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Hong Kong (HSI) Industrials Sector Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies482
  • 7D1.6%
  • 3M15.3%
  • 1Y37.4%
  • YTD13.5%

The Industrials industry is up 1.6% in the last week, with COSCO SHIPPING Holdings up 3.9%. During this same period, the Easy Smart Group Holdings underperformed, falling 30%. This means that the industry has gained 37% over the past year. Earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026HK$5.1tHK$7.9tHK$358.6b11.8x14.3x0.7x
Thu, 22 Jan 2026HK$4.8tHK$7.8tHK$356.5b11.5x13.5x0.6x
Sat, 20 Dec 2025HK$4.5tHK$7.7tHK$353.0b11.1x12.8x0.6x
Mon, 17 Nov 2025HK$4.6tHK$7.6tHK$349.5b11.1x13.1x0.6x
Wed, 15 Oct 2025HK$4.4tHK$7.6tHK$354.6b11x12.3x0.6x
Fri, 12 Sep 2025HK$4.5tHK$7.8tHK$354.3b10.7x12.8x0.6x
Sun, 10 Aug 2025HK$4.5tHK$7.8tHK$362.7b10.9x12.4x0.6x
Tue, 08 Jul 2025HK$4.2tHK$7.8tHK$366.3b9.6x11.5x0.5x
Thu, 05 Jun 2025HK$4.1tHK$7.8tHK$364.9b10.1x11.4x0.5x
Sat, 03 May 2025HK$3.9tHK$7.7tHK$358.6b9.8x10.8x0.5x
Mon, 31 Mar 2025HK$4.0tHK$7.7tHK$368.8b9.8x10.8x0.5x
Wed, 26 Feb 2025HK$3.9tHK$7.6tHK$372.1b8.9x10.5x0.5x
Fri, 24 Jan 2025HK$3.8tHK$7.6tHK$372.8b8.5x10.2x0.5x
Sun, 22 Dec 2024HK$3.9tHK$7.6tHK$372.5b8.7x10.4x0.5x
Tue, 19 Nov 2024HK$3.9tHK$7.6tHK$376.3b8.6x10.5x0.5x
Thu, 17 Oct 2024HK$3.9tHK$7.7tHK$358.9b8.7x10.7x0.5x
Sat, 14 Sep 2024HK$3.4tHK$7.7tHK$359.7b7.9x9.5x0.4x
Mon, 12 Aug 2024HK$3.6tHK$7.6tHK$360.5b8.3x9.9x0.5x
Wed, 10 Jul 2024HK$3.6tHK$7.4tHK$326.4b8.7x10.9x0.5x
Fri, 07 Jun 2024HK$3.8tHK$7.4tHK$328.4b8.9x11.5x0.5x
Sun, 05 May 2024HK$3.6tHK$7.4tHK$330.4b8.3x10.8x0.5x
Tue, 02 Apr 2024HK$3.4tHK$7.4tHK$330.7b8x10.4x0.5x
Thu, 29 Feb 2024HK$3.4tHK$7.3tHK$352.9b7.9x9.5x0.5x
Sat, 27 Jan 2024HK$3.3tHK$7.4tHK$354.2b7.7x9.4x0.4x
Mon, 25 Dec 2023HK$3.3tHK$7.4tHK$355.0b8.2x9.2x0.4x
Wed, 22 Nov 2023HK$3.3tHK$7.4tHK$352.6b8.1x9.3x0.4x
Fri, 20 Oct 2023HK$3.1tHK$7.2tHK$350.7b7.9x8.9x0.4x
Sun, 17 Sep 2023HK$3.4tHK$7.2tHK$351.7b8.4x9.5x0.5x
Tue, 15 Aug 2023HK$3.5tHK$7.2tHK$408.7b9x8.6x0.5x
Thu, 13 Jul 2023HK$3.6tHK$7.2tHK$414.4b9.2x8.6x0.5x
Sat, 10 Jun 2023HK$3.6tHK$7.2tHK$415.2b9.4x8.7x0.5x
Mon, 08 May 2023HK$3.9tHK$7.4tHK$420.1b9.4x9.3x0.5x
Wed, 05 Apr 2023HK$3.8tHK$7.4tHK$446.3b9.2x8.5x0.5x
Fri, 03 Mar 2023HK$3.8tHK$7.3tHK$467.4b8.9x8.1x0.5x
Price to Earnings Ratio

8.1x


Total Market Cap: HK$3.8tTotal Earnings: HK$467.4bTotal Revenue: HK$7.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Industrials Sector Price to Earnings3Y Average 10.6x202420252026
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 14.3x which is higher than its 3-year average PE of 10.6x.
  • The industry is trading close to its 3-year average PS ratio of 0.51x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have declined 8.5% 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 Market1.78%
Industrials1.60%
Electrical4.58%
Marine and Shipping4.04%
Machinery2.34%
Aerospace & Defense1.94%
Trade Distributors1.70%
Construction1.26%
Commercial Services1.23%
Industrials0.74%
Transportation0.66%
Infrastructure-0.30%
Logistics-0.35%
Building-0.46%
Airlines-0.73%
Professional Services-3.21%
Industry PE
  • Investors are most optimistic about the Airlines industry even though it's trading below its 3-year average PE ratio of 26.6x.
    • Analysts are expecting annual earnings growth of 71.5%, which is higher than its past year's earnings growth of 16.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 71% over the next 5 years.
  • This is better than its past earnings growth rate of 17% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings decline by 30% 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$34.149.7%
+HK$25.9b		129.7%PE21.7x
1072 Dongfang ElectricHK$35.528.2%
+HK$9.3b		263.6%PE33.2x
1919 COSCO SHIPPING HoldingsHK$14.553.6%
+HK$7.7b		26.3%PE5.2x
1308 SITC International HoldingsHK$32.989.1%
+HK$7.4b		89.3%PE8.7x
1133 Harbin ElectricHK$25.5611.6%
+HK$5.9b		658.5%PE22.8x

