Analysis Article • Aug 24
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Hong Kong (HSI) Gold Industry Analysis
UpdatedSep 16, 2026
DataAggregated Company Financials
Companies9
- 7D-4.0%
- 3M25.6%
- 1Y-15.9%
- YTDn/a
Over the last 7 days, the Gold industry has dropped 4.0%, driven by Zijin Gold International declining 2.6%. Overall the industry is down 16% in 12 months. As for the next few years, earnings are expected to grow by 15% per annum.
Industry Valuation and Performance
Has the Hong Kong Gold Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 17 Sep 2026 | HK$541.0b | HK$104.5b | HK$28.4b | 13.9x | 19x | 5.2x |
| Sat, 15 Aug 2026 | HK$472.7b | HK$96.2b | HK$25.7b | 16.4x | 18.4x | 4.9x |
| Mon, 13 Jul 2026 | HK$366.0b | HK$95.9b | HK$25.7b | 11.9x | 14.3x | 3.8x |
| Wed, 10 Jun 2026 | HK$394.4b | HK$95.4b | HK$25.3b | 12.5x | 15.6x | 4.1x |
| Fri, 08 May 2026 | HK$589.1b | HK$95.2b | HK$25.3b | 19.8x | 23.3x | 6.2x |
| Sun, 05 Apr 2026 | HK$649.4b | HK$83.8b | HK$19.8b | 20.4x | 32.8x | 7.7x |
| Tue, 03 Mar 2026 | HK$815.6b | HK$68.9b | HK$11.1b | 34.7x | 73.3x | 11.8x |
| Thu, 29 Jan 2026 | HK$890.7b | HK$68.3b | HK$11.0b | 36.2x | 80.7x | 13x |
| Sat, 27 Dec 2025 | HK$578.5b | HK$67.7b | HK$11.0b | 27.3x | 52.8x | 8.5x |
| Mon, 24 Nov 2025 | HK$499.0b | HK$67.0b | HK$10.9b | 28.1x | 45.8x | 7.4x |
| Wed, 22 Oct 2025 | HK$513.3b | HK$66.3b | HK$10.8b | 27.2x | 47.4x | 7.7x |
| Fri, 19 Sep 2025 | HK$852.4b | HK$387.7b | HK$48.4b | 18.6x | 17.6x | 2.2x |
| Sun, 17 Aug 2025 | HK$728.5b | HK$366.1b | HK$42.1b | 21.5x | 17.3x | 2x |
| Tue, 15 Jul 2025 | HK$654.3b | HK$367.9b | HK$42.4b | 22.6x | 15.4x | 1.8x |
| Thu, 12 Jun 2025 | HK$638.6b | HK$367.0b | HK$42.2b | 37.2x | 15.1x | 1.7x |
| Sat, 10 May 2025 | HK$582.1b | HK$361.0b | HK$41.5b | 21.4x | 14x | 1.6x |
| Mon, 07 Apr 2025 | HK$545.4b | HK$353.2b | HK$36.9b | 15.6x | 14.8x | 1.5x |
| Wed, 05 Mar 2025 | HK$499.2b | HK$344.0b | HK$33.3b | 16.2x | 15x | 1.5x |
| Fri, 31 Jan 2025 | HK$498.2b | HK$345.7b | HK$33.5b | 14.8x | 14.9x | 1.4x |
| Sun, 29 Dec 2024 | HK$465.1b | HK$342.1b | HK$33.1b | 15.7x | 14x | 1.4x |
| Tue, 26 Nov 2024 | HK$480.7b | HK$345.5b | HK$33.4b | 14.3x | 14.4x | 1.4x |
| Thu, 24 Oct 2024 | HK$562.6b | HK$349.7b | HK$33.9b | 14.6x | 16.6x | 1.6x |
| Sat, 21 Sep 2024 | HK$509.6b | HK$348.0b | HK$30.4b | 15.3x | 16.8x | 1.5x |
| Mon, 19 Aug 2024 | HK$502.7b | HK$342.8b | HK$25.3b | 17.6x | 19.9x | 1.5x |
| Wed, 17 Jul 2024 | HK$594.5b | HK$338.5b | HK$25.0b | 20x | 23.8x | 1.8x |
| Fri, 14 Jun 2024 | HK$520.5b | HK$338.9b | HK$25.0b | 18.3x | 20.8x | 1.5x |
| Sun, 12 May 2024 | HK$565.1b | HK$340.2b | HK$25.1b | 23.3x | 22.5x | 1.7x |
| Tue, 09 Apr 2024 | HK$532.3b | HK$340.6b | HK$24.1b | 24.7x | 22.1x | 1.6x |
| Thu, 07 Mar 2024 | HK$435.1b | HK$341.4b | HK$22.1b | 30.5x | 19.7x | 1.3x |
| Sat, 03 Feb 2024 | HK$369.0b | HK$347.2b | HK$19.4b | 25.5x | 19x | 1.1x |
| Mon, 01 Jan 2024 | HK$393.5b | HK$346.9b | HK$19.4b | 30.2x | 20.3x | 1.1x |
| Wed, 29 Nov 2023 | HK$371.7b | HK$343.3b | HK$19.1b | 40.6x | 19.5x | 1.1x |
| Fri, 27 Oct 2023 | HK$373.3b | HK$332.8b | HK$16.6b | 25.4x | 22.5x | 1.1x |
| Sun, 24 Sep 2023 | HK$401.2b | HK$333.7b | HK$16.7b | 22.2x | 24.1x | 1.2x |
Price to Earnings Ratio
24.1x
Current Industry PE
- Investors are pessimistic on the Hong Kong Gold 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 19.0x which is lower than its 3-year average PE of 24.3x.
- The 3-year average PS ratio of 3.3x is lower than the industry's current PS ratio of 5.2x.
Past Earnings Growth
- The earnings for companies in the Gold industry have grown 20% per year over the last three years.
- Meanwhile revenues for these companies have declined 32% per year.
- This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.
Industry Comparison
How does Hong Kong Gold compare with similar industries?
| HK Market | -2.54% | |
| Materials | -6.93% | |
| Metals and Mining | -7.41% | |
| Gold | -4.00% | |
| Steel | -3.83% | |
| Diversified Metals and Mining | -7.35% | |
| Aluminum | -8.80% | |
| Silver | -11.54% | |
| Copper | -13.90% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 3330 Lingbao Gold Group | HK$24.70 | 2.2% +HK$744.1m | 55.4% | PE15.7x | |
| 1182 Success Dragon International Holdings | HK$0.70 | 0.7% +HK$1.7m | 62.8% | PE3.3x |