Abstract: We analyzed the earnings revision of HSCEI component stocks for May 2026, covering consensus EPS and revenue estimate changes over the month. The HSCEI index declined 2.5% in May, from 8,682 to 8,463, while the index's 2026E EPS was nearly flat, edging up 0.037% month on month to HK$813.1 from HK$812.8, with 30 stocks revised up and 17 revised down. The largest negative contributors to index EPS were Meituan (3690 HK, impact: -HK$2.2), Xiaomi (1810 HK, -HK$1.6), and Kuaishou (1024 HK, -HK$0.97), while CCB (939 HK, +HK$1.6) and ICBC (1398 HK, +HK$1.4) were the top positive contributors. At the stock level, Meituan posted the largest EPS upgrade at +314% month on month, followed by Horizon Robotics at +15.1%, while Li Auto suffered the steepest cut at -27.5%, followed by Kuaishou at -8.3% and Xiaomi at -7.6%. On revenue, Innovent Biologics led upgrades at +5.97%, while Xiaomi saw the sharpest revenue cut at -4.45%.
China Unicom, HORIZON ROBOTICS, ICBC, INNOVENT BIOLOGICS, MEITUAN, KE
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