Hong Kong (HSI) Chemicals Industry Analysis

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, 28 Jul 2026	HK$155.4b	HK$325.8b	HK$7.6b	10.7x	20.6x	0.5x
Thu, 25 Jun 2026	HK$190.8b	HK$323.2b	HK$7.2b	12.4x	26.5x	0.6x
Sat, 23 May 2026	HK$169.9b	HK$323.0b	HK$7.4b	12x	22.9x	0.5x
Mon, 20 Apr 2026	HK$177.1b	HK$324.0b	HK$6.8b	10.9x	25.9x	0.5x
Wed, 18 Mar 2026	HK$189.0b	HK$328.6b	HK$10.8b	10.2x	17.4x	0.6x
Fri, 13 Feb 2026	HK$188.9b	HK$327.3b	HK$10.8b	9.9x	17.5x	0.6x
Sun, 11 Jan 2026	HK$172.2b	HK$322.9b	HK$10.7b	8.7x	16.2x	0.5x
Tue, 09 Dec 2025	HK$166.6b	HK$318.3b	HK$10.5b	8.9x	15.9x	0.5x
Thu, 06 Nov 2025	HK$154.6b	HK$315.3b	HK$10.4b	9.2x	14.9x	0.5x
Sat, 04 Oct 2025	HK$160.2b	HK$319.2b	HK$10.4b	8.8x	15.4x	0.5x
Mon, 01 Sep 2025	HK$164.1b	HK$319.3b	HK$10.4b	8.1x	15.8x	0.5x
Wed, 30 Jul 2025	HK$155.4b	HK$328.2b	HK$8.9b	9.7x	17.5x	0.5x
Fri, 27 Jun 2025	HK$140.5b	HK$328.4b	HK$8.8b	9.3x	16x	0.4x
Sun, 25 May 2025	HK$131.9b	HK$326.5b	HK$8.7b	9.5x	15.2x	0.4x
Tue, 22 Apr 2025	HK$128.3b	HK$320.8b	HK$8.7b	8.8x	14.8x	0.4x
Thu, 20 Mar 2025	HK$136.6b	HK$329.0b	HK$8.2b	9.3x	16.6x	0.4x
Sat, 15 Feb 2025	HK$128.2b	HK$329.1b	HK$8.6b	10x	15x	0.4x
Mon, 13 Jan 2025	HK$123.2b	HK$326.2b	HK$8.5b	9.2x	14.5x	0.4x
Wed, 11 Dec 2024	HK$129.0b	HK$329.1b	HK$8.5b	9.3x	15.1x	0.4x
Fri, 08 Nov 2024	HK$130.5b	HK$332.5b	HK$8.3b	9.7x	15.7x	0.4x
Sun, 06 Oct 2024	HK$139.6b	HK$339.7b	HK$8.7b	9.2x	16x	0.4x
Tue, 03 Sep 2024	HK$117.9b	HK$338.2b	HK$8.6b	9.7x	13.8x	0.3x
Thu, 01 Aug 2024	HK$121.6b	HK$324.2b	HK$10.0b	9.8x	12.1x	0.4x
Sat, 29 Jun 2024	HK$126.2b	HK$322.3b	HK$10.0b	9.2x	12.7x	0.4x
Mon, 27 May 2024	HK$133.1b	HK$321.4b	HK$10.1b	10.2x	13.2x	0.4x
Wed, 24 Apr 2024	HK$120.6b	HK$323.1b	HK$10.1b	9.2x	11.9x	0.4x
Fri, 22 Mar 2024	HK$117.0b	HK$319.1b	HK$11.3b	6.4x	10.4x	0.4x
Sun, 18 Feb 2024	HK$112.1b	HK$315.5b	HK$10.9b	5.7x	10.3x	0.4x
Tue, 16 Jan 2024	HK$116.3b	HK$319.7b	HK$11.3b	5.5x	10.3x	0.4x
Thu, 14 Dec 2023	HK$112.8b	HK$316.9b	HK$11.2b	5.2x	10.1x	0.4x
Sat, 11 Nov 2023	HK$114.4b	HK$312.1b	HK$11.0b	5.1x	10.4x	0.4x
Mon, 09 Oct 2023	HK$118.2b	HK$298.5b	HK$9.1b	5.4x	13.1x	0.4x
Wed, 06 Sep 2023	HK$124.8b	HK$302.1b	HK$10.6b	5.7x	11.8x	0.4x
Fri, 04 Aug 2023	HK$130.9b	HK$310.3b	HK$12.3b	5.2x	10.7x	0.4x

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 20.6x which is higher than its 3-year average PE of 15.1x.

The industry is trading close to its 3-year average PS ratio of 0.44x.

Past Earnings Growth

The earnings for companies in the Chemicals industry have declined 15% 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 Materials industry?


HK Market	0.77%
Materials	8.49%
Chemicals	1.41%
Commodity Chemicals	2.61%
Fertilizers and Agricultural Chemicals	2.50%
Specialty Chemicals	0.074%
Diversified Chemicals	-0.50%
Industrial Gases	-2.65%

Industry PE

Investors are most optimistic about the Commodity Chemicals industry which is trading above its 3-year average PE ratio of 30.4x.

Analysts are expecting annual earnings growth of 94.2%, which is higher than its past year's earnings growth of 12.2% per year.