Latest News

66
HK$37.54
MTR
7D
2.4%
1Y
46.4%

66: Fairly Valued Outlook Will Reflect Higher P/E And Housing Recovery Preference

Analysts have lifted their price target on MTR to HK$36.10 from HK$31.30, reflecting updated fair value assumptions and P/E expectations, while shifting their preference toward other developer names for Hong Kong housing recovery exposure. Analyst Commentary Goldman Sachs has shifted its rating on MTR Corp.
1729
HK$17.94
Time Interconnect Technology
7D
8.7%
1Y
245.0%
656
HK$3.73
Fosun International
7D
-3.9%
1Y
-14.8%

656: Mutual Supply Framework Will Support Future Earnings Rebound Potential

Analysts have trimmed their price target on Fosun International to reflect updated assumptions, including a revised fair value estimate of HK$5.63, a slightly higher discount rate of 12.95%, adjusted revenue growth expectations of 6.71%, a profit margin assumption of 4.27% and a future P/E of 6.18x. What's in the News Fosun International and Shanghai Fosun Pharmaceutical entered into Framework Tenancy Agreements covering Fosun Pharma Premises and Fosun International Premises, with a term from 1 January 2026 to 31 December 2026, subject to applicable laws and listing rules in Chinese mainland and Hong Kong (Key Developments).
1519
HK$10.35
J&T Global Express
7D
-3.8%
1Y
57.1%

1519: Governance Revisions Will Support Stronger Outlook For Future Earnings Multiple

Analysts have raised their price target for J&T Global Express to about HK$15.05 from roughly HK$14.20, citing updated assumptions for revenue growth, profit margins and future P/E that feed into their valuation models. What's in the News J&T Global Express Limited has proposed amendments to its seventh amended and restated memorandum and articles of association to reflect and align with updated regulatory requirements, including Listing Rules related to hybrid meetings, electronic voting, and the duties and composition of the nomination committee (Key Developments).
2338
HK$34.14
Weichai Power
7D
9.7%
1Y
129.7%

Here's Why We Think Weichai Power (HKG:2338) Might Deserve Your Attention Today

Feb 16
Here's Why We Think Weichai Power (HKG:2338) Might Deserve Your Attention Today
1072
HK$35.52
Dongfang Electric
7D
8.2%
1Y
263.6%
1133
HK$25.56
Harbin Electric
7D
11.6%
1Y
658.5%
1
HK$62.55
CK Hutchison Holdings
7D
-1.7%
1Y
58.8%

1: Telecom Exits And Possible AS Watson Listing Will Shape Fairly Valued Outlook

Analysts have nudged their price target for CK Hutchison Holdings higher, implying fair value of HK$66.79 per share compared with the prior HK$64.91. This revision is based on updated discount rate and P/E assumptions rather than major changes to revenue growth or profit margin forecasts.
267
HK$12.31
CITIC
7D
-0.6%
1Y
36.5%

267: Stable Assumptions And Modest P/E Will Shape Fairly Valued Outlook

Analysts have adjusted their price target on CITIC to US$13.77, reflecting updated views on the company’s discount rate, revenue trajectory and profit margin profile, while keeping fair value essentially in line with prior assumptions. Valuation Changes Fair Value: Fair value per share is unchanged at US$13.77, indicating no material shift in the overall valuation outcome.
2442
HK$9.38
Easy Smart Group Holdings
7D
-45.3%
1Y
722.8%
753
HK$7.02
Air China
7D
-2.4%
1Y
56.3%
3808
HK$43.56
Sinotruk (Hong Kong)
7D
4.7%
1Y
106.0%

Earnings Tell The Story For Sinotruk (Hong Kong) Limited (HKG:3808) As Its Stock Soars 29%

Jan 27
Earnings Tell The Story For Sinotruk (Hong Kong) Limited (HKG:3808) As Its Stock Soars 29%
1308
HK$32.98
SITC International Holdings
7D
9.1%
1Y
89.3%
1919
HK$14.55
COSCO SHIPPING Holdings
7D
3.6%
1Y
26.3%

COSCO SHIPPING Holdings (HKG:1919) Seems To Use Debt Quite Sensibly

Jan 25
COSCO SHIPPING Holdings (HKG:1919) Seems To Use Debt Quite Sensibly
9880
HK$128.40
Ubtech Robotics
7D
-7.0%
1Y
27.9%

Is Ubtech Robotics Corp Ltd (HKG:9880) Expensive For A Reason? A Look At Its Intrinsic Value

Jan 11
Is Ubtech Robotics Corp Ltd (HKG:9880) Expensive For A Reason? A Look At Its Intrinsic Value
9900
HK$6.12
Hong Kong Zcloud Technology Construction
7D
-13.7%
1Y
270.9%