HS TECH Index Earning Revision (Oct): JD, KUAISHOU, XPENG, SMIC, BIDU, MIDEA

Abstract: We analyzed earning revision for HS TECH index component stocks over the past month, where the index's 2026E EPS fell 0.77% month on month to HK$209.3, with 16 stocks revised down versus 5 revised up. The HS TECH index itself fell 8.8% in October, from 4,254 to 3,879, while individual stocks' EPS revisions attributed a combined -HK$2.57 to the index's EPS change. JD led the negative impact with its EPS cut 3.4% to HK$13.3, contributing -HK$0.80 to index EPS, followed by KUAISHOU, whose EPS fell 6.8% to HK$2.60, contributing -HK$0.69. XPENG's EPS rose 5.8% to -HK$2.43, contributing -HK$0.32 despite the upward revision, while SMIC's EPS rose 3.6% to HK$1.41 for a +HK$0.30 contribution. BIDU and MIDEA rounded out the top negative movers, with EPS cuts of 2.6% and 4.2% to HK$5.66 and HK$7.07, contributing -HK$0.24 and -HK$0.22 respectively.