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Hong Kong (HSI) Industrials Sector Analysis

UpdatedDec 11, 2025
DataAggregated Company Financials
Companies477
  • 7D-2.2%
  • 3M1.2%
  • 1Y18.7%
  • YTD21.4%

Over the last 7 days, the Industrials industry has dropped 2.0%, driven by pullbacks in CK Hutchison Holdings and CITIC of 5.1% and 3.1%, respectively. In the past year, the industry has gained 19%. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Dec 2025HK$4.5tHK$7.7tHK$351.2b11.1x12.7x0.6x
Sun, 09 Nov 2025HK$4.6tHK$7.6tHK$348.8b11.3x13.1x0.6x
Tue, 07 Oct 2025HK$4.4tHK$7.6tHK$355.3b11.2x12.3x0.6x
Thu, 04 Sep 2025HK$4.4tHK$7.8tHK$354.2b10.5x12.5x0.6x
Sat, 02 Aug 2025HK$4.4tHK$7.8tHK$365.0b10.4x12.1x0.6x
Mon, 30 Jun 2025HK$4.2tHK$7.8tHK$366.2b9.9x11.5x0.5x
Wed, 28 May 2025HK$4.1tHK$7.8tHK$364.1b10.2x11.3x0.5x
Fri, 25 Apr 2025HK$3.8tHK$7.7tHK$356.6b9.4x10.7x0.5x
Sun, 23 Mar 2025HK$4.0tHK$7.7tHK$370.1b9.4x10.8x0.5x
Tue, 18 Feb 2025HK$3.9tHK$7.6tHK$373.2b8.9x10.5x0.5x
Thu, 16 Jan 2025HK$3.8tHK$7.6tHK$371.3b8.6x10.2x0.5x
Sat, 14 Dec 2024HK$4.0tHK$7.6tHK$373.2b8.7x10.6x0.5x
Mon, 11 Nov 2024HK$4.1tHK$7.7tHK$375.3b8.8x10.9x0.5x
Wed, 09 Oct 2024HK$4.1tHK$7.7tHK$360.8b8.9x11.3x0.5x
Fri, 06 Sep 2024HK$3.5tHK$7.7tHK$360.5b8.3x9.7x0.5x
Sun, 04 Aug 2024HK$3.6tHK$7.6tHK$360.2b8.1x10.1x0.5x
Tue, 02 Jul 2024HK$3.6tHK$7.4tHK$326.5b8.7x11.1x0.5x
Thu, 30 May 2024HK$3.8tHK$7.4tHK$330.2b8.8x11.5x0.5x
Sat, 27 Apr 2024HK$3.5tHK$7.4tHK$328.3b8.3x10.8x0.5x
Mon, 25 Mar 2024HK$3.4tHK$7.3tHK$328.0b7.7x10.5x0.5x
Wed, 21 Feb 2024HK$3.3tHK$7.3tHK$351.7b7.9x9.5x0.5x
Fri, 19 Jan 2024HK$3.2tHK$7.4tHK$352.7b7.9x9.1x0.4x
Sun, 17 Dec 2023HK$3.3tHK$7.4tHK$355.2b8.1x9.3x0.4x
Tue, 14 Nov 2023HK$3.2tHK$7.2tHK$349.7b7.8x9.1x0.4x
Thu, 12 Oct 2023HK$3.2tHK$7.2tHK$350.7b8x9.2x0.4x
Sat, 09 Sep 2023HK$3.3tHK$7.2tHK$350.2b8.3x9.5x0.5x
Mon, 07 Aug 2023HK$3.6tHK$7.2tHK$402.2b9.5x9x0.5x
Wed, 05 Jul 2023HK$3.6tHK$7.2tHK$413.8b9.4x8.8x0.5x
Fri, 02 Jun 2023HK$3.5tHK$7.3tHK$415.4b9x8.4x0.5x
Sun, 30 Apr 2023HK$3.9tHK$7.4tHK$420.1b9.5x9.2x0.5x
Tue, 28 Mar 2023HK$3.7tHK$7.3tHK$459.7b8.9x8.2x0.5x
Thu, 23 Feb 2023HK$3.8tHK$7.3tHK$471.1b8.8x8x0.5x
Sat, 21 Jan 2023HK$3.9tHK$7.4tHK$473.0b8.9x8.2x0.5x
Mon, 19 Dec 2022HK$3.7tHK$7.2tHK$462.6b8.7x7.9x0.5x
Price to Earnings Ratio

