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Hong Kong (HSI) Industrials Sector Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies483
  • 7D-3.3%
  • 3M8.2%
  • 1Y27.5%
  • YTD8.3%

Over the last 7 days, the Industrials industry has dropped 3.3%, driven by a pullback from Weichai Power of 11%. In contrast, JD Logistics has gained 8.0%. In the past year, the industry has gained 28%. 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
Sat, 14 Mar 2026HK$5.0tHK$7.9tHK$354.5b11.5x14.1x0.6x
Mon, 09 Feb 2026HK$5.0tHK$7.9tHK$358.1b11.7x13.8x0.6x
Wed, 07 Jan 2026HK$4.6tHK$7.8tHK$355.4b11x13.1x0.6x
Fri, 05 Dec 2025HK$4.5tHK$7.7tHK$351.0b10.9x12.9x0.6x
Sun, 02 Nov 2025HK$4.4tHK$7.6tHK$340.9b11x13x0.6x
Tue, 30 Sep 2025HK$4.4tHK$7.6tHK$355.2b10.7x12.3x0.6x
Thu, 28 Aug 2025HK$4.5tHK$7.8tHK$354.3b11.1x12.7x0.6x
Sat, 26 Jul 2025HK$4.6tHK$7.8tHK$366.7b10.6x12.4x0.6x
Mon, 23 Jun 2025HK$4.2tHK$7.8tHK$366.1b10.1x11.4x0.5x
Wed, 21 May 2025HK$4.1tHK$7.8tHK$362.9b10x11.3x0.5x
Fri, 18 Apr 2025HK$3.8tHK$7.7tHK$356.5b9.2x10.6x0.5x
Sun, 16 Mar 2025HK$4.0tHK$7.7tHK$375.1b9.3x10.7x0.5x
Tue, 11 Feb 2025HK$3.8tHK$7.6tHK$372.1b8.6x10.3x0.5x
Thu, 09 Jan 2025HK$3.8tHK$7.5tHK$371.0b8.7x10.2x0.5x
Sat, 07 Dec 2024HK$4.0tHK$7.6tHK$373.8b8.4x10.6x0.5x
Mon, 04 Nov 2024HK$4.0tHK$7.7tHK$377.2b8.6x10.5x0.5x
Wed, 02 Oct 2024HK$4.1tHK$7.8tHK$361.8b8.7x11.2x0.5x
Fri, 30 Aug 2024HK$3.6tHK$7.7tHK$371.9b7.9x9.7x0.5x
Sun, 28 Jul 2024HK$3.5tHK$7.4tHK$327.7b8.2x10.7x0.5x
Tue, 25 Jun 2024HK$3.6tHK$7.4tHK$327.9b8.7x11.1x0.5x
Thu, 23 May 2024HK$3.9tHK$7.4tHK$330.3b8.7x11.7x0.5x
Sat, 20 Apr 2024HK$3.5tHK$7.4tHK$328.4b8.1x10.6x0.5x
Mon, 18 Mar 2024HK$3.5tHK$7.3tHK$363.1b7.5x9.6x0.5x
Wed, 14 Feb 2024HK$3.3tHK$7.3tHK$351.8b7.6x9.2x0.4x
Fri, 12 Jan 2024HK$3.3tHK$7.4tHK$353.6b8.2x9.3x0.4x
Sun, 10 Dec 2023HK$3.2tHK$7.4tHK$354.5b8.1x8.9x0.4x
Tue, 07 Nov 2023HK$3.2tHK$7.3tHK$350.9b8.2x9.2x0.4x
Thu, 05 Oct 2023HK$3.3tHK$7.2tHK$351.9b7.9x9.4x0.5x
Sat, 02 Sep 2023HK$3.4tHK$7.2tHK$364.2b8.5x9.3x0.5x
Mon, 31 Jul 2023HK$3.7tHK$7.2tHK$414.1b9.2x8.9x0.5x
Wed, 28 Jun 2023HK$3.6tHK$7.2tHK$413.2b9.5x8.7x0.5x
Fri, 26 May 2023HK$3.6tHK$7.3tHK$417.7b9.3x8.7x0.5x
Sun, 23 Apr 2023HK$3.8tHK$7.4tHK$430.4b9.7x8.9x0.5x
Tue, 21 Mar 2023HK$3.7tHK$7.3tHK$462.3b8.7x8.1x0.5x
Price to Earnings Ratio

8.1x


Total Market Cap: HK$3.7tTotal Earnings: HK$462.3bTotal 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 14.1x 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 2.7% 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, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Hong Kong Industrials sector?

