Abstract: We analyzed the 2026E EPS and revenue revisions for HS TECH index component stocks in April 2026, finding that the index's consensus 2026E EPS fell -1.5% month-on-month to HK$236.9 from HK$240.5, with individual stock EPS revisions contributing -HK$1.89 to the index EPS change. The HS TECH index rose 5.4% over the month from 4,650 to 4,902, despite the deteriorating earnings outlook, with only 7 stocks seeing upward EPS revisions versus 15 revised down. On index EPS impact, MEITUAN (3690 HK) was the largest detractor at -HK$0.76, while JD.COM (9618 HK) was the top positive contributor at +HK$0.74, followed by XIAOMI (1810 HK, -HK$0.58), ALIBABA (9988 HK, -HK$0.54), and BYD (1211 HK, -HK$0.39). On stock-level EPS revisions, MEITUAN led gains with a +1,487% increase in 2026E EPS estimates, while BYD Electronic (285 HK) saw the steepest cut at -8.25%, followed by KINGSOFT (3888 HK, -4.97%) and ALIBABA (9988 HK, -2.99%).
JD.COM, MEITUAN, HORIZON ROBOTICS, Alibaba Health, ALIBABA, BYD
A monthly review of consensus earnings revisions for HS TECH constituents. Each issue estimates how the index's forward EPS changed over the month, and tabulates the stocks with the largest impact on index EPS alongside their EPS and revenue revisions. All issues of Index Earnings Revision Monthly →
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