Narrative Update • Jul 30
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Hong Kong (HSI) Construction Industry Analysis
UpdatedAug 13, 2026
DataAggregated Company Financials
Companies150
- 7D-1.9%
- 3M-9.7%
- 1Y-11.3%
- YTD-6.3%
Over the last 7 days, the Construction industry has dropped 1.9%, driven by a pullback from China Communications Construction of 4.6%. Meanwhile, Hong Kong Zcloud Technology Construction actually outperformed within the industry, gaining 16% in the last week. The industry has fallen 11% in the last year. Earnings are forecast to grow by 9.0% annually.
Industry Valuation and Performance
Has the Hong Kong Construction Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 13 Aug 2026 | HK$583.8b | HK$2.5t | HK$43.0b | 12.2x | 13.6x | 0.2x |
| Sat, 11 Jul 2026 | HK$578.6b | HK$2.5t | HK$42.7b | 11.3x | 13.6x | 0.2x |
| Mon, 08 Jun 2026 | HK$615.2b | HK$2.5t | HK$43.3b | 12.3x | 14.2x | 0.2x |
| Wed, 06 May 2026 | HK$617.5b | HK$2.5t | HK$43.0b | 12.5x | 14.4x | 0.2x |
| Fri, 03 Apr 2026 | HK$605.5b | HK$2.5t | HK$40.9b | 13.8x | 14.8x | 0.2x |
| Sun, 01 Mar 2026 | HK$617.7b | HK$2.6t | HK$45.1b | 10.9x | 13.7x | 0.2x |
| Tue, 27 Jan 2026 | HK$606.9b | HK$2.5t | HK$44.3b | 10.7x | 13.7x | 0.2x |
| Thu, 25 Dec 2025 | HK$574.8b | HK$2.5t | HK$43.6b | 10.9x | 13.2x | 0.2x |
| Sat, 22 Nov 2025 | HK$573.4b | HK$2.5t | HK$42.9b | 11.3x | 13.4x | 0.2x |
| Mon, 20 Oct 2025 | HK$584.8b | HK$2.5t | HK$46.8b | 10.8x | 12.5x | 0.2x |
| Wed, 17 Sep 2025 | HK$583.4b | HK$2.5t | HK$47.8b | 11.3x | 12.2x | 0.2x |
| Fri, 15 Aug 2025 | HK$584.4b | HK$2.5t | HK$49.5b | 12.2x | 11.8x | 0.2x |
| Sun, 13 Jul 2025 | HK$557.8b | HK$2.5t | HK$49.6b | 10.1x | 11.2x | 0.2x |
| Tue, 10 Jun 2025 | HK$544.8b | HK$2.5t | HK$49.6b | 12.2x | 11x | 0.2x |
| Thu, 08 May 2025 | HK$537.8b | HK$2.5t | HK$48.8b | 11.7x | 11x | 0.2x |
| Sat, 05 Apr 2025 | HK$536.8b | HK$2.5t | HK$51.1b | 11.9x | 10.5x | 0.2x |
| Mon, 03 Mar 2025 | HK$549.6b | HK$2.5t | HK$56.8b | 12.9x | 9.7x | 0.2x |
| Wed, 29 Jan 2025 | HK$540.3b | HK$2.5t | HK$57.2b | 11x | 9.4x | 0.2x |
| Fri, 27 Dec 2024 | HK$570.4b | HK$2.5t | HK$56.7b | 11.1x | 10.1x | 0.2x |
| Sun, 24 Nov 2024 | HK$550.3b | HK$2.5t | HK$57.3b | 9.7x | 9.6x | 0.2x |
| Tue, 22 Oct 2024 | HK$573.9b | HK$2.6t | HK$56.1b | 9.3x | 10.2x | 0.2x |
| Thu, 19 Sep 2024 | HK$463.6b | HK$2.6t | HK$56.1b | 8.7x | 8.3x | 0.2x |
| Sat, 17 Aug 2024 | HK$524.5b | HK$2.6t | HK$65.8b | 8.8x | 8x | 0.2x |
| Mon, 15 Jul 2024 | HK$516.3b | HK$2.6t | HK$65.1b | 9.1x | 7.9x | 0.2x |
| Wed, 12 Jun 2024 | HK$531.5b | HK$2.6t | HK$65.0b | 8.4x | 8.2x | 0.2x |
| Fri, 10 May 2024 | HK$510.6b | HK$2.6t | HK$65.6b | 8.9x | 7.8x | 0.2x |
| Sun, 07 Apr 2024 | HK$501.8b | HK$2.6t | HK$67.6b | 7.9x | 7.4x | 0.2x |
| Tue, 05 Mar 2024 | HK$491.0b | HK$2.6t | HK$73.6b | 7.3x | 6.7x | 0.2x |
| Thu, 01 Feb 2024 | HK$478.4b | HK$2.6t | HK$74.4b | 7.7x | 6.4x | 0.2x |
| Sat, 30 Dec 2023 | HK$474.6b | HK$2.6t | HK$74.2b | 8.3x | 6.4x | 0.2x |
| Mon, 27 Nov 2023 | HK$479.7b | HK$2.6t | HK$72.9b | 9.7x | 6.6x | 0.2x |
| Wed, 25 Oct 2023 | HK$467.1b | HK$2.5t | HK$73.1b | 9x | 6.4x | 0.2x |
| Fri, 22 Sep 2023 | HK$500.2b | HK$2.5t | HK$74.0b | 11.7x | 6.8x | 0.2x |
| Sun, 20 Aug 2023 | HK$545.3b | HK$2.5t | HK$73.3b | 9.9x | 7.4x | 0.2x |
Price to Earnings Ratio
7.4x
Current Industry PE
- Investors are optimistic on the Hong Kong Construction industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 13.6x 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 0.22x.
Past Earnings Growth
- The earnings for companies in the Construction industry have declined 16% 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 | -1.10% | |
| Industrials | -0.36% | |
| Construction | -1.92% | |
| Construction and Engineering | -1.92% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 9900 Hong Kong Zcloud Technology Construction | HK$6.10 | 16.2% +HK$2.5b | 240.8% | PE2604.2x | |
| 9929 SEM Holdings | HK$2.30 | 35.0% +HK$1.2b | 3,325.4% | PS69.3x | |
| 368 Superland Group Holdings | HK$5.72 | 20.3% +HK$772.0m | 1,870.7% | PE205.3x | |
| 1799 Xinte Energy | HK$4.65 | 9.3% +HK$564.9m | -31.3% | PS0.4x | |
| 2442 Easy Smart Group Holdings | HK$68.00 | 0.7% +HK$204.0m | 2,197.3% | PS102.7x |