Has the Hong Kong Chemicals Industry valuation changed over the past few years?

Investors are optimistic on the Hong Kong Chemicals industry, and appear confident in long term growth rates. The industry is trading at a PE ratio of 20.5x which is higher than its 3-year average PE of 15.0x. The industry is trading close to its 3-year average PS ratio of 0.43x.

Which industries have driven the changes within the Hong Kong Materials industry?

Investors are most optimistic about the Commodity Chemicals industry which is trading above its 3-year average PE ratio of 28.6x. Analysts are expecting annual earnings growth of 94.2%, which is higher than its past year's earnings growth of 12.2% per year.

Hong Kong (HSI) Chemicals Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sat, 18 Jul 2026	HK$151.3b	HK$325.3b	HK$7.5b	11.2x	20.1x	0.5x
Mon, 15 Jun 2026	HK$188.2b	HK$325.2b	HK$7.2b	10.9x	26x	0.6x
Wed, 13 May 2026	HK$178.3b	HK$323.0b	HK$7.4b	11.8x	24x	0.6x
Fri, 10 Apr 2026	HK$177.9b	HK$323.0b	HK$6.8b	11.3x	26.2x	0.6x
Sun, 08 Mar 2026	HK$193.2b	HK$327.5b	HK$10.8b	10.3x	17.9x	0.6x
Tue, 03 Feb 2026	HK$180.4b	HK$325.1b	HK$10.7b	10x	16.8x	0.6x
Thu, 01 Jan 2026	HK$167.3b	HK$321.5b	HK$10.6b	8.6x	15.8x	0.5x
Sat, 29 Nov 2025	HK$161.4b	HK$318.2b	HK$10.5b	9.3x	15.4x	0.5x
Mon, 27 Oct 2025	HK$156.2b	HK$315.4b	HK$10.4b	9x	15x	0.5x
Wed, 24 Sep 2025	HK$157.5b	HK$319.4b	HK$10.4b	8x	15.2x	0.5x
Fri, 22 Aug 2025	HK$162.2b	HK$327.0b	HK$8.9b	10.7x	18.3x	0.5x
Sun, 20 Jul 2025	HK$146.6b	HK$328.0b	HK$8.9b	9.8x	16.5x	0.4x
Tue, 17 Jun 2025	HK$142.4b	HK$328.0b	HK$8.8b	9.5x	16.3x	0.4x
Thu, 15 May 2025	HK$133.2b	HK$324.4b	HK$8.6b	9.4x	15.4x	0.4x
Sat, 12 Apr 2025	HK$126.1b	HK$320.2b	HK$8.6b	9x	14.6x	0.4x
Mon, 10 Mar 2025	HK$131.8b	HK$329.8b	HK$8.5b	9.7x	15.4x	0.4x
Wed, 05 Feb 2025	HK$125.3b	HK$330.0b	HK$8.6b	9.7x	14.6x	0.4x
Fri, 03 Jan 2025	HK$127.3b	HK$327.2b	HK$8.5b	9.3x	15x	0.4x
Sun, 01 Dec 2024	HK$125.6b	HK$330.2b	HK$8.3b	9.3x	15.2x	0.4x
Tue, 29 Oct 2024	HK$127.9b	HK$334.0b	HK$8.4b	9.4x	15.3x	0.4x
Thu, 26 Sep 2024	HK$120.2b	HK$341.9b	HK$8.8b	8.6x	13.7x	0.4x
Sat, 24 Aug 2024	HK$116.1b	HK$327.3b	HK$9.1b	8.9x	12.7x	0.4x
Mon, 22 Jul 2024	HK$123.1b	HK$322.0b	HK$9.9b	10.2x	12.4x	0.4x
Wed, 19 Jun 2024	HK$129.3b	HK$323.6b	HK$10.1b	10.1x	12.8x	0.4x
Fri, 17 May 2024	HK$135.3b	HK$322.3b	HK$10.1b	10.4x	13.4x	0.4x
Sun, 14 Apr 2024	HK$119.2b	HK$323.5b	HK$10.1b	8.7x	11.8x	0.4x
Tue, 12 Mar 2024	HK$113.8b	HK$315.8b	HK$11.2b	5.2x	10.2x	0.4x
Thu, 08 Feb 2024	HK$108.9b	HK$318.8b	HK$11.0b	5.7x	9.9x	0.3x
Sat, 06 Jan 2024	HK$118.5b	HK$321.1b	HK$11.4b	5.8x	10.4x	0.4x
Mon, 04 Dec 2023	HK$115.4b	HK$318.6b	HK$11.3b	5.1x	10.3x	0.4x
Wed, 01 Nov 2023	HK$116.0b	HK$311.6b	HK$11.0b	5.3x	10.6x	0.4x
Fri, 29 Sep 2023	HK$119.2b	HK$298.5b	HK$9.1b	5.7x	13.2x	0.4x
Sun, 27 Aug 2023	HK$123.7b	HK$306.1b	HK$10.8b	5.6x	11.4x	0.4x
Tue, 25 Jul 2023	HK$130.7b	HK$311.1b	HK$13.0b	5x	10x	0.4x


