Abstract: We analyzed the September 2026 earnings revision of HS TECH Index component stocks, finding that the index 2026E EPS fell 4.3% month-on-month to HK$208.7 from HK$218.1, with individual stock EPS revisions contributing -HK$3.87 to the index EPS change. The index itself declined 6.7% over the month from 4,620 to 4,312, with 10 stocks seeing upward EPS revisions versus 16 downward. By index EPS impact, the top detractors were BIDU (-HK$4.45), TONGCHENG TRAVEL (-HK$3.34), MINIMAX (-HK$3.20), KUAISHOU (-HK$2.61), and XIAOMI (-HK$1.61), while TRIP.COM was the largest positive contributor at +HK$3.25. At the stock level, the largest EPS upgrades were LI AUTO (+44.3%), NIO (+28.2%), and HORIZONROBOT (+26.9%), while the largest EPS cuts were SENSETIME (-30.2%), BYD Electronic (-7.21%), and BIDU (-4.76%). On revenue, KNOWLEDGE ATLAS led upgrades at +35.2%, while HORIZONROBOT saw the steepest revenue cut at -8.80%.
MEITUAN, ILUVATAR COREX, BYD Electronic, XIAOMI, TONGCHENG TRAVEL, TRIP.COM
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