[Chasing the Lagging] The Hang Seng Index surged 600 points on Wednesday, looking for treasure in lagging stocks, consider paying attention to Xiaomi purchase 24444 / Meituan purchase 23187

Xiaomi (1810), leveraging its smartphone ecosystem and brand appeal, is venturing into the new energy vehicle sector. Its first pure electric sedan, the SU7, is expected to achieve sales of 258,000 units in mainland China in 2024, nearly 30% higher than Tesla's Model 3, indicating its capability to challenge Tesla in the mid-to-high-end smart electric vehicle market. However, the company's stock price has fallen over 40% from its peak, making it the third worst-performing stock among the Hang Seng Index constituents this year. If you are optimistic about Xiaomi's stock price recovery, you may consider the call warrant (24444) with an exercise price of HKD 48.02, expiring in June 2026, with an actual leverage of 7.2 times. Conversely, for bearish positions, you may look at the put warrant (23111) with an exercise price of HKD 29.86, expiring in July 2026, with an actual leverage of 5.4 times. Among the Hang Seng Index constituents, Meituan (3690) is the fifth worst performer this year, having dropped over 50% year-to-date, lagging behind the 8% rebound of the Hang Seng Index. If you are optimistic about Meituan's further rebound along with the market, you may consider the call warrant (23187) with an exercise price of HKD 108.6, expiring in May 2026, with an actual leverage of 7.2 times. Conversely, for bearish positions, you may look at the put warrant (21291) with an exercise price of HKD 82.83, expiring in July 2026, with an actual leverage of 5.2 times. Disclaimer This structured product is not secured; if the issuer is unable to repay or defaults, investors may not recover part or all of the receivables. This document is issued by HSBC Bank (Hong Kong) Limited ("the Bank" or "the Issuer") (including any reference terms) for reference only and does not constitute an offer, solicitation, or recommendation to sell or purchase structured products. Structured products are complex products, and investors must act prudently regarding them. Unless investors fully understand and are willing to assume the risks involved, they should not invest in this product. The prices of structured products can rise or fall sharply, and investors may lose all or a substantial part of their investment. Past performance does not reflect future performance. Investors should understand the nature and risks of structured products before investing and carefully read the relevant offering documents to independently determine whether they are suitable for themselves. The Bank and its appointed liquidity providers may be the only market participants for the structured products, and the secondary market for structured products may be limited. Please note that bull and bear certificates have a mandatory redemption mechanism, which may lead to early termination. In this case, (i) investors in type N bull and bear certificates will lose their entire investment in the certificates; and (ii) the remaining value of type R bull and bear certificates may be zero. Trading structured products linked to U.S. indices may carry additional risks, including: (a) risks related to differences in trading days and trading hours; (b) limited public information regarding the index or lack of a Chinese version; (c) political and economic risks related to the index (e.g., the U.S.); (d) exchange rate risks; (e) potential settlement delays; (f) announcement of index levels when there is no trading in the constituent stocks; and (g) mandatory redemption events for U.S. index bull and bear certificates occurring during non-trading hours The author is a licensed person of the Hong Kong Monetary Authority and the Securities and Futures Commission, and does not hold any direct or indirect interests in structured products or related assets. Information / Usage Unless specifically stated, the information in this article is provided by our institution to Hong Kong residents ("Hong Kong residents") for financial, market, or other information and data ("Information"). Non-Hong Kong residents should not rely on or make any decisions based on the information in the video. If you are not a Hong Kong resident and use this video, you may be in violation of the laws applicable to you. Our institution and all HSBC Group companies shall not be liable for any and all responsibilities arising from your use of the video as a non-Hong Kong resident. "HSBC Group companies" refer to HSBC Holdings plc and any subsidiaries or affiliated companies