Analysis Article • Mar 27
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Hong Kong (HSI) Commercial Services Industry Analysis
UpdatedMay 23, 2026
DataAggregated Company Financials
Companies68
- 7D-1.7%
- 3M3.7%
- 1Y9.9%
- YTD7.5%
Over the last 7 days, the Commercial Services industry has dropped 1.7%, driven by China Everbright Environment Group declining 4.1%. Meanwhile, Riverine China Holdings actually outperformed within the industry, gaining 77% in the last week. In the past year, the industry has gained 9.9%. As for the next few years, earnings are expected to grow by 9.0% per annum.
Industry Valuation and Performance
Has the Hong Kong Commercial Services Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 23 May 2026 | HK$101.2b | HK$117.1b | HK$5.2b | 8.8x | 19.4x | 0.9x |
| Mon, 20 Apr 2026 | HK$98.6b | HK$116.9b | HK$5.2b | 9.7x | 18.9x | 0.8x |
| Wed, 18 Mar 2026 | HK$100.4b | HK$116.7b | HK$5.8b | 9.9x | 17.3x | 0.9x |
| Fri, 13 Feb 2026 | HK$98.1b | HK$115.4b | HK$5.7b | 9.7x | 17.1x | 0.9x |
| Sun, 11 Jan 2026 | HK$93.7b | HK$114.2b | HK$5.6b | 9.5x | 16.7x | 0.8x |
| Tue, 09 Dec 2025 | HK$94.2b | HK$113.2b | HK$5.6b | 10x | 16.8x | 0.8x |
| Thu, 06 Nov 2025 | HK$96.7b | HK$112.1b | HK$5.6b | 10x | 17.4x | 0.9x |
| Sat, 04 Oct 2025 | HK$95.2b | HK$112.2b | HK$5.6b | 9.1x | 17.1x | 0.8x |
| Mon, 01 Sep 2025 | HK$97.0b | HK$112.4b | HK$5.8b | 9.5x | 16.8x | 0.9x |
| Wed, 30 Jul 2025 | HK$95.5b | HK$110.9b | HK$6.4b | 10.9x | 15x | 0.9x |
| Fri, 27 Jun 2025 | HK$92.0b | HK$127.1b | HK$6.4b | 10.8x | 14.5x | 0.7x |
| Sun, 25 May 2025 | HK$92.6b | HK$127.1b | HK$6.4b | 11.2x | 14.5x | 0.7x |
| Tue, 22 Apr 2025 | HK$84.8b | HK$125.4b | HK$6.0b | 9.2x | 14.2x | 0.7x |
| Thu, 20 Mar 2025 | HK$87.7b | HK$126.4b | HK$13.4b | 7.3x | 6.5x | 0.7x |
| Sat, 15 Feb 2025 | HK$80.9b | HK$126.3b | HK$13.4b | 7.3x | 6x | 0.6x |
| Mon, 13 Jan 2025 | HK$82.8b | HK$125.7b | HK$13.3b | 6.8x | 6.2x | 0.7x |
| Wed, 11 Dec 2024 | HK$89.0b | HK$126.2b | HK$13.4b | 7.6x | 6.6x | 0.7x |
| Fri, 08 Nov 2024 | HK$91.1b | HK$127.8b | HK$13.7b | 7.8x | 6.7x | 0.7x |
| Sun, 06 Oct 2024 | HK$94.1b | HK$129.0b | HK$13.8b | 8.6x | 6.8x | 0.7x |
| Tue, 03 Sep 2024 | HK$83.6b | HK$129.0b | HK$14.3b | 8.1x | 5.9x | 0.6x |
| Thu, 01 Aug 2024 | HK$84.6b | HK$128.2b | HK$14.0b | 7.9x | 6x | 0.7x |
| Sat, 29 Jun 2024 | HK$100.0b | HK$126.9b | HK$14.1b | 7.8x | 7.1x | 0.8x |
| Mon, 27 May 2024 | HK$102.7b | HK$127.7b | HK$13.5b | 6.5x | 7.6x | 0.8x |
| Wed, 24 Apr 2024 | HK$88.8b | HK$128.1b | HK$13.7b | 6.7x | 6.5x | 0.7x |
| Fri, 22 Mar 2024 | HK$83.9b | HK$127.3b | HK$11.6b | 6.4x | 7.2x | 0.7x |
| Sun, 18 Feb 2024 | HK$61.8b | HK$112.4b | HK$4.3b | 6.6x | 14.4x | 0.5x |
| Tue, 16 Jan 2024 | HK$67.0b | HK$114.0b | HK$4.4b | 7.1x | 15.1x | 0.6x |
| Thu, 14 Dec 2023 | HK$64.9b | HK$113.8b | HK$4.4b | 6.1x | 14.6x | 0.6x |
| Sat, 11 Nov 2023 | HK$66.7b | HK$112.8b | HK$4.3b | 6.2x | 15.4x | 0.6x |
| Mon, 09 Oct 2023 | HK$69.4b | HK$112.7b | HK$4.4b | 5.9x | 15.8x | 0.6x |
| Wed, 06 Sep 2023 | HK$71.4b | HK$112.8b | HK$4.5b | 6.7x | 15.9x | 0.6x |
| Fri, 04 Aug 2023 | HK$76.8b | HK$120.4b | HK$4.9b | 7.5x | 15.8x | 0.6x |
| Sun, 02 Jul 2023 | HK$73.4b | HK$120.1b | HK$4.9b | 7.9x | 15x | 0.6x |
| Tue, 30 May 2023 | HK$73.1b | HK$123.1b | HK$6.0b | 7.7x | 12.2x | 0.6x |
Price to Earnings Ratio
12.2x
Current Industry PE
- Investors are optimistic on the Hong Kong Commercial Services industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 19.4x which is higher than its 3-year average PE of 12.7x.
- The industry is trading close to its 3-year average PS ratio of 0.72x.
Past Earnings Growth
- The earnings for companies in the Commercial Services industry have declined 4.7% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, 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 industry?
| HK Market | -1.48% | |
| Industrials | -0.75% | |
| Commercial Services | -1.73% | |
| Security and Alarm Services | 5.50% | |
| Commercial Printing | 2.35% | |
| Diversified Support Services | -0.87% | |
| Office Services and Supplies | -1.67% | |
| Environmental and Facilities Services | -2.31% | |
Industry PE
- Investors are most optimistic about the Commercial Printing industry which is trading above its 3-year average PE ratio.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Diversified Support Services industry, expecting annual earnings growth of 15% over the next 5 years.
- This is better than its past earnings decline of 12% per year.
- In contrast, the Environmental and Facilities Services industry is expected to see its earnings grow by 6.9% 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 | |
|---|---|---|---|---|---|
| 1417 Riverine China Holdings | HK$1.49 | 77.4% +HK$263.3m | 505.7% | PS0.5x | |
| 1631 REF Holdings | HK$1.47 | 38.7% +HK$105.0m | 188.2% | PE126.5x | |
| 1481 Smart Globe Holdings | HK$1.94 | 5.4% +HK$102.0m | 300.0% | PE250.8x | |
| 1850 Beautiful Life Group Holdings | HK$1.80 | 27.7% +HK$67.4m | 89.5% | PS0.8x | |
| 8283 Zhongshi Minan Holdings | HK$0.60 | 34.8% +HK$53.6m | 33.3% | PS1.9x |