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Hong Kong (HSI) Tech Sector Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies218
  • 7D-4.7%
  • 3M-7.0%
  • 1Y8.8%
  • YTD-3.9%

Over the last 7 days, the Tech industry has dropped 4.7%, driven by a pullback from Semiconductor Manufacturing International of 10%. In contrast, Yangtze Optical Fibre And Cable Limited has gained 8.5%. In the past year, the industry has gained 8.8%. 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026HK$3.5tHK$2.9tHK$76.4b15.7x45.2x1.2x
Tue, 06 Jan 2026HK$3.6tHK$2.9tHK$77.5b16x46.9x1.2x
Thu, 04 Dec 2025HK$3.3tHK$2.9tHK$77.5b16x43x1.2x
Sat, 01 Nov 2025HK$3.7tHK$2.8tHK$67.2b17.7x54.7x1.3x
Mon, 29 Sep 2025HK$4.0tHK$2.8tHK$67.3b18.3x59.3x1.4x
Wed, 27 Aug 2025HK$3.7tHK$2.8tHK$70.3b20.8x52.1x1.3x
Fri, 25 Jul 2025HK$3.5tHK$2.7tHK$55.4b16.9x63.3x1.3x
Sun, 22 Jun 2025HK$3.1tHK$2.7tHK$52.7b14.1x58.7x1.1x
Tue, 20 May 2025HK$3.1tHK$2.6tHK$46.2b13.8x67.1x1.2x
Thu, 17 Apr 2025HK$2.7tHK$2.6tHK$45.6b13.2x59.5x1x
Sat, 15 Mar 2025HK$3.3tHK$2.4tHK$35.6b12.9x91.3x1.3x
Mon, 10 Feb 2025HK$2.9tHK$2.4tHK$35.9b12.9x81.1x1.2x
Wed, 08 Jan 2025HK$2.4tHK$2.4tHK$35.5b11.3x67.2x1x
Fri, 06 Dec 2024HK$2.2tHK$2.4tHK$37.2b11.1x59.9x0.9x
Sun, 03 Nov 2024HK$2.1tHK$2.4tHK$32.5b12x65.7x0.9x
Tue, 01 Oct 2024HK$1.9tHK$2.4tHK$34.2b10.6x55.9x0.8x
Thu, 29 Aug 2024HK$1.6tHK$2.4tHK$41.7b10.6x38.6x0.7x
Sat, 27 Jul 2024HK$1.5tHK$2.3tHK$44.6b11.5x34.8x0.7x
Mon, 24 Jun 2024HK$1.7tHK$2.3tHK$41.9b12x41.4x0.8x
Wed, 22 May 2024HK$1.7tHK$2.2tHK$40.8b12x41.5x0.8x
Fri, 19 Apr 2024HK$1.5tHK$2.3tHK$44.5b11.1x33.1x0.7x
Sun, 17 Mar 2024HK$1.5tHK$2.2tHK$50.9b10.2x29.7x0.7x
Tue, 13 Feb 2024HK$1.3tHK$2.3tHK$64.3b9.4x20.4x0.6x
Thu, 11 Jan 2024HK$1.5tHK$2.3tHK$66.2b9.5x22.7x0.7x
Sat, 09 Dec 2023HK$1.5tHK$2.3tHK$66.3b9.8x23.4x0.7x
Mon, 06 Nov 2023HK$1.6tHK$2.3tHK$71.1b10.5x22.8x0.7x
Wed, 04 Oct 2023HK$1.5tHK$2.3tHK$71.0b10.1x21.1x0.7x
Fri, 01 Sep 2023HK$1.6tHK$2.3tHK$72.0b10.6x22.1x0.7x
Sun, 30 Jul 2023HK$1.6tHK$2.4tHK$81.4b9.9x19.9x0.7x
Tue, 27 Jun 2023HK$1.5tHK$2.4tHK$82.6b9.1x18.8x0.7x
Thu, 25 May 2023HK$1.6tHK$2.5tHK$80.1b8.6x19.4x0.6x
Sat, 22 Apr 2023HK$1.7tHK$2.5tHK$81.3b9.6x21.3x0.7x
Mon, 20 Mar 2023HK$1.7tHK$2.5tHK$72.2b8.3x23.8x0.7x
Wed, 15 Feb 2023HK$1.8tHK$2.6tHK$76.5b8.8x24x0.7x
Price to Earnings Ratio

24x


Total Market Cap: HK$1.8tTotal Earnings: HK$76.5bTotal Revenue: HK$2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Tech Sector Price to Earnings3Y Average 43x202420252026
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 43.0x.
  • The 3-year average PS ratio of 0.90x 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 4.1% 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-1.98%
Tech-4.71%
Communications5.27%
Tech Hardware-0.40%
Electronic Equipment and Components-2.85%
IT-7.23%
Software-7.42%
Semiconductors-9.35%
Industry PE
  • Investors are most optimistic about the IT industry which is trading above its 3-year average PE ratio of 41.4x.
    • Analysts are expecting annual earnings growth of 54.1%, 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 54% 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 14% 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
6869 Yangtze Optical Fibre And Cable LimitedHK$90.808.5%
+HK$5.8b		398.9%PE115.7x
992 Lenovo GroupHK$9.254.2%
+HK$4.6b		-24.3%PE9x
2635 Nuobikan Artificial Intelligence Technology (Chengdu)HK$513.0019.5%
+HK$3.2b		n/aPE164.7x
1384 Deepexi TechnologyHK$82.105.5%
+HK$1.4b		n/aPS75.7x
968 Xinyi Solar HoldingsHK$3.524.1%
+HK$1.3b		-1.9%PS1.4x

