Reliable molecular property prediction is essential for various scientific endeavors and industrial applications, such as drug discovery. However, the scarcity of data, combined with the highly non-linear causal relationships between physicochemical and biological properties and conventional molecular featurization schemes, complicates the development of robust molecular machine learning models. Self-supervised learning (SSL) has emerged as a popular solution, utilizing large-scale, unannotated molecular data to learn a foundational representation of chemical space that might be advantageous for downstream tasks. Yet, existing molecular SSL methods largely overlook domain-specific knowledge, such as molecular similarity and scaffold importance, as well as the context of the target application when operating over the large chemical space. This paper introduces a novel learning framework that leverages the knowledge of structural hierarchies within molecular structures, embeds them through separate pre-training tasks over distinct channels, and employs a task-specific channel selection to compose a context-dependent representation. Our approach demonstrates competitive performance across various molecular property benchmarks and establishes some state-of-the-art results. It further offers unprecedented advantages in particularly challenging yet ubiquitous scenarios like activity cliffs with enhanced robustness and generalizability compared to other baselines.