BCI LabAssets Public Protocol Annex
Governance & Protocol  ·  Public Disclosure Document

BCI Public Protocol Annex

The minimal public disclosure of how BCI's structural readings are scored in the luxury hard-asset sector, and what remains proprietary.

Version: 1.1 Supersedes: v1.0 (Feb 2026) Effective: September 10, 2026 Applies to: Category B Reports, Luxury Hard-Asset Sector
Version Note — v1.0 → v1.1

This revision does not change the score bands published in v1.0, which remain in effect and are cited as current in the BCI Structural Integrity Protocol. It corrects language that had drifted out of step with that protocol, most significantly a reference to a statistical confidence interval that BCI Lab has since retired. Two named mechanisms with no corresponding published methodology have been removed rather than carried forward as though they were operational.

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I.Purpose

This Annex is a minimal public disclosure reference for how BCI Lab's structural readings are scored in the luxury hard-asset sector. It states the model's shape and the current sector-specific score bands. It does not disclose the specific weighting coefficients, sector-adjustment parameters, or internal calibration data behind an individual reading, which remain proprietary.

This Annex is read together with the BCI Structural Integrity Protocol and the Independence & Conflict of Interest Policy, and does not restate either in full.

II.Model Architecture

BCI's structural readings are built on four variables, defined in full in the BSIP.

MTMeaning Tension

The degree to which a brand commands price for what it means, not what it costs to produce.

PLPerceptual Legibility

How easily the brand's value proposition is read, understood, and copied by the market. A higher reading means lower cognitive friction and greater commoditization, an unfavorable direction for pricing power.

TSTime Structure

Whether a premium compounds across years or is spent down within a season.

ESEnergy State

Whether the system generating the premium is being reinvested in or extracted from.

Meaning Tension and Time Structure sit in the numerator; Perceptual Legibility and Energy State's extraction rate sit in the denominator.

BCI  =  (MT × TSn) ÷ (PL × ES−1)

The master formula is published in full in the BSIP. What remains proprietary is the specific weighting and calibration architecture applied within it, not the formula's structure.

III.Calibration Principles

A sector-median or peer-median benchmark is computed only where a comparable set of at least six genuinely similar companies can be assembled, under the inclusion and exclusion criteria set out in the BSIP's Comparable Company Selection Standard. Below that threshold, an absolute reading is disclosed with its data-reliability grade instead of a manufactured relative one.

Inputs are smoothed to remove seasonal anomalies before they enter a reading; a single reporting period does not confirm a structural shift.

Every input is graded for reliability under the BCI Data Reliability Grade (DRG) standard, disclosed per variable alongside the reading it supports. BCI Lab does not publish a statistical confidence interval or margin of error on a composite score. A data-reliability grade and a statistical confidence interval are different claims, and BCI Lab does not present one as the other.

IV.Scoring Discipline

A BCI score describes a structural condition. It is not an ordinal ranking against peers, and a score in one sector is not directly comparable to a score in another.

R1, R3, and R5 are BCI's universal, cross-sector rating tiers, defined in the BSIP. The bands below are the sector-specific numeric implementation of that same tier system for the luxury hard-asset sector, where the population of covered assets skews structurally high:

BandDescription
9.0+Structural Apex, sovereignty dominant
8.5–8.9High Integrity, defensive premium
8.0–8.4Stable Sovereign, efficiency constraint
7.5–7.9Transitional, friction emerging
<7.5Structural Dilution Risk

A score reflects the structural state as of the data cut-off date. It does not imply forward financial performance.

V.Forward Scenarios

Where a report includes a structural forward scenario, it applies the BSIP's trend formula to describe a directional trajectory built from an asset's current and historical structural state. A scenario is a probabilistic structural description. It is not a forecast, a valuation, or a point-estimate outcome, and is not presented as one.

VI.Reassessment

An asset's Energy State reading is reassessed ahead of its normal review cycle on a defined trigger: a major reputational or public-relations event with observable demand impact, or a structural, non-transient supply-chain disruption. Pending that reassessment, the Energy State reading defaults to an extractive-state assumption rather than carrying the pre-event reading forward. The trigger categories are disclosed; the specific numeric thresholds used to detect a deviation within an individual engagement are engagement-specific and are not.

VII.Independence & Data Ethics

BCI Lab accepts no asset-level compensation linkage and makes no brand-funded calibration adjustment. No score is altered retroactively without a formal, version-controlled amendment. Full independence commitments and safeguards are set out in the Independence & Conflict of Interest Policy, which this Annex does not restate.

VIII.Limitation of Scope

A BCI Structural Attribution Report is not a credit rating, a fairness opinion, or investment advice, and does not replace a statutory financial audit or an evaluation of management competence. It provides a structural diagnostic of an intangible asset's pricing-power durability.

IX.Version Control

This is a living public disclosure document. A material change to its content is dated, logged with a change identifier, and recorded in the Methodology Version Register, which is the authoritative record of this Annex's version history.

Approved by: Amanda Zhang, Founding Partner, BCI Lab Effective: September 10, 2026
Version Authority — This document does not assert its own precedence over other BCI Lab methodology documents. The authoritative record of every publicly released BCI Lab document, its version number, and its relationship to every other document is maintained in the Methodology Version Register.
Rating Limitation — This document and BCI Lab's published research do not constitute a credit rating, securities analysis, valuation opinion, or investment advice under any capital markets regulatory framework.
Jurisdictional Limitation — This document and BCI Lab's frameworks and reports generally are governed exclusively by the laws of the Hong Kong Special Administrative Region.
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