Since the start of 2026, "Fixed Income Plus" strategies have become one of the standout performers in the spotlight. According to data from securities firms, by the end of the second quarter, the total number of "Fixed Income Plus" funds across the market reached 2,496, with existing assets under management surpassing RMB 3.95 trillion, a sequential growth of 11.5%, setting a new historical peak once again.

Beyond the expansion in scale, the product landscape is also evolving, with "White-Box Fixed Income Plus" strategies—which offer greater transparency in equity tactics and clearer style definitions—becoming a hot topic in the asset management industry. A "White-Box Fixed Income Plus" approach means the "Plus" portion is fully open to investors: what types of assets are added, which methodologies are used, and what rules are followed. This trend is driven by the upgrading of investor demands. In the past, some "Fixed Income Plus" products only communicated simple labels such as "low volatility," "medium volatility," or "high volatility," while providing relatively limited information on the direction and style of the equity allocation. Investors could see the rise and fall of net asset value, but found it difficult to judge the sources of returns and style characteristics. As a result, "White-Box Fixed Income Plus" products, with more transparent equity strategies and clearer style definitions, have emerged to meet investors' growing preference to "understand before buying."

For Harvest Fund Management, a firm with years of deep experience in the "Fixed Income Plus" space, this represents a case of "old experience" meeting a "new trend." Recently, Harvest launched a new "Dividend Fixed Income Plus" product—the Harvest Steady Ruiqing 6-Month Holding Period Mixed Fund (Class A: 028867, Class C: 028868). According to the fund contract, the product's equity investments are guided by a value investing philosophy, combining quantitative investment with bottom-up stock selection methods. It flexibly applies multiple equity investment strategies, anchored in fundamental analysis by the firm's industry researchers, while also incorporating the fund manager's analysis and judgment, with a focus on uncovering industries and companies with low volatility and high dividends, aiming to achieve long-term stable appreciation of fund assets.

Another product managed by Li Xin, the proposed fund manager of the Harvest Steady Ruiqing 6-Month Holding Period Mixed Fund, is the Harvest Wensheng Bond Fund, which also exhibits a clearly defined "Dividend Fixed Income Plus" characteristic. According to the product's 2026 interim report, the bond portion of Harvest Wensheng primarily holds interest rate bonds and high-grade credit bonds as its base, while the equity portion's industry allocation and stock attributes demonstrate a typical profile of "dividend low volatility + dividend quality + stable high yield." As of June 30, 2026, the cumulative net asset value growth rate of Harvest Wensheng Bond since its inception reached 21.50%, compared to 9.77% for its performance benchmark over the same period. This solid historical track record has also earned recognition from investors, with the fund's shares maintaining growth for six consecutive quarters since 2025. (Portfolio information and performance data source: Fund periodic reports, as of June 30, 2026).

Whether it is "Dividend Fixed Income Plus" or "White-Box Fixed Income Plus," both are new branches extending from Harvest Fund's "Fixed Income Plus" platform capabilities. As early as 2009, Harvest pioneered the industry's first "all-weather, multi-strategy" investment research model. After more than a decade of refinement, the firm has assembled a team of "Fixed Income Plus" fund managers with diverse styles, covering value, growth, balanced, and other approaches, encompassing a range of strategies including dividend, GARP, sector rotation, and convertible bonds. Around different client needs, the firm has built a multi-tiered product shelf, including low-volatility wealth management upgrade options, medium-volatility balanced yield enhancement options, and high-volatility long-term growth options, with commendable medium- and long-term investment performance.

