Ruihe Data Technology Holdings Limited's (HKG:3680) 25% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio
Dec 04
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Hong Kong (HSI) IT Industry Analysis
UpdatedJan 14, 2026
DataAggregated Company Financials
Companies36
- 7D13.2%
- 3M-4.1%
- 1Y16.5%
- YTD11.1%
The IT industry is up 13% in the last week, with Shenzhen Xunce Technology up 30%. During this same period, the Ruihe Data Technology Holdings underperformed, falling 18%. In the last 12 months, the industry was up 17%. Looking forward, earnings are forecast to grow by 32% annually.
Industry Valuation and Performance
Has the Hong Kong IT Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 14 Jan 2026 | HK$100.1b | HK$65.0b | HK$1.7b | 22.6x | 58.4x | 1.5x |
| Fri, 12 Dec 2025 | HK$75.7b | HK$63.6b | HK$1.8b | 20.6x | 42.5x | 1.2x |
| Sun, 09 Nov 2025 | HK$81.0b | HK$63.5b | HK$1.9b | 23.9x | 43.1x | 1.3x |
| Tue, 07 Oct 2025 | HK$88.8b | HK$63.6b | HK$1.9b | 26.2x | 47.2x | 1.4x |
| Thu, 04 Sep 2025 | HK$81.6b | HK$63.5b | HK$1.9b | 25.3x | 43.6x | 1.3x |
| Sat, 02 Aug 2025 | HK$82.5b | HK$60.7b | HK$250.9m | 24.7x | 329.1x | 1.4x |
| Mon, 30 Jun 2025 | HK$82.0b | HK$60.9b | HK$313.4m | 14.2x | 261.5x | 1.3x |
| Wed, 28 May 2025 | HK$82.4b | HK$61.2b | HK$346.0m | 12.9x | 238.1x | 1.3x |
| Fri, 25 Apr 2025 | HK$81.1b | HK$60.1b | HK$359.9m | 12.6x | 225.3x | 1.3x |
| Sun, 23 Mar 2025 | HK$79.4b | HK$60.1b | -HK$979,715,969.55 | 17.5x | -81x | 1.3x |
| Tue, 18 Feb 2025 | HK$81.8b | HK$59.9b | -HK$1,025,468,521.99 | 15.4x | -79.8x | 1.4x |
| Thu, 16 Jan 2025 | HK$57.3b | HK$59.5b | -HK$1,011,285,668.86 | 14.2x | -56.7x | 1x |
| Sat, 14 Dec 2024 | HK$57.1b | HK$59.8b | -HK$1,021,497,758.41 | 15.2x | -55.9x | 1x |
| Mon, 11 Nov 2024 | HK$57.3b | HK$60.7b | -HK$756,165,057.55 | 16.9x | -75.8x | 0.9x |
| Wed, 09 Oct 2024 | HK$57.2b | HK$61.6b | -HK$786,184,580.53 | 16.6x | -72.7x | 0.9x |
| Fri, 06 Sep 2024 | HK$46.4b | HK$60.8b | -HK$684,240,521.16 | 13.7x | -67.8x | 0.8x |
| Sun, 04 Aug 2024 | HK$48.3b | HK$60.3b | -HK$1,308,201,294.23 | 13x | -37x | 0.8x |
| Tue, 02 Jul 2024 | HK$47.0b | HK$59.2b | -HK$1,253,376,663.39 | 13x | -37.5x | 0.8x |
| Thu, 30 May 2024 | HK$47.1b | HK$58.6b | -HK$1,304,804,785.60 | 13.7x | -36.1x | 0.8x |
| Sat, 27 Apr 2024 | HK$44.1b | HK$58.4b | -HK$1,332,028,901.61 | 13.2x | -33.1x | 0.8x |
| Mon, 25 Mar 2024 | HK$44.2b | HK$58.7b | HK$937.5m | 9.6x | 47.2x | 0.8x |
| Wed, 21 Feb 2024 | HK$44.0b | HK$58.5b | HK$1.2b | 10.1x | 36.9x | 0.8x |
| Fri, 19 Jan 2024 | HK$48.5b | HK$59.6b | HK$1.1b | 10.6x | 44.6x | 0.8x |
| Sun, 17 Dec 2023 | HK$55.7b | HK$60.5b | HK$1.1b | 11.9x | 50.2x | 0.9x |
| Tue, 14 Nov 2023 | HK$57.1b | HK$59.3b | HK$1.1b | 11.4x | 50.4x | 1x |
| Thu, 12 Oct 2023 | HK$57.7b | HK$59.2b | HK$1.0b | 11.2x | 54.9x | 1x |
| Sat, 09 Sep 2023 | HK$56.9b | HK$56.9b | HK$901.8m | 11x | 63.1x | 1x |
| Mon, 07 Aug 2023 | HK$56.5b | HK$58.1b | HK$2.0b | 12.1x | 27.7x | 1x |
| Wed, 05 Jul 2023 | HK$52.7b | HK$57.9b | HK$2.0b | 12.1x | 25.9x | 0.9x |
| Fri, 02 Jun 2023 | HK$51.4b | HK$58.4b | HK$2.0b | 10.2x | 25.4x | 0.9x |
| Sun, 30 Apr 2023 | HK$51.8b | HK$57.6b | HK$1.9b | 10.2x | 26.9x | 0.9x |
| Tue, 28 Mar 2023 | HK$56.4b | HK$60.8b | HK$3.0b | 11.7x | 18.9x | 0.9x |
| Thu, 23 Feb 2023 | HK$120.1b | HK$74.6b | HK$4.9b | 11.2x | 24.3x | 1.6x |
| Sat, 21 Jan 2023 | HK$126.8b | HK$75.1b | HK$5.0b | 11.4x | 25.6x | 1.7x |
Price to Earnings Ratio
25.6x
Current Industry PE
- Investors are optimistic on the Hong Kong IT industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 58.4x which is higher than its 3-year average PE of 40.6x.
- The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
- The earnings for companies in the IT industry have declined 30% per year over the last three years,
- Revenues have also declined 4.7% 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 industry?
| HK Market | 1.01% | |
| Tech | 0.24% | |
| IT | 13.17% | |
| IT Consulting | 13.70% | |
| Internet Services and Infrastructure | 11.68% | |
| Data Processing Services | 7.92% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry which is trading above its 3-year average PE ratio of 23.6x.
- Analysts are expecting annual earnings growth of 48.7%, which is higher than its past year's earnings decline of 11.4% per year.
Forecasted Growth
- Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 49% over the next 5 years.
- This is better than its past earnings decline of 11% per year.
- In contrast, the Internet Services and Infrastructure industry is expected to see its earnings grow by 16% 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 | |
|---|---|---|---|---|---|
| 3317 Shenzhen Xunce Technology | HK$62.50 | 29.9% +HK$4.6b | n/a | PS32.9x | |
| 2436 LX Technology Group | HK$13.48 | 166.4% +HK$3.0b | 272.4% | PS1.7x | |
| 1686 SUNeVision Holdings | HK$5.45 | 15.2% +HK$2.9b | 40.8% | PE22.7x | |
| 354 Chinasoft International | HK$5.45 | 3.6% +HK$474.9m | 12.1% | PE22.4x | |
| 2477 WellCell Holdings | HK$11.56 | 2.3% +HK$260.0m | 105.3% | PE603.1x |
