Has the Hong Kong Industrials Sector valuation changed over the past few years?

Investors are optimistic on the Hong Kong Industrials industry, and appear confident in long term growth rates. The industry is trading at a PE ratio of 16.6x which is higher than its 3-year average PE of 11.0x. The industry is trading close to its 3-year average PS ratio of 0.52x.

Which industries have driven the changes within the Hong Kong Industrials sector?

Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio. Analysts are expecting annual earnings growth of 15.3%, which is lower than the prior year's growth of 34.5% per year.

Hong Kong (HSI) Industrials Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 08 May 2026	HK$5.3t	HK$7.9t	HK$319.9b	12x	16.6x	0.7x
Sun, 05 Apr 2026	HK$4.9t	HK$7.8t	HK$318.1b	11.3x	15.3x	0.6x
Tue, 03 Mar 2026	HK$5.2t	HK$7.9t	HK$364.0b	11.7x	14.3x	0.7x
Thu, 29 Jan 2026	HK$4.9t	HK$7.8t	HK$357.3b	11.6x	13.8x	0.6x
Sat, 27 Dec 2025	HK$4.6t	HK$7.8t	HK$353.8b	11.1x	12.9x	0.6x
Mon, 24 Nov 2025	HK$4.4t	HK$7.7t	HK$349.1b	10.8x	12.6x	0.6x
Wed, 22 Oct 2025	HK$4.4t	HK$7.6t	HK$355.2b	11x	12.5x	0.6x
Fri, 19 Sep 2025	HK$4.5t	HK$7.8t	HK$354.4b	10.7x	12.8x	0.6x
Sun, 17 Aug 2025	HK$4.5t	HK$7.8t	HK$356.9b	11.1x	12.7x	0.6x
Tue, 15 Jul 2025	HK$4.3t	HK$7.8t	HK$366.4b	10x	11.8x	0.6x
Thu, 12 Jun 2025	HK$4.2t	HK$7.8t	HK$365.0b	10x	11.6x	0.5x
Sat, 10 May 2025	HK$4.0t	HK$7.7t	HK$360.3b	10x	11x	0.5x
Mon, 07 Apr 2025	HK$3.9t	HK$7.7t	HK$356.5b	9.6x	10.9x	0.5x
Wed, 05 Mar 2025	HK$3.9t	HK$7.6t	HK$370.5b	9x	10.6x	0.5x
Fri, 31 Jan 2025	HK$3.8t	HK$7.6t	HK$374.0b	8.8x	10.3x	0.5x
Sun, 29 Dec 2024	HK$4.0t	HK$7.6t	HK$371.9b	8.9x	10.7x	0.5x
Tue, 26 Nov 2024	HK$3.9t	HK$7.6t	HK$375.6b	8.4x	10.3x	0.5x
Thu, 24 Oct 2024	HK$4.0t	HK$7.7t	HK$358.7b	8.8x	11.1x	0.5x
Sat, 21 Sep 2024	HK$3.6t	HK$7.8t	HK$360.8b	8.1x	9.8x	0.5x
Mon, 19 Aug 2024	HK$3.6t	HK$7.6t	HK$364.3b	8.2x	9.9x	0.5x
Wed, 17 Jul 2024	HK$3.5t	HK$7.4t	HK$327.0b	8.5x	10.8x	0.5x
Fri, 14 Jun 2024	HK$3.7t	HK$7.4t	HK$328.2b	8.8x	11.2x	0.5x
Sun, 12 May 2024	HK$3.8t	HK$7.4t	HK$331.3b	8.8x	11.4x	0.5x
Tue, 09 Apr 2024	HK$3.5t	HK$7.4t	HK$330.8b	8.1x	10.6x	0.5x
Thu, 07 Mar 2024	HK$3.4t	HK$7.3t	HK$352.2b	7.9x	9.7x	0.5x
Sat, 03 Feb 2024	HK$3.2t	HK$7.4t	HK$355.3b	7.7x	9x	0.4x
Mon, 01 Jan 2024	HK$3.4t	HK$7.4t	HK$354.9b	8.2x	9.5x	0.5x
Wed, 29 Nov 2023	HK$3.2t	HK$7.4t	HK$353.3b	8x	9.2x	0.4x
Fri, 27 Oct 2023	HK$3.1t	HK$7.2t	HK$350.6b	7.9x	9x	0.4x
Sun, 24 Sep 2023	HK$3.3t	HK$7.2t	HK$351.2b	8.2x	9.5x	0.5x
Tue, 22 Aug 2023	HK$3.4t	HK$7.1t	HK$369.9b	8.6x	9.2x	0.5x
Thu, 20 Jul 2023	HK$3.6t	HK$7.2t	HK$413.6b	8.9x	8.7x	0.5x
Sat, 17 Jun 2023	HK$3.7t	HK$7.3t	HK$415.1b	9.3x	8.9x	0.5x
Mon, 15 May 2023	HK$3.8t	HK$7.4t	HK$419.0b	9.4x	9x	0.5x