For example, within the low-volatility "Fixed Income Plus" product shelf, the Harvest Anyi Mixed Fund C (003187) balances industry cycle positioning and moderate rotation under a margin of safety in its equity investment style, achieving positive returns for nine consecutive full years since inception (2017–2025). Over the past year (July 1, 2025 – June 30, 2026), the proportion of profitable investors reached 98.40%. The Harvest Wenyu Mixed Fund A (011249) has received three-year five-star ratings from both Shanghai Securities and Guotai Haitong Securities. Based on historical holdings, it exhibits value-style Fixed Income Plus characteristics, with bonds as the foundation and an equity portion that emphasizes quality-value style and a focus on margin of safety. According to the product's interim report, as of June 30, 2026, the cumulative net asset value growth rate of Harvest Wenyu Mixed A since inception was 19.11% (compared to 17.68% for the benchmark).

For products positioned in the medium-volatility range, the Harvest Wengu Income Bond Fund (Class A: 009089, Class C: 070020), Harvest Shuangli Bond Fund (Class A: 016797, Class C: 016798), and Harvest Tongzhou Bond Fund (Class A: 018562, Class C: 018563) all use bond assets as their cornerstone while seeking yield enhancement through multiple asset classes, pursuing an optimal overall return-to-risk ratio through dynamic equity-bond balancing and balanced equity strategies. The Harvest Duoli Income Bond Fund A (160718) has received five-star ratings from Guotai Haitong Securities for three-year, five-year, and ten-year periods. The Harvest Duoyi Bond Fund A (020857) posted a net asset value growth of 18.31% over the past year as of June 30, 2026, against a benchmark of 3.08%. Based on interim report holdings, its equity direction leans toward a growth style, and the fund manager has indicated ongoing evaluation of industrial opportunities and adjustment of allocation structures.

On the higher-volatility end of the "Fixed Income Plus" spectrum, the Harvest Wenhong Bond Fund A (003458) achieved a one-year net asset value growth of 39.60% as of June 30 (compared to 1.51% for the benchmark), ranking 4th among all ordinary secondary bond funds market-wide in one-year performance (4/540). Based on its 2026 interim report holdings, Harvest Wenhong Bond holds a relatively higher equity position, placing greater emphasis on convertible bond strategies and dynamically adjusting the equity-debt ratio in response to equity market movements. As of June 30, the Harvest Strategy Preferred Mixed Fund (001756) has delivered a cumulative return of 90.04% since inception (against a benchmark of 51.11%), focusing on long-term appreciation through asset allocation across major asset classes, with historical equity holdings favoring a cyclical-growth style, built on industry cycles with balanced sector allocation.

In response to the wave of wealth management upgrades and the proactive pursuit of "Plus" strategies, Harvest Fund is meeting market demand with a clear product line layout and a solid investment research system, potentially continuing to provide investors with diversified solutions. Please note: Rating data is sourced from Shanghai Securities and Guotai Haitong Securities, as of July 31, 2026. Ranking data is from Galaxy Securities. Performance and benchmark figures are from fund periodic reports, as of June 30, 2026. Past performance does not predict future returns, and the performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. Harvest Steady Ruiqing 6-Month Holding Period Mixed A does not charge a sales service fee. Subscription rates: 0.5% for amounts under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Harvest Steady Ruiqing 6-Month Holding Period Mixed C charges an annual sales service fee of 0.2% and no subscription fee. This fund does not charge a redemption fee, but each subscribed/purchased share is subject to a 6-month lock-up holding period, and investors may only request redemption from the next working day after the lock-up period expires. Operational fees: management fee of 0.6% per annum and custodian fee of 0.1% per annum.

