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Hong Kong (HSI) Industrials Sector Analysis

UpdatedApr 13, 2026
DataAggregated Company Financials
Companies482
  • 7D4.6%
  • 3M7.1%
  • 1Y42.6%
  • YTD9.3%

Over the last 7 days, the Industrials industry has risen 4.6%, driven by gains from Weichai Power of 13%. During this same period, the Shenzhen Expressway underperformed, falling 5.6%. This takes the industry's 12 month performance to a gain of 43%. Looking forward, earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Apr 2026HK$5.1tHK$7.8tHK$319.7b11.4x15.9x0.6x
Wed, 11 Mar 2026HK$5.1tHK$7.9tHK$365.2b11.4x13.9x0.6x
Fri, 06 Feb 2026HK$5.0tHK$7.9tHK$357.9b12x13.9x0.6x
Sun, 04 Jan 2026HK$4.6tHK$7.8tHK$355.2b10.9x13x0.6x
Tue, 02 Dec 2025HK$4.5tHK$7.7tHK$351.1b11.2x12.8x0.6x
Thu, 30 Oct 2025HK$4.5tHK$7.6tHK$356.1b11x12.6x0.6x
Sat, 27 Sep 2025HK$4.3tHK$7.6tHK$355.9b10.6x12.2x0.6x
Mon, 25 Aug 2025HK$4.5tHK$7.8tHK$356.3b10.9x12.8x0.6x
Wed, 23 Jul 2025HK$4.5tHK$7.8tHK$366.1b10.7x12.3x0.6x
Fri, 20 Jun 2025HK$4.2tHK$7.8tHK$365.7b10.1x11.4x0.5x
Sun, 18 May 2025HK$4.1tHK$7.8tHK$362.9b10.1x11.3x0.5x
Tue, 15 Apr 2025HK$3.8tHK$7.6tHK$355.2b9.3x10.7x0.5x
Thu, 13 Mar 2025HK$4.0tHK$7.6tHK$386.4b9.3x10.4x0.5x
Sat, 08 Feb 2025HK$3.8tHK$7.6tHK$372.7b8.6x10.3x0.5x
Mon, 06 Jan 2025HK$3.8tHK$7.6tHK$371.2b8.8x10.3x0.5x
Wed, 04 Dec 2024HK$3.9tHK$7.6tHK$373.2b8.4x10.6x0.5x
Fri, 01 Nov 2024HK$3.9tHK$7.7tHK$376.6b8.6x10.4x0.5x
Sun, 29 Sep 2024HK$3.9tHK$7.8tHK$361.7b8.5x10.8x0.5x
Tue, 27 Aug 2024HK$3.6tHK$7.7tHK$373.1b8.2x9.7x0.5x
Thu, 25 Jul 2024HK$3.5tHK$7.4tHK$326.9b8.4x10.7x0.5x
Sat, 22 Jun 2024HK$3.7tHK$7.4tHK$327.7b8.9x11.2x0.5x
Mon, 20 May 2024HK$3.8tHK$7.4tHK$330.5b8.7x11.6x0.5x
Wed, 17 Apr 2024HK$3.5tHK$7.4tHK$328.4b8x10.7x0.5x
Fri, 15 Mar 2024HK$3.5tHK$7.3tHK$354.5b7.7x9.8x0.5x
Sun, 11 Feb 2024HK$3.3tHK$7.3tHK$352.8b7.6x9.2x0.4x
Tue, 09 Jan 2024HK$3.3tHK$7.4tHK$353.2b8.2x9.3x0.4x
Thu, 07 Dec 2023HK$3.2tHK$7.4tHK$354.7b8.2x9x0.4x
Sat, 04 Nov 2023HK$3.2tHK$7.2tHK$350.0b8x9.1x0.4x
Mon, 02 Oct 2023HK$3.3tHK$7.2tHK$352.6b8.1x9.4x0.5x
Wed, 30 Aug 2023HK$3.4tHK$7.1tHK$370.6b8.8x9.2x0.5x
Fri, 28 Jul 2023HK$3.7tHK$7.2tHK$414.9b8.9x8.8x0.5x
Sun, 25 Jun 2023HK$3.6tHK$7.2tHK$413.9b9.4x8.6x0.5x
Tue, 23 May 2023HK$3.2tHK$7.3tHK$417.1b9.3x7.7x0.4x
Thu, 20 Apr 2023HK$3.9tHK$7.4tHK$435.8b9.4x8.9x0.5x
Price to Earnings Ratio

8.9x


Total Market Cap: HK$3.9tTotal Earnings: HK$435.8bTotal Revenue: HK$7.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Industrials Sector Price to Earnings3Y Average 10.8x202420252026
Current Industry PE
  • 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 15.9x which is higher than its 3-year average PE of 10.8x.
  • The industry is trading close to its 3-year average PS ratio of 0.52x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have declined 9.8% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

