CITIC Securities: The adjustment of the Hang Seng Technology Index has a significant event effect.

According to a research report by CITIC Securities, on August 10, 2026, the Hang Seng Index Company will seek market opinions on the revised methodology for calculating the Hang Seng Tech Index. This revision mainly includes two aspects. First, it expands the theme coverage by removing the original industry classification requirements, revising the six major technology themes, and increasing the number of sub-themes from 16 to 24. Second, it introduces a grouped stock selection mechanism, adjusting the selection range to constituents of the Hang Seng Composite Large and Mid-Cap Index, with the number of constituents increasing from 30 to 50. Among these, 40 will be selected based on market capitalization rankings, while the remaining 10 will be supplemented by the revenue growth group. According to calculations, 10 stocks from the market capitalization group, such as CATL, Longi Green Energy, and Tianxu Zhixin, are expected to be added to the Hang Seng Tech Index, and 10 stocks from the revenue growth group, including Kingsoft Cloud, MAFH, and Dippin, are also likely to be included. Following the expansion, it is anticipated that there will be a total influx of approximately HKD 36 billion in passive funds for the stocks added to the index, with the market capitalization group and revenue growth group contributing about HKD 28.5 billion and HKD 7.5 billion, respectively. Overall, the adjustment of the Hang Seng Tech Index has a significant event effect, and it is recommended to seize investment opportunities for stocks likely to be included in the index while also paying attention to the downside risks for stocks that may be excluded.