HK Market-0.32%
Industrials-3.32%
Professional Services2.38%
Construction2.09%
Trade Distributors0.89%
Logistics0.52%
Commercial Services-0.70%
Infrastructure-0.93%
Building-2.52%
Industrials-2.68%
Marine and Shipping-3.92%
Electrical-5.96%
Machinery-6.62%
Airlines-6.98%
Transportation-7.67%
Aerospace & Defense-7.97%
Industry PE
  • Investors are most optimistic about the Machinery industry which is trading above its 3-year average PE ratio of 17.0x.
    • Analysts are expecting annual earnings growth of 19.6%, which is higher than its past year's earnings growth of 6.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Airlines industry, expecting annual earnings growth of 70% 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 26% 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
2618 JD LogisticsHK$13.648.0%
+HK$6.2b		1.3%PE11.2x
19 Swire PacificHK$85.304.9%
+HK$5.3b		23.8%PE39.2x
7618 JINGDONG IndustrialsHK$13.3816.7%
+HK$5.1b		n/aPE13.7x
1757 Global Chinese Business ClubHK$20.3821.2%
+HK$4.3b		20,078.2%PE21266.1x
3996 China Energy EngineeringHK$1.466.6%
+HK$3.8b		41.7%PE6.7x

Latest News

66
HK$32.38
MTR
7D
-8.5%
1Y
23.1%
19
HK$85.30
Swire Pacific
7D
4.9%
1Y
23.8%

Mainland Property Expansion And Aviation Bets Will Increase Long Term Earnings Risk

Catalysts About Swire Pacific Swire Pacific is a diversified group with core businesses in property, beverages and aviation, focused on Greater China and Southeast Asia. What are the underlying business or industry changes driving this perspective?
669
HK$112.70
Techtronic Industries
7D
-5.4%
1Y
15.1%

669: Higher Margins And Dividend Progress Will Support Balanced Future Prospects

Analysts have raised their fair value estimate for Techtronic Industries to HK$136.65 from HK$118.14, citing updated assumptions related to slightly higher revenue growth, stronger profit margins and a higher future P/E multiple. What's in the News The board plans to seek shareholder approval at the 2026 AGM on May 8, 2026 for amendments to the Articles of Association to allow issuing, holding, registering and transferring shares in uncertificated form, and to update related housekeeping provisions to align with Hong Kong regulatory requirements (Key Developments).
2618
HK$13.64
JD Logistics
7D
8.0%
1Y
1.3%
7618
HK$13.38
JINGDONG Industrials
7D
16.7%
1Y
n/a
267
HK$11.32
CITIC
7D
-4.3%
1Y
17.9%

267: Steady Assumptions And Low P/E Will Support Future Repricing

Analysts have kept their HK$13.77 price target for CITIC unchanged, reflecting broadly consistent assumptions around the discount rate, revenue trends, profit margin and forward P/E multiples compared with their prior view. Valuation Changes Fair Value: The HK$13.77 fair value estimate is unchanged, indicating no revision to the core valuation anchor.
3996
HK$1.46
China Energy Engineering
7D
6.6%
1Y
41.7%
656
HK$3.97
Fosun International
7D
10.6%
1Y
-12.4%

656: One Off Impairments Will Set Stage For Future Earnings Rebound

Analysts have made a small upward adjustment to their HK$ price target for Fosun International, reflecting slightly higher assumptions for fair value, revenue growth, and profit margins, along with a modestly lower future P/E multiple. What's in the News Fosun International issued consolidated earnings guidance for the year ended 31 December 2025, expecting a loss attributable to owners of the parent of approximately RMB 21.5b to RMB 23.5b, compared with a loss of approximately RMB 4.35b for 2024 (company guidance).
753
HK$5.39
Air China
7D
-8.6%
1Y
3.7%
1
HK$58.25
CK Hutchison Holdings
7D
-5.4%
1Y
25.9%
1072
HK$39.30
Dongfang Electric
7D
-12.3%
1Y
283.8%
2338
HK$28.26
Weichai Power
7D
-11.0%
1Y
77.7%

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
1919
HK$15.35
COSCO SHIPPING Holdings
7D
-3.8%
1Y
29.2%

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

Jan 25
COSCO SHIPPING Holdings (HKG:1919) Seems To Use Debt Quite Sensibly
1757
HK$20.38
Global Chinese Business Club
7D
21.2%
1Y
20,078.2%
666
HK$15.92
REPT BATTERO Energy
7D
6.8%
1Y
48.8%
1196
HK$13.99
Realord Group Holdings
7D
14.2%
1Y
96.2%