Ruihe Data Technology Holdings Limited's (HKG:3680) 43% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio
Jan 19
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Hong Kong (HSI) IT Industry Analysis
UpdatedJan 21, 2026
DataAggregated Company Financials
Companies36
- 7D-0.7%
- 3M-2.0%
- 1Y15.1%
- YTD10.3%
The IT industry is up 7.0% in the last week, with International Business Digital Technology up 16%. In the last 12 months, the industry was up 18%. 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, 21 Jan 2026 | HK$99.4b | HK$65.1b | HK$1.7b | 22.2x | 57.9x | 1.5x |
| Fri, 19 Dec 2025 | HK$73.9b | HK$63.7b | HK$1.8b | 19.9x | 41.4x | 1.2x |
| Sun, 16 Nov 2025 | HK$78.5b | HK$63.6b | HK$1.9b | 21.3x | 41.6x | 1.2x |
| Tue, 14 Oct 2025 | HK$85.7b | HK$63.4b | HK$1.9b | 25.8x | 45.6x | 1.4x |
| Thu, 11 Sep 2025 | HK$83.1b | HK$63.5b | HK$1.9b | 24.5x | 44.6x | 1.3x |
| Sat, 09 Aug 2025 | HK$83.3b | HK$60.9b | HK$247.3m | 25.4x | 336.7x | 1.4x |
| Mon, 07 Jul 2025 | HK$84.5b | HK$61.0b | HK$276.4m | 21.6x | 305.7x | 1.4x |
| Wed, 04 Jun 2025 | HK$82.7b | HK$61.3b | HK$344.4m | 13x | 240.2x | 1.3x |
| Fri, 02 May 2025 | HK$83.4b | HK$60.2b | HK$361.0m | 12.9x | 231x | 1.4x |
| Sun, 30 Mar 2025 | HK$75.9b | HK$60.8b | -HK$760,793,527.49 | 14x | -99.8x | 1.2x |
| Tue, 25 Feb 2025 | HK$90.2b | HK$59.9b | -HK$1,026,885,497.43 | 18.1x | -87.8x | 1.5x |
| Thu, 23 Jan 2025 | HK$57.4b | HK$59.9b | -HK$1,026,795,980.85 | 14.2x | -55.9x | 1x |
| Sat, 21 Dec 2024 | HK$57.4b | HK$59.6b | -HK$1,015,370,774.79 | 15.1x | -56.5x | 1x |
| Mon, 18 Nov 2024 | HK$54.9b | HK$60.4b | -HK$756,021,333.29 | 17.4x | -72.6x | 0.9x |
| Wed, 16 Oct 2024 | HK$59.1b | HK$62.6b | -HK$1,177,566,988.15 | 16.8x | -50.2x | 0.9x |
| Fri, 13 Sep 2024 | HK$46.1b | HK$60.6b | -HK$782,575,048.55 | 13.7x | -58.9x | 0.8x |
| Sun, 11 Aug 2024 | HK$47.3b | HK$60.2b | -HK$1,303,850,328.35 | 12.7x | -36.3x | 0.8x |
| Tue, 09 Jul 2024 | HK$45.3b | HK$59.6b | -HK$1,280,398,212.21 | 13.1x | -35.4x | 0.8x |
| Thu, 06 Jun 2024 | HK$46.7b | HK$58.6b | -HK$1,305,009,088.73 | 13.7x | -35.8x | 0.8x |
| Sat, 04 May 2024 | HK$45.5b | HK$58.4b | -HK$1,331,570,485.06 | 13.2x | -34.2x | 0.8x |
| Mon, 01 Apr 2024 | HK$44.1b | HK$58.5b | -HK$1,290,723,241.50 | 10.6x | -34.2x | 0.8x |
| Wed, 28 Feb 2024 | HK$46.8b | HK$58.5b | HK$1.2b | 9.3x | 39.8x | 0.8x |
| Fri, 26 Jan 2024 | HK$47.1b | HK$59.7b | HK$1.1b | 10.9x | 43.4x | 0.8x |
| Sun, 24 Dec 2023 | HK$53.6b | HK$60.5b | HK$1.1b | 11x | 48.4x | 0.9x |
| Tue, 21 Nov 2023 | HK$56.7b | HK$59.9b | HK$1.1b | 13.5x | 51.6x | 0.9x |
| Thu, 19 Oct 2023 | HK$55.6b | HK$59.2b | HK$1.1b | 11.7x | 50.9x | 0.9x |
| Sat, 16 Sep 2023 | HK$59.4b | HK$59.0b | HK$969.1m | 11.5x | 61.3x | 1x |
| Mon, 14 Aug 2023 | HK$53.5b | HK$57.7b | HK$2.1b | 12.2x | 24.9x | 0.9x |
| Wed, 12 Jul 2023 | HK$51.5b | HK$58.0b | HK$2.0b | 12.1x | 25.3x | 0.9x |
| Fri, 09 Jun 2023 | HK$52.7b | HK$58.3b | HK$2.0b | 10x | 26.2x | 0.9x |
| Sun, 07 May 2023 | HK$51.6b | HK$57.6b | HK$1.9b | 10x | 26.8x | 0.9x |
| Tue, 04 Apr 2023 | HK$53.9b | HK$57.7b | HK$1.9b | 12.5x | 28.7x | 0.9x |
| Thu, 02 Mar 2023 | HK$122.5b | HK$75.0b | HK$5.0b | 12x | 24.7x | 1.6x |
| Sat, 28 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 60.1x which is higher than its 3-year average PE of 40.8x.
- 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 | -0.81% | |
| Tech | -1.63% | |
| IT | -0.68% | |
| Internet Services and Infrastructure | 0.80% | |
| IT Consulting | -1.20% | |
| Data Processing Services | -2.63% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry which is trading above its 3-year average PE ratio of 24.1x.
- Analysts are expecting annual earnings growth of 49.1%, 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$6.24 | 14.9% +HK$3.3b | 62.5% | PE26x | |
| 1782 International Business Digital Technology | HK$5.10 | 22.9% +HK$760.0m | 27.5% | PS35x | |
| 2477 WellCell Holdings | HK$11.93 | 2.8% +HK$320.0m | 105.0% | PE621.9x | |
| 2416 Edianyun | HK$2.74 | 6.2% +HK$79.4m | 53.9% | PE13.3x | |
| 1037 Maxnerva Technology Services | HK$0.77 | 6.9% +HK$35.3m | 170.2% | PE352x |
