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Hong Kong (HSI) Tech Sector Analysis

UpdatedJan 10, 2026
DataAggregated Company Financials
Companies219
  • 7D-1.2%
  • 3M-14.2%
  • 1Y44.3%
  • YTD-1.0%

Over the last 7 days, the Tech industry has dropped 1.2%, driven by a pullback from Xiaomi of 6.1%. In contrast, Hua Hong Semiconductor has gained 12%. This takes the industry's 12 month performance to a gain of 44%. 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
Sun, 11 Jan 2026HK$3.6tHK$2.9tHK$76.3b16.2x46.9x1.2x
Tue, 09 Dec 2025HK$3.5tHK$2.9tHK$76.9b16.2x45.6x1.2x
Thu, 06 Nov 2025HK$3.6tHK$2.8tHK$66.8b16.5x53.4x1.3x
Sat, 04 Oct 2025HK$4.3tHK$2.8tHK$66.8b20x64x1.5x
Mon, 01 Sep 2025HK$3.8tHK$2.8tHK$68.0b19x55.3x1.3x
Wed, 30 Jul 2025HK$3.5tHK$2.7tHK$55.2b16.9x62.6x1.3x
Fri, 27 Jun 2025HK$3.3tHK$2.7tHK$55.7b14.6x58.6x1.2x
Sun, 25 May 2025HK$3.1tHK$2.7tHK$45.1b13.6x68.5x1.2x
Tue, 22 Apr 2025HK$2.7tHK$2.6tHK$45.7b13.2x59.9x1.1x
Thu, 20 Mar 2025HK$3.4tHK$2.5tHK$37.3b12.9x91x1.4x
Sat, 15 Feb 2025HK$3.0tHK$2.4tHK$35.9b12.6x83.7x1.2x
Mon, 13 Jan 2025HK$2.3tHK$2.1tHK$14.8b11x159x1.1x
Wed, 11 Dec 2024HK$2.3tHK$2.4tHK$37.2b11x61.9x0.9x
Fri, 08 Nov 2024HK$2.2tHK$2.4tHK$32.4b12.2x68.6x0.9x
Sun, 06 Oct 2024HK$2.1tHK$2.4tHK$34.1b11.6x61.2x0.9x
Tue, 03 Sep 2024HK$1.6tHK$2.4tHK$34.3b9.8x46.7x0.7x
Thu, 01 Aug 2024HK$1.6tHK$2.3tHK$45.1b11.7x34.8x0.7x
Sat, 29 Jun 2024HK$1.7tHK$2.3tHK$44.9b11.6x36.8x0.7x
Mon, 27 May 2024HK$1.7tHK$2.3tHK$41.9b12x39.5x0.7x
Wed, 24 Apr 2024HK$1.5tHK$2.3tHK$43.6b10.9x33.3x0.6x
Fri, 22 Mar 2024HK$1.5tHK$2.2tHK$51.8b10.5x29.6x0.7x
Sun, 18 Feb 2024HK$1.4tHK$2.3tHK$64.3b9.4x21.3x0.6x
Tue, 16 Jan 2024HK$1.5tHK$2.3tHK$66.2b9.5x23x0.7x
Thu, 14 Dec 2023HK$1.6tHK$2.3tHK$66.3b9.3x23.8x0.7x
Sat, 11 Nov 2023HK$1.6tHK$2.3tHK$70.3b10.3x22.8x0.7x
Mon, 09 Oct 2023HK$1.5tHK$2.3tHK$71.0b9.9x20.6x0.6x
Wed, 06 Sep 2023HK$1.6tHK$2.3tHK$70.8b10.7x22.4x0.7x
Fri, 04 Aug 2023HK$1.6tHK$2.4tHK$81.1b10.4x19.8x0.7x
Sun, 02 Jul 2023HK$1.6tHK$2.4tHK$82.2b10.3x19.2x0.7x
Tue, 30 May 2023HK$1.6tHK$2.4tHK$83.0b8.5x18.7x0.6x
Thu, 27 Apr 2023HK$1.7tHK$2.5tHK$81.2b8.9x20.4x0.7x
Sat, 25 Mar 2023HK$1.8tHK$2.5tHK$74.0b8.5x23.9x0.7x
Mon, 20 Feb 2023HK$1.8tHK$2.5tHK$74.8b8.7x23.9x0.7x
Wed, 18 Jan 2023HK$1.8tHK$2.6tHK$76.4b8.3x23.2x0.7x
Price to Earnings Ratio

