At HK$2.63, Is FIT Hon Teng Limited (HKG:6088) Worth Looking At Closely?
Jul 26
Hong Kong (HSI) Tech Sector Analysis
UpdatedJul 26, 2024
DataAggregated Company Financials
Companies206
- 7D-6.4%
- 3M-2.3%
- 1Y-9.2%
- YTD-6.3%
Over the last 7 days, the Tech industry has dropped 6.4%, driven by ASMPT declining 30%. Meanwhile, Marketingforce Management actually outperformed within the industry, gaining 12% in the last week. However, the industry is down 9.2% over the past year. As for the next few years, earnings are expected to grow by 21% per annum.
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 |
|---|---|---|---|---|---|---|
| Fri, 26 Jul 2024 | HK$1.5t | HK$2.3t | HK$44.6b | 11.4x | 34.6x | 0.7x |
| Sun, 23 Jun 2024 | HK$1.7t | HK$2.3t | HK$41.9b | 12x | 41.4x | 0.8x |
| Tue, 21 May 2024 | HK$1.7t | HK$2.2t | HK$40.8b | 12.2x | 42.4x | 0.8x |
| Thu, 18 Apr 2024 | HK$1.5t | HK$2.3t | HK$44.5b | 11.1x | 33x | 0.7x |
| Sat, 16 Mar 2024 | HK$1.5t | HK$2.2t | HK$64.5b | 10.2x | 23.5x | 0.7x |
| Mon, 12 Feb 2024 | HK$1.3t | HK$2.3t | HK$64.4b | 9.3x | 20.3x | 0.6x |
| Wed, 10 Jan 2024 | HK$1.5t | HK$2.3t | HK$66.3b | 9.6x | 23.1x | 0.7x |
| Fri, 08 Dec 2023 | HK$1.5t | HK$2.3t | HK$66.4b | 9.9x | 23.3x | 0.7x |
| Sun, 05 Nov 2023 | HK$1.6t | HK$2.3t | HK$71.1b | 10.5x | 22.8x | 0.7x |
| Tue, 03 Oct 2023 | HK$1.5t | HK$2.3t | HK$71.0b | 10.1x | 21.1x | 0.7x |
| Thu, 31 Aug 2023 | HK$1.6t | HK$2.3t | HK$68.9b | 10.4x | 23.6x | 0.7x |
| Sat, 29 Jul 2023 | HK$1.6t | HK$2.4t | HK$81.4b | 9.9x | 19.9x | 0.7x |
| Mon, 26 Jun 2023 | HK$1.5t | HK$2.4t | HK$82.9b | 9x | 18.6x | 0.6x |
| Wed, 24 May 2023 | HK$1.6t | HK$2.5t | HK$80.1b | 8.7x | 19.8x | 0.6x |
| Fri, 21 Apr 2023 | HK$1.8t | HK$2.5t | HK$81.3b | 9.8x | 22.1x | 0.7x |
| Sun, 19 Mar 2023 | HK$1.7t | HK$2.5t | HK$72.2b | 8.3x | 23.8x | 0.7x |
| Tue, 14 Feb 2023 | HK$1.9t | HK$2.6t | HK$76.5b | 8.8x | 24.2x | 0.7x |
| Thu, 12 Jan 2023 | HK$1.8t | HK$2.6t | HK$76.3b | 8.2x | 23.1x | 0.7x |
| Sat, 10 Dec 2022 | HK$1.7t | HK$2.5t | HK$76.7b | 8.5x | 22.5x | 0.7x |
| Mon, 07 Nov 2022 | HK$1.5t | HK$2.5t | HK$77.4b | 7.9x | 19.9x | 0.6x |
| Wed, 05 Oct 2022 | HK$1.4t | HK$2.5t | HK$77.2b | 7.9x | 18.6x | 0.6x |
| Fri, 02 Sep 2022 | HK$1.7t | HK$2.6t | HK$79.4b | 8.9x | 21.1x | 0.6x |
| Sun, 31 Jul 2022 | HK$1.8t | HK$2.6t | HK$81.3b | 8.7x | 21.6x | 0.7x |
| Tue, 28 Jun 2022 | HK$2.1t | HK$2.6t | HK$82.4b | 8.5x | 24.9x | 0.8x |
| Thu, 26 May 2022 | HK$1.8t | HK$2.6t | HK$81.7b | 8.4x | 22.4x | 0.7x |
| Sat, 23 Apr 2022 | HK$1.8t | HK$2.6t | HK$90.3b | 9.4x | 20.1x | 0.7x |
| Mon, 21 Mar 2022 | HK$1.8t | HK$2.6t | HK$130.6b | 9.9x | 14.1x | 0.7x |
| Wed, 16 Feb 2022 | HK$2.1t | HK$2.5t | HK$123.2b | 11.1x | 17x | 0.8x |
| Fri, 14 Jan 2022 | HK$2.2t | HK$2.5t | HK$123.5b | 11x | 18x | 0.9x |
| Sun, 12 Dec 2021 | HK$2.3t | HK$2.5t | HK$123.4b | 11.3x | 19x | 0.9x |
| Tue, 09 Nov 2021 | HK$2.3t | HK$2.5t | HK$127.8b | 11x | 18x | 0.9x |
| Thu, 07 Oct 2021 | HK$2.2t | HK$2.4t | HK$126.6b | 11.1x | 17.6x | 0.9x |
| Sat, 04 Sep 2021 | HK$2.7t | HK$2.5t | HK$119.4b | 12.3x | 22.6x | 1.1x |
| Mon, 02 Aug 2021 | HK$2.7t | HK$2.5t | HK$119.4b | 12.1x | 22.4x | 1.1x |
Price to Earnings Ratio
22.4x
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 34.6x which is higher than its 3-year average PE of 22.7x.
- The industry is trading close to its 3-year average PS ratio of 0.73x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have declined 28% per year over the last three years,
- Revenues have also declined 2.7% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Hong Kong Tech sector?
| HK Market | -3.89% | |
| Tech | -6.40% | |
| IT | -1.88% | |
| Tech Hardware | -4.47% | |
| Electronic Equipment and Components | -6.97% | |
| Semiconductors | -7.56% | |
| Communications | -8.23% | |
| Software | -9.45% | |
Industry PE
- Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 16.0x.
- Analysts are expecting annual earnings growth of 22.0%, which is higher than its past year's earnings decline of 8.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Software industry, expecting annual earnings growth of 57% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 2556 Marketingforce Management | HK$97.30 | 12.4% +HK$2.5b | n/a | PS17.2x | |
| 2495 Shanghai Voicecomm Information Technology | HK$187.00 | 15.4% +HK$882.1m | n/a | PS7.6x | |
| 1523 Plover Bay Technologies | HK$4.34 | 11.9% +HK$506.2m | 75.7% | PE17.5x | |
| 2479 Tianju Dihe (Suzhou) Data | HK$73.50 | 10.4% +HK$345.8m | n/a | n/a | |
| 968 Xinyi Solar Holdings | HK$3.72 | 0.5% +HK$178.2m | -55.7% | PE7.9x |