HK Market	-0.53%
Industrials	1.65%
Machinery	6.37%
Professional Services	5.25%
Airlines	4.09%
Building	3.82%
Industrials	3.50%
Transportation	1.40%
Marine and Shipping	0.59%
Infrastructure	-0.38%
Commercial Services	-0.56%
Construction	-0.91%
Electrical	-1.43%
Trade Distributors	-1.58%
Aerospace & Defense	-1.98%
Logistics	-2.94%

Company	Last Price	7D	1Y	Valuation
2338 Weichai Power	HK$43.70	13.1% +HK$43.7b	194.9%	PE29x
1 CK Hutchison Holdings	HK$73.00	12.2% +HK$30.4b	65.3%	PE23.6x
669 Techtronic Industries	HK$126.30	12.9% +HK$26.3b	49.2%	PE24.6x
267 CITIC	HK$13.75	6.6% +HK$24.7b	42.9%	PE5.9x
66 MTR	HK$35.02	5.0% +HK$10.3b	30.2%	PE14.9x

Announcement • Jan 17

Affluent Foundation Holdings Limited Announces Board Changes , Effective 15 January 2026

The board of directors of Affluent Foundation Holdings Limited announced that with effect from 15 January 2026: Mr. Chan Siu Cheong (Mr. Chan) has tendered his resignation as an executive Director and chief executive officer of the Company in order to devote more time to his other business arrangements and engagements; Mr. Sin Ka Pong (Mr. Sin) has tendered his resignation as an executive Director in order to devote more time to his other business arrangements and engagements; Ms. Chan Mei Po (Ms. Chan) has tendered her resignation as an executive Director in order to devote more time to her other business arrangements and engagements; Mr. Lau Leong Ho (Mr. Lau) has tendered his resignation as an independent non-executive Director (INED) in order to devote more time to his other business arrangements and engagements; Mr. Ho Chi Wai (Mr. Ho) has tendered his resignation as an INED in order to devote more time to his other business arrangements and engagements; Mr. Cheung Kwok Yan Wilfred (Mr. Cheung) has tendered his resignation as an INED in order to devote more time to his other business arrangements and engagements. The Board announced that with effect from 15 January 2026: Ms. Zhang Zhang (Ms. Zhang) has been appointed as a non-executive Director (NED); Ms. Cheng Shing Yan (Ms. Cheng) has been appointed as an INED; Mr. Tsoi Chi Hei (Mr. Tsoi) has been appointed as an INED; and Ms. Zhou Wencan (Ms. Zhou) has been appointed as an INED. Ms. Zhang, aged 38, possesses extensive experience in the media and entertainment industry. From August 2024 to November 2025, Ms. Zhang served as a Business Development Manager at Grande Capital Limited, a licensed corporation permitted to carry out Type 1 (dealing in securities) and Type 6 (advising on corporate finance) regulated activities under the Securities and Futures Ordinance (Cap.571 of the Laws of Hong Kong). Ms. Zhang was Vice President of Starlight Culture Entertainment Group Limited. From November 2014 to December 2021, during which she was responsible for business development, financing, project risk management, and investor relations. Since December 2024, Ms. Zhang has been an independent non-executive Director of Kingland Group Holdings Limited. Ms. Zhang obtained a Bachelor's degree in Finance from Beijing Technology and Business University in July 2009 and a Master of Business Administration from St. John's University, New York in September 2012. Ms. Cheng, aged 50, has over 21 years of experiences in accounting and finance. Ms. Cheng held different positions at Ernst & Young Business Services Ltd. from January 2004 to December 2008, where she last served as a manager of the assurance and advisory business services department. She then worked at Baker Tilly Hong Kong Business Services Limited as an audit manager from March 2009 to July 2010. She held different positions at SHINEWING (HK) CPA Limited from November 2010 to April 2016, where