Market Still Lacking Some Conviction On Zhongsheng Group Holdings Limited (HKG:881)
Nov 10
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Hong Kong (HSI) Specialty Stores Industry Analysis
UpdatedNov 14, 2025
DataAggregated Company Financials
Companies57
- 7D4.6%
- 3M-13.5%
- 1Y93.3%
- YTD85.3%
The Specialty Stores industry is up 4.6% in the last week, with Pop Mart International Group up 5.7%. In the same time, XXF Group Holdings was down 15%. In the last 12 months, the industry was up 93%. Earnings are forecast to grow by 24% annually.
Industry Valuation and Performance
Has the Hong Kong Specialty Stores Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 17 Nov 2025 | HK$594.3b | HK$565.0b | HK$11.6b | 11.7x | 51.2x | 1.1x |
| Wed, 15 Oct 2025 | HK$651.4b | HK$564.6b | HK$11.5b | 13.2x | 56.4x | 1.2x |
| Fri, 12 Sep 2025 | HK$692.8b | HK$566.4b | HK$11.8b | 14.4x | 58.5x | 1.2x |
| Sun, 10 Aug 2025 | HK$660.9b | HK$564.0b | HK$13.2b | 12.2x | 50.1x | 1.2x |
| Tue, 08 Jul 2025 | HK$620.7b | HK$562.5b | HK$13.0b | 11.5x | 47.8x | 1.1x |
| Thu, 05 Jun 2025 | HK$573.7b | HK$600.4b | HK$10.0b | 11.9x | 57.4x | 1x |
| Sat, 03 May 2025 | HK$490.7b | HK$591.4b | HK$10.6b | 10.6x | 46.5x | 0.8x |
| Mon, 31 Mar 2025 | HK$425.9b | HK$594.1b | HK$10.4b | 10.2x | 40.8x | 0.7x |
| Wed, 26 Feb 2025 | HK$339.6b | HK$611.8b | HK$14.0b | 8.6x | 24.2x | 0.6x |
| Fri, 24 Jan 2025 | HK$300.5b | HK$611.1b | HK$14.0b | 9.7x | 21.5x | 0.5x |
| Sun, 22 Dec 2024 | HK$308.2b | HK$609.3b | HK$13.8b | 9.7x | 22.3x | 0.5x |
| Tue, 19 Nov 2024 | HK$294.0b | HK$626.9b | HK$16.7b | 9.1x | 17.6x | 0.5x |
| Thu, 17 Oct 2024 | HK$249.4b | HK$626.2b | HK$16.8b | 9.3x | 14.8x | 0.4x |
| Sat, 14 Sep 2024 | HK$213.7b | HK$629.0b | HK$16.9b | 8.6x | 12.7x | 0.3x |
| Mon, 12 Aug 2024 | HK$219.6b | HK$638.2b | HK$18.5b | 8.2x | 11.9x | 0.3x |
| Wed, 10 Jul 2024 | HK$237.7b | HK$632.2b | HK$18.4b | 7.7x | 12.9x | 0.4x |
| Fri, 07 Jun 2024 | HK$273.5b | HK$621.7b | HK$18.0b | 8.1x | 15.2x | 0.4x |
| Sun, 05 May 2024 | HK$289.4b | HK$621.8b | HK$17.8b | 8.2x | 16.2x | 0.5x |
| Tue, 02 Apr 2024 | HK$282.3b | HK$623.4b | HK$18.2b | 8.6x | 15.5x | 0.5x |
| Thu, 29 Feb 2024 | HK$278.1b | HK$625.1b | HK$18.7b | 9.3x | 14.9x | 0.4x |
| Sat, 27 Jan 2024 | HK$270.1b | HK$628.6b | HK$18.8b | 9.5x | 14.4x | 0.4x |
| Mon, 25 Dec 2023 | HK$282.2b | HK$628.6b | HK$18.8b | 10.6x | 15x | 0.4x |
| Wed, 22 Nov 2023 | HK$308.4b | HK$620.7b | HK$17.5b | 8.9x | 17.7x | 0.5x |
| Fri, 20 Oct 2023 | HK$286.3b | HK$608.8b | HK$16.8b | 9.4x | 17.1x | 0.5x |
| Sun, 17 Sep 2023 | HK$310.8b | HK$611.4b | HK$16.8b | 10.5x | 18.4x | 0.5x |
| Tue, 15 Aug 2023 | HK$377.0b | HK$609.8b | HK$17.6b | 9.3x | 21.4x | 0.6x |
| Thu, 13 Jul 2023 | HK$412.3b | HK$626.7b | HK$11.6b | 10.4x | 35.5x | 0.7x |
| Sat, 10 Jun 2023 | HK$403.5b | HK$631.8b | HK$11.4b | 11.2x | 35.5x | 0.6x |
| Mon, 08 May 2023 | HK$441.7b | HK$680.2b | HK$12.9b | 13.1x | 34.4x | 0.6x |
| Wed, 05 Apr 2023 | HK$429.3b | HK$682.9b | HK$14.0b | 11.4x | 30.6x | 0.6x |
| Fri, 03 Mar 2023 | HK$444.4b | HK$661.2b | HK$19.9b | 10.7x | 22.3x | 0.7x |
| Sun, 29 Jan 2023 | HK$501.8b | HK$668.8b | HK$20.1b | 11.3x | 25x | 0.8x |
| Tue, 27 Dec 2022 | HK$426.5b | HK$654.1b | HK$19.8b | 9.5x | 21.6x | 0.7x |
| Thu, 24 Nov 2022 | HK$375.8b | HK$639.6b | HK$19.7b | 8.8x | 19.1x | 0.6x |
Price to Earnings Ratio
19.1x
Current Industry PE
- Investors are optimistic on the Hong Kong Specialty Retail industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 51.2x which is higher than its 3-year average PE of 26.7x.
- The 3-year average PS ratio of 0.63x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
- The earnings for companies in the Specialty Retail industry have declined 16% per year over the last three years,
- Revenues have also declined 3.9% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Hong Kong Consumer Discretionary industry?
| HK Market | 1.84% | |
| Consumer Discretionary | 2.25% | |
| Specialty Stores | 4.56% | |
| Specialty Stores | 6.30% | |
| Apparel Retail | 0.55% | |
| Computer and Electronics Retail | -1.95% | |
| Automotive Retail | -1.99% | |
| Home Improvement Retail | -3.01% | |
| Home Furnishing Retail | -17.99% | |
Industry PE
- Investors are most optimistic about the Specialty Stores industry which is trading above its 3-year average PE ratio of 25.6x.
- Analysts are expecting annual earnings growth of 23.0%, which is higher than its past year's earnings decline of 7.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Automotive Retail industry, expecting annual earnings growth of 40% over the next 5 years.
- This is better than its past earnings decline of 37% per year.
- In contrast, the Apparel Retail industry is expected to see its earnings grow by 15% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 9992 Pop Mart International Group | HK$216.40 | 5.7% +HK$15.4b | 188.0% | PE38.7x | |
| 1929 Chow Tai Fook Jewellery Group | HK$15.00 | 8.5% +HK$11.5b | 109.5% | PE25x | |
| 6110 Topsports International Holdings | HK$3.37 | 7.7% +HK$1.5b | 37.6% | PE15.9x | |
| 881 Zhongsheng Group Holdings | HK$12.04 | 3.1% +HK$852.1m | -31.0% | PE9.8x | |
| 590 Luk Fook Holdings (International) | HK$24.56 | 2.7% +HK$375.7m | 66.8% | PE13.1x |
