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Hong Kong (HSI) Industrials Sector Analysis

UpdatedDec 18, 2025
DataAggregated Company Financials
Companies479
  • 7D-0.4%
  • 3M0.5%
  • 1Y19.6%
  • YTD20.9%

Last week, the Industrials industry hasn't moved much but Air China is up 13% in that time. The past year has been better, since the industry has gained 20% in that time. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Dec 2025HK$4.5tHK$7.7tHK$352.9b11.1x12.7x0.6x
Sat, 15 Nov 2025HK$4.6tHK$7.6tHK$349.3b11.1x13.2x0.6x
Mon, 13 Oct 2025HK$4.4tHK$7.6tHK$355.0b11.3x12.5x0.6x
Wed, 10 Sep 2025HK$4.5tHK$7.8tHK$354.2b10.7x12.7x0.6x
Fri, 08 Aug 2025HK$4.5tHK$7.8tHK$365.9b10.7x12.3x0.6x
Sun, 06 Jul 2025HK$4.2tHK$7.8tHK$366.6b9.6x11.6x0.5x
Tue, 03 Jun 2025HK$4.1tHK$7.8tHK$364.4b10.3x11.3x0.5x
Thu, 01 May 2025HK$3.9tHK$7.7tHK$358.6b9.7x10.8x0.5x
Sat, 29 Mar 2025HK$4.0tHK$7.7tHK$372.0b9.7x10.7x0.5x
Mon, 24 Feb 2025HK$3.9tHK$7.6tHK$372.2b9x10.6x0.5x
Wed, 22 Jan 2025HK$3.8tHK$7.6tHK$372.7b8.7x10.3x0.5x
Fri, 20 Dec 2024HK$3.9tHK$7.6tHK$372.4b8.7x10.5x0.5x
Sun, 17 Nov 2024HK$3.9tHK$7.6tHK$376.3b8.6x10.4x0.5x
Tue, 15 Oct 2024HK$4.0tHK$7.7tHK$360.3b9x11x0.5x
Thu, 12 Sep 2024HK$3.4tHK$7.7tHK$359.1b7.7x9.4x0.4x
Sat, 10 Aug 2024HK$3.6tHK$7.6tHK$360.2b8.3x9.9x0.5x
Mon, 08 Jul 2024HK$3.6tHK$7.4tHK$326.5b8.7x11x0.5x
Wed, 05 Jun 2024HK$3.8tHK$7.5tHK$331.1b8.9x11.6x0.5x
Fri, 03 May 2024HK$3.6tHK$7.4tHK$330.4b8.3x10.8x0.5x
Sun, 31 Mar 2024HK$3.5tHK$7.4tHK$335.5b8x10.5x0.5x
Tue, 27 Feb 2024HK$3.4tHK$7.3tHK$352.4b7.9x9.6x0.5x
Thu, 25 Jan 2024HK$3.3tHK$7.5tHK$356.0b7.7x9.1x0.4x
Sat, 23 Dec 2023HK$3.3tHK$7.4tHK$355.3b8.1x9.2x0.4x
Mon, 20 Nov 2023HK$3.2tHK$7.3tHK$350.7b8.1x9.1x0.4x
Wed, 18 Oct 2023HK$3.2tHK$7.2tHK$350.8b8.1x9.2x0.4x
Fri, 15 Sep 2023HK$3.3tHK$7.2tHK$351.6b8.3x9.5x0.5x
Sun, 13 Aug 2023HK$3.5tHK$7.2tHK$409.1b9x8.6x0.5x
Tue, 11 Jul 2023HK$3.6tHK$7.2tHK$413.5b9.2x8.6x0.5x
Thu, 08 Jun 2023HK$3.6tHK$7.3tHK$415.6b9.4x8.6x0.5x
Sat, 06 May 2023HK$3.9tHK$7.4tHK$420.1b9.4x9.3x0.5x
Mon, 03 Apr 2023HK$3.8tHK$7.4tHK$446.7b9.4x8.4x0.5x
Wed, 01 Mar 2023HK$3.7tHK$7.3tHK$462.4b8.9x7.9x0.5x
Fri, 27 Jan 2023HK$3.9tHK$7.4tHK$473.0b8.9x8.3x0.5x
Sun, 25 Dec 2022HK$3.6tHK$7.2tHK$463.0b8.5x7.7x0.5x
Price to Earnings Ratio

