Why Investors Shouldn't Be Surprised By Shanghai Fudan Microelectronics Group Company Limited's (HKG:1385) 26% Share Price Surge
Sep 15
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Hong Kong (HSI) Tech Sector Analysis
UpdatedSep 15, 2025
DataAggregated Company Financials
Companies213
- 7D4.0%
- 3M23.4%
- 1Y132.9%
- YTD60.9%
In the last week, the Tech industry is up 4.0%, with Semiconductor Manufacturing International leading the way, up 8.3%. Meanwhile, GCL Technology Holdings actually underperformed within the industry, shrinking 13% in the last week. This means that the industry has gained 133% over the past 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 |
|---|---|---|---|---|---|---|
| Tue, 16 Sep 2025 | HK$3.9t | HK$2.8t | HK$67.3b | 19x | 57.3x | 1.4x |
| Thu, 14 Aug 2025 | HK$3.5t | HK$2.7t | HK$54.4b | 19.8x | 64.6x | 1.3x |
| Sat, 12 Jul 2025 | HK$3.3t | HK$2.7t | HK$55.3b | 16.3x | 60x | 1.2x |
| Mon, 09 Jun 2025 | HK$3.1t | HK$2.7t | HK$52.5b | 13.6x | 58.7x | 1.1x |
| Wed, 07 May 2025 | HK$3.1t | HK$2.6t | HK$45.1b | 13.4x | 68.9x | 1.2x |
| Fri, 04 Apr 2025 | HK$2.9t | HK$2.6t | HK$45.4b | 13.9x | 64.6x | 1.1x |
| Sun, 02 Mar 2025 | HK$3.2t | HK$2.4t | HK$34.6b | 12.7x | 92.4x | 1.3x |
| Tue, 28 Jan 2025 | HK$2.6t | HK$2.4t | HK$35.6b | 12x | 71.7x | 1.1x |
| Thu, 26 Dec 2024 | HK$2.4t | HK$2.4t | HK$37.1b | 11.5x | 63.6x | 1x |
| Sat, 23 Nov 2024 | HK$2.1t | HK$2.4t | HK$37.5b | 11.3x | 57.1x | 0.9x |
| Mon, 21 Oct 2024 | HK$2.1t | HK$2.4t | HK$33.7b | 11.6x | 62.4x | 0.9x |
| Wed, 18 Sep 2024 | HK$1.6t | HK$2.4t | HK$34.3b | 10x | 45.4x | 0.6x |
| Fri, 16 Aug 2024 | HK$1.6t | HK$2.3t | HK$43.7b | 11.2x | 35.8x | 0.7x |
| Sun, 14 Jul 2024 | HK$1.7t | HK$2.3t | HK$44.7b | 12x | 37.6x | 0.7x |
| Tue, 11 Jun 2024 | HK$1.7t | HK$2.3t | HK$42.2b | 12.2x | 39.8x | 0.7x |
| Thu, 09 May 2024 | HK$1.7t | HK$2.2t | HK$43.1b | 12x | 38.3x | 0.7x |
| Sat, 06 Apr 2024 | HK$1.5t | HK$2.3t | HK$44.6b | 11.5x | 33.7x | 0.7x |
| Mon, 04 Mar 2024 | HK$1.4t | HK$2.3t | HK$64.0b | 9.1x | 22.5x | 0.6x |
| Wed, 31 Jan 2024 | HK$1.4t | HK$2.3t | HK$66.5b | 9.4x | 20.3x | 0.6x |
| Fri, 29 Dec 2023 | HK$1.7t | HK$2.3t | HK$65.5b | 9.7x | 25.8x | 0.7x |
| Sun, 26 Nov 2023 | HK$1.6t | HK$2.3t | HK$72.6b | 10.5x | 22.3x | 0.7x |
| Tue, 24 Oct 2023 | HK$1.5t | HK$2.3t | HK$70.9b | 10.1x | 21.3x | 0.7x |
| Thu, 21 Sep 2023 | HK$1.5t | HK$2.3t | HK$70.8b | 10.6x | 21.5x | 0.7x |
| Sat, 19 Aug 2023 | HK$1.5t | HK$2.3t | HK$76.1b | 10.6x | 19.6x | 0.6x |
| Mon, 17 Jul 2023 | HK$1.6t | HK$2.4t | HK$82.2b | 10x | 19.6x | 0.7x |
| Wed, 14 Jun 2023 | HK$1.6t | HK$2.4t | HK$82.8b | 8.8x | 19.7x | 0.7x |
| Fri, 12 May 2023 | HK$1.6t | HK$2.5t | HK$81.4b | 9.1x | 19.8x | 0.6x |
| Sun, 09 Apr 2023 | HK$1.8t | HK$2.5t | HK$81.3b | 9.7x | 22.3x | 0.7x |
| Tue, 07 Mar 2023 | HK$1.8t | HK$2.5t | HK$74.4b | 9.2x | 24.4x | 0.7x |
| Thu, 02 Feb 2023 | HK$1.9t | HK$2.6t | HK$76.5b | 8.7x | 25.1x | 0.7x |
| Sat, 31 Dec 2022 | HK$1.7t | HK$2.6t | HK$76.1b | 8.3x | 22x | 0.7x |
| Mon, 28 Nov 2022 | HK$1.6t | HK$2.5t | HK$76.8b | 8.2x | 20.3x | 0.6x |
| Wed, 26 Oct 2022 | HK$1.4t | HK$2.5t | HK$77.0b | 7.8x | 18.3x | 0.6x |
| Fri, 23 Sep 2022 | HK$1.6t | HK$2.6t | HK$77.3b | 8.5x | 20.3x | 0.6x |
Price to Earnings Ratio
20.3x
Current Industry PE
- Investors are optimistic on the Hong Kong Information Technology industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 57.3x which is higher than its 3-year average PE of 39.0x.
- The 3-year average PS ratio of 0.82x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have declined 4.5% per year over the last three years.
- Meanwhile revenues for these companies have grown 3.5% 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, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Hong Kong Tech sector?
| HK Market | 2.63% | |
| Tech | 3.98% | |
| IT | 6.28% | |
| Semiconductors | 4.84% | |
| Electronic Equipment and Components | 4.57% | |
| Software | 4.33% | |
| Tech Hardware | 3.20% | |
| Communications | 2.84% | |
Industry PE
- Investors are most optimistic about the IT industry which is trading above its 3-year average PE ratio of 38.2x.
- Analysts are expecting annual earnings growth of 31.5%, which is higher than its past year's earnings growth of 3.6% per year.
Forecasted Growth
- Analysts are most optimistic on the Software industry, expecting annual earnings growth of 52% over the next 5 years.
- This is better than its past earnings growth rate of 4.5% per year.
- In contrast, the Tech Hardware industry is expected to see its earnings grow by 19% 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 | |
|---|---|---|---|---|---|
| 981 Semiconductor Manufacturing International | HK$63.00 | 8.3% +HK$38.8b | 303.8% | PE112.1x | |
| 1810 Xiaomi | HK$56.20 | 2.6% +HK$37.8b | 192.1% | PE36x | |
| 992 Lenovo Group | HK$11.57 | 8.4% +HK$11.2b | 23.1% | PE11.2x | |
| 20 SenseTime Group | HK$2.25 | 13.1% +HK$10.1b | 110.3% | PS18.1x | |
| 1347 Hua Hong Semiconductor | HK$52.15 | 10.7% +HK$8.8b | 240.0% | PE366.8x |
