Hong Kong (HSI) Industrials Sector Analysis

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
Mon, 18 May 2026	HK$5.3t	HK$7.9t	HK$319.9b	12.1x	16.7x	0.7x
Wed, 15 Apr 2026	HK$5.1t	HK$7.9t	HK$320.1b	11.4x	15.8x	0.6x
Fri, 13 Mar 2026	HK$5.1t	HK$7.9t	HK$365.1b	11.7x	14x	0.6x
Sun, 08 Feb 2026	HK$5.0t	HK$7.9t	HK$358.0b	11.7x	13.8x	0.6x
Tue, 06 Jan 2026	HK$4.6t	HK$7.8t	HK$355.4b	11.1x	13x	0.6x
Thu, 04 Dec 2025	HK$4.5t	HK$7.7t	HK$351.3b	11x	12.9x	0.6x
Sat, 01 Nov 2025	HK$4.4t	HK$7.6t	HK$340.0b	11x	13x	0.6x
Mon, 29 Sep 2025	HK$4.3t	HK$7.6t	HK$354.7b	10.4x	12.2x	0.6x
Wed, 27 Aug 2025	HK$4.6t	HK$7.8t	HK$357.3b	11.1x	12.8x	0.6x
Fri, 25 Jul 2025	HK$4.6t	HK$7.8t	HK$367.1b	10.6x	12.5x	0.6x
Sun, 22 Jun 2025	HK$4.2t	HK$7.8t	HK$365.9b	10.1x	11.4x	0.5x
Tue, 20 May 2025	HK$4.1t	HK$7.8t	HK$363.0b	10.1x	11.3x	0.5x
Thu, 17 Apr 2025	HK$3.8t	HK$7.6t	HK$355.6b	9.2x	10.6x	0.5x
Sat, 15 Mar 2025	HK$4.0t	HK$7.7t	HK$375.2b	9.3x	10.7x	0.5x
Mon, 10 Feb 2025	HK$3.8t	HK$7.6t	HK$372.7b	8.6x	10.3x	0.5x
Wed, 08 Jan 2025	HK$3.8t	HK$7.5t	HK$371.0b	8.6x	10.3x	0.5x
Fri, 06 Dec 2024	HK$3.9t	HK$7.6t	HK$373.8b	8.4x	10.5x	0.5x
Sun, 03 Nov 2024	HK$4.0t	HK$7.7t	HK$377.2b	8.6x	10.5x	0.5x
Tue, 01 Oct 2024	HK$4.1t	HK$7.8t	HK$361.8b	8.7x	11.2x	0.5x
Thu, 29 Aug 2024	HK$3.6t	HK$7.7t	HK$372.4b	8.1x	9.7x	0.5x
Sat, 27 Jul 2024	HK$3.5t	HK$7.4t	HK$327.6b	8.3x	10.7x	0.5x
Mon, 24 Jun 2024	HK$3.7t	HK$7.4t	HK$327.8b	8.8x	11.2x	0.5x
Wed, 22 May 2024	HK$3.8t	HK$7.4t	HK$330.1b	8.7x	11.5x	0.5x
Fri, 19 Apr 2024	HK$3.5t	HK$7.4t	HK$328.4b	8.1x	10.6x	0.5x
Sun, 17 Mar 2024	HK$3.5t	HK$7.3t	HK$355.8b	7.6x	9.8x	0.5x
Tue, 13 Feb 2024	HK$3.3t	HK$7.3t	HK$351.8b	7.6x	9.3x	0.4x
Thu, 11 Jan 2024	HK$3.3t	HK$7.4t	HK$353.4b	8x	9.3x	0.4x
Sat, 09 Dec 2023	HK$3.2t	HK$7.4t	HK$354.7b	8.1x	8.9x	0.4x
Mon, 06 Nov 2023	HK$3.2t	HK$7.2t	HK$349.9b	8x	9.1x	0.4x
Wed, 04 Oct 2023	HK$3.3t	HK$7.2t	HK$352.0b	7.9x	9.4x	0.5x
Fri, 01 Sep 2023	HK$3.4t	HK$7.2t	HK$360.9b	8.5x	9.4x	0.5x
Sun, 30 Jul 2023	HK$3.7t	HK$7.2t	HK$414.1b	9.2x	8.9x	0.5x
Tue, 27 Jun 2023	HK$3.5t	HK$7.2t	HK$412.9b	9.4x	8.5x	0.5x
Thu, 25 May 2023	HK$3.6t	HK$7.3t	HK$417.7b	9.3x	8.7x	0.5x

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 16.7x 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 8.5% 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 Market	-1.69%
Industrials	-1.44%
Commercial Services	1.45%
Marine and Shipping	0.69%
Electrical	0.10%
Construction	-0.62%
Machinery	-1.15%
Transportation	-1.26%
Infrastructure	-1.55%
Trade Distributors	-1.56%
Industrials	-2.18%
Building	-2.76%
Logistics	-3.36%
Airlines	-7.48%
Aerospace & Defense	-7.64%
Professional Services	-10.41%

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 38% 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?