7.7x


Total Market Cap: HK$3.6tTotal Earnings: HK$463.0bTotal Revenue: HK$7.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Industrials Sector Price to Earnings3Y Average 10.2x202320242025
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 12.7x which is higher than its 3-year average PE of 10.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.50x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have declined 8.7% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.6% 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-1.05%
Industrials-0.44%
Airlines4.91%
Electrical0.80%
Construction0.12%
Trade Distributors0.045%
Industrials-0.23%
Logistics-0.32%
Transportation-0.60%
Marine and Shipping-0.89%
Aerospace & Defense-0.97%
Machinery-1.55%
Building-1.90%
Infrastructure-2.22%
Commercial Services-2.33%
Professional Services-4.82%
Industry PE
  • Investors are most optimistic about the Airlines industry, which is trading close to its 3-year average PE ratio of 24.8x.
    • Analysts are expecting annual earnings growth of 62.9%, which is higher than its past year's earnings growth of 16.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Professional Services industry, expecting annual earnings growth of 65% over the next 5 years.
  • This is better than its past earnings growth rate of 7.0% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings decline by 29% 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
753 Air ChinaHK$7.0513.3%
+HK$14.5b		35.1%PE411.1x
1519 J&T Global ExpressHK$10.433.5%
+HK$3.1b		72.7%PE74.9x
2418 Deewin TianxiaHK$9.7714.8%
+HK$2.7b		675.4%PE148x
1133 Harbin ElectricHK$15.418.1%
+HK$2.6b		531.6%PE14.1x
1800 China Communications ConstructionHK$5.113.0%
+HK$2.4b		-6.4%PE3.9x

Latest News

1519
HK$10.43
J&T Global Express
7D
3.5%
1Y
72.7%

1519: Share Repurchase Program Will Likely Fail To Offset Overvaluation Risk

Analysts have raised their price target for J&T Global Express from approximately $7.38 to $8.39 per share, citing expectations for faster revenue growth, improving profit margins, and a still attractive, though slightly higher, discount rate despite a modestly lower projected future P&E multiple. What's in the News Reported third quarter 2025 operating results with total parcel volume of about 7.68 billion, up 23.1% year on year, driven by double-digit growth across all major markets, especially Southeast Asia and New Markets (Key Developments).
66
HK$29.96
MTR
7D
-1.3%
1Y
12.2%

MTR (HKG:66) Has More To Do To Multiply In Value Going Forward

Dec 12
MTR (HKG:66) Has More To Do To Multiply In Value Going Forward
1618
HK$1.89
Metallurgical Corporation of China
7D
3.8%
1Y
16.7%

Metallurgical Corporation of China (HKG:1618) Might Be Having Difficulty Using Its Capital Effectively

Dec 12
Metallurgical Corporation of China (HKG:1618) Might Be Having Difficulty Using Its Capital Effectively
1072
HK$22.50
Dongfang Electric
7D
2.6%
1Y
138.9%
2338
HK$19.20
Weichai Power
7D
-3.2%
1Y
72.4%

Should You Investigate Weichai Power Co., Ltd. (HKG:2338) At HK$19.83?

Dec 11
Should You Investigate Weichai Power Co., Ltd. (HKG:2338) At HK$19.83?
9880
HK$106.80
Ubtech Robotics
7D
-4.2%
1Y
19.0%
267
HK$11.90
CITIC
7D
-1.2%
1Y
35.8%

267: Interim Dividend Will Drive Shares Higher As Earnings Multiple Expands

Analysts have modestly adjusted their price target on CITIC upward, citing stable fair value at about $13.77 per share, along with slightly improved expectations for future earnings multiples, despite largely unchanged growth and margin assumptions. Valuation Changes Fair Value Estimate: Remains effectively unchanged at approximately HK$13.77 per share, indicating stable intrinsic value assumptions.
631
HK$8.43
Sany Heavy Equipment International Holdings
7D
7.0%
1Y
79.4%

Is Sany Heavy Equipment International Holdings (HKG:631) Using Too Much Debt?

Dec 05
Is Sany Heavy Equipment International Holdings (HKG:631) Using Too Much Debt?
1133
HK$15.41
Harbin Electric
7D
8.1%
1Y
531.6%
316
HK$123.60
Orient Overseas (International)
7D
-2.8%
1Y
20.8%

When Should You Buy Orient Overseas (International) Limited (HKG:316)?

Nov 20
When Should You Buy Orient Overseas (International) Limited (HKG:316)?
1800
HK$5.11
China Communications Construction
7D
3.0%
1Y
-6.4%

China Communications Construction (HKG:1800) Will Pay A Smaller Dividend Than Last Year

Nov 17
China Communications Construction (HKG:1800) Will Pay A Smaller Dividend Than Last Year
2418
HK$9.77
Deewin Tianxia
7D
14.8%
1Y
675.4%

Deewin Tianxia Co., Ltd's (HKG:2418) 27% Share Price Surge Not Quite Adding Up

Nov 14
Deewin Tianxia Co., Ltd's (HKG:2418) 27% Share Price Surge Not Quite Adding Up
753
HK$7.05
Air China
7D
13.3%
1Y
35.1%
144
HK$15.27
China Merchants Port Holdings
7D
-4.2%
1Y
19.9%

We Think China Merchants Port Holdings (HKG:144) Can Stay On Top Of Its Debt

Oct 19
We Think China Merchants Port Holdings (HKG:144) Can Stay On Top Of Its Debt
2670
HK$130.60
Beijing Yunji Technology
7D
-21.0%
1Y
n/a
2643
HK$28.96
CaoCao
7D
-37.9%
1Y
n/a