Harvest Wensheng Bond Fund was established on June 3, 2016. Performance and benchmarks for 2021–2025: 2021 (6.01%/2.28%), 2022 (-9.15%/0.19%), 2023 (2.11%/1.66%), 2024 (4.52%/5.43%), 2025 (4.59%/-2.32%). Past fund managers: Zhang Jintao (Jan 12, 2017 – Apr 12, 2019), Wang Yazhou (Sep 10, 2016 – Mar 13, 2020), Hu Yongqing (Jun 3, 2016 – Nov 3, 2020), Wang Liqin (Nov 3, 2020 – Jul 5, 2024), Ma Ding (Jul 12, 2022 – Jul 5, 2024), Li Tao (Nov 3, 2020 – Jul 5, 2024), Li Tong (Jul 5, 2024 – present), Li Xin (Jul 5, 2024 – present), Zhang Qi (Jul 7, 2026 – present). Harvest Wensheng Bond does not charge a sales service fee. Subscription rates: 0.8% for amounts under RMB 1 million, 0.5% for amounts from RMB 1 million to under RMB 3 million, 0.3% for amounts from RMB 3 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.5% for holding periods under 7 days, 0.1% for 7 to 30 days, and 0% for 30 days or more. Operational fees: management fee of 0.6% per annum and custodian fee of 0.1% per annum.

Harvest Anyi Mixed C was established on August 25, 2016. Performance and benchmarks for 2017–2025: 2017 (6.21%/9.83%), 2018 (6.51%/-9.02%), 2019 (4.16%/19.79%), 2020 (4.76%/15.30%), 2021 (7.85%/0.52%), 2022 (1.31%/-9.53%), 2023 (0.72%/-3.47%), 2024 (3.70%/12.10%), 2025 (3.50%/8.86%). Past fund managers: Qu Yang (Aug 25, 2016 – Dec 30, 2020), Wang Yazhou (Sep 3, 2021 – Sep 8, 2022), Lai Lihui (Oct 19, 2020 – present). Harvest Anyi Mixed A does not charge a sales service fee. Subscription rates: 0.8% for amounts under RMB 1 million, 0.4% for amounts from RMB 1 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.5% for holding periods under 7 days, 0.75% for 7 to 30 days, 0.5% for 30 to 180 days, and 0% for 180 days or more. Harvest Anyi Mixed C charges an annual sales service fee of 0.25% and no subscription fee. Redemption rates: 1.5% for holding periods under 7 days, 0.5% for 7 to 30 days, and 0% for 30 days or more. Operational fees: management fee of 0.6% per annum and custodian fee of 0.1% per annum.

Harvest Wenyu Mixed Fund was established on September 13, 2021. Performance and benchmarks for Harvest Wenyu Mixed A/C for 2022–2025: 2022 (0.74%/0.34%, -0.99%), 2023 (3.83%/3.55%, 1.47%), 2024 (8.04%/7.84%, 9.67%), 2025 (3.65%/3.32%, 4.43%). Past fund managers: Lai Lihui (Sep 13, 2021 – Oct 1, 2022), Yan Honglei (Nov 30, 2021 – Sep 12, 2023), Li Jincan (Jun 6, 2022 – Jan 4, 2025), Wang Yazhou (Nov 24, 2024 – present), Lei Ting (Aug 19, 2026 – present). Harvest Wenyu Mixed A does not charge a sales service fee. Subscription rates: 0.80% for amounts under RMB 1 million, 0.50% for amounts from RMB 1 million to under RMB 3 million, 0.30% for amounts from RMB 3 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.50% for holding periods under 7 days, 0.75% for 7 to 30 days, 0.50% for 30 to 180 days, and 0% for 180 days or more. Harvest Wenyu Mixed C charges an annual sales service fee of 0.40% (reduced to 0.30% per annum since May 8, 2024) and no subscription fee. Redemption rates: 1.50% for holding periods under 7 days, 0.50% for 7 to 30 days, and 0% for 30 days or more.

Harvest Wengu Income Bond A does not charge a sales service fee. Subscription rates: 0.80% for amounts under RMB 1 million, 0.50% for amounts from RMB 1 million to under RMB 3 million, 0.30% for amounts from RMB 3 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.5% for holding periods under 7 days, 0.75% for 7 to 90 days, 0.10% for 90 to 365 days, and 0% for 365 days or more. Harvest Wengu Income Bond C charges an annual sales service fee of 0.40% and no subscription fee. Redemption rates: 1.5% for holding periods under 7 days, 0.50% for 7 to 30 days, and 0% for 30 days or more.

