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Hong Kong (HSI) Industrials Sector Analysis

UpdatedMay 25, 2026
DataAggregated Company Financials
Companies488
  • 7D-0.7%
  • 3M-2.4%
  • 1Y28.8%
  • YTD9.2%

Over the last 7 days, the Industrials industry has remained flat, although notably Shanghai Electric Group gained 17%. The past year has been better, since the industry has gained 29% in that time. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 25 May 2026HK$5.3tHK$7.9tHK$320.0b11.9x16.6x0.7x
Wed, 22 Apr 2026HK$5.3tHK$7.9tHK$322.1b11.8x16.3x0.7x
Fri, 20 Mar 2026HK$4.9tHK$7.9tHK$352.0b11.7x13.9x0.6x
Sun, 15 Feb 2026HK$5.1tHK$7.9tHK$358.5b11.5x14.1x0.6x
Tue, 13 Jan 2026HK$4.7tHK$7.8tHK$356.2b11.2x13.2x0.6x
Thu, 11 Dec 2025HK$4.5tHK$7.7tHK$351.2b11.1x12.7x0.6x
Sat, 08 Nov 2025HK$4.6tHK$7.6tHK$348.8b11.3x13.1x0.6x
Mon, 06 Oct 2025HK$4.4tHK$7.6tHK$355.3b11.1x12.4x0.6x
Wed, 03 Sep 2025HK$4.4tHK$7.8tHK$354.2b10.4x12.5x0.6x
Fri, 01 Aug 2025HK$4.4tHK$7.8tHK$365.8b10.4x12.2x0.6x
Sun, 29 Jun 2025HK$4.2tHK$7.8tHK$366.2b9.9x11.5x0.5x
Tue, 27 May 2025HK$4.1tHK$7.8tHK$364.3b10.1x11.4x0.5x
Thu, 24 Apr 2025HK$3.8tHK$7.7tHK$356.6b9.4x10.7x0.5x
Sat, 22 Mar 2025HK$4.0tHK$7.7tHK$363.0b9.2x11x0.5x
Mon, 17 Feb 2025HK$3.9tHK$7.6tHK$373.5b8.9x10.5x0.5x
Wed, 15 Jan 2025HK$3.8tHK$7.5tHK$371.1b8.6x10.2x0.5x
Fri, 13 Dec 2024HK$4.0tHK$7.6tHK$373.5b8.7x10.8x0.5x
Sun, 10 Nov 2024HK$4.1tHK$7.7tHK$375.3b8.8x10.9x0.5x
Tue, 08 Oct 2024HK$4.3tHK$7.7tHK$361.5b9.4x11.8x0.5x
Thu, 05 Sep 2024HK$3.5tHK$7.7tHK$359.9b8.3x9.7x0.5x
Sat, 03 Aug 2024HK$3.6tHK$7.6tHK$358.9b8.1x10.1x0.5x
Mon, 01 Jul 2024HK$3.6tHK$7.4tHK$326.4b8.7x11.1x0.5x
Wed, 29 May 2024HK$3.8tHK$7.4tHK$330.3b8.7x11.6x0.5x
Fri, 26 Apr 2024HK$3.5tHK$7.4tHK$328.0b8.3x10.7x0.5x
Sun, 24 Mar 2024HK$3.4tHK$7.3tHK$327.0b7.7x10.5x0.5x
Tue, 20 Feb 2024HK$3.3tHK$7.3tHK$351.7b7.8x9.4x0.5x
Thu, 18 Jan 2024HK$3.2tHK$7.4tHK$352.8b7.9x9.1x0.4x
Sat, 16 Dec 2023HK$3.3tHK$7.4tHK$355.6b8.1x9.3x0.4x
Mon, 13 Nov 2023HK$3.1tHK$7.2tHK$349.8b8x9x0.4x
Wed, 11 Oct 2023HK$3.2tHK$7.2tHK$351.7b8x9.1x0.4x
Fri, 08 Sep 2023HK$3.3tHK$7.2tHK$350.5b8.3x9.5x0.5x
Sun, 06 Aug 2023HK$3.6tHK$7.2tHK$402.2b9.5x9x0.5x
Tue, 04 Jul 2023HK$3.6tHK$7.2tHK$413.3b9.4x8.8x0.5x
Thu, 01 Jun 2023HK$3.5tHK$7.3tHK$416.0b9.1x8.5x0.5x
Price to Earnings Ratio

