Narrative Update • Aug 22
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Hong Kong (HSI) Industrials Sector Analysis
UpdatedAug 25, 2026
DataAggregated Company Financials
Companies485
- 7D0.2%
- 3M-7.0%
- 1Y4.3%
- YTD1.0%
The Industrials is pretty flat in the last 7 days, but CITIC has stood out, gaining 5.9%. As for the the longer term, the industry is up 4.3% over the past 12 months. Earnings are forecast to grow by 11% annually.
Sector Valuation and Performance
Has the Hong Kong Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 26 Aug 2026 | HK$5.1t | HK$8.0t | HK$381.9b | 11.2x | 13.3x | 0.6x |
| Fri, 24 Jul 2026 | HK$5.0t | HK$7.9t | HK$333.4b | 11.4x | 14.9x | 0.6x |
| Sun, 21 Jun 2026 | HK$4.9t | HK$7.9t | HK$334.1b | 11.1x | 14.8x | 0.6x |
| Tue, 19 May 2026 | HK$5.3t | HK$7.9t | HK$320.1b | 12x | 16.5x | 0.7x |
| Thu, 16 Apr 2026 | HK$5.2t | HK$7.9t | HK$323.3b | 11.3x | 16x | 0.7x |
| Sat, 14 Mar 2026 | HK$5.0t | HK$7.9t | HK$354.5b | 11.5x | 14.1x | 0.6x |
| Mon, 09 Feb 2026 | HK$5.0t | HK$7.9t | HK$358.1b | 11.7x | 13.8x | 0.6x |
| Wed, 07 Jan 2026 | HK$4.6t | HK$7.8t | HK$355.4b | 11x | 13.1x | 0.6x |
| Fri, 05 Dec 2025 | HK$4.5t | HK$7.7t | HK$351.0b | 10.9x | 12.9x | 0.6x |
| Sun, 02 Nov 2025 | HK$4.4t | HK$7.6t | HK$340.9b | 11x | 13x | 0.6x |
| Tue, 30 Sep 2025 | HK$4.4t | HK$7.6t | HK$355.2b | 10.7x | 12.3x | 0.6x |
| Thu, 28 Aug 2025 | HK$4.5t | HK$7.8t | HK$354.3b | 11.1x | 12.7x | 0.6x |
| Sat, 26 Jul 2025 | HK$4.6t | HK$7.8t | HK$366.7b | 10.6x | 12.4x | 0.6x |
| Mon, 23 Jun 2025 | HK$4.2t | HK$7.8t | HK$366.1b | 10.1x | 11.4x | 0.5x |
| Wed, 21 May 2025 | HK$4.1t | HK$7.8t | HK$362.9b | 10x | 11.3x | 0.5x |
| Fri, 18 Apr 2025 | HK$3.8t | HK$7.7t | HK$356.5b | 9.2x | 10.6x | 0.5x |
| Sun, 16 Mar 2025 | HK$4.0t | HK$7.7t | HK$375.1b | 9.3x | 10.7x | 0.5x |
| Tue, 11 Feb 2025 | HK$3.8t | HK$7.6t | HK$372.1b | 8.6x | 10.3x | 0.5x |
| Thu, 09 Jan 2025 | HK$3.8t | HK$7.5t | HK$371.0b | 8.7x | 10.2x | 0.5x |
| Sat, 07 Dec 2024 | HK$4.0t | HK$7.6t | HK$373.8b | 8.4x | 10.6x | 0.5x |
| Mon, 04 Nov 2024 | HK$4.0t | HK$7.7t | HK$377.2b | 8.6x | 10.5x | 0.5x |
| Wed, 02 Oct 2024 | HK$4.1t | HK$7.8t | HK$361.8b | 8.7x | 11.2x | 0.5x |
| Fri, 30 Aug 2024 | HK$3.6t | HK$7.7t | HK$371.9b | 7.9x | 9.7x | 0.5x |
| Sun, 28 Jul 2024 | HK$3.5t | HK$7.4t | HK$327.7b | 8.2x | 10.7x | 0.5x |
| Tue, 25 Jun 2024 | HK$3.6t | HK$7.4t | HK$327.9b | 8.7x | 11.1x | 0.5x |
| Thu, 23 May 2024 | HK$3.9t | HK$7.4t | HK$330.3b | 8.7x | 11.7x | 0.5x |
| Sat, 20 Apr 2024 | HK$3.5t | HK$7.4t | HK$328.4b | 8.1x | 10.6x | 0.5x |
| Mon, 18 Mar 2024 | HK$3.5t | HK$7.3t | HK$363.1b | 7.5x | 9.6x | 0.5x |
| Wed, 14 Feb 2024 | HK$3.3t | HK$7.3t | HK$351.8b | 7.6x | 9.2x | 0.4x |
| Fri, 12 Jan 2024 | HK$3.3t | HK$7.4t | HK$353.6b | 8.2x | 9.3x | 0.4x |
| Sun, 10 Dec 2023 | HK$3.2t | HK$7.4t | HK$354.5b | 8.1x | 8.9x | 0.4x |
| Tue, 07 Nov 2023 | HK$3.2t | HK$7.3t | HK$350.9b | 8.2x | 9.2x | 0.4x |
| Thu, 05 Oct 2023 | HK$3.3t | HK$7.2t | HK$351.9b | 7.9x | 9.4x | 0.5x |
| Sat, 02 Sep 2023 | HK$3.4t | HK$7.2t | HK$364.2b | 8.5x | 9.3x | 0.5x |
Price to Earnings Ratio
9.3x
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 13.3x which is higher than its 3-year average PE of 11.6x.
- The industry is trading close to its 3-year average PS ratio of 0.53x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 3.7% 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 and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the Hong Kong Industrials sector?
| HK Market | 1.35% | |
| Industrials | 0.24% | |
| Marine and Shipping | 10.69% | |
| Professional Services | 5.78% | |
| Industrials | 3.46% | |
| Transportation | 2.57% | |
| Infrastructure | 1.81% | |
| Trade Distributors | 1.74% | |
| Construction | 1.16% | |
| Commercial Services | 0.068% | |
| Logistics | -0.90% | |
| Airlines | -1.53% | |
| Building | -1.73% | |
| Aerospace & Defense | -3.31% | |
| Machinery | -5.63% | |
| Electrical | -6.70% | |
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 22.0%, which is lower than the prior year's growth of 34.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 39% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Transportation industry is expected to see its earnings decline by 22% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 267 CITIC | HK$12.92 | 5.9% +HK$20.9b | 12.9% | PE5.5x | |
| 2442 Easy Smart Group Holdings | HK$120.00 | 74.5% +HK$20.9b | 4,110.5% | PS181.3x | |
| 1919 COSCO SHIPPING Holdings | HK$17.49 | 4.7% +HK$11.9b | 19.1% | PE9x | |
| 1308 SITC International Holdings | HK$47.62 | 9.3% +HK$11.0b | 54.1% | PE13x | |
| 6656 Sigenergy Technology | HK$347.00 | 5.7% +HK$4.7b | n/a | PE25.4x |