Narrative Update • May 13
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Hong Kong (HSI) Healthcare Sector Analysis
UpdatedMay 17, 2026
DataAggregated Company Financials
Companies229
- 7D-5.7%
- 3M-13.6%
- 1Y25.6%
- YTD-7.2%
Over the last 7 days, the Healthcare industry has dropped 5.7%, driven by declines in Innovent Biologics and Akeso of 8.9% and 10%, respectively. Over the past 12 months, the industry was up 26%. Earnings are forecast to grow by 29% annually.
Sector Valuation and Performance
Has the Hong Kong Healthcare Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 17 May 2026 | HK$2.4t | HK$1.5t | HK$40.2b | 15.7x | 59.9x | 1.6x |
| Tue, 14 Apr 2026 | HK$2.7t | HK$1.5t | HK$40.5b | 16.2x | 66.3x | 1.8x |
| Thu, 12 Mar 2026 | HK$2.5t | HK$1.5t | HK$36.2b | 15.6x | 68.9x | 1.7x |
| Sat, 07 Feb 2026 | HK$2.6t | HK$1.4t | HK$33.9b | 16.7x | 75.3x | 1.8x |
| Mon, 05 Jan 2026 | HK$2.4t | HK$1.4t | HK$33.8b | 17x | 71.4x | 1.7x |
| Wed, 03 Dec 2025 | HK$2.6t | HK$1.4t | HK$35.0b | 18x | 73.3x | 1.8x |
| Fri, 31 Oct 2025 | HK$2.5t | HK$1.4t | HK$34.7b | 17.9x | 72.2x | 1.8x |
| Sun, 28 Sep 2025 | HK$2.7t | HK$1.5t | HK$37.9b | 18.5x | 70.7x | 1.8x |
| Tue, 26 Aug 2025 | HK$2.7t | HK$1.5t | HK$38.5b | 18.5x | 71.3x | 1.9x |
| Thu, 24 Jul 2025 | HK$2.3t | HK$1.5t | HK$35.9b | 16.7x | 65.1x | 1.6x |
| Sat, 21 Jun 2025 | HK$2.0t | HK$1.5t | HK$33.2b | 14.5x | 58.9x | 1.3x |
| Mon, 19 May 2025 | HK$1.7t | HK$1.4t | HK$33.2b | 14.2x | 50.4x | 1.2x |
| Wed, 16 Apr 2025 | HK$1.6t | HK$1.4t | HK$32.2b | 13.6x | 49.5x | 1.1x |
| Fri, 14 Mar 2025 | HK$1.5t | HK$1.4t | HK$29.8b | 12x | 50.2x | 1.1x |
| Sun, 09 Feb 2025 | HK$1.3t | HK$1.4t | HK$29.0b | 11.2x | 46.5x | 1x |
| Tue, 07 Jan 2025 | HK$1.3t | HK$1.4t | HK$28.8b | 11.4x | 45.4x | 0.9x |
| Thu, 05 Dec 2024 | HK$1.4t | HK$1.4t | HK$29.2b | 12.1x | 46.7x | 1x |
| Sat, 02 Nov 2024 | HK$1.4t | HK$1.5t | HK$29.4b | 12.3x | 46.4x | 0.9x |
| Mon, 30 Sep 2024 | HK$1.4t | HK$1.5t | HK$30.8b | 12.5x | 45.8x | 1x |
| Wed, 28 Aug 2024 | HK$1.2t | HK$1.4t | HK$30.1b | 11.2x | 40.1x | 0.8x |
| Fri, 26 Jul 2024 | HK$1.2t | HK$1.4t | HK$27.6b | 10.8x | 42.9x | 0.8x |
| Sun, 23 Jun 2024 | HK$1.3t | HK$1.4t | HK$28.6b | 10.9x | 44.6x | 0.9x |
| Tue, 21 May 2024 | HK$1.4t | HK$1.4t | HK$28.6b | 12.1x | 49.4x | 1x |
| Thu, 18 Apr 2024 | HK$1.2t | HK$1.4t | HK$28.4b | 11.3x | 43.7x | 0.9x |
| Sat, 16 Mar 2024 | HK$1.4t | HK$1.4t | HK$28.1b | 11.7x | 48.7x | 1x |
| Mon, 12 Feb 2024 | HK$1.3t | HK$1.4t | HK$25.9b | 11.4x | 48.4x | 0.9x |
| Wed, 10 Jan 2024 | HK$1.5t | HK$1.4t | HK$26.1b | 12.3x | 56.6x | 1x |
| Fri, 08 Dec 2023 | HK$1.6t | HK$1.4t | HK$26.4b | 12.3x | 59.1x | 1.1x |
| Sun, 05 Nov 2023 | HK$1.6t | HK$1.4t | HK$25.0b | 13.1x | 65.6x | 1.2x |
| Tue, 03 Oct 2023 | HK$1.6t | HK$1.4t | HK$24.6b | 12.6x | 64.9x | 1.1x |
| Thu, 31 Aug 2023 | HK$1.6t | HK$1.4t | HK$23.6b | 12.1x | 67.5x | 1.1x |
| Sat, 29 Jul 2023 | HK$1.7t | HK$1.3t | HK$14.2b | 14.2x | 122.7x | 1.3x |
| Mon, 26 Jun 2023 | HK$1.6t | HK$1.4t | HK$3.0b | 14x | 530.1x | 1.2x |
| Wed, 24 May 2023 | HK$1.8t | HK$1.4t | HK$3.2b | 15.3x | 562.6x | 1.3x |
Price to Earnings Ratio
562.6x
Current Industry PE
- Investors are pessimistic on the Hong Kong Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 59.9x which is lower than its 3-year average PE of 95.5x.
- The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
- The earnings for companies in the Healthcare industry have grown 132% per year over the last three years.
- Revenues for these companies have grown 3.9% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Hong Kong Healthcare sector?
| HK Market | -1.69% | |
| Healthcare | -5.71% | |
| Life Sciences | -3.31% | |
| Pharma | -3.75% | |
| Medical Equipment | -5.29% | |
| Healthcare Services | -5.56% | |
| Healthtech | -7.84% | |
| Biotech | -7.97% | |
Industry PE
- Investors are most optimistic about the Life Sciences industry which is trading above its 3-year average PE ratio of 19.0x.
- Analysts expect its future annual earnings growth (42.8%) to be largely in line with prior year's earnings growth.
Forecasted Growth
- Analysts are most optimistic on the Healthtech industry, expecting annual earnings growth of 66% over the next 5 years.
- This is better than its past earnings decline of 16% per year.
- In contrast, the Pharma 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 | |
|---|---|---|---|---|---|
| 2269 WuXi Biologics (Cayman) | HK$33.68 | 3.1% +HK$4.2b | 43.0% | PE24.7x | |
| 2105 Laekna | HK$14.84 | 9.9% +HK$563.5m | 4.8% | PS50.8x | |
| 648 SoftMedx Healthcare | HK$0.63 | 43.2% +HK$407.0m | n/a | PE194.2x | |
| 1302 LifeTech Scientific | HK$2.08 | 4.0% +HK$370.5m | 32.5% | PE56.7x | |
| 2552 Hua Medicine (Shanghai) | HK$3.66 | 9.3% +HK$308.9m | 75.1% | PE2.9x |