23.2x


Total Market Cap: HK$1.8tTotal Earnings: HK$76.4bTotal Revenue: HK$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Tech Sector Price to Earnings3Y Average 42.4x202420252026
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 46.9x which is higher than its 3-year average PE of 42.3x.
  • 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-0.093%
Tech-1.17%
Software5.45%
IT2.59%
Semiconductors1.44%
Electronic Equipment and Components-1.85%
Communications-3.59%
Tech Hardware-5.86%
Industry PE
  • Investors are most optimistic about the IT industry which is trading above its 3-year average PE ratio of 40.5x.
    • Analysts are expecting annual earnings growth of 31.8%, 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 52% 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 15% 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
1347 Hua Hong SemiconductorHK$91.2512.2%
+HK$17.3b		337.6%PE1663.6x
20 SenseTime GroupHK$2.4711.3%
+HK$10.1b		93.0%PS20.4x
9660 Horizon RoboticsHK$9.556.2%
+HK$8.2b		167.5%PE56.6x
522 ASMPTHK$89.9510.8%
+HK$3.7b		16.4%PS2.8x
6651 Beijing 51World Digital Twin TechnologyHK$45.6820.5%
+HK$3.2b		n/aPS54x

Latest News

992
HK$8.99
Lenovo Group
7D
-5.9%
1Y
-3.7%
1347
HK$91.25
Hua Hong Semiconductor
7D
12.2%
1Y
337.6%

1347: Upcoming Board Decisions Will Support Higher Future Earnings Multiple

Analysts have nudged their fair value estimate for Hua Hong Semiconductor to $120.04 from about $119.13, reflecting updated views on discount rates, revenue growth, profit margins and a higher future P/E assumption. What's in the News Hua Hong Semiconductor issued earnings guidance for the fourth quarter of 2025, with expected revenue of about US$650 million to US$660 million (Key Developments).
522
HK$89.95
ASMPT
7D
10.8%
1Y
16.4%

522: Improving Order Momentum Will Support Balanced Prospects Under New Hold Rating

Analysts have inched their fair value estimate for ASMPT up from about HK$94.57 to HK$94.85, reflecting a slightly higher Street price target of HK$90 and fine tuning of assumptions around the discount rate, revenue growth, profit margin and forward P/E. Analyst Commentary Recent research reflects a more balanced stance on ASMPT, with the latest move shifting to a Hold rating while still lifting the price target to HK$90 from HK$73.
1810
HK$37.82
Xiaomi
7D
-6.1%
1Y
12.7%

We Like These Underlying Return On Capital Trends At Xiaomi (HKG:1810)

Jan 08
We Like These Underlying Return On Capital Trends At Xiaomi (HKG:1810)
2436
HK$11.76
LX Technology Group
7D
155.7%
1Y
224.9%
981
HK$74.40
Semiconductor Manufacturing International
7D
-0.9%
1Y
130.0%

981: Flat Revenue Guidance And Slight Margin Uplift Will Support Balance

Analysts have raised their price target for Semiconductor Manufacturing International to US$74.67 from US$71.60, citing updated assumptions around revenue growth, profit margins and future P/E that result in a higher fair value estimate. What's in the News Management issued earnings guidance for the fourth quarter of 2025, indicating revenue is expected to be flat to up 2% quarter on quarter, giving you a rough sense of near term growth expectations (Key Developments).
6869
HK$49.24
Yangtze Optical Fibre And Cable Limited
7D
-6.0%
1Y
301.0%
2382
HK$64.70
Sunny Optical Technology (Group)
7D
-4.8%
1Y
3.2%

Are Investors Undervaluing Sunny Optical Technology (Group) Company Limited (HKG:2382) By 29%?

Jan 06
Are Investors Undervaluing Sunny Optical Technology (Group) Company Limited (HKG:2382) By 29%?
1385
HK$51.00
Shanghai Fudan Microelectronics Group
7D
8.0%
1Y
269.6%

Why Investors Shouldn't Be Surprised By Shanghai Fudan Microelectronics Group Company Limited's (HKG:1385) 27% Share Price Surge

Jan 05
Why Investors Shouldn't Be Surprised By Shanghai Fudan Microelectronics Group Company Limited's (HKG:1385) 27% Share Price Surge
2577
HK$68.10
InnoScience (Suzhou) Technology Holding
7D
-9.0%
1Y
94.6%
6651
HK$45.68
Beijing 51World Digital Twin Technology
7D
20.5%
1Y
n/a
20
HK$2.47
SenseTime Group
7D
11.3%
1Y
93.0%
2635
HK$416.40
Nuobikan Artificial Intelligence Technology (Chengdu)
7D
20.6%
1Y
n/a
9678
HK$304.80
Unisound AI Technology
7D
-27.2%
1Y
n/a

Health Check: How Prudently Does Unisound AI Technology (HKG:9678) Use Debt?

Dec 29
Health Check: How Prudently Does Unisound AI Technology (HKG:9678) Use Debt?
6088
HK$4.53
FIT Hon Teng
7D
-11.4%
1Y
28.0%

The Price Is Right For FIT Hon Teng Limited (HKG:6088)

Dec 22
The Price Is Right For FIT Hon Teng Limited (HKG:6088)
9660
HK$9.55
Horizon Robotics
7D
6.2%
1Y
167.5%