Narrative Update • Jun 02
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Hong Kong (HSI) Tech Sector Analysis
UpdatedJun 06, 2026
DataAggregated Company Financials
Companies231
- 7D-3.9%
- 3M16.1%
- 1Y23.9%
- YTD10.4%
Over the last 7 days, the Tech industry has dropped 1.1%, driven by a pullback from Knowledge Atlas Technology of 19%. Meanwhile, Beijing 51World Digital Twin Technology actually outperformed within the industry, gaining 31% in the last week. In the past year, the industry has gained 27%. Looking forward, earnings are forecast to grow by 34% annually.
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 |
|---|---|---|---|---|---|---|
| Sat, 06 Jun 2026 | HK$4.4t | HK$3.2t | HK$73.3b | 22x | 60x | 1.4x |
| Mon, 04 May 2026 | HK$4.0t | HK$3.1t | HK$77.3b | 19.7x | 51.1x | 1.3x |
| Wed, 01 Apr 2026 | HK$3.4t | HK$3.0t | HK$75.3b | 15.9x | 44.5x | 1.1x |
| Fri, 27 Feb 2026 | HK$3.7t | HK$3.0t | HK$76.0b | 16.5x | 48.5x | 1.2x |
| Sun, 25 Jan 2026 | HK$3.6t | HK$2.9t | HK$76.1b | 18.4x | 47.8x | 1.2x |
| Tue, 23 Dec 2025 | HK$3.4t | HK$2.9t | HK$77.1b | 15.9x | 44x | 1.2x |
| Thu, 20 Nov 2025 | HK$3.4t | HK$2.9t | HK$74.7b | 16.4x | 45.3x | 1.2x |
| Sat, 18 Oct 2025 | HK$3.6t | HK$2.8t | HK$66.6b | 17.4x | 54.7x | 1.3x |
| Mon, 15 Sep 2025 | HK$3.9t | HK$2.8t | HK$67.3b | 19x | 57.3x | 1.4x |
| Wed, 13 Aug 2025 | HK$3.4t | HK$2.7t | HK$54.3b | 19.2x | 63.1x | 1.3x |
| Fri, 11 Jul 2025 | HK$3.3t | HK$2.7t | HK$55.3b | 16.3x | 60x | 1.2x |
| Sun, 08 Jun 2025 | HK$3.1t | HK$2.7t | HK$52.5b | 13.6x | 58.7x | 1.1x |
| Tue, 06 May 2025 | HK$3.1t | HK$2.6t | HK$44.9b | 13.4x | 70x | 1.2x |
| Thu, 03 Apr 2025 | HK$3.0t | HK$2.6t | HK$45.5b | 14.3x | 64.9x | 1.1x |
| Sat, 01 Mar 2025 | HK$3.2t | HK$2.4t | HK$38.3b | 12.5x | 83.4x | 1.3x |
| Mon, 27 Jan 2025 | HK$2.6t | HK$2.4t | HK$35.7b | 12.4x | 72.7x | 1.1x |
| Wed, 25 Dec 2024 | HK$2.3t | HK$2.4t | HK$37.1b | 11.5x | 62.3x | 1x |
| Fri, 22 Nov 2024 | HK$2.2t | HK$2.4t | HK$37.5b | 11.9x | 57.9x | 0.9x |
| Sun, 20 Oct 2024 | HK$2.1t | HK$2.4t | HK$33.7b | 11.6x | 62.4x | 0.9x |
| Tue, 17 Sep 2024 | HK$1.5t | HK$2.4t | HK$34.2b | 10.3x | 45.1x | 0.6x |
| Thu, 15 Aug 2024 | HK$1.5t | HK$2.3t | HK$43.8b | 11.2x | 35.3x | 0.7x |
| Sat, 13 Jul 2024 | HK$1.7t | HK$2.3t | HK$44.7b | 12x | 37.6x | 0.7x |
| Mon, 10 Jun 2024 | HK$1.7t | HK$2.3t | HK$42.2b | 12.2x | 39.8x | 0.7x |
| Wed, 08 May 2024 | HK$1.7t | HK$2.3t | HK$43.1b | 12.2x | 38.3x | 0.7x |
| Fri, 05 Apr 2024 | HK$1.5t | HK$2.3t | HK$44.6b | 11.3x | 33.9x | 0.7x |
| Sun, 03 Mar 2024 | HK$1.4t | HK$2.3t | HK$64.0b | 9.1x | 22.5x | 0.6x |
| Tue, 30 Jan 2024 | HK$1.4t | HK$2.3t | HK$66.1b | 9.4x | 21.2x | 0.6x |
| Thu, 28 Dec 2023 | HK$1.6t | HK$2.3t | HK$66.3b | 9.9x | 24.2x | 0.7x |
| Sat, 25 Nov 2023 | HK$1.6t | HK$2.3t | HK$72.6b | 10.5x | 22.3x | 0.7x |
| Mon, 23 Oct 2023 | HK$1.5t | HK$2.3t | HK$70.9b | 10.1x | 21.4x | 0.7x |
| Wed, 20 Sep 2023 | HK$1.5t | HK$2.3t | HK$70.8b | 10.5x | 21.7x | 0.7x |
| Fri, 18 Aug 2023 | HK$1.5t | HK$2.4t | HK$79.0b | 10.6x | 19.3x | 0.6x |
| Sun, 16 Jul 2023 | HK$1.6t | HK$2.4t | HK$82.2b | 10x | 19.6x | 0.7x |
| Tue, 13 Jun 2023 | HK$1.6t | HK$2.4t | HK$82.9b | 8.7x | 19x | 0.7x |
Price to Earnings Ratio
19x
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 62.5x which is higher than its 3-year average PE of 46.0x.
- The 3-year average PS ratio of 0.96x 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 4.0% per year over the last three years.
- Meanwhile revenues for these companies have grown 9.9% 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 | -0.88% | |
| Tech | -3.92% | |
| Communications | 5.47% | |
| Tech Hardware | 0.21% | |
| Electronic Equipment and Components | -2.66% | |
| Software | -4.51% | |
| Semiconductors | -8.25% | |
| IT | -14.05% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 422x.
- Analysts are expecting annual earnings growth of 34.3%, which is higher than its past year's earnings decline of 16.2% per year.
Forecasted Growth
- Analysts are most optimistic on the Software industry, expecting annual earnings growth of 87% over the next 5 years.
- This is better than its past earnings decline of 24% per year.
- In contrast, the Tech Hardware industry is expected to see its earnings grow by 18% 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 | |
|---|---|---|---|---|---|
| 6651 Beijing 51World Digital Twin Technology | HK$126.60 | 30.6% +HK$12.3b | n/a | PS130.2x | |
| 992 Lenovo Group | HK$24.88 | 3.7% +HK$10.9b | 172.5% | PE20.6x | |
| 6869 Yangtze Optical Fibre And Cable Limited | HK$239.20 | 5.3% +HK$9.9b | 1,282.7% | PE146.8x | |
| 268 Kingdee International Software Group | HK$7.98 | 9.8% +HK$2.5b | -38.0% | PE262x | |
| 894 Man Yue Technology Holdings | HK$7.03 | 106.2% +HK$1.7b | 1,750.0% | PE539.1x |