7.9x


Total Market Cap: HK$3.7tTotal Earnings: HK$462.6bTotal Revenue: HK$7.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Industrials Sector Price to Earnings3Y Average 10.2x202320242025
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 12.7x which is higher than its 3-year average PE of 10.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.50x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have declined 8.8% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.4% 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-1.82%
Industrials-2.18%
Professional Services3.23%
Electrical0.51%
Commercial Services0.28%
Aerospace & Defense-0.0021%
Machinery-0.12%
Trade Distributors-1.58%
Infrastructure-1.84%
Marine and Shipping-2.04%
Transportation-2.43%
Logistics-3.18%
Industrials-3.71%
Construction-3.95%
Airlines-4.73%
Building-5.17%
Industry PE
  • Investors are most optimistic about the Airlines industry even though it's trading below its 3-year average PE ratio of 24.6x.
    • Analysts are expecting annual earnings growth of 61.6%, which is higher than its past year's earnings growth of 16.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Professional Services industry, expecting annual earnings growth of 65% over the next 5 years.
  • This is better than its past earnings growth rate of 7.0% per year.
  • In contrast, the Marine and Shipping industry is expected to see its earnings decline by 28% 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
1072 Dongfang ElectricHK$21.926.6%
+HK$4.7b		127.6%PE21.1x
2338 Weichai PowerHK$19.830.9%
+HK$1.5b		70.1%PE13x
9900 Hong Kong Zcloud Technology ConstructionHK$5.2210.1%
+HK$1.4b		1,967.3%PE871.7x
631 Sany Heavy Equipment International HoldingsHK$7.883.7%
+HK$904.7m		58.6%PE16.3x
1133 Harbin ElectricHK$14.252.9%
+HK$894.5m		446.0%PE13.1x

Latest News

669
HK$92.05
Techtronic Industries
7D
-3.2%
1Y
-13.6%
1618
HK$1.82
Metallurgical Corporation of China
7D
-20.5%
1Y
10.3%
267
HK$12.05
CITIC
7D
-2.4%
1Y
32.6%

267: Interim Dividend Will Drive Shares Higher As Earnings Multiple Expands

Analysts have modestly adjusted their price target on CITIC upward, citing stable fair value at about $13.77 per share, along with slightly improved expectations for future earnings multiples, despite largely unchanged growth and margin assumptions. Valuation Changes Fair Value Estimate: Remains effectively unchanged at approximately HK$13.77 per share, indicating stable intrinsic value assumptions.
631
HK$7.88
Sany Heavy Equipment International Holdings
7D
3.7%
1Y
58.6%

Is Sany Heavy Equipment International Holdings (HKG:631) Using Too Much Debt?

Dec 05
Is Sany Heavy Equipment International Holdings (HKG:631) Using Too Much Debt?
1
HK$54.05
CK Hutchison Holdings
7D
-6.0%
1Y
26.0%

1: AS Watson IPO Plans Will Shape A Balanced Risk Reward Outlook

Analysts have nudged their price target for CK Hutchison Holdings slightly higher to approximately $62.01 from about $61.73, citing a modestly lower discount rate and stable expectations for revenue growth, profit margins, and future earnings multiples. What's in the News CK Hutchison is exploring an initial public offering of its AS Watson Group health and beauty retail arm, with talks under way with financial advisers on the timing and structure of a potential deal (Key Developments).
2442
HK$8.69
Easy Smart Group Holdings
7D
10.6%
1Y
675.9%
1072
HK$21.92
Dongfang Electric
7D
6.6%
1Y
127.6%

Returns At Dongfang Electric (HKG:1072) Are On The Way Up

Dec 01
Returns At Dongfang Electric (HKG:1072) Are On The Way Up
9900
HK$5.22
Hong Kong Zcloud Technology Construction
7D
10.1%
1Y
1,967.3%
2338
HK$19.83
Weichai Power
7D
0.9%
1Y
70.1%

Is There An Opportunity With Weichai Power Co., Ltd.'s (HKG:2338) 39% Undervaluation?

Nov 30
Is There An Opportunity With Weichai Power Co., Ltd.'s (HKG:2338) 39% Undervaluation?
1519
HK$10.08
J&T Global Express
7D
-4.0%
1Y
62.6%

1519: Share Repurchases Will Support Earnings Upside Following Index Exit

Analysts have maintained their fair value estimate for J&T Global Express at $11.51 per share. This decision is based on minimal changes in revenue growth and profit margin assumptions, along with a slightly higher discount rate that reflects current market conditions.
1133
HK$14.25
Harbin Electric
7D
2.9%
1Y
446.0%
316
HK$127.20
Orient Overseas (International)
7D
-4.9%
1Y
24.6%

When Should You Buy Orient Overseas (International) Limited (HKG:316)?

Nov 20
When Should You Buy Orient Overseas (International) Limited (HKG:316)?
66
HK$30.34
MTR
7D
-3.1%
1Y
8.0%
38
HK$8.08
First Tractor
7D
9.8%
1Y
7.6%

Is Now The Time To Look At Buying First Tractor Company Limited (HKG:38)?

Nov 19
Is Now The Time To Look At Buying First Tractor Company Limited (HKG:38)?
8137
HK$0.49
Honbridge Holdings
7D
8.8%
1Y
-26.1%

Health Check: How Prudently Does Honbridge Holdings (HKG:8137) Use Debt?

Oct 31
Health Check: How Prudently Does Honbridge Holdings (HKG:8137) Use Debt?
753
HK$6.22
Air China
7D
-5.0%
1Y
16.3%