HK Market2.27%
Industrials4.63%
Machinery8.20%
Electrical7.92%
Aerospace & Defense4.76%
Industrials4.54%
Professional Services4.52%
Logistics4.30%
Airlines3.20%
Trade Distributors2.87%
Marine and Shipping2.85%
Commercial Services2.43%
Construction2.39%
Infrastructure2.34%
Transportation1.99%
Building1.64%
Industry PE
  • Investors are most optimistic about the Machinery industry which is trading above its 3-year average PE ratio of 17.0x.
    • Analysts are expecting annual earnings growth of 24.2%, which is higher than its past year's earnings growth of 7.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 46% over the next 5 years.
  • This is better than its past earnings growth rate of 13% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings decline by 18% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
2338 Weichai PowerHK$32.6812.3%
+HK$30.9b		112.5%PE22.5x
267 CITICHK$12.746.9%
+HK$23.9b		42.8%PE5.5x
1072 Dongfang ElectricHK$40.2413.9%
+HK$16.9b		296.1%PE31.7x
3808 Sinotruk (Hong Kong)HK$47.4411.5%
+HK$13.5b		152.9%PE16.3x
669 Techtronic IndustriesHK$110.605.4%
+HK$10.4b		45.4%PE21.6x

Latest News

1645
HK$2.10
Haina Intelligent Equipment International Holdings
7D
-40.7%
1Y
76.5%
1
HK$63.40
CK Hutchison Holdings
7D
4.4%
1Y
54.3%

1: Telecom Asset Sales And Dividend Plans Will Shape Balanced Future Upside

Analysts have nudged their price target for CK Hutchison Holdings slightly higher to around HK$70.33 from about HK$69.95. This reflects modest tweaks to fair value, discount rate and assumed future P/E that leave the broad outlook largely unchanged in their models.
267
HK$12.74
CITIC
7D
6.9%
1Y
42.8%

267: Higher Dividend Outlook And Stable Assumptions Will Shape Future Repricing

Analysts have slightly lifted their HK$ fair value estimate for CITIC from about HK$13.77 to HK$13.90. This reflects updated assumptions for a smaller revenue decline, a lower profit margin and a higher future P/E multiple.
669
HK$110.60
Techtronic Industries
7D
5.4%
1Y
45.4%

669: Cautious Report Will Test Confidence In Steady Margins And Dividends

Analysts have slightly lifted their price target on Techtronic Industries to reflect a marginally higher assumed future P/E multiple, while also fine tuning discount rate, revenue growth, and profit margin assumptions. What's in the News Jehoshaphat Research issued a cautious report on Techtronic Industries, which may influence how some investors view the company and its risk profile (periodical).
1729
HK$19.35
Time Interconnect Technology
7D
29.0%
1Y
392.4%
1519
HK$10.88
J&T Global Express
7D
5.7%
1Y
98.2%

J&T Global Express' (HKG:1519) Earnings May Just Be The Starting Point

Apr 07
J&T Global Express' (HKG:1519) Earnings May Just Be The Starting Point
656
HK$4.11
Fosun International
7D
-4.2%
1Y
0.5%

656: Share Repurchases And Asset Reset Are Expected To Support Stronger Performance

Analysts have trimmed their price target for Fosun International to HK$5.13 from HK$5.16. This reflects revised assumptions around revenue growth, profit margins and future P/E expectations.
19
HK$86.35
Swire Pacific
7D
-1.3%
1Y
36.5%

19: Fair Outlook Will Hinge On 2026 Dividend Delivery And Earnings Resilience

Analysts have raised their HK$ fair value estimate for Swire Pacific from HK$88.11 to HK$89.74, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E levels in their models. What's in the News Directors declared a second interim dividend of HK$2.50 per A share and HK$0.50 per B share, with payment scheduled for 8 May 2026 to shareholders on the register as of 10 April 2026 (Key Developments).
1133
HK$20.44
Harbin Electric
7D
-1.4%
1Y
385.5%

Shareholders Can Be Confident That Harbin Electric's (HKG:1133) Earnings Are High Quality

Apr 02
Shareholders Can Be Confident That Harbin Electric's (HKG:1133) Earnings Are High Quality
990
HK$0.83
Deep Source Holdings
7D
-4.6%
1Y
133.8%
548
HK$7.55
Shenzhen Expressway
7D
-6.4%
1Y
17.1%

Shenzhen Expressway's (HKG:548) Earnings Offer More Than Meets The Eye

Apr 01
Shenzhen Expressway's (HKG:548) Earnings Offer More Than Meets The Eye
1072
HK$40.24
Dongfang Electric
7D
13.9%
1Y
296.1%
2338
HK$32.68
Weichai Power
7D
12.3%
1Y
112.5%
3808
HK$47.44
Sinotruk (Hong Kong)
7D
11.5%
1Y
152.9%

Sinotruk (Hong Kong) Limited (HKG:3808) Released Earnings Last Week And Analysts Lifted Their Price Target To HK$37.87

Mar 30
Sinotruk (Hong Kong) Limited (HKG:3808) Released Earnings Last Week And Analysts Lifted Their Price Target To HK$37.87
7618
HK$12.26
JINGDONG Industrials
7D
-1.9%
1Y
n/a
2442
HK$28.72
Easy Smart Group Holdings
7D
-23.0%
1Y
2,254.1%