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Hong Kong (HSI) Tech Sector Analysis

UpdatedDec 21, 2025
DataAggregated Company Financials
Companies216
  • 7D-3.9%
  • 3M-18.5%
  • 1Y40.0%
  • YTD37.3%

Over the last 7 days, the Tech industry has dropped 3.9%, driven by Xiaomi declining 5.6%. In contrast, Shanghai Fudan Microelectronics Group has gained 11%. In the past year, the industry has gained 40%. Earnings are forecast to grow by 29% annually.

Sector Valuation and Performance

Has the Hong Kong Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 21 Dec 2025HK$3.4tHK$2.9tHK$77.0b15.8x43.5x1.2x
Tue, 18 Nov 2025HK$3.5tHK$2.8tHK$67.0b17.1x52.4x1.2x
Thu, 16 Oct 2025HK$3.9tHK$2.8tHK$66.7b18x58.4x1.4x
Sat, 13 Sep 2025HK$3.9tHK$2.8tHK$67.3b19x57.3x1.4x
Mon, 11 Aug 2025HK$3.4tHK$2.7tHK$53.9b19x62.5x1.2x
Wed, 09 Jul 2025HK$3.4tHK$2.7tHK$55.3b16.4x60.9x1.2x
Fri, 06 Jun 2025HK$3.1tHK$2.7tHK$52.5b13.5x59.7x1.2x
Sun, 04 May 2025HK$3.1tHK$2.6tHK$44.9b13.4x70x1.2x
Tue, 01 Apr 2025HK$3.1tHK$2.6tHK$42.4b14.1x72.2x1.2x
Thu, 27 Feb 2025HK$3.5tHK$2.5tHK$38.2b13.3x90.3x1.4x
Sat, 25 Jan 2025HK$2.6tHK$2.4tHK$35.7b12.4x72.7x1.1x
Mon, 23 Dec 2024HK$2.3tHK$2.4tHK$37.2b11.3x62.2x1x
Wed, 20 Nov 2024HK$2.2tHK$2.4tHK$37.5b11.9x57.9x0.9x
Fri, 18 Oct 2024HK$1.9tHK$2.4tHK$33.7b11x57.6x0.8x
Sun, 15 Sep 2024HK$1.5tHK$2.4tHK$34.3b10.2x45.1x0.6x
Tue, 13 Aug 2024HK$1.5tHK$2.3tHK$43.3b11.5x35.5x0.7x
Thu, 11 Jul 2024HK$1.6tHK$2.3tHK$44.7b11.5x36.7x0.7x
Sat, 08 Jun 2024HK$1.7tHK$2.3tHK$42.2b12.2x39.8x0.7x
Mon, 06 May 2024HK$1.6tHK$2.2tHK$43.1b11.9x37.9x0.7x
Wed, 03 Apr 2024HK$1.5tHK$2.3tHK$44.7b11x34.7x0.7x
Fri, 01 Mar 2024HK$1.4tHK$2.3tHK$63.9b9.1x22.3x0.6x
Sun, 28 Jan 2024HK$1.4tHK$2.3tHK$66.3b9.5x21.3x0.6x
Tue, 26 Dec 2023HK$1.6tHK$2.3tHK$66.4b9.8x23.9x0.7x
Thu, 23 Nov 2023HK$1.6tHK$2.3tHK$72.7b11.5x22.2x0.7x
Sat, 21 Oct 2023HK$1.5tHK$2.3tHK$70.9b10.1x21.4x0.7x
Mon, 18 Sep 2023HK$1.6tHK$2.3tHK$70.9b10.8x22.2x0.7x
Wed, 16 Aug 2023HK$1.5tHK$2.4tHK$78.7b10.5x19.3x0.6x
Fri, 14 Jul 2023HK$1.6tHK$2.4tHK$82.2b10.1x19.5x0.7x
Sun, 11 Jun 2023HK$1.6tHK$2.4tHK$83.0b8.7x18.9x0.7x
Tue, 09 May 2023HK$1.7tHK$2.5tHK$81.4b9.4x20.3x0.7x
Thu, 06 Apr 2023HK$1.8tHK$2.5tHK$81.6b10.4x21.8x0.7x
Sat, 04 Mar 2023HK$1.8tHK$2.5tHK$74.4b9x24.4x0.7x
Mon, 30 Jan 2023HK$1.9tHK$2.6tHK$76.4b8.6x25.1x0.7x
Wed, 28 Dec 2022HK$1.6tHK$2.5tHK$76.4b8.2x21.6x0.6x
Price to Earnings Ratio

21.6x


Total Market Cap: HK$1.6tTotal Earnings: HK$76.4bTotal Revenue: HK$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Tech Sector Price to Earnings3Y Average 41.9x202320242025
Current Industry PE
  • Investors are relatively neutral on the Hong Kong Information Technology industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 41.9x.
  • The 3-year average PS ratio of 0.88x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 4.4% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the Hong Kong Tech sector?