Forecasted Growth

Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 94% over the next 5 years.
This is better than its past earnings growth rate of 12% per year.

In contrast, the Diversified Chemicals industry is expected to see its earnings grow by 9.5% 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
9879 Migao Group Holdings	HK$9.49	5.7% +HK$463.6m	56.9%	PE19.9x
338 Sinopec Shanghai Petrochemical	HK$1.13	2.7% +HK$316.3m	-20.4%	PS0.1x
1986 Tsaker New Energy Tech	HK$0.97	21.3% +HK$164.5m	22.8%	PS0.4x
336 Huabao International Holdings	HK$2.95	1.7% +HK$161.4m	-19.8%	PS2.4x
408 Yip's Chemical Holdings	HK$2.49	2.9% +HK$39.1m	48.2%	PE10.1x

Company

Last Price

Valuation

9879 Migao Group Holdings

HK$9.49

5.7%
+HK$463.6m

56.9%

PE19.9x

338 Sinopec Shanghai Petrochemical

HK$1.13

2.7%
+HK$316.3m

-20.4%

PS0.1x

1986 Tsaker New Energy Tech

HK$0.97

21.3%
+HK$164.5m

22.8%

PS0.4x

336 Huabao International Holdings

HK$2.95

1.7%
+HK$161.4m

-19.8%

PS2.4x

408 Yip's Chemical Holdings

HK$2.49

2.9%
+HK$39.1m

48.2%

PE10.1x

China XLX Fertiliser Ltd. Announces Board and Committee Changes, Effective July 22, 2026

China XLX Fertiliser Ltd. had resolved that, having considered the views of The Stock Exchange of Hong Kong Limited regarding the independence of Mr. Tan Wei Shyan, and in view of exercising prudent compliance and ensuring continuous compliance with the requirements relating to directors’ independence under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, Mr. Tan Wei Shyan was re-designated from an independent non-executive Director to a non-executive Director with effect from July 22, 2026. The Board considered that the re-designation reflected the employment background of Mr. Tan and the actual circumstances more appropriately and avoided any concerns raised regarding his independence. The re-designation did not affect Mr. Tan’s continuous contribution to the Board by virtue of his professional expertise and experience. Mr. Tan had been serving as an independent non-executive director of the Company, a member of the audit committee and the nomination committee of the Board, as well as the chairman of the remuneration committee of the Board since June 23, 2026. From the effective date of the re-designation, Mr. Tan served as a non-executive director of the Company. Mr. Tan Wei Shyan, aged 48, is a director in the corporate & finance practice group of Drew & Napier LLC, a Singapore-based law firm, where he has been practising since July 2026. Mr. Tan was previously a partner in the Corporate Finance practice group at Shook Lin & Bok LLP, another Singapore-based law firm for over 20 years. He has extensive experience in corporate finance, capital markets, mergers and acquisitions and corporate regulatory compliance. Mr. Tan obtained a Bachelor of Laws (First Class) degree from the University of Exeter in the United Kingdom. He is a solicitor of the Supreme Court of Singapore. Mr. Tan has served as an independent director, chairman of the remuneration committee, members of the audit committee and the nominating committee of JEP Holdings Ltd. since April 2024. He has also been appointed as an independent director, chairman of the remuneration committee, members of the audit committee and the nominating committee of Anchun International Holdings Ltd. in April 2024. He has been appointed as an independent director, chairman of the nominating committee, members of the audit committee and the remuneration committee of HGH Holdings Ltd. since May 2026. Save for the change in director category from independent non-executive director to non-executive director, the term of appointment of Mr. Tan remained unchanged. Mr. Tan entered into a letter of appointment with the Company for an initial fixed term of three years. He shall hold office until the next annual general meeting following his appointment and shall then be eligible for re-election at that meeting. Thereafter, his appointment shall be subject to retirement by rotation and re-election at annual general meetings of the Company in accordance with the articles of association of the Company and the Listing Rules. Following the effective date of the re-designation, Mr. Tan ceased to be the chairman of the Remuneration Committee and a member of the Nomination Committee, but remained as a member of the Audit Committee and the Remuneration Committee. The Board further announced that Mr. Li Hongxing, an existing independent non-executive Director, was appointed as the chairman of the Remuneration Committee with effect from July 22, 2026.

Hong Kong (HSI) Chemicals Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Tsaker New Energy Tech Co., Limited Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2026

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Investor sentiment improves as stock rises 16%

China XLX Fertiliser Ltd. Announces Board and Committee Changes, Effective July 22, 2026

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China Risun Group Limited Provides Earnings Guidance for the for the Period from January 1, 2026 to June 30, 2026

Global New Material International Holdings Limited Announces Executive Changes, Effective July 17, 2026

Sinopec Shanghai Petrochemical Company Limited Provides Earnings Guidance for the First Half Ended 30 June 2026

Dongyue Group Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2026

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New minor risk - Share price stability

China Bluechemical Ltd. Approves Annual Final Dividends for the Year Ended 31 December 2025, Payable on on or About 30 June 2026

New minor risk - Dividend sustainability

Less than half of directors are independent

Ko Yo Chemical (Group) Limited, Annual General Meeting, May 28, 2026

Full year 2025 earnings released: CN¥0.04 loss per share (vs CN¥0.017 loss in FY 2024)