovery, which is also where the BSE's unique allocation value lies.

Currently, the BSE is in a allocation window where policy, valuation and fundamentals resonate.

On the policy front, 2026 is a major year for institutional development of the BSE: after a three-year hiatus, offline inquiry-based issuance was restarted, the framework for after-hours fixed-price trading was established, the simplified refinancing procedure was optimized, and the transfer mechanism was improved, with multiple reform measures landing intensively; initiatives such as public fund product innovation and the entry of long-term capital are continuously broadening channels for incremental funds.

On the valuation front, after earlier adjustments, BSE valuations have fallen back to the mid-to-low range of the past three years.

Wind data show that as of October 8, 2026, the price-to-earnings ratio (TTM) of the BSE 50 Index was 44.41 times, at around the 40th percentile of the past three years, leaving some room for valuation repair.

On the fundamentals front, BSE-listed companies achieved double-digit growth in revenue and net profit attributable to parent companies in their 2026 interim reports, with more than 80% profitable.

Standing at the new starting point of the opening of the 15th Five-Year Plan, the strategic value of the BSE in serving new quality productive forces and innovative small and medium-sized enterprises is expected to become further evident.

Identifying earlier-stage and more segmented "hidden little giants" relies heavily on comprehensive investment research platforms with broad coverage and deep cultivation.

As a public fund institution that continues to play a role in value discovery and resource allocation, Harvest Fund has always actively participated in the construction of the BSE ecosystem and product innovation, including being among the first to launch BSE-themed funds, BSE 50 index funds and three-month holding period funds.

Harvest BSE 3-Month Holding Mixed adopts a three-month holding period model, hoping to help investors reduce short-term frequent trading while relatively improving the flexibility of funds and striving to optimize the investment experience.

Note: Harvest BSE 3-Month Holding Mixed A does not charge a sales service fee. Subscription/purchase fee rate: 0.80% for amounts below 5 million yuan, and 1,000 yuan per transaction for amounts of 5 million yuan or more. Redemption fee rate: 0.50% for holding periods below 180 days, and 0 for holding periods of 180 days or more. Harvest BSE 3-Month Holding Mixed C charges a sales service fee of 0.40% per year, does not charge a subscription fee, and has a redemption fee rate of 0.50% for holding periods below 180 days and 0 for holding periods of 180 days or more. Operating fee rates: management fee of 1.20% per year, custody fee of 0.20% per year. Risk disclosure: Funds involve risks, and investment requires caution. Investors should read legal documents such as the Fund Contract, Prospectus and Product Information Summary to understand the fund's risk-return characteristics, especially its specific risks, and judge whether it suits their own risk tolerance based on their investment objectives, investment experience and asset status. The fund manager undertakes to manage and use fund assets in accordance with the principles of good faith, prudence and due diligence, but does not guarantee that the fund will necessarily profit or that principal will not be lost. Past performance does not predict future performance, and the performance of other funds does not constitute a guarantee of this fund's performance. MACD golden cross signals have formed, and these stocks are rising well!