she last served as a senior audit manager. Ms. Cheng joined the group of Sanroc International Holdings Limited (now known as Seven Elements Investment Holdings Limited), and served as the chief financial officer from April 2016 to April 2018. Since April 2018, she has been the chief financial officer of Sanroc International (Hong Kong) Limited and certain subsidiaries of Sanroc. Since December 2023, she has been the joint company secretary of China New Consumption Group Limited. Ms. Cheng obtained a degree of Master of Arts in International Accounting from the City University of Hong Kong in November 2003. She was admitted as a certified public accountant of the Hong Kong Institute of Certified Public Accountants in July 2003, a fellow of The Association of Chartered Certified Accountants in December 2005, an associate of The Chartered Governance Institute in June 2017 and an associate of The Hong Kong Chartered Governance Institute in June 2017. Mr. Tsoi, aged 38, has over 15 years of experiences in accounting and finance. Mr. Tsoi held different positions at Poon & Co. CPA from September 2010 to July 2012, where he last served as an audit semi-senior. He then worked at Shinewing (HK) CPA Limited from July 2012 to December 2014, where he last served as a senior accountant II. Mr. Tsoi joined KPMG in December 2014 and left as a manager in January 2017. He has been a financial controller and a company secretary at Noble Engineering Group Holdings Limited, the shares of which are listed on the GEM of the Stock Exchange since April 2017. Mr. Tsoi was admitted as a certified public accountant of the Hong Kong Institute of Certified Public Accountants in March 2014. Ms. Zhou, aged 31, has over 9 years of experience in accounting and audit. Ms. Zhou is a Certified Public Accountant of the PRC. From July 2015 to May 2024, Ms. Zhou served as an audit manager at Asia Pacific (Group) Certified Public Accountants LLP, Shenzhen Branch. From June 2024 to September 2025, she served as a senior manager at Zanda (Shenzhen) Certified Public Accountants (Special General Partnership). Upon the resignation of Mr. Chan, he ceased to be the chairman of the nomination committee. Upon the resignation of Mr. Sin, he ceased to be a member of the Remuneration Committee. Upon the resignation of Ms. Chan, she ceased to be a member of the Nomination Committee. Upon the resignation of Mr. Lau, he ceased to be a member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee. Upon the resignation of Mr. Ho, he ceased to be the chairman of the Audit Committee and a member of the Nomination Committee. Upon the resignation of Mr. Cheung, he ceased to be the chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee. With effect from 15 January 2026, Mr. Zhou Zhenlin has been appointed as the chairman of the Nomination Committee, Mr. Tsoi has been appointed as the chairman of the Audit Committee, and Ms. Zhou has been appointed as the chairwoman of the Remuneration Committee. Upon the resignation of Mr. Chan, Mr. Sin, Ms. Chan, Mr. Lau, Mr. Ho and Mr. Cheung, and the appointment of Ms. Zhang, Ms. Cheng, Mr. Tsoi and Ms. Zhou, (i) the Audit Committee comprises two independent non-executive Directors as members, namely Ms. Cheng and Ms. Zhou; (ii) the Remuneration Committee comprises two independent non-executive Directors as members, namely Ms. Cheng and Mr. Tsoi; and (iii) the Nomination Committee comprises three independent non-executive Directors as members, namely Ms. Cheng, Mr. Tsoi and Ms. Zhou.

Hong Kong (HSI) Industrials Sector Analysis

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Industry Trends

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