Abstract: We analyzed the earnings revision of HS TECH index component stocks for June 2026, with the index declining 14% over the month from 4,965 to 4,256. The index's 2026E consensus EPS fell 1.1% month on month to HK$229.2 from HK$231.8, with 11 stocks revised up and 9 revised down. Individual stock EPS revisions contributed an estimated HK$1.03 to the index EPS change, alongside weighting and price yield spread factors. The largest positive contributor to index EPS was MEITUAN (3690 HK), adding HK$3.3 to index EPS despite an 80.5% cut to its own 2026E EPS estimate. The largest detractors were TRIP.COM (9961 HK, index EPS impact -HK$1.1, stock EPS -8.7%), XPENG (9868 HK, index EPS impact -HK$0.70, stock EPS +81.8% on sharply reduced base), LI AUTO (2015 HK, index EPS impact -HK$0.65, stock EPS revised to -HK$0.137 from +HK$0.189), and NTES (9999 HK, index EPS impact -HK$0.61, stock EPS -0.4%). On revenue, LI AUTO saw the steepest consensus cut at -3.84%, followed by TRIP.COM at -2.49%, while BYD Electronic led revenue upgrades at +0.92%.
BYD Electronic, TENCENT, LI AUTO, BILIBILI, NTES, Kuaishou
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