Maxnerva Technology Services Limited (HKG:1037) Held Back By Insufficient Growth Even After Shares Climb 26%
Jan 09
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Hong Kong (HSI) IT Industry Analysis
UpdatedJan 17, 2026
DataAggregated Company Financials
Companies36
- 7D9.7%
- 3M-1.8%
- 1Y15.5%
- YTD12.6%
In the last week, the IT industry is up 9.7%, with Shenzhen Xunce Technology up 39%. Meanwhile, Ruihe Data Technology Holdings actually underperformed within the industry, shrinking 10% in the last week. This takes the industry's 12 month performance to a gain of 15%. Looking forward, earnings are forecast to grow by 33% 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 |
|---|---|---|---|---|---|---|
| Sat, 17 Jan 2026 | HK$101.4b | HK$65.0b | HK$1.7b | 22x | 59.1x | 1.6x |
| Mon, 15 Dec 2025 | HK$76.3b | HK$63.7b | HK$1.8b | 21.1x | 42.8x | 1.2x |
| Wed, 12 Nov 2025 | HK$81.6b | HK$63.5b | HK$1.9b | 22x | 43.5x | 1.3x |
| Fri, 10 Oct 2025 | HK$88.3b | HK$63.5b | HK$1.9b | 25.8x | 46.9x | 1.4x |
| Sun, 07 Sep 2025 | HK$80.4b | HK$63.5b | HK$1.9b | 24.8x | 43.2x | 1.3x |
| Tue, 05 Aug 2025 | HK$82.7b | HK$61.0b | HK$246.8m | 24.5x | 334.9x | 1.4x |
| Thu, 03 Jul 2025 | HK$81.9b | HK$61.0b | HK$276.8m | 16.1x | 295.7x | 1.3x |
| Sat, 31 May 2025 | HK$82.0b | HK$61.3b | HK$345.7m | 13x | 237.1x | 1.3x |
| Mon, 28 Apr 2025 | HK$80.2b | HK$60.1b | HK$362.1m | 12.7x | 221.5x | 1.3x |
| Wed, 26 Mar 2025 | HK$76.9b | HK$60.1b | -HK$977,966,417.90 | 16.7x | -78.6x | 1.3x |
| Fri, 21 Feb 2025 | HK$80.9b | HK$59.9b | -HK$1,025,255,302.94 | 16x | -78.9x | 1.4x |
| Sun, 19 Jan 2025 | HK$57.6b | HK$59.5b | -HK$1,012,238,524.17 | 14.5x | -56.9x | 1x |
| Tue, 17 Dec 2024 | HK$56.5b | HK$59.7b | -HK$1,019,321,300.41 | 15.1x | -55.4x | 0.9x |
| Thu, 14 Nov 2024 | HK$56.1b | HK$60.5b | -HK$749,768,479.77 | 16.7x | -74.8x | 0.9x |
| Sat, 12 Oct 2024 | HK$55.7b | HK$61.4b | -HK$780,776,704.27 | 16.9x | -71.3x | 0.9x |
| Mon, 09 Sep 2024 | HK$46.4b | HK$60.8b | -HK$788,965,240.11 | 13.7x | -58.8x | 0.8x |
| Wed, 07 Aug 2024 | HK$47.3b | HK$60.3b | -HK$1,310,856,673.00 | 13x | -36.1x | 0.8x |
| Fri, 05 Jul 2024 | HK$46.5b | HK$59.2b | -HK$1,252,135,314.37 | 12.5x | -37.1x | 0.8x |
| Sun, 02 Jun 2024 | HK$46.5b | HK$58.7b | -HK$1,309,915,737.88 | 13.3x | -35.5x | 0.8x |
| Tue, 30 Apr 2024 | HK$44.0b | HK$58.4b | -HK$1,333,170,184.55 | 13.3x | -33x | 0.8x |
| Thu, 28 Mar 2024 | HK$43.0b | HK$58.8b | HK$1.0b | 9.8x | 42x | 0.7x |
| Sat, 24 Feb 2024 | HK$46.4b | HK$58.6b | HK$1.2b | 9.8x | 38.8x | 0.8x |
| Mon, 22 Jan 2024 | HK$48.1b | HK$59.8b | HK$1.1b | 10.4x | 44.2x | 0.8x |
| Wed, 20 Dec 2023 | HK$54.3b | HK$60.4b | HK$1.1b | 11.6x | 49x | 0.9x |
| Fri, 17 Nov 2023 | HK$56.8b | HK$59.5b | HK$1.1b | 12.3x | 50.7x | 1x |
| Sun, 15 Oct 2023 | HK$56.7b | HK$59.2b | HK$1.0b | 11.1x | 54x | 1x |
| Tue, 12 Sep 2023 | HK$61.0b | HK$58.9b | HK$969.2m | 10.8x | 62.9x | 1x |
| Thu, 10 Aug 2023 | HK$53.2b | HK$58.0b | HK$2.1b | 11.9x | 25.4x | 0.9x |
| Sat, 08 Jul 2023 | HK$51.5b | HK$57.9b | HK$2.0b | 12.1x | 25.3x | 0.9x |
| Mon, 05 Jun 2023 | HK$52.8b | HK$58.6b | HK$2.0b | 10.2x | 26.2x | 0.9x |
| Wed, 03 May 2023 | HK$51.8b | HK$57.6b | HK$1.9b | 10.2x | 26.9x | 0.9x |
| Fri, 31 Mar 2023 | HK$53.7b | HK$60.5b | HK$2.3b | 12.4x | 23.3x | 0.9x |
| Sun, 26 Feb 2023 | HK$119.8b | HK$74.3b | HK$4.9b | 12.2x | 24.4x | 1.6x |
| Tue, 24 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 59.1x which is higher than its 3-year average PE of 40.7x.
- 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 | 1.58% | |
| Tech | 3.25% | |
| IT | 9.72% | |
| IT Consulting | 13.68% | |
| Data Processing Services | 3.27% | |
| Internet Services and Infrastructure | -0.92% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry which is trading above its 3-year average PE ratio of 23.8x.
- Analysts are expecting annual earnings growth of 48.5%, 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 48% 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$67.45 | 39.4% +HK$6.1b | n/a | PS35.5x | |
| 2436 LX Technology Group | HK$14.50 | 23.3% +HK$967.9m | 300.6% | PS1.8x | |
| 354 Chinasoft International | HK$5.45 | 4.4% +HK$574.9m | 9.0% | PE22.4x | |
| 6657 Baiwang | HK$17.48 | 11.9% +HK$420.2m | -50.8% | PS4.9x | |
| 2477 WellCell Holdings | HK$12.02 | 3.4% +HK$400.0m | 105.5% | PE626.7x |