An Intrinsic Calculation For Wasion Holdings Limited (HKG:3393) Suggests It's 46% Undervalued
Jan 19
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Hong Kong (HSI) Tech Sector Analysis
UpdatedJan 21, 2026
DataAggregated Company Financials
Companies218
- 7D-1.6%
- 3M-8.2%
- 1Y30.5%
- YTD-1.6%
Over the last 7 days, the Tech industry has dropped 1.6%, driven by a pullback from Xiaomi of 6.6%. Meanwhile, Hua Hong Semiconductor actually outperformed within the industry, gaining 12% in the last week. In the past year, the industry has gained 31%. Earnings are forecast to grow by 28% 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 |
|---|---|---|---|---|---|---|
| Wed, 21 Jan 2026 | HK$3.5t | HK$2.9t | HK$76.2b | 17.2x | 46.4x | 1.2x |
| Fri, 19 Dec 2025 | HK$3.3t | HK$2.9t | HK$77.0b | 15.8x | 43x | 1.1x |
| Sun, 16 Nov 2025 | HK$3.5t | HK$2.8t | HK$67.0b | 16x | 52.7x | 1.2x |
| Tue, 14 Oct 2025 | HK$3.9t | HK$2.8t | HK$66.7b | 18.5x | 59.1x | 1.4x |
| Thu, 11 Sep 2025 | HK$3.8t | HK$2.8t | HK$67.4b | 18.7x | 55.9x | 1.3x |
| Sat, 09 Aug 2025 | HK$3.4t | HK$2.7t | HK$53.9b | 18.9x | 62.6x | 1.2x |
| Mon, 07 Jul 2025 | HK$3.3t | HK$2.7t | HK$55.3b | 16.1x | 59.9x | 1.2x |
| Wed, 04 Jun 2025 | HK$3.1t | HK$2.7t | HK$52.4b | 13.1x | 58.2x | 1.1x |
| Fri, 02 May 2025 | HK$3.0t | HK$2.6t | HK$45.0b | 13x | 67.2x | 1.2x |
| Sun, 30 Mar 2025 | HK$3.2t | HK$2.5t | HK$36.2b | 13.7x | 87x | 1.2x |
| Tue, 25 Feb 2025 | HK$3.3t | HK$2.5t | HK$38.2b | 13.2x | 87.3x | 1.4x |
| Thu, 23 Jan 2025 | HK$2.5t | HK$2.4t | HK$35.6b | 11.6x | 70.9x | 1x |
| Sat, 21 Dec 2024 | HK$2.3t | HK$2.4t | HK$37.2b | 11.3x | 62.2x | 1x |
| Mon, 18 Nov 2024 | HK$2.2t | HK$2.4t | HK$33.9b | 11.3x | 63.6x | 0.9x |
| Wed, 16 Oct 2024 | HK$2.0t | HK$2.4t | HK$33.7b | 11.1x | 58x | 0.8x |
| Fri, 13 Sep 2024 | HK$1.5t | HK$2.4t | HK$34.2b | 9.9x | 44.9x | 0.6x |
| Sun, 11 Aug 2024 | HK$1.5t | HK$2.3t | HK$43.4b | 11.5x | 35.3x | 0.7x |
| Tue, 09 Jul 2024 | HK$1.6t | HK$2.3t | HK$44.7b | 11.8x | 36x | 0.7x |
| Thu, 06 Jun 2024 | HK$1.7t | HK$2.3t | HK$42.2b | 12.3x | 39.9x | 0.7x |
| Sat, 04 May 2024 | HK$1.6t | HK$2.2t | HK$43.1b | 11.9x | 37.9x | 0.7x |
| Mon, 01 Apr 2024 | HK$1.5t | HK$2.3t | HK$44.7b | 11.1x | 33.7x | 0.7x |
| Wed, 28 Feb 2024 | HK$1.4t | HK$2.3t | HK$63.2b | 9.2x | 22.5x | 0.6x |
| Fri, 26 Jan 2024 | HK$1.5t | HK$2.3t | HK$66.2b | 9.3x | 22.2x | 0.6x |
| Sun, 24 Dec 2023 | HK$1.6t | HK$2.3t | HK$66.4b | 9.8x | 23.9x | 0.7x |
| Tue, 21 Nov 2023 | HK$1.7t | HK$2.3t | HK$65.7b | 11.7x | 25.4x | 0.7x |
| Thu, 19 Oct 2023 | HK$1.5t | HK$2.3t | HK$70.9b | 10x | 21.4x | 0.7x |
| Sat, 16 Sep 2023 | HK$1.6t | HK$2.3t | HK$70.9b | 11.2x | 22.1x | 0.7x |
| Mon, 14 Aug 2023 | HK$1.5t | HK$2.4t | HK$78.9b | 10.7x | 19.6x | 0.7x |
| Wed, 12 Jul 2023 | HK$1.6t | HK$2.4t | HK$82.1b | 10.1x | 19.1x | 0.7x |
| Fri, 09 Jun 2023 | HK$1.6t | HK$2.4t | HK$83.0b | 8.8x | 18.9x | 0.7x |
| Sun, 07 May 2023 | HK$1.7t | HK$2.5t | HK$81.4b | 9x | 20.3x | 0.7x |
| Tue, 04 Apr 2023 | HK$1.8t | HK$2.5t | HK$81.5b | 10.2x | 21.7x | 0.7x |
| Thu, 02 Mar 2023 | HK$1.8t | HK$2.6t | HK$75.1b | 8.8x | 24.1x | 0.7x |
| Sat, 28 Jan 2023 | HK$1.9t | HK$2.6t | HK$76.4b | 8.6x | 25.1x | 0.7x |
Price to Earnings Ratio
25.1x
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 46.4x which is higher than its 3-year average PE of 42.6x.
- The 3-year average PS ratio of 0.89x 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 4.0% 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 | -0.81% | |
| Tech | -1.63% | |
| Communications | 4.72% | |
| Electronic Equipment and Components | 1.30% | |
| Semiconductors | 1.14% | |
| IT | -0.68% | |
| Software | -4.03% | |
| Tech Hardware | -5.94% | |
Industry PE
- Investors are most optimistic about the IT industry which is trading above its 3-year average PE ratio of 40.8x.
- Analysts are expecting annual earnings growth of 32.2%, 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 53% over the next 5 years.
- This is better than its past earnings growth rate of 30% per year.
- In contrast, the Tech Hardware industry is expected to see its earnings grow by 14% 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 | |
|---|---|---|---|---|---|
| 1347 Hua Hong Semiconductor | HK$105.80 | 13.1% +HK$21.3b | 350.2% | PE1928.1x | |
| 100 MiniMax Group | HK$404.80 | 10.5% +HK$11.9b | n/a | PS248.9x | |
| 981 Semiconductor Manufacturing International | HK$77.25 | 1.7% +HK$10.4b | 83.5% | PE127.9x | |
| 1888 Kingboard Laminates Holdings | HK$14.44 | 15.9% +HK$6.2b | 76.1% | PE29.6x | |
| 6651 Beijing 51World Digital Twin Technology | HK$74.30 | 21.8% +HK$5.4b | n/a | PS87.6x |
