Analysis Article • Aug 25
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Hong Kong (HSI) Materials Sector Analysis
UpdatedSep 21, 2026
DataAggregated Company Financials
Companies137
- 7D-1.6%
- 3M6.7%
- 1Y-1.0%
- YTD-16.3%
The Materials industry is down 1.6% over the last week with Zhaojin Mining Industry the worst performer, down 5.4%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 19% per annum.
Sector Valuation and Performance
Has the Hong Kong Materials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 21 Sep 2026 | HK$1.9t | HK$3.0t | HK$120.1b | 9.6x | 15.9x | 0.6x |
| Wed, 19 Aug 2026 | HK$1.9t | HK$2.9t | HK$100.2b | 12.6x | 19x | 0.7x |
| Fri, 17 Jul 2026 | HK$1.7t | HK$2.8t | HK$92.9b | 12.2x | 18x | 0.6x |
| Sun, 14 Jun 2026 | HK$1.9t | HK$2.8t | HK$92.4b | 13.4x | 20.3x | 0.7x |
| Tue, 12 May 2026 | HK$2.2t | HK$2.8t | HK$92.2b | 16.3x | 24.3x | 0.8x |
| Thu, 09 Apr 2026 | HK$2.4t | HK$2.8t | HK$83.8b | 15.8x | 29x | 0.9x |
| Sat, 07 Mar 2026 | HK$2.5t | HK$2.7t | HK$99.2b | 13.4x | 25.6x | 0.9x |
| Mon, 02 Feb 2026 | HK$2.6t | HK$2.7t | HK$96.6b | 14.4x | 27x | 1x |
| Wed, 31 Dec 2025 | HK$2.1t | HK$2.7t | HK$95.5b | 13.2x | 22x | 0.8x |
| Fri, 28 Nov 2025 | HK$1.9t | HK$2.6t | HK$94.3b | 12.4x | 20.3x | 0.7x |
| Sun, 26 Oct 2025 | HK$1.8t | HK$2.6t | HK$85.4b | 13.1x | 21.3x | 0.7x |
| Tue, 23 Sep 2025 | HK$2.5t | HK$3.2t | HK$172.5b | 11.8x | 14.7x | 0.8x |
| Thu, 21 Aug 2025 | HK$2.2t | HK$3.2t | HK$160.6b | 12.5x | 13.9x | 0.7x |
| Sat, 19 Jul 2025 | HK$2.0t | HK$3.3t | HK$154.4b | 10.5x | 12.7x | 0.6x |
| Mon, 16 Jun 2025 | HK$1.9t | HK$3.3t | HK$152.9b | 10.4x | 12.2x | 0.6x |
| Wed, 14 May 2025 | HK$1.7t | HK$3.2t | HK$133.1b | 10x | 13x | 0.5x |
| Fri, 11 Apr 2025 | HK$1.6t | HK$3.2t | HK$118.9b | 9.7x | 13.4x | 0.5x |
| Sun, 09 Mar 2025 | HK$1.7t | HK$3.2t | HK$105.0b | 10.8x | 16x | 0.5x |
| Tue, 04 Feb 2025 | HK$1.6t | HK$3.2t | HK$104.6b | 11.9x | 15.2x | 0.5x |
| Thu, 02 Jan 2025 | HK$1.5t | HK$3.1t | HK$103.9b | 12x | 14.6x | 0.5x |
| Sat, 30 Nov 2024 | HK$1.6t | HK$3.2t | HK$105.4b | 11.8x | 14.8x | 0.5x |
| Mon, 28 Oct 2024 | HK$1.7t | HK$3.2t | HK$109.8b | 10.4x | 15.4x | 0.5x |
| Wed, 25 Sep 2024 | HK$1.6t | HK$3.3t | HK$105.4b | 9.9x | 14.8x | 0.5x |
| Fri, 23 Aug 2024 | HK$1.5t | HK$3.2t | HK$95.7b | 9.6x | 15.7x | 0.5x |
| Sun, 21 Jul 2024 | HK$1.6t | HK$3.2t | HK$88.4b | 10.3x | 18.2x | 0.5x |
| Tue, 18 Jun 2024 | HK$1.6t | HK$3.2t | HK$88.0b | 10.8x | 18.2x | 0.5x |
| Thu, 16 May 2024 | HK$1.7t | HK$3.2t | HK$88.2b | 11.9x | 19.8x | 0.5x |
| Sat, 13 Apr 2024 | HK$1.7t | HK$3.3t | HK$89.7b | 11.9x | 18.6x | 0.5x |
| Mon, 11 Mar 2024 | HK$1.4t | HK$3.2t | HK$75.2b | 8.8x | 19.2x | 0.4x |
| Wed, 07 Feb 2024 | HK$1.3t | HK$3.3t | HK$73.3b | 9x | 17.2x | 0.4x |
| Fri, 05 Jan 2024 | HK$1.3t | HK$3.3t | HK$68.9b | 9.7x | 19x | 0.4x |
| Sun, 03 Dec 2023 | HK$1.3t | HK$3.3t | HK$68.9b | 9.1x | 18.9x | 0.4x |
| Tue, 31 Oct 2023 | HK$1.4t | HK$3.2t | HK$66.7b | 9x | 20.3x | 0.4x |
| Thu, 28 Sep 2023 | HK$1.4t | HK$3.2t | HK$60.8b | 9.4x | 22.8x | 0.4x |
Price to Earnings Ratio
22.8x
Current Industry PE
- Investors are pessimistic on the Hong Kong Materials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 15.9x which is lower than its 3-year average PE of 18.2x.
- The industry is trading close to its 3-year average PS ratio of 0.59x.
Past Earnings Growth
- The earnings for companies in the Materials industry have grown 25% per year over the last three years.
- Meanwhile revenues for these companies have declined 2.6% per year.
- This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Hong Kong Materials sector?
| HK Market | -0.71% | |
| Materials | -1.56% | |
| Packaging | 3.75% | |
| Metals and Mining | -1.40% | |
| Paper and Forestry Products | -2.01% | |
| Chemicals | -2.27% | |
| Basic Materials | -3.66% | |
Industry PE
- Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 15.6x.
- Analysts are expecting annual earnings growth of 47.9%, which is higher than its past year's earnings decline of 1.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Basic Materials industry, expecting annual earnings growth of 56% over the next 5 years.
- This is better than its past earnings decline of 49% per year.
- In contrast, the Paper and Forestry Products industry is expected to see its earnings grow by 14% 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 | |
|---|---|---|---|---|---|
| 3939 Wanguo Gold Group | HK$15.86 | 2.7% +HK$1.8b | 78.5% | PE35.9x | |
| 2546 Xizang Zhihui Mining | HK$22.04 | 17.0% +HK$1.6b | n/a | PE41.3x | |
| 3330 Lingbao Gold Group | HK$24.56 | 4.5% +HK$1.5b | 49.2% | PE15.6x | |
| 336 Huabao International Holdings | HK$3.53 | 14.4% +HK$1.4b | -19.0% | PS2.6x | |
| 2245 Lygend Resources & Technology | HK$17.43 | 4.4% +HK$1.2b | 13.9% | PE5.6x |