As of June 2nd, 14:54, the Hang Seng TECH ETF E Fund (513010) was priced at HKD 0.671, up 3.55%, with a trading volume of HKD 2.273 billion. The tracked Hang Seng TECH Index rose 3.48% at noon, with Tencent Holdings up over 7% and Meituan up over 7%.

On June 1st, Meituan released its Q1 2026 earnings and held an analyst conference call. Q1 revenue reached HKD 91 billion, a year-on-year increase of 5.6%, with an adjusted loss of HKD 4.97 billion, significantly better than the market estimate of HKD 6.83 billion, and a reduction of over HKD 10 billion compared to the previous quarter's loss. CEO Wang Xing reiterated the core strategy of "Retail + Technology" and announced that Meituan's AI assistant "Xiao Mei" will soon collaborate with Tencent's "Yuan Bao" to achieve cross-border AI distribution. Management clearly stated that as subsidies in the food delivery industry continue to optimize, competition is shifting from cash-burning subsidies to efficiency and experience-driven approaches—Q1 sales and marketing expenses have decreased by approximately HKD 8.8 billion quarter-on-quarter, and the average profit per delivery order in Q2 will significantly improve. Meanwhile, Xiao Xiang Supermarket has covered 55 cities, with product sales revenue soaring 46% year-on-year, and the overseas platform Keeta has achieved breakeven in Hong Kong, with the pace of loss reduction in new businesses accelerating.

Guotai Junan Securities believes that the Hong Kong stock technology sector is currently in a valuation discount recovery window. A comparison of technology valuations between China and the U.S. shows that Tencent has a PE of only 12 times vs. Meta's 19 times, Alibaba's 19 times vs. Amazon's 31 times, and Xiaomi's 21 times vs. Apple's 36 times, indicating that the overall valuation of leading technology stocks in Hong Kong is far lower than that of similar companies in the U.S. The Huawei computing ecosystem and Lenovo's AIPC are accelerating penetration, validating the trend of AI implementation at the edge, while the AI monetization paths for platform companies like Meituan and Tencent are gradually becoming clearer, creating a dual driving force for the performance realization and valuation recovery of technology assets in Hong Kong.

The Hang Seng TECH ETF E Fund (513010) tracks the Hang Seng TECH Index, with a total expense ratio of 0.25% (management fee 0.20% + custody fee 0.05%). The connecting funds are E Fund Hang Seng TECH ETF Connect A (013308) and Connect C (013309)