Harvest Shuangli Bond A does not charge a sales service fee. Subscription rates: 0.80% for amounts under RMB 1 million, 0.50% for amounts from RMB 1 million to under RMB 3 million, 0.30% for amounts from RMB 3 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.50% for holding periods under 7 days, 0.10% for 7 to 30 days, and 0% for 30 days or more. Harvest Shuangli Bond C charges an annual sales service fee of 0.25% and no subscription fee. Redemption rates: 1.50% for holding periods under 7 days, 0.10% for 7 to 30 days, and 0% for 30 days or more. Harvest Tongzhou Bond A was established on July 24, 2023. Performance and benchmarks for 2024–2025: 2024 (2.46%/9.19%), 2025 (4.77%/2.27%). Past fund managers: Gu Jingjing (Jul 24, 2023 – Feb 6, 2025), Zhang Qingping (Jul 24, 2023 – Feb 6, 2025), Xuan Xuan (Jul 25, 2023 – present), Li Xin (Feb 6, 2025 – present). Harvest Tongzhou Bond subscription fees for Class A: 0.6% for amounts under RMB 5 million, 0.3% for amounts from RMB 5 million to under RMB 10 million, and RMB 1,000 per transaction for amounts of RMB 10 million or more. Redemption fees for Class A: 1.5% for holding periods under 7 days, 0.1% for 7 to 30 days, and 0% for 30 days or more. Class C: 1.5% for holding periods under 7 days and 0% for 7 days or more. Class C sales service fee: 0.4% per annum. Operational fees: management fee of 0.7% per annum and custodian fee of 0.1% per annum.

Harvest Duoli Income Bond A was established on March 23, 2011. The product was transformed from the Harvest Duoli Graded Bond Fund into the Harvest Duoli Income Bond Fund on November 27, 2020. Since the transformation and as of June 30, 2026, the net asset value growth rate and performance benchmark are 51.13%/9.23%. Performance and benchmarks for 2021–2025: 2021 (11.75%/1.66%), 2022 (-3.89%/-2.06%), 2023 (-0.62%/0.36%), 2024 (8.04%/6.54%), 2025 (14.55%/-0.38%). Harvest Duoli Income Bond C was established on October 13, 2022. Since inception and as of June 30, 2026, the net asset value growth rate and performance benchmark are 37.35%/7.70%. Performance and benchmarks for 2023–2025: 2023 (-1.22%/0.36%), 2024 (7.64%/6.54%), 2025 (14.11%/-0.38%). Past fund managers: Wang Qian (Mar 23, 2011 – Nov 28, 2020), Wang Hanbo (Nov 28, 2020 – Jun 23, 2022), Han Tongli (Jun 23, 2022 – Jan 18, 2024), Luo Weiqing (Nov 28, 2020 – Feb 27, 2024), Gao Qunshan (Jul 19, 2022 – Apr 18, 2026), Zhang Qingping (Apr 1, 2026 – present), Yong Dawei (Apr 1, 2026 – present). Harvest Duoli Income Bond A does not charge a sales service fee. Subscription rates: 0.80% for amounts under RMB 1 million, 0.50% for amounts from RMB 1 million to under RMB 2 million, 0.30% for amounts from RMB 2 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.50% for holding periods under 7 days, 0.30% for 7 to 30 days, 0.05% for 30 to 730 days, and 0% for 730 days or more. Harvest Duoli Income Bond C charges an annual sales service fee of 0.40% and no subscription fee. Redemption rates: 1.5% for holding periods under 7 days, 0.30% for 7 to 30 days, and 0% for 30 days or more.

