Be Wary Of China Sanjiang Fine Chemicals (HKG:2198) And Its Returns On Capital
Jan 09
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Hong Kong (HSI) Chemicals Industry Analysis
UpdatedJan 13, 2026
DataAggregated Company Financials
Companies38
- 7D3.7%
- 3M6.2%
- 1Y43.0%
- YTD1.8%
In the last week, the Chemicals industry is up 3.7%, with Fufeng Group leading the way, up 4.4%. In the same time, Sinofert Holdings was down 6.2%. In the last 12 months, the industry was up 43%. Earnings are forecast to grow by 45% annually.
Industry Valuation and Performance
Has the Hong Kong Chemicals Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 13 Jan 2026 | HK$171.3b | HK$323.2b | HK$10.7b | 8.6x | 16.1x | 0.5x |
| Thu, 11 Dec 2025 | HK$163.4b | HK$318.6b | HK$10.5b | 8.7x | 15.5x | 0.5x |
| Sat, 08 Nov 2025 | HK$160.1b | HK$315.7b | HK$10.4b | 9.7x | 15.4x | 0.5x |
| Mon, 06 Oct 2025 | HK$160.2b | HK$319.2b | HK$10.4b | 8.8x | 15.4x | 0.5x |
| Wed, 03 Sep 2025 | HK$161.7b | HK$319.1b | HK$10.4b | 7.8x | 15.6x | 0.5x |
| Fri, 01 Aug 2025 | HK$151.8b | HK$327.3b | HK$8.9b | 9.7x | 17.1x | 0.5x |
| Sun, 29 Jun 2025 | HK$141.5b | HK$328.4b | HK$8.9b | 9.4x | 15.9x | 0.4x |
| Tue, 27 May 2025 | HK$132.4b | HK$326.4b | HK$8.7b | 9.5x | 15.3x | 0.4x |
| Thu, 24 Apr 2025 | HK$130.8b | HK$320.8b | HK$8.7b | 9.2x | 15.1x | 0.4x |
| Sat, 22 Mar 2025 | HK$134.2b | HK$326.3b | HK$9.2b | 9.4x | 14.6x | 0.4x |
| Mon, 17 Feb 2025 | HK$128.3b | HK$329.4b | HK$8.6b | 10x | 15x | 0.4x |
| Wed, 15 Jan 2025 | HK$125.2b | HK$326.2b | HK$8.5b | 9.5x | 14.8x | 0.4x |
| Fri, 13 Dec 2024 | HK$129.9b | HK$328.5b | HK$8.5b | 9x | 15.2x | 0.4x |
| Sun, 10 Nov 2024 | HK$130.1b | HK$331.8b | HK$8.3b | 9.7x | 15.6x | 0.4x |
| Tue, 08 Oct 2024 | HK$144.4b | HK$341.4b | HK$8.8b | 9.3x | 16.4x | 0.4x |
| Thu, 05 Sep 2024 | HK$116.8b | HK$338.0b | HK$8.6b | 9.3x | 13.7x | 0.3x |
| Sat, 03 Aug 2024 | HK$120.3b | HK$324.8b | HK$10.2b | 9.9x | 11.8x | 0.4x |
| Mon, 01 Jul 2024 | HK$126.2b | HK$322.1b | HK$9.9b | 9.2x | 12.7x | 0.4x |
| Wed, 29 May 2024 | HK$135.5b | HK$321.3b | HK$10.1b | 10.6x | 13.5x | 0.4x |
| Fri, 26 Apr 2024 | HK$124.4b | HK$321.7b | HK$10.1b | 10.2x | 12.4x | 0.4x |
| Sun, 24 Mar 2024 | HK$118.5b | HK$322.3b | HK$11.8b | 6.1x | 10x | 0.4x |
| Tue, 20 Feb 2024 | HK$112.8b | HK$315.3b | HK$10.8b | 5.8x | 10.4x | 0.4x |
| Thu, 18 Jan 2024 | HK$111.8b | HK$318.9b | HK$11.3b | 5.5x | 9.9x | 0.4x |
| Sat, 16 Dec 2023 | HK$114.1b | HK$319.6b | HK$11.3b | 5.1x | 10.1x | 0.4x |
| Mon, 13 Nov 2023 | HK$114.4b | HK$312.2b | HK$11.0b | 5.1x | 10.4x | 0.4x |
| Wed, 11 Oct 2023 | HK$117.4b | HK$298.2b | HK$9.0b | 5.4x | 13x | 0.4x |
| Fri, 08 Sep 2023 | HK$122.1b | HK$301.1b | HK$10.6b | 5.7x | 11.6x | 0.4x |
| Sun, 06 Aug 2023 | HK$131.7b | HK$310.6b | HK$12.3b | 5.3x | 10.7x | 0.4x |
| Tue, 04 Jul 2023 | HK$126.7b | HK$309.6b | HK$13.0b | 4.9x | 9.8x | 0.4x |
| Thu, 01 Jun 2023 | HK$131.5b | HK$315.2b | HK$13.2b | 5.2x | 10x | 0.4x |
| Sat, 29 Apr 2023 | HK$144.8b | HK$323.5b | HK$13.5b | 5.2x | 10.7x | 0.4x |
| Mon, 27 Mar 2023 | HK$145.7b | HK$327.0b | HK$13.4b | 5.3x | 10.9x | 0.4x |
| Wed, 22 Feb 2023 | HK$153.2b | HK$343.6b | HK$15.8b | 5.5x | 9.7x | 0.4x |
| Fri, 20 Jan 2023 | HK$154.7b | HK$347.3b | HK$15.9b | 5.2x | 9.7x | 0.4x |
Price to Earnings Ratio
9.7x
Current Industry PE
- 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 16.1x which is higher than its 3-year average PE of 13.0x.
- The industry is trading close to its 3-year average PS ratio of 0.41x.
Past Earnings Growth
- The earnings for companies in the Chemicals industry have declined 13% per year over the last three years,
- Revenues have also declined 2.4% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Hong Kong Materials industry?
| HK Market | 1.52% | |
| Materials | 6.29% | |
| Chemicals | 3.74% | |
| Industrial Gases | 8.89% | |
| Diversified Chemicals | 5.21% | |
| Specialty Chemicals | 4.92% | |
| Commodity Chemicals | 4.53% | |
| Fertilizers and Agricultural Chemicals | 0.68% | |
Industry PE
- Investors are most optimistic about the Specialty Chemicals industry which is trading above its 3-year average PE ratio of 26.3x.
- Analysts are expecting annual earnings growth of 32.2%, which is higher than its past year's earnings growth of 15.9% per year.
- Investors are most pessimistic about the Diversified Chemicals industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 4.8x.
Forecasted Growth
- Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 100% over the next 5 years.
- This is better than its past earnings growth rate of 23% per year.
- In contrast, the Diversified Chemicals industry is expected to see its earnings grow by 3.8% 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 | |
|---|---|---|---|---|---|
| 546 Fufeng Group | HK$8.37 | 4.4% +HK$877.5m | 60.0% | PE6.1x | |
| 336 Huabao International Holdings | HK$4.39 | 6.6% +HK$872.1m | 112.1% | PS3.7x | |
| 746 Lee & Man Chemical | HK$5.47 | 5.4% +HK$231.0m | 44.7% | PE7.9x | |
| 338 Sinopec Shanghai Petrochemical | HK$1.43 | 1.4% +HK$210.9m | 24.3% | PS0.2x | |
| 1907 China Risun Group | HK$2.28 | 1.8% +HK$171.0m | -16.2% | PS0.2x |
