Common meaning:

Communication of threats and abuse toward a particular group. Typically this display of prejudice will target race, religion or sexuality.

Hidden meaning of the Equity religion: 

Any speech that declares the ideals of Liberalism is hate speech and will be labeled as fascism.

Discussion:

The Equity faithful believe that the ideals of liberalism have been used to oppress the marginalized. 

The religion of Equity considers even the smallest support for liberal values like free speech, innocent until proven guilty, individual rights and equality before the law, to be evil. It says that people who promote these values need to be silenced; by declaring these ideas they are committing violence against the marginalized and at that point can be considered fascist. 

Equity believers actually think that people from dominant groups who say liberal values are promoting hate speech, and people from minoritized groups who declare only some lives matter and go back to where you came from are not promoting hate speech.

Liberalism is not the enemy, it is what keeps our Western societies functioning. Remove it at your own risk.