HK Market-1.02%
Tech-3.94%
Communications0.98%
IT-2.81%
Electronic Equipment and Components-3.26%
Software-3.43%
Semiconductors-3.52%
Tech Hardware-5.44%
Industry PE
  • Investors are most optimistic about the IT industry, which is trading close to its 3-year average PE ratio of 40.1x.
    • Analysts are expecting annual earnings growth of 32.7%, which is higher than its past year's earnings growth of 4.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Software industry, expecting annual earnings growth of 49% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 15% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
1385 Shanghai Fudan Microelectronics GroupHK$45.0610.9%
+HK$3.6b		190.0%PE70.4x
6869 Yangtze Optical Fibre And Cable LimitedHK$51.759.4%
+HK$3.3b		356.3%PE61.5x
268 Kingdee International Software GroupHK$13.733.9%
+HK$1.8b		52.0%PS6.7x
9660 Horizon RoboticsHK$9.121.2%
+HK$1.6b		173.9%PE54.7x
2658 Guangdong Tianyu SemiconductorHK$47.805.2%
+HK$936.0m		n/aPS32.7x

Latest News

2658
HK$47.80
Guangdong Tianyu Semiconductor
7D
5.2%
1Y
n/a
6869
HK$51.75
Yangtze Optical Fibre And Cable Limited
7D
9.4%
1Y
356.3%
981
HK$65.05
Semiconductor Manufacturing International
7D
-3.9%
1Y
129.9%

981: Rising Margins And Multiple Contraction Will Likely Leave Shares Overpriced

Analysts have raised their price target for Semiconductor Manufacturing International to approximately $25 per share from about $22, citing expectations for faster revenue growth, a meaningful improvement in profit margins, and a more moderate future price to earnings multiple. What's in the News Issued earnings guidance for the fourth quarter of 2025, expecting revenue to be flat to up 2% quarter over quarter, signaling cautious but positive near term growth expectations (company guidance) Scheduled a board meeting for November 13, 2025 to review and approve unaudited financial results for the quarter ended September 30, 2025, setting the stage for updated disclosure on recent performance (company announcement) Valuation Changes Fair Value has risen moderately, increasing from HK$21.89 to approximately HK$25.04 per share.
2382
HK$65.00
Sunny Optical Technology (Group)
7D
-3.6%
1Y
-9.3%

2382: Modestly Stronger Margins May Support Future Share Price Upside

Analysts have raised their price target for Sunny Optical Technology (Group) slightly, to approximately HK$136 from about HK$133, citing modestly stronger expectations for revenue growth and profit margins, despite a marginally higher discount rate and slightly lower future P/E assumptions. Valuation Changes Fair Value: Raised slightly from around HK$133.17 to approximately HK$136.44, reflecting a modest uplift in the intrinsic value estimate.
268
HK$13.73
Kingdee International Software Group
7D
3.9%
1Y
52.0%

268: Rising Margins Will Drive Stronger Profitability Over The Next Year

Narrative Update Analysts have trimmed their fair value estimate for Kingdee International Software Group slightly, reducing the implied price target from about $18.96 to $18.92. This reflects modestly higher discount rate assumptions and a marginally lower revenue growth outlook, which more than offset a small improvement in projected profit margins and a slightly cheaper future P/E multiple.
1347
HK$67.75
Hua Hong Semiconductor
7D
-5.8%
1Y
215.9%

1347: Future AI Demand Will Support Returns Amid Persistent Margin Pressures

Analysts have raised their price target on Hua Hong Semiconductor by roughly HK$2. This reflects a modestly higher fair value estimate as they factor in stronger revenue growth prospects driven by expanding opportunities in artificial intelligence applications, even as profit margin expectations edge slightly lower.
3800
HK$1.09
GCL Technology Holdings
7D
1.9%
1Y
-0.9%

What You Can Learn From GCL Technology Holdings Limited's (HKG:3800) P/S After Its 26% Share Price Crash

Dec 11
What You Can Learn From GCL Technology Holdings Limited's (HKG:3800) P/S After Its 26% Share Price Crash
992
HK$9.28
Lenovo Group
7D
-4.3%
1Y
-2.0%
9660
HK$9.12
Horizon Robotics
7D
1.2%
1Y
173.9%
1810
HK$40.54
Xiaomi
7D
-5.6%
1Y
28.1%

1810: Premium Auto Customization Will Drive Future Upside In High End Segment

Analysts have nudged their consolidated price target on Xiaomi slightly lower by about $3 to approximately $40 per share, reflecting expectations for slower internet of things growth and some margin pressure from higher component costs, partially offset by optimism around the company’s positioning in China’s electric vehicle and electronics markets. Analyst Commentary Recent Street commentary highlights a balanced mix of enthusiasm and caution around Xiaomi, with valuation underpinned by its growing presence in electric vehicles and core electronics, but tempered by near term profitability risks.
1385
HK$45.06
Shanghai Fudan Microelectronics Group
7D
10.9%
1Y
190.0%
8148
HK$3.08
Wuxi Life International Holdings Group
7D
29.4%
1Y
285.0%
285
HK$32.88
BYD Electronic (International)
7D
-4.0%
1Y
-16.0%

BYD Electronic (International) Company Limited's (HKG:285) Earnings Haven't Escaped The Attention Of Investors

Nov 24
BYD Electronic (International) Company Limited's (HKG:285) Earnings Haven't Escaped The Attention Of Investors
6687
HK$30.00
JST Group
7D
3.4%
1Y
n/a
2577
HK$71.10
InnoScience (Suzhou) Technology Holding
7D
-12.0%
1Y
n/a
20
HK$1.88
SenseTime Group
7D
-14.9%
1Y
25.3%