HK Market	0.25%
Materials	-0.63%
Chemicals	-1.58%
Industrial Gases	28.09%
Diversified Chemicals	4.19%
Fertilizers and Agricultural Chemicals	-0.13%
Commodity Chemicals	-2.42%
Specialty Chemicals	-3.98%

Company	Last Price	7D	1Y	Valuation
301 SANVO Fine Chemicals Group	HK$6.11	18.4% +HK$446.9m	359.4%	PS2.3x
546 Fufeng Group	HK$4.94	3.3% +HK$401.2m	-28.6%	PE4.3x
1940 China Gas Industry Investment Holdings	HK$1.14	28.1% +HK$300.0m	128.0%	PE7.6x
2198 China Sanjiang Fine Chemicals	HK$2.99	8.7% +HK$283.8m	69.9%	PE7.5x
3983 China BlueChemical	HK$2.08	2.0% +HK$184.4m	0%	PE8.5x

Announcement • May 27

Sichuan Dingxiang Equity Investment Fund Management Co., Ltd., Yanran (Hainan) Investment Management Partnership (Limited Partnership), Hainan Zhongfang Energy Co., Ltd and Morewisdom (Shanghai) Private Equity Fund Management Co., Ltd. cancelled the acquisition of an additional 25% stake in China Gas Industry Investment Holdings Co. Ltd. (SEHK:1940).

Sichuan Dingxiang Equity Investment Fund Management Co., Ltd., Yanran (Hainan) Investment Management Partnership (Limited Partnership), Hainan Zhongfang Energy Co., Ltd and Morewisdom (Shanghai) Private Equity Fund Management Co., Ltd. proposed to acquire an additional 25% stake in China Gas Industry Investment Holdings Co. Ltd. (SEHK:1940) for approximately HKD 190 million on March 13, 2026. A cash consideration valued at HKD 0.626 per share and of HKD 118 million will be paid by Sichuan Dingxiang Equity Investment Fund Management Co., Ltd., Yanran (Hainan) Investment Management Partnership (Limited Partnership), Hainan Zhongfang Energy Co., Ltd and Morewisdom (Shanghai) Private Equity Fund Management Co., Ltd. As part of consideration, an HKD 187.8 million is paid towards common equity and HKD 118 million is paid towards Loans of China Gas Industry Investment Holdings Co. Ltd. The transaction will be financed through its internal resources and external margin loan in the principal amount of not more than HKD 195 million provided by First Shanghai. The Offeror intends to maintain the listing of the Shares on the Main Board of the Stock Exchange after the close of the Offer. Huitang Zhihe (Hong Kong) Co., Limited has undertaken not to accept the Offer in respect of the 431.904 million Non-acceptance Shares held by it, a total of 300 million Shares will be subject to the Offer. Assuming the Offer is accepted in full, the maximum cash consideration payable by the Offeror under the Offer will be HKD 187.8 million. It is expected that the Offeror will require certain of the Directors to resign from the Board and the Offeror will nominate new Directors to the Board at the earliest time as permitted under the Takeovers Code. It is proposed that LI Jun, SONG Jiajun and CHEN Tianyi will be appointed as Directors following the despatch of the Composite Document or the close of the Offer. The transaction is subject to minimum tender, obtaining approvals from the Stock Exchange, the SFC and other relevant regulatory authorities, including obtaining approval from the independent Shareholders of the Company. The Board of Directors of China Gas Industry Investment Holdings Co. Ltd. formed a special committee for the transaction. The tendering period will commence on May 4, 2026 and will close on May 26, 2026 and can be extended if assuming the Offer becomes, or is declared, unconditional . CMB International Capital Limited acted as financial advisor for Yanran Investment Management Partnership, Sichuan Dingxiang Equity Investment Fund Management Co., Ltd., Morewisdom Private Equity Fund Management Co., Ltd., Hainan Zhongfang Energy Co. and Ltd. CEB International Capital Corporation Limited acted as financial advisor for Yanran Investment Management Partnership, Sichuan Dingxiang Equity Investment Fund Management Co., Ltd., Morewisdom Private Equity Fund Management Co., Ltd., Hainan Zhongfang Energy Co. and Ltd. First Shanghai Securities Limited acted as financial advisor for Yanran Investment Management Partnership, Sichuan Dingxiang Equity Investment Fund Management Co., Ltd., Morewisdom Private Equity Fund Management Co., Ltd., Hainan Zhongfang Energy Co. and Ltd. Nuada Limited acted as fairness opinion provider for China Gas Industry Investment Holdings Co. Ltd. Sichuan Dingxiang Equity Investment Fund Management Co., Ltd., Yanran (Hainan) Investment Management Partnership (Limited Partnership), Hainan Zhongfang Energy Co., Ltd and Morewisdom (Shanghai) Private Equity Fund Management Co., Ltd. cancelled the acquisition of an additional 25% stake in China Gas Industry Investment Holdings Co. Ltd. (SEHK:1940) on May 26, 2026.

Hong Kong (HSI) Chemicals Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

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