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Hong Kong (HSI) Tech Sector Analysis

UpdatedMar 20, 2026
DataAggregated Company Financials
Companies219
  • 7D-0.5%
  • 3M-0.6%
  • 1Y-6.8%
  • YTD-3.4%

Last week, the Tech industry hasn't moved much but Xiaomi is up 9.1% in that time. As for the longer term, the industry has declined 6.8% in the last year. As for the next few years, earnings are expected to grow by 28% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Mar 2026HK$3.5tHK$3.0tHK$86.1b15.4x41x1.2x
Sun, 15 Feb 2026HK$3.7tHK$3.0tHK$75.4b16.1x49.2x1.2x
Tue, 13 Jan 2026HK$3.7tHK$2.9tHK$76.4b16.8x47.8x1.2x
Thu, 11 Dec 2025HK$3.5tHK$2.9tHK$77.8b16.2x44.9x1.2x
Sat, 08 Nov 2025HK$3.6tHK$2.8tHK$66.7b16.5x53.7x1.3x
Mon, 06 Oct 2025HK$4.3tHK$2.8tHK$66.8b20x64x1.5x
Wed, 03 Sep 2025HK$3.8tHK$2.8tHK$67.6b18.1x56.5x1.3x
Fri, 01 Aug 2025HK$3.3tHK$2.7tHK$55.2b18.5x60.7x1.2x
Sun, 29 Jun 2025HK$3.3tHK$2.7tHK$55.7b14.2x59.6x1.2x
Tue, 27 May 2025HK$3.0tHK$2.7tHK$45.1b13.7x67.2x1.1x
Thu, 24 Apr 2025HK$2.9tHK$2.6tHK$45.7b13.5x64.3x1.1x
Sat, 22 Mar 2025HK$3.2tHK$2.5tHK$38.0b12.7x84.5x1.3x
Mon, 17 Feb 2025HK$3.0tHK$2.4tHK$35.5b12.6x84.9x1.2x
Wed, 15 Jan 2025HK$2.4tHK$2.4tHK$35.6b11.1x67.1x1x
Fri, 13 Dec 2024HK$2.3tHK$2.4tHK$37.2b11.4x62.5x1x
Sun, 10 Nov 2024HK$2.2tHK$2.4tHK$33.1b12.2x67.7x0.9x
Tue, 08 Oct 2024HK$2.2tHK$2.4tHK$34.2b12.8x65x0.9x
Thu, 05 Sep 2024HK$1.6tHK$2.4tHK$34.3b9.9x46x0.7x
Sat, 03 Aug 2024HK$1.5tHK$2.3tHK$45.7b11.7x33.2x0.7x
Mon, 01 Jul 2024HK$1.7tHK$2.3tHK$44.8b11.6x36.9x0.7x
Wed, 29 May 2024HK$1.7tHK$2.3tHK$42.2b12.3x40x0.7x
Fri, 26 Apr 2024HK$1.5tHK$2.2tHK$42.9b11x34.8x0.7x
Sun, 24 Mar 2024HK$1.5tHK$2.2tHK$50.8b10.3x30.5x0.7x
Tue, 20 Feb 2024HK$1.3tHK$2.3tHK$64.3b9.5x21x0.6x
Thu, 18 Jan 2024HK$1.4tHK$2.3tHK$66.1b9.4x21.6x0.6x
Sat, 16 Dec 2023HK$1.6tHK$2.3tHK$66.5b9.9x24.4x0.7x
Mon, 13 Nov 2023HK$1.6tHK$2.3tHK$67.5b10.5x23.8x0.7x
Wed, 11 Oct 2023HK$1.5tHK$2.3tHK$70.9b10x20.9x0.7x
Fri, 08 Sep 2023HK$1.5tHK$2.3tHK$70.7b10.5x21.8x0.7x
Sun, 06 Aug 2023HK$1.6tHK$2.4tHK$81.1b10.2x19.9x0.7x
Tue, 04 Jul 2023HK$1.6tHK$2.4tHK$81.9b10.1x19.7x0.7x
Thu, 01 Jun 2023HK$1.5tHK$2.4tHK$83.1b8.3x18.5x0.6x
Sat, 29 Apr 2023HK$1.7tHK$2.5tHK$80.7b9.1x20.8x0.7x
Mon, 27 Mar 2023HK$1.8tHK$2.5tHK$73.1b8.8x24.2x0.7x
Price to Earnings Ratio