8.5x


Total Market Cap: HK$3.5tTotal Earnings: HK$416.0bTotal Revenue: HK$7.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Industrials Sector Price to Earnings3Y Average 11.1x202420252026
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 16.6x which is higher than its 3-year average PE of 11.1x.
  • 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 8.4% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.7% per year.
  • This means that although more sales are being generated, 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 Market-1.48%
Industrials-0.75%
Electrical2.04%
Marine and Shipping1.56%
Airlines0.73%
Machinery-0.24%
Industrials-1.01%
Trade Distributors-1.17%
Building-1.58%
Commercial Services-1.73%
Construction-1.81%
Transportation-2.53%
Infrastructure-2.68%
Aerospace & Defense-3.64%
Logistics-4.48%
Professional Services-8.12%
Industry PE
  • 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 14.4%, which is lower than the prior year's growth of 27.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 45% 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 13% 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
2727 Shanghai Electric GroupHK$5.1617.3%
+HK$11.8b		91.8%PE53.7x
9880 Ubtech RoboticsHK$123.9012.0%
+HK$6.7b		36.6%PS27x
1919 COSCO SHIPPING HoldingsHK$15.202.5%
+HK$5.6b		1.7%PE8x
1735 Central New Energy Holding GroupHK$9.8113.4%
+HK$4.9b		-6.2%PE1210.2x
2643 CaoCaoHK$28.6023.3%
+HK$3.1b		n/aPS0.7x

Latest News

66
HK$33.10
MTR
7D
-2.4%
1Y
25.4%
631
HK$9.04
Sany Heavy Equipment International Holdings
7D
-18.1%
1Y
64.7%
1919
HK$15.20
COSCO SHIPPING Holdings
7D
2.5%
1Y
1.7%
19
HK$84.75
Swire Pacific
7D
-2.6%
1Y
25.7%
Narrative Update • May 20

19: Fair Outlook Will Depend On 2026 Dividend And Governance Decisions

Analysts have slightly adjusted their fair value work on Swire Pacific. The latest modelling changes, including a lower discount rate and updated P/E assumptions, support an updated analyst price target of about HK$89.74.
1133
HK$21.66
Harbin Electric
7D
-5.5%
1Y
325.5%
316
HK$144.80
Orient Overseas (International)
7D
2.5%
1Y
-1.3%
1
HK$72.05
CK Hutchison Holdings
7D
-1.4%
1Y
59.8%
2727
HK$5.16
Shanghai Electric Group
7D
17.3%
1Y
91.8%
2338
HK$41.12
Weichai Power
7D
-0.9%
1Y
167.4%
293
HK$12.60
Cathay Pacific Airways
7D
3.6%
1Y
19.8%
Narrative Update • May 15

293: Margin Pressures And BNP Downgrade Will Undermine Traffic And Dividend Optimism

Analysts have trimmed their HK$ price target on Cathay Pacific Airways, citing a more cautious profit margin outlook and a recent downgrade from BNP Paribas, even though assumptions for revenue growth and future P/E remain steady. Analyst Commentary Bearish analysts are stressing that the trimmed HK$ price targets reflect a more conservative stance on Cathay Pacific Airways, with profit margin assumptions under closer scrutiny even as revenue growth and P/E inputs remain unchanged.
2643
HK$28.60
CaoCao
7D
23.3%
1Y
n/a
1072
HK$35.76
Dongfang Electric
7D
-2.8%
1Y
197.5%
Analysis Article • May 11

Dongfang Electric's (HKG:1072) Earnings Are Of Questionable Quality

Dongfang Electric Corporation Limited ( HKG:1072 ) announced strong profits, but the stock was stagnant. We did some...
1519
HK$8.64
J&T Global Express
7D
-6.5%
1Y
32.5%
Narrative Update • Apr 30

1519: Rising International Parcel Mix And Governance Revisions Will Support Higher Earnings Multiple

Analysts have slightly trimmed their price target for J&T Global Express to HK$14.99 from HK$15.10 as they factor in updated assumptions for revenue growth, profit margins, discount rate and future P/E. What's in the News J&T Global Express reported first quarter 2026 operating results, with total parcel volume of 8.326 billion and average daily parcel volume of 92.5 million for the period ended March 31, 2026 (Key Developments).
9880
HK$123.90
Ubtech Robotics
7D
12.0%
1Y
36.6%
1021
HK$21.54
Guangdong Huayan Robotics
7D
18.5%
1Y
n/a
1735
HK$9.81
Central New Energy Holding Group
7D
13.4%
1Y
-6.2%