Harvest Duoyi Bond A was established on May 7, 2024. Performance and benchmarks: 2024 (3.91%/6.07%), 2025 (6.48%/2.27%). Past fund managers: Gao Qunshan (May 7, 2024 – Apr 18, 2026), Li Tao and Wu Cui (Apr 11, 2026 – present). Harvest Duoyi Bond A does not charge a sales service fee. Subscription rates: 0.60% for amounts under RMB 5 million, 0.30% for amounts from RMB 5 million to under RMB 10 million, and RMB 1,000 per transaction for amounts of RMB 10 million or more. Redemption rates: 1.5% for holding periods under 7 days, 0.10% for 7 to 30 days, and 0.00% for 30 days or more. Harvest Duoyi Bond C charges an annual sales service fee of 0.4% and no subscription fee. Redemption rates: 1.5% for holding periods under 7 days and 0% for 7 days or more.

Harvest Wenhong Bond A was established on June 2, 2017. Performance and benchmarks for 2021–2025: 2021 (28.27%/1.66%), 2022 (-14.69%/-2.06%), 2023 (-2.80%/0.36%), 2024 (-1.07%/6.54%), 2025 (26.30%/-0.38%). Past fund managers: Hu Yongqing (Jun 2, 2017 – Jan 18, 2021), Lai Lihui (Dec 4, 2020 – present). Harvest Wenhong Bond A does not charge a sales service fee. Subscription rates: 0.80% for amounts under RMB 1 million, 0.50% for amounts from RMB 1 million to under RMB 3 million, 0.30% for amounts from RMB 3 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.50% for holding periods under 7 days, 0.50% for 7 to 30 days, 0.10% for 30 to 365 days, 0.05% for 365 to 730 days, and 0% for 730 days or more. Harvest Wenhong Bond C has no subscription fee, charges an annual sales service fee of 0.35%, and redemption rates of 1.5% for holding periods under 7 days, 0.50% for 7 to 30 days, and 0% for 30 days or more. Harvest Wenhong Bond D does not charge a sales service fee. Subscription rates: 1.00% for amounts under RMB 1 million, 0.60% for amounts from RMB 1 million to under RMB 3 million, 0.40% for amounts from RMB 3 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.50% for holding periods under 7 days and 0% for 7 days or more.

Harvest Strategy Preferred Mixed Fund was established on November 18, 2016. Performance and benchmarks for 2021–2025: 2021 (8.26%/-1.12%), 2022 (-2.65%/-10.94%), 2023 (3.17%/-4.87%), 2024 (5.77%/10.61%), 2025 (8.89%/8.86%). Past fund managers: Ding Jieren (Nov 18, 2016 – Dec 2, 2017), Qu Yang (Dec 1, 2016 – Dec 28, 2019), Xuan Xuan (Nov 5, 2019 – Jun 2, 2023), Lai Lihui (Dec 4, 2020 – Jun 2, 2023), Hu Yongqing (Dec 1, 2016 – present). Harvest Strategy Preferred Mixed does not charge a sales service fee. Subscription rates: 1.50% for amounts under RMB 1 million, 1.00% for amounts from RMB 1 million to under RMB 2 million, 0.60% for amounts from RMB 2 million to under RMB 5 million, and RMB 1,000 per transaction for amounts of RMB 5 million or more. Redemption rates: 1.50% for holding periods under 7 days, 0.75% for 7 to 30 days, 0.50% for 30 to 180 days, and 0% for 180 days or more.

Risk disclosure: Funds carry risks, and investment requires caution. Investors should read legal documents such as the Fund Contract, Prospectus, and Product Summary to understand the fund's risk-return characteristics, particularly its specific risks, and assess whether it is suitable for their own investment objectives, experience, and financial conditions. The fund manager is committed to managing fund assets with integrity, diligence, and prudence, but does not guarantee that the fund will be profitable or that principal will not be lost. Past performance does not predict future results, and the performance of other funds does not constitute a guarantee of this fund's performance. A MACD golden cross signal has formed; these stocks are performing well!