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Hong Kong (HSI) Tech Sector Analysis
UpdatedMar 11, 2026
DataAggregated Company Financials
Companies219
- 7D5.4%
- 3M-2.7%
- 1Y-6.1%
- YTD-1.6%
Over the last 7 days, the Tech industry has dropped 3.4%, driven by Deepexi Technology declining 18%. In contrast, MiniMax Group has gained 49%. The industry has fallen 7.7% in the last year. As for the next few years, earnings are expected to grow by 29% per annum.
Sector Valuation and Performance
Has the Hong Kong Tech Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 11 Mar 2026 | HK$3.6t | HK$3.0t | HK$78.3b | 16.1x | 45.5x | 1.2x |
| Fri, 06 Feb 2026 | HK$3.4t | HK$2.9t | HK$76.4b | 16.3x | 45.1x | 1.2x |
| Sun, 04 Jan 2026 | HK$3.6t | HK$2.9t | HK$77.4b | 15.9x | 46.9x | 1.2x |
| Tue, 02 Dec 2025 | HK$3.4t | HK$2.9t | HK$77.4b | 16.1x | 43.6x | 1.2x |
| Thu, 30 Oct 2025 | HK$3.8t | HK$2.8t | HK$67.4b | 17.8x | 56.9x | 1.3x |
| Sat, 27 Sep 2025 | HK$4.0t | HK$2.8t | HK$67.2b | 18.3x | 59.3x | 1.4x |
| Mon, 25 Aug 2025 | HK$3.6t | HK$2.8t | HK$69.0b | 20.9x | 52.3x | 1.3x |
| Wed, 23 Jul 2025 | HK$3.4t | HK$2.7t | HK$55.3b | 16.4x | 62x | 1.3x |
| Fri, 20 Jun 2025 | HK$3.1t | HK$2.7t | HK$52.5b | 13.7x | 58.2x | 1.1x |
| Sun, 18 May 2025 | HK$3.1t | HK$2.6t | HK$46.1b | 13.8x | 66.4x | 1.2x |
| Tue, 15 Apr 2025 | HK$2.8t | HK$2.6t | HK$45.5b | 13.1x | 62.2x | 1.1x |
| Thu, 13 Mar 2025 | HK$3.2t | HK$2.4t | HK$35.7b | 13x | 90.5x | 1.3x |
| Sat, 08 Feb 2025 | HK$2.9t | HK$2.4t | HK$35.9b | 12.9x | 81.1x | 1.2x |
| Mon, 06 Jan 2025 | HK$2.4t | HK$2.4t | HK$35.5b | 11.3x | 68.1x | 1x |
| Wed, 04 Dec 2024 | HK$2.2t | HK$2.4t | HK$37.2b | 11.1x | 59.7x | 0.9x |
| Fri, 01 Nov 2024 | HK$2.1t | HK$2.4t | HK$32.6b | 12.4x | 65x | 0.9x |
| Sun, 29 Sep 2024 | HK$1.8t | HK$2.4t | HK$34.3b | 10.6x | 52.8x | 0.7x |
| Tue, 27 Aug 2024 | HK$1.6t | HK$2.4t | HK$40.7b | 10.8x | 39.8x | 0.7x |
| Thu, 25 Jul 2024 | HK$1.6t | HK$2.3t | HK$44.7b | 11.3x | 35.2x | 0.7x |
| Sat, 22 Jun 2024 | HK$1.7t | HK$2.3t | HK$42.2b | 12x | 41.1x | 0.8x |
| Mon, 20 May 2024 | HK$1.7t | HK$2.2t | HK$40.8b | 12.2x | 42.2x | 0.8x |
| Wed, 17 Apr 2024 | HK$1.5t | HK$2.3t | HK$44.6b | 10.9x | 33.6x | 0.7x |
| Fri, 15 Mar 2024 | HK$1.5t | HK$2.2t | HK$64.4b | 9.8x | 23.6x | 0.7x |
| Sun, 11 Feb 2024 | HK$1.3t | HK$2.3t | HK$64.4b | 9.3x | 20.3x | 0.6x |
| Tue, 09 Jan 2024 | HK$1.5t | HK$2.3t | HK$66.2b | 9.6x | 23.1x | 0.7x |
| Thu, 07 Dec 2023 | HK$1.6t | HK$2.3t | HK$66.3b | 10x | 23.6x | 0.7x |
| Sat, 04 Nov 2023 | HK$1.6t | HK$2.3t | HK$71.1b | 10.5x | 22.8x | 0.7x |
| Mon, 02 Oct 2023 | HK$1.5t | HK$2.3t | HK$70.9b | 10.1x | 21.1x | 0.7x |
| Wed, 30 Aug 2023 | HK$1.6t | HK$2.3t | HK$72.2b | 10.6x | 22.3x | 0.7x |
| Fri, 28 Jul 2023 | HK$1.6t | HK$2.4t | HK$81.5b | 9.6x | 19.4x | 0.7x |
| Sun, 25 Jun 2023 | HK$1.5t | HK$2.4t | HK$82.9b | 9x | 18.6x | 0.6x |
| Tue, 23 May 2023 | HK$1.4t | HK$2.5t | HK$79.9b | 8.9x | 18x | 0.6x |
| Thu, 20 Apr 2023 | HK$1.8t | HK$2.5t | HK$81.3b | 9.6x | 21.8x | 0.7x |
| Sat, 18 Mar 2023 | HK$1.8t | HK$2.6t | HK$73.6b | 8.7x | 24.2x | 0.7x |
Price to Earnings Ratio
24.2x
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 43.6x.
- The 3-year average PS ratio of 0.91x 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 5.2% 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 | 0.37% | |
| Tech | 5.38% | |
| IT | 26.14% | |
| Communications | 9.46% | |
| Tech Hardware | 5.75% | |
| Semiconductors | 4.54% | |
| Software | 3.04% | |
| Electronic Equipment and Components | 1.95% | |
Industry PE
- Investors are most optimistic about the IT industry which is trading above its 3-year average PE ratio of 42.3x.
- Analysts are expecting annual earnings growth of 71.6%, which is higher than its past year's earnings growth of 4.1% per year.
Forecasted Growth
- Analysts are most optimistic on the IT industry, expecting annual earnings growth of 72% over the next 5 years.
- This is better than its past earnings growth rate of 4.1% per year.
- In contrast, the Tech Hardware industry is expected to see its earnings grow by 13% 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 | |
|---|---|---|---|---|---|
| 100 MiniMax Group | HK$1.22k | 48.6% +HK$123.4b | n/a | PS610.1x | |
| 2513 Knowledge Atlas Technology | HK$649.00 | 22.9% +HK$53.9b | n/a | PS554.5x | |
| 1810 Xiaomi | HK$33.62 | 6.5% +HK$52.9b | -37.6% | PE17.3x | |
| 3317 Shenzhen Xunce Technology | HK$153.90 | 98.7% +HK$24.7b | n/a | PS79.7x | |
| 9903 Shanghai Iluvatar CoreX Semiconductor | HK$338.20 | 31.2% +HK$20.4b | n/a | PS113.4x |
