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Hong Kong (HSI) Industrials Sector Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies484
  • 7D-2.3%
  • 3M3.7%
  • 1Y23.0%
  • YTD2.2%

Over the last 7 days, the Industrials industry has risen 1.6%, driven by gains from J&T Global Express of 7.2%. Meanwhile, Dongfang Electric actually underperformed within the industry, shrinking 9.1% in the last week. This means that the industry has gained 26% over the past year. Looking forward, earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Apr 2026HK$4.7tHK$7.9tHK$315.7b11.4x15x0.6x
Fri, 27 Feb 2026HK$5.2tHK$7.9tHK$361.2b11.7x14.4x0.7x
Sun, 25 Jan 2026HK$4.9tHK$7.8tHK$356.5b11.6x13.6x0.6x
Tue, 23 Dec 2025HK$4.5tHK$7.7tHK$353.0b11.2x12.8x0.6x
Thu, 20 Nov 2025HK$4.5tHK$7.7tHK$349.4b11x12.8x0.6x
Sat, 18 Oct 2025HK$4.3tHK$7.6tHK$354.8b10.7x12.2x0.6x
Mon, 15 Sep 2025HK$4.5tHK$7.8tHK$353.9b10.5x12.8x0.6x
Wed, 13 Aug 2025HK$4.5tHK$7.8tHK$362.9b11x12.4x0.6x
Fri, 11 Jul 2025HK$4.3tHK$7.8tHK$366.2b9.7x11.7x0.5x
Sun, 08 Jun 2025HK$4.2tHK$7.8tHK$364.9b10x11.4x0.5x
Tue, 06 May 2025HK$3.9tHK$7.7tHK$358.5b9.8x10.8x0.5x
Thu, 03 Apr 2025HK$4.0tHK$7.7tHK$356.7b9.8x11.1x0.5x
Sat, 01 Mar 2025HK$3.9tHK$7.6tHK$372.3b9x10.4x0.5x
Mon, 27 Jan 2025HK$3.8tHK$7.6tHK$374.1b8.5x10.3x0.5x
Wed, 25 Dec 2024HK$3.9tHK$7.6tHK$372.2b8.8x10.5x0.5x
Fri, 22 Nov 2024HK$4.0tHK$7.6tHK$375.8b8.6x10.5x0.5x
Sun, 20 Oct 2024HK$3.9tHK$7.7tHK$359.6b8.7x10.9x0.5x
Tue, 17 Sep 2024HK$3.4tHK$7.7tHK$359.5b7.9x9.6x0.4x
Thu, 15 Aug 2024HK$3.6tHK$7.6tHK$361.0b8.3x9.9x0.5x
Sat, 13 Jul 2024HK$3.6tHK$7.4tHK$327.5b8.6x11x0.5x
Mon, 10 Jun 2024HK$3.8tHK$7.4tHK$328.3b8.8x11.6x0.5x
Wed, 08 May 2024HK$3.7tHK$7.4tHK$331.8b8.4x11x0.5x
Fri, 05 Apr 2024HK$3.5tHK$7.4tHK$330.6b8x10.5x0.5x
Sun, 03 Mar 2024HK$3.4tHK$7.3tHK$352.2b8x9.6x0.5x
Tue, 30 Jan 2024HK$3.3tHK$7.4tHK$352.8b7.9x9.4x0.5x
Thu, 28 Dec 2023HK$3.3tHK$7.4tHK$354.5b8.3x9.3x0.4x
Sat, 25 Nov 2023HK$3.3tHK$7.4tHK$352.4b8.1x9.3x0.4x
Mon, 23 Oct 2023HK$3.1tHK$7.2tHK$350.6b7.7x8.9x0.4x
Wed, 20 Sep 2023HK$3.3tHK$7.2tHK$351.0b8.3x9.5x0.5x
Fri, 18 Aug 2023HK$3.5tHK$7.2tHK$401.4b8.9x8.6x0.5x
Sun, 16 Jul 2023HK$3.6tHK$7.2tHK$415.4b9x8.7x0.5x
Tue, 13 Jun 2023HK$3.6tHK$7.2tHK$414.8b9.4x8.7x0.5x
Thu, 11 May 2023HK$3.9tHK$7.4tHK$419.3b9.4x9.2x0.5x
Sat, 08 Apr 2023HK$3.8tHK$7.4tHK$436.2b9.6x8.7x0.5x
Price to Earnings Ratio

