Estimating The Fair Value Of VSTECS Holdings Limited (HKG:856)
Dec 23
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Hong Kong (HSI) Electronic Equipment and Components Industry Analysis
UpdatedDec 25, 2025
DataAggregated Company Financials
Companies79
- 7D0.4%
- 3M-12.4%
- 1Y23.1%
- YTD22.8%
Over the last 7 days, the Electronic Equipment and Components industry has risen 1.4%, driven by gains in Kingboard Holdings and Kingboard Laminates Holdings of 8.0% and 5.7%, respectively. This takes the industry's 12 month performance to a gain of 23%. Looking forward, earnings are forecast to grow by 25% annually.
Industry Valuation and Performance
Has the Hong Kong Electronic Equipment and Components Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 25 Dec 2025 | HK$454.6b | HK$614.7b | HK$18.1b | 12.3x | 25.1x | 0.7x |
| Sat, 22 Nov 2025 | HK$419.7b | HK$612.0b | HK$17.9b | 13.8x | 23.5x | 0.7x |
| Mon, 20 Oct 2025 | HK$464.6b | HK$610.4b | HK$17.0b | 14.9x | 27.3x | 0.8x |
| Wed, 17 Sep 2025 | HK$475.3b | HK$611.1b | HK$17.0b | 12.5x | 28x | 0.8x |
| Fri, 15 Aug 2025 | HK$468.3b | HK$593.2b | HK$14.3b | 12.5x | 32.9x | 0.8x |
| Sun, 13 Jul 2025 | HK$413.0b | HK$593.8b | HK$13.8b | 11.1x | 29.9x | 0.7x |
| Tue, 10 Jun 2025 | HK$378.6b | HK$592.6b | HK$11.0b | 10.6x | 34.5x | 0.6x |
| Thu, 08 May 2025 | HK$360.6b | HK$585.9b | HK$10.9b | 10x | 33.1x | 0.6x |
| Sat, 05 Apr 2025 | HK$383.7b | HK$585.1b | HK$10.9b | 10.1x | 35.3x | 0.7x |
| Mon, 03 Mar 2025 | HK$421.8b | HK$547.9b | HK$9.4b | 9.2x | 44.7x | 0.8x |
| Wed, 29 Jan 2025 | HK$382.9b | HK$549.6b | HK$8.9b | 8.4x | 43.2x | 0.7x |
| Fri, 27 Dec 2024 | HK$377.0b | HK$547.9b | HK$8.8b | 8.5x | 42.7x | 0.7x |
| Sun, 24 Nov 2024 | HK$351.7b | HK$548.4b | HK$8.8b | 8.7x | 40x | 0.6x |
| Tue, 22 Oct 2024 | HK$339.3b | HK$551.5b | HK$8.7b | 9.1x | 39.1x | 0.6x |
| Thu, 19 Sep 2024 | HK$282.2b | HK$550.5b | HK$8.8b | 7.9x | 32.1x | 0.5x |
| Sat, 17 Aug 2024 | HK$299.2b | HK$528.0b | HK$11.9b | 9.4x | 25.2x | 0.6x |
| Mon, 15 Jul 2024 | HK$335.2b | HK$524.9b | HK$11.0b | 10.5x | 30.6x | 0.6x |
| Wed, 12 Jun 2024 | HK$311.5b | HK$525.9b | HK$11.0b | 10.8x | 28.4x | 0.6x |
| Fri, 10 May 2024 | HK$304.5b | HK$528.3b | HK$10.6b | 10.3x | 28.6x | 0.6x |
| Sun, 07 Apr 2024 | HK$273.8b | HK$529.2b | HK$11.1b | 8.1x | 24.7x | 0.5x |
| Tue, 05 Mar 2024 | HK$269.0b | HK$540.4b | HK$13.1b | 7x | 20.5x | 0.5x |
| Thu, 01 Feb 2024 | HK$230.8b | HK$545.7b | HK$13.4b | 7.1x | 17.2x | 0.4x |
| Sat, 30 Dec 2023 | HK$324.7b | HK$546.6b | HK$12.3b | 7.7x | 26.4x | 0.6x |
| Mon, 27 Nov 2023 | HK$279.8b | HK$541.8b | HK$14.0b | 7.1x | 20x | 0.5x |
| Wed, 25 Oct 2023 | HK$260.2b | HK$540.6b | HK$13.9b | 7.2x | 18.7x | 0.5x |
| Fri, 22 Sep 2023 | HK$305.0b | HK$539.0b | HK$13.7b | 7.9x | 22.2x | 0.6x |
| Sun, 20 Aug 2023 | HK$281.3b | HK$578.7b | HK$18.1b | 7.7x | 15.5x | 0.5x |
| Tue, 18 Jul 2023 | HK$317.7b | HK$584.9b | HK$19.6b | 7.2x | 16.2x | 0.5x |
| Thu, 15 Jun 2023 | HK$319.3b | HK$588.1b | HK$20.2b | 6.3x | 15.8x | 0.5x |
| Sat, 13 May 2023 | HK$328.3b | HK$602.2b | HK$20.3b | 6.5x | 16.2x | 0.5x |
| Mon, 10 Apr 2023 | HK$350.7b | HK$603.6b | HK$20.4b | 6.7x | 17.2x | 0.6x |
| Wed, 08 Mar 2023 | HK$368.9b | HK$623.9b | HK$31.4b | 6.2x | 11.7x | 0.6x |
| Fri, 03 Feb 2023 | HK$394.2b | HK$627.5b | HK$31.7b | 6.7x | 12.4x | 0.6x |
| Sun, 01 Jan 2023 | HK$339.2b | HK$623.3b | HK$31.4b | 6.1x | 10.8x | 0.5x |
Price to Earnings Ratio
10.8x
Current Industry PE
- Investors are relatively neutral on the Hong Kong Electronic 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 26.5x.
- The industry is trading close to its 3-year average PS ratio of 0.61x.
Past Earnings Growth
- The earnings for companies in the Electronic industry have declined 17% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Hong Kong Tech industry?
| HK Market | 1.11% | |
| Tech | 1.01% | |
| Electronic Equipment and Components | 0.44% | |
| Technology Distributors | 2.54% | |
| Electronic Components | 0.38% | |
| Electronic Equipment and Instruments | 0.22% | |
| Electronic Manufacturing Services | 0.098% | |
Industry PE
- Investors are most optimistic about the Electronic Manufacturing Services industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 15.3%, which is higher than its past year's earnings growth of 3.1% per year.
- Investors are most pessimistic about the Technology Distributors industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 11.6x.
Forecasted Growth
- Analysts are most optimistic on the Electronic Equipment and Instruments industry, expecting annual earnings growth of 39% over the next 5 years.
- This is better than its past earnings decline of 10% per year.
- In contrast, the Technology Distributors 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 | |
|---|---|---|---|---|---|
| 148 Kingboard Holdings | HK$28.74 | 8.0% +HK$2.3b | 56.5% | PE11.8x | |
| 1888 Kingboard Laminates Holdings | HK$12.34 | 5.7% +HK$2.1b | 81.2% | PE25.3x | |
| 3393 Wasion Holdings | HK$17.28 | 5.0% +HK$826.6m | 142.0% | PE19.1x | |
| 2498 Robosense Technology | HK$37.88 | 4.8% +HK$812.2m | 30.2% | PS9.5x | |
| 2018 AAC Technologies Holdings | HK$38.60 | 1.2% +HK$532.1m | 3.5% | PE19.1x |