Latest News

1347
HK$99.25
Hua Hong Semiconductor
7D
-14.8%
1Y
275.2%

1347: Elevated Valuation Will Face Test At Upcoming Shareholder Meetings

Analysts have raised their fair value estimate for Hua Hong Semiconductor from about US$22.38 to roughly US$28.98 per share. They cite updated assumptions that include a slightly lower discount rate, moderated revenue growth expectations, higher projected profit margins, and a reduced future P/E multiple.
981
HK$67.60
Semiconductor Manufacturing International
7D
-10.3%
1Y
44.9%

981: Future P/E Repricing Will Support Constructive Long Term Upside Potential

Analysts have lifted their fair value estimate for Semiconductor Manufacturing International from about US$73.00 to roughly US$126.00 per share, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E levels. What's in the News A special or extraordinary shareholders meeting is scheduled for February 12, 2026 at 14:00 China Standard Time in Shanghai, China.
1810
HK$35.18
Xiaomi
7D
-0.9%
1Y
-17.1%

1810: EV Push And Electronics Self Reliance Will Drive Future Upside

Narrative Update Analysts have trimmed their fair value estimate for Xiaomi from HK$57.80 to about HK$57.33, reflecting slightly lower revenue growth expectations and a higher discount rate. They still highlight support from its electric vehicle ambitions and smartphone and internet of things exposure, despite near term pressure on margins and previous target cuts.
992
HK$9.25
Lenovo Group
7D
4.2%
1Y
-24.3%

992: Memory Super Cycle Risks Will Test AI Hardware And Agentic AI Plans

Analysts have trimmed their price targets on Lenovo Group, with recent revisions from HK$13.00 to HK$9.50 and from HK$13.00 to HK$10.20, reflecting concerns about higher memory costs and potential component shortages that could pressure margins and earnings. Analyst Commentary Recent research from JPMorgan and other bearish analysts highlights a more cautious stance on Lenovo, centered on cost pressures and their possible impact on earnings quality and valuation.
1523
HK$7.72
Plover Bay Technologies
7D
10.8%
1Y
44.3%
285
HK$33.92
BYD Electronic (International)
7D
1.6%
1Y
-36.9%

An Intrinsic Calculation For BYD Electronic (International) Company Limited (HKG:285) Suggests It's 42% Undervalued

Jan 26
An Intrinsic Calculation For BYD Electronic (International) Company Limited (HKG:285) Suggests It's 42% Undervalued
268
HK$11.09
Kingdee International Software Group
7D
-14.4%
1Y
-10.4%

268: Lower Discount Rate And Return To Profitability Will Support Higher Multiples

Analysts have nudged their implied price target for Kingdee International Software Group slightly higher to about HK$19.25, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What's in the News The company issued earnings guidance for the year ended 31 December 2025, with total revenue expected in a range of RMB 6,950 million to RMB 7,050 million (Key Developments).
6869
HK$90.80
Yangtze Optical Fibre And Cable Limited
7D
8.5%
1Y
398.9%
2513
HK$203.20
Knowledge Atlas Technology
7D
-10.2%
1Y
n/a
20
HK$2.34
SenseTime Group
7D
-5.3%
1Y
35.3%

Subdued Growth No Barrier To SenseTime Group Inc. (HKG:20) With Shares Advancing 26%

Jan 16
Subdued Growth No Barrier To SenseTime Group Inc. (HKG:20) With Shares Advancing 26%
6082
HK$31.78
Shanghai Biren Technology
7D
-8.7%
1Y
n/a
6651
HK$74.00
Beijing 51World Digital Twin Technology
7D
-18.2%
1Y
n/a
2635
HK$513.00
Nuobikan Artificial Intelligence Technology (Chengdu)
7D
19.5%
1Y
n/a
3800
HK$1.11
GCL Technology Holdings
7D
2.8%
1Y
-14.6%

What You Can Learn From GCL Technology Holdings Limited's (HKG:3800) P/S After Its 26% Share Price Crash

Dec 11
What You Can Learn From GCL Technology Holdings Limited's (HKG:3800) P/S After Its 26% Share Price Crash
968
HK$3.52
Xinyi Solar Holdings
7D
4.1%
1Y
-1.9%

Xinyi Solar Holdings (HKG:968) Takes On Some Risk With Its Use Of Debt

Nov 20
Xinyi Solar Holdings (HKG:968) Takes On Some Risk With Its Use Of Debt
1384
HK$82.10
Deepexi Technology
7D
5.5%
1Y
n/a