Company	Last Price	7D	1Y	Valuation
2727 Shanghai Electric Group	HK$4.75	10.5% +HK$7.0b	77.9%	PE49.5x
9900 Hong Kong Zcloud Technology Construction	HK$6.43	48.2% +HK$6.2b	329.4%	PE1073.7x
3898 Zhuzhou CRRC Times Electric	HK$40.94	9.7% +HK$4.8b	24.8%	PE11.6x
1072 Dongfang Electric	HK$37.92	2.3% +HK$3.0b	219.2%	PE26.7x
7618 JINGDONG Industrials	HK$15.10	7.2% +HK$2.7b	n/a	PE15.4x

Company

Last Price

Valuation

2727 Shanghai Electric Group

HK$4.75

10.5%
+HK$7.0b

77.9%

PE49.5x

9900 Hong Kong Zcloud Technology Construction

HK$6.43

48.2%
+HK$6.2b

329.4%

PE1073.7x

3898 Zhuzhou CRRC Times Electric

HK$40.94

9.7%
+HK$4.8b

24.8%

PE11.6x

1072 Dongfang Electric

HK$37.92

2.3%
+HK$3.0b

219.2%

PE26.7x

7618 JINGDONG Industrials

HK$15.10

7.2%
+HK$2.7b

n/a

PE15.4x

Shanghai Electric Unveils AI-Powered Industrial Transformation And Showcases New Products And Solutions

Shanghai Electric presented its latest advancements in artificial intelligence (AI) and green energy solutions. Under the theme “Interlocking Energy and Industry”, the company’s exhibition focuses on AI-powered manufacturing and green energy equipment manufacturing, highlighting cutting-edge AI-enabled industrial upgrades and the strength of Shanghai Electric’s comprehensive industrial value chain. Through the concerted efforts of various industrial enterprises across the entire group, Shanghai Electric have empowered technological innovation and enabled intelligent manufacturing with AI. The AI for Industry showcase is a major highlight, with Shanghai Electric unveiling nearly 40 models and intelligent agent applications from its "StarCloud Intelligent Manufacturing" series. These solutions offer comprehensive support for the digital transformation of the manufacturing industry. In the R&D phase, AI systems such as intelligent component selection and turbine blade process generation have streamlined workflows, significantly reducing design time. For example, turbine blade processing time has been cut from months to weeks. In production, AI models for workshop scheduling, welding defect detection, and oil level monitoring have been successfully implemented, leading to substantial improvements in delivery rates, inspection efficiency, and safety. In the operation and maintenance phase, AI solutions have been deployed in a variety of commercial applications, including rail transportation, elevator maintenance, and offshore wind energy. These solutions have enhanced operational efficiency, reduced costs, and delivered a 10% reduction in offshore wind maintenance costs and a 20% decrease in downtime due to failures. One of the star exhibits is Shanghai Electric’s Mobile Factory, which integrates AI and digital twin technologies. The Mobile Factory is centered on containerized and modular equipment, equipped with over 40 portable devices and six mobile workstations, enabling rapid on-site deployment at power plants. It delivers remote fault diagnosis, intelligent machining path optimization, 3D visualized maintenance and smart scheduling. It provides 24/7 response and solution delivery within 48 hours. AI-powered predictive maintenance greatly shortens downtime and cuts operational costs. The Mobile Factory has carried out over 200 maintenance cases across countries South Korea, Indonesia, Bangladesh and many others. Shanghai Electric is showcasing its self-designed Industrial Internet platform at this exhibition. The platform connects over 460,000 devices. The total value of the equipment exceeds CNY 200,000 million. Based on this platform, Shanghai Electric can provide customized digital solutions for manufacturing plants, to enhance their production flexibility, speed and security. This platform is Shanghai Electric's key industrial digital foundation, representing the essence of its digital expertise extracted from over a century of industrial experience. Based on the IIoT, and integrated with cloud computing, industrial control, artificial intelligence and big data, the platform builds industrial internet service capabilities covering the entire industrial chain and lifecycle, dedicated to serving the digital, intelligent, and green transformation of high-end equipment manufacturing. Another exciting highlight is the overseas-debut of Shanghai Electric's self-developed humanoid robot, Suyuan. Equipped with self-developed high-performance joints and intelligent control systems, Suyuan offers high degrees of freedom and flexible movement, enabling it to perform tasks in complex environments—from intricate industrial operations to rough-terrain inspections. Shanghai Electric aims to develop a broad portfolio of robots, including industrial robots, special robots, and humanoid robots, creating an open and collaborative industrial ecosystem that fosters large-scale deployment in industrial settings.

Hong Kong (HSI) Industrials Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

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