8.7x


Total Market Cap: HK$3.8tTotal Earnings: HK$436.2bTotal Revenue: HK$7.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Industrials Sector Price to Earnings3Y Average 10.7x202420252026
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 13.9x which is higher than its 3-year average PE of 10.7x.
  • 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 8.3% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.1% 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-1.06%
Industrials-2.31%
Professional Services1.59%
Logistics0.99%
Industrials0.95%
Transportation0.49%
Trade Distributors-0.88%
Commercial Services-1.32%
Marine and Shipping-1.89%
Construction-2.16%
Machinery-2.91%
Infrastructure-3.58%
Building-5.13%
Electrical-6.64%
Airlines-6.66%
Aerospace & Defense-13.00%
Industry PE
  • Investors are most optimistic about the Airlines industry even though it's trading below its 3-year average PE ratio of 27.4x.
    • Analysts are expecting annual earnings growth of 42.1%, which is higher than its past year's earnings growth of 12.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 42% 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 20% 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$29.163.6%
+HK$10.4b		81.3%PE20.2x
2442 Easy Smart Group HoldingsHK$37.2471.8%
+HK$6.3b		3,055.9%PS56.3x
3808 Sinotruk (Hong Kong)HK$42.124.9%
+HK$5.5b		106.0%PE14.6x
1519 J&T Global ExpressHK$10.105.6%
+HK$4.8b		83.0%PE57.8x
656 Fosun InternationalHK$4.2810.9%
+HK$3.4b		-2.3%PS0.2x

Latest News

9880
HK$100.00
Ubtech Robotics
7D
6.0%
1Y
18.7%
144
HK$14.49
China Merchants Port Holdings
7D
-10.6%
1Y
5.5%
1072
HK$36.68
Dongfang Electric
7D
-5.3%
1Y
251.3%
2338
HK$29.16
Weichai Power
7D
3.6%
1Y
81.3%
293
HK$11.74
Cathay Pacific Airways
7D
-5.6%
1Y
19.8%

293: Share Buyback Will Support Upside As Higher P/E Case Emerges

Analysts have nudged their fair value estimate for Cathay Pacific Airways up from HK$17.51 to HK$18.00, citing updated assumptions on revenue growth, profit margins and future P/E despite a recent downgrade in Street research tone. Analyst Commentary Street research has turned more cautious on Cathay Pacific Airways, with at least one major house becoming more bearish on the shares.
1800
HK$4.49
China Communications Construction
7D
-8.4%
1Y
-8.0%
2727
HK$3.88
Shanghai Electric Group
7D
-5.8%
1Y
47.5%
656
HK$4.28
Fosun International
7D
10.9%
1Y
-2.3%
669
HK$107.60
Techtronic Industries
7D
-2.5%
1Y
14.7%
1519
HK$10.10
J&T Global Express
7D
5.6%
1Y
83.0%
3808
HK$42.12
Sinotruk (Hong Kong)
7D
4.9%
1Y
106.0%

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
152
HK$7.08
Shenzhen International Holdings
7D
-22.0%
1Y
-11.4%

Shenzhen International Holdings Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Mar 29
Shenzhen International Holdings Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
1
HK$60.95
CK Hutchison Holdings
7D
1.1%
1Y
37.6%

1: Telecom Asset Sales And IPO Plans Will Drive Future Upside Potential

Analysts have slightly increased their fair value estimate for CK Hutchison Holdings from HK$69.33 to HK$69.95, reflecting updated assumptions around revenue growth, profit margins and forward P/E expectations. What's in the News Proposed final cash dividend of HK$1.602 per share for the year ended 31 December 2025, subject to shareholder approval on 21 May 2026, with record date on 28 May 2026, ex dividend date on 27 May 2026, and payment date on 11 June 2026 (company announcement).
1133
HK$21.78
Harbin Electric
7D
-11.0%
1Y
408.9%
1308
HK$35.30
SITC International Holdings
7D
3.3%
1Y
65.3%
2442
HK$37.24
Easy Smart Group Holdings
7D
71.8%
1Y
3,055.9%