Ruihe Data Technology Holdings Limited's (HKG:3680) 43% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio
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Hong Kong (HSI) IT Industry Analysis
UpdatedJan 23, 2026
DataAggregated Company Financials
Companies36
- 7D3.3%
- 3M1.5%
- 1Y22.7%
- YTD14.1%
The IT industry is up 3.3% in the last week, with SUNeVision Holdings up 21%. During this same period, the Shenzhen Xunce Technology underperformed, falling 6.1%. In the last 12 months, the industry was up 23%. Looking forward, earnings are forecast to grow by 31% 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 |
|---|---|---|---|---|---|---|
| Fri, 23 Jan 2026 | HK$102.8b | HK$65.0b | HK$1.7b | 23.5x | 60x | 1.6x |
| Sun, 21 Dec 2025 | HK$74.2b | HK$63.8b | HK$1.8b | 20.3x | 41.6x | 1.2x |
| Tue, 18 Nov 2025 | HK$79.3b | HK$63.6b | HK$1.9b | 21.3x | 42.1x | 1.2x |
| Thu, 16 Oct 2025 | HK$84.4b | HK$63.4b | HK$1.9b | 25.1x | 44.9x | 1.3x |
| Sat, 13 Sep 2025 | HK$85.5b | HK$63.5b | HK$1.9b | 25.5x | 45.9x | 1.3x |
| Mon, 11 Aug 2025 | HK$83.3b | HK$60.9b | HK$247.3m | 25.4x | 336.7x | 1.4x |
| Wed, 09 Jul 2025 | HK$81.6b | HK$61.0b | HK$277.6m | 16.9x | 294.1x | 1.3x |
| Fri, 06 Jun 2025 | HK$85.4b | HK$61.4b | HK$343.2m | 12.6x | 248.9x | 1.4x |
| Sun, 04 May 2025 | HK$84.2b | HK$60.1b | HK$360.4m | 12.8x | 233.7x | 1.4x |
| Tue, 01 Apr 2025 | HK$83.6b | HK$60.2b | HK$304.4m | 13.9x | 274.7x | 1.4x |
| Thu, 27 Feb 2025 | HK$91.1b | HK$60.1b | -HK$972,764,586.66 | 17.9x | -93.7x | 1.5x |
| Sat, 25 Jan 2025 | HK$57.2b | HK$60.1b | -HK$1,031,372,883.14 | 14.1x | -55.4x | 1x |
| Mon, 23 Dec 2024 | HK$57.4b | HK$59.6b | -HK$1,016,732,430.81 | 15.1x | -56.4x | 1x |
| Wed, 20 Nov 2024 | HK$56.3b | HK$60.3b | -HK$753,312,810.32 | 17.9x | -74.7x | 0.9x |
| Fri, 18 Oct 2024 | HK$56.3b | HK$62.6b | -HK$1,177,521,629.49 | 17x | -47.8x | 0.9x |
| Sun, 15 Sep 2024 | HK$46.5b | HK$60.8b | -HK$777,332,273.20 | 13.7x | -59.8x | 0.8x |
| Tue, 13 Aug 2024 | HK$47.0b | HK$60.1b | -HK$1,298,203,868.23 | 12.6x | -36.2x | 0.8x |
| Thu, 11 Jul 2024 | HK$49.9b | HK$59.5b | -HK$1,278,375,766.57 | 13.8x | -39x | 0.8x |
| Sat, 08 Jun 2024 | HK$46.3b | HK$58.6b | -HK$1,306,063,654.04 | 13.6x | -35.5x | 0.8x |
| Mon, 06 May 2024 | HK$45.6b | HK$58.4b | -HK$1,330,601,452.28 | 13.2x | -34.3x | 0.8x |
| Wed, 03 Apr 2024 | HK$44.3b | HK$58.4b | -HK$1,286,549,531.99 | 10.5x | -34.4x | 0.8x |
| Fri, 01 Mar 2024 | HK$45.6b | HK$58.8b | HK$1.2b | 9.7x | 38.7x | 0.8x |
| Sun, 28 Jan 2024 | HK$46.3b | HK$59.8b | HK$1.1b | 10.5x | 42.6x | 0.8x |
| Tue, 26 Dec 2023 | HK$53.6b | HK$60.5b | HK$1.1b | 11.1x | 48.4x | 0.9x |
| Thu, 23 Nov 2023 | HK$59.4b | HK$60.1b | HK$1.1b | 13.9x | 54.1x | 1x |
| Sat, 21 Oct 2023 | HK$54.7b | HK$59.1b | HK$1.1b | 11.3x | 50.1x | 0.9x |
| Mon, 18 Sep 2023 | HK$59.1b | HK$59.0b | HK$969.1m | 11.8x | 61x | 1x |
| Wed, 16 Aug 2023 | HK$52.6b | HK$57.4b | HK$2.1b | 12.1x | 24.5x | 0.9x |
| Fri, 14 Jul 2023 | HK$52.4b | HK$58.2b | HK$2.0b | 12.1x | 25.6x | 0.9x |
| Sun, 11 Jun 2023 | HK$53.3b | HK$58.3b | HK$2.0b | 10.1x | 26.5x | 0.9x |
| Tue, 09 May 2023 | HK$52.1b | HK$57.5b | HK$1.9b | 10x | 27.1x | 0.9x |
| Thu, 06 Apr 2023 | HK$53.6b | HK$57.7b | HK$1.9b | 12.7x | 28.6x | 0.9x |
| Sat, 04 Mar 2023 | HK$121.4b | HK$74.7b | HK$4.9b | 12.1x | 24.6x | 1.6x |
| Mon, 30 Jan 2023 | HK$129.8b | HK$75.0b | HK$5.0b | 11.4x | 26.2x | 1.7x |
Price to Earnings Ratio
26.2x
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 60.0x which is higher than its 3-year average PE of 40.9x.
- The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.6x.
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 | -0.61% | |
| Tech | -1.05% | |
| IT | 3.26% | |
| Internet Services and Infrastructure | 17.38% | |
| Data Processing Services | -1.11% | |
| IT Consulting | -1.61% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry which is trading above its 3-year average PE ratio of 24.3x.
- 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 | |
|---|---|---|---|---|---|
| 1686 SUNeVision Holdings | HK$6.21 | 19.4% +HK$4.1b | 63.9% | PE25.9x | |
| 1782 International Business Digital Technology | HK$5.08 | 21.0% +HK$704.0m | 26.4% | PS34.8x | |
| 861 Digital China Holdings | HK$2.86 | 3.2% +HK$150.6m | -3.4% | PS0.2x | |
| 2416 Edianyun | HK$2.83 | 9.7% +HK$123.9m | 62.6% | PE13.7x | |
| 862 Vision Values Holdings | HK$0.057 | 26.7% +HK$47.1m | 103.6% | PS0.6x |