24.2x


Total Market Cap: HK$1.8tTotal Earnings: HK$73.1bTotal Revenue: HK$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Tech Sector Price to Earnings3Y Average 43.8x202420252026
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 43.8x.
  • The 3-year average PS ratio of 0.92x 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 grown 5.6% per year over the last three years.
  • Revenues for these companies have grown 5.9% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

HK Market-1.35%
Tech-0.51%
Tech Hardware7.32%
IT2.05%
Electronic Equipment and Components-0.67%
Software-2.81%
Semiconductors-5.28%
Communications-5.72%
Industry PE
  • Investors are most optimistic about the IT industry which is trading above its 3-year average PE ratio of 42.8x.
    • Analysts are expecting annual earnings growth of 77.1%, 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 77% 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 12% 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
1810 XiaomiHK$36.329.1%
+HK$78.1b		-35.7%PE18.8x
2513 Knowledge Atlas TechnologyHK$659.0018.6%
+HK$46.1b		n/aPS564.6x
6088 FIT Hon TengHK$6.5217.9%
+HK$7.0b		135.4%PE37.8x
2477 WellCell HoldingsHK$16.6028.1%
+HK$3.6b		45.3%PE853.3x
268 Kingdee International Software GroupHK$9.785.0%
+HK$1.7b		-31.4%PE328.9x

Latest News

2018
HK$34.30
AAC Technologies Holdings
7D
3.9%
1Y
-34.1%
6088
HK$6.52
FIT Hon Teng
7D
17.9%
1Y
135.4%
2513
HK$659.00
Knowledge Atlas Technology
7D
18.6%
1Y
n/a
1385
HK$43.94
Shanghai Fudan Microelectronics Group
7D
3.3%
1Y
62.7%
6082
HK$31.10
Shanghai Biren Technology
7D
-6.4%
1Y
n/a
9903
HK$285.00
Shanghai Iluvatar CoreX Semiconductor
7D
-9.5%
1Y
n/a
268
HK$9.78
Kingdee International Software Group
7D
5.0%
1Y
-31.4%
148
HK$37.50
Kingboard Holdings
7D
2.7%
1Y
60.9%
2477
HK$16.60
WellCell Holdings
7D
28.1%
1Y
45.3%
981
HK$59.75
Semiconductor Manufacturing International
7D
-5.3%
1Y
17.7%
100
HK$1,066.00
MiniMax Group
7D
-1.7%
1Y
n/a

Colleague Level AI Agents And Multimodal Content Will Support A Fair Long Term Outlook

Catalysts About MiniMax Group MiniMax Group develops large scale AI models and agent products across language, video, speech and music for global enterprises, developers and consumers. What are the underlying business or industry changes driving this perspective?
6869
HK$145.80
Yangtze Optical Fibre And Cable Limited
7D
-7.8%
1Y
682.2%
1384
HK$38.46
Deepexi Technology
7D
-44.9%
1Y
n/a
1347
HK$89.40
Hua Hong Semiconductor
7D
-5.9%
1Y
143.3%

1347: Elevated P/E Will Face Scrutiny At Upcoming Shareholder Meeting

Analysts have nudged their HK$ price target for Hua Hong Semiconductor slightly higher, citing updated assumptions for discount rate, revenue growth, profit margin, and future P/E that together indicate a modestly stronger risk and earnings profile in their models. What's in the News Hua Hong Semiconductor issued earnings guidance for the first quarter of 2026, with revenue expected to be approximately US$650 million to US$660 million (company guidance).
9660
HK$7.25
Horizon Robotics
7D
-5.8%
1Y
-3.7%
1810
HK$36.32
Xiaomi
7D
9.1%
1Y
-35.7%

1810: Auto Sector Weakness And Crypto Alliance Will Shape Future Returns

Narrative Update Analysts have trimmed their Xiaomi price target slightly to HK$30.52 from HK$31.23, reflecting updated assumptions for somewhat lower profit margins and fair value, partly offset by a higher expected P/E multiple and revenue growth outlook following recent sector research on Chinese carmakers and Xiaomi's role in that ecosystem. Analyst Commentary Recent sector commentary on Chinese carmakers has contributed to a more cautious tone around Xiaomi's auto exposure and broader growth expectations.