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 15, 2026
DataAggregated Company Financials
Companies38
- 7D-0.6%
- 3M5.6%
- 1Y39.6%
- YTD0.6%
Over the last 7 days, the Chemicals industry has remained flat, although notably Sinopec Shanghai Petrochemical gained 3.5%. The past year has been better, since the industry has gained 40% in that time. Looking forward, 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 |
|---|---|---|---|---|---|---|
| Thu, 15 Jan 2026 | HK$169.2b | HK$323.2b | HK$10.7b | 8.7x | 15.9x | 0.5x |
| Sat, 13 Dec 2025 | HK$163.8b | HK$319.1b | HK$10.5b | 9x | 15.6x | 0.5x |
| Mon, 10 Nov 2025 | HK$160.1b | HK$315.6b | HK$10.4b | 9.7x | 15.4x | 0.5x |
| Wed, 08 Oct 2025 | HK$162.0b | HK$319.3b | HK$10.4b | 8.6x | 15.6x | 0.5x |
| Fri, 05 Sep 2025 | HK$158.8b | HK$319.0b | HK$10.4b | 8x | 15.3x | 0.5x |
| Sun, 03 Aug 2025 | HK$150.9b | HK$326.6b | HK$8.9b | 9.6x | 17x | 0.5x |
| Tue, 01 Jul 2025 | HK$141.2b | HK$328.7b | HK$8.9b | 9.4x | 15.9x | 0.4x |
| Thu, 29 May 2025 | HK$134.3b | HK$326.3b | HK$8.7b | 9.4x | 15.5x | 0.4x |
| Sat, 26 Apr 2025 | HK$128.7b | HK$318.9b | HK$8.5b | 9.3x | 15.2x | 0.4x |
| Mon, 24 Mar 2025 | HK$134.2b | HK$326.2b | HK$9.2b | 9.6x | 14.5x | 0.4x |
| Wed, 19 Feb 2025 | HK$127.8b | HK$328.1b | HK$8.5b | 9.8x | 15x | 0.4x |
| Fri, 17 Jan 2025 | HK$125.2b | HK$326.3b | HK$8.5b | 9.5x | 14.8x | 0.4x |
| Sun, 15 Dec 2024 | HK$128.0b | HK$328.2b | HK$8.5b | 9.3x | 15x | 0.4x |
| Tue, 12 Nov 2024 | HK$128.3b | HK$330.9b | HK$8.3b | 9.4x | 15.5x | 0.4x |
| Thu, 10 Oct 2024 | HK$131.8b | HK$339.5b | HK$8.7b | 8.9x | 15.1x | 0.4x |
| Sat, 07 Sep 2024 | HK$116.3b | HK$339.3b | HK$8.6b | 8.7x | 13.6x | 0.3x |
| Mon, 05 Aug 2024 | HK$120.7b | HK$326.6b | HK$10.2b | 9.8x | 11.8x | 0.4x |
| Wed, 03 Jul 2024 | HK$128.0b | HK$322.1b | HK$9.9b | 9.5x | 12.9x | 0.4x |
| Fri, 31 May 2024 | HK$134.5b | HK$322.0b | HK$10.1b | 10.4x | 13.3x | 0.4x |
| Sun, 28 Apr 2024 | HK$125.9b | HK$321.7b | HK$10.0b | 10.2x | 12.5x | 0.4x |
| Tue, 26 Mar 2024 | HK$117.4b | HK$322.9b | HK$11.7b | 6.3x | 10x | 0.4x |
| Thu, 22 Feb 2024 | HK$114.6b | HK$315.6b | HK$10.9b | 5.8x | 10.6x | 0.4x |
| Sat, 20 Jan 2024 | HK$111.0b | HK$322.1b | HK$11.4b | 5.6x | 9.7x | 0.3x |
| Mon, 18 Dec 2023 | HK$114.0b | HK$319.0b | HK$11.3b | 5.1x | 10.1x | 0.4x |
| Wed, 15 Nov 2023 | HK$114.4b | HK$312.2b | HK$11.0b | 5.1x | 10.4x | 0.4x |
| Fri, 13 Oct 2023 | HK$117.5b | HK$298.2b | HK$9.0b | 5.5x | 13x | 0.4x |
| Sun, 10 Sep 2023 | HK$121.9b | HK$300.6b | HK$10.5b | 5.7x | 11.6x | 0.4x |
| Tue, 08 Aug 2023 | HK$130.6b | HK$309.6b | HK$12.2b | 5.2x | 10.7x | 0.4x |
| Thu, 06 Jul 2023 | HK$129.0b | HK$309.4b | HK$12.9b | 5x | 10x | 0.4x |
| Sat, 03 Jun 2023 | HK$133.7b | HK$317.1b | HK$13.3b | 5.1x | 10.1x | 0.4x |
| Mon, 01 May 2023 | HK$144.9b | HK$323.6b | HK$13.6b | 5.2x | 10.7x | 0.4x |
| Wed, 29 Mar 2023 | HK$144.6b | HK$326.6b | HK$13.9b | 5.2x | 10.4x | 0.4x |
| Fri, 24 Feb 2023 | HK$152.3b | HK$342.8b | HK$15.7b | 5.4x | 9.7x | 0.4x |
| Sun, 22 Jan 2023 | HK$149.5b | HK$347.2b | HK$15.9b | 5.3x | 9.4x | 0.4x |
Price to Earnings Ratio
9.4x
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 16.0x 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 | 1.63% | |
| Materials | 4.56% | |
| Chemicals | -0.63% | |
| Industrial Gases | 6.74% | |
| Commodity Chemicals | 1.44% | |
| Diversified Chemicals | 0.70% | |
| Fertilizers and Agricultural Chemicals | -0.66% | |
| Specialty Chemicals | -3.36% | |
Industry PE
- Investors are most optimistic about the Specialty Chemicals industry which is trading above its 3-year average PE ratio of 26.4x.
- Analysts are expecting annual earnings growth of 32.1%, 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 | |
|---|---|---|---|---|---|
| 338 Sinopec Shanghai Petrochemical | HK$1.46 | 3.5% +HK$527.1m | 29.2% | PS0.2x | |
| 1866 China XLX Fertiliser | HK$9.34 | 2.1% +HK$271.7m | 134.7% | PE8.9x | |
| 546 Fufeng Group | HK$8.19 | 0.6% +HK$125.4m | 58.1% | PE6x | |
| 336 Huabao International Holdings | HK$4.29 | 0.7% +HK$96.9m | 108.3% | PS3.6x | |
| 1940 China Gas Industry Investment Holdings | HK$0.95 | 6.7% +HK$72.0m | 102.1% | PE6.7x |
