Investors Still Aren't Entirely Convinced By Kinetix Systems Holdings Limited's (HKG:8606) Revenues Despite 35% Price Jump
Jul 03
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Hong Kong (HSI) IT Industry Analysis
UpdatedJul 03, 2025
DataAggregated Company Financials
Companies36
- 7D-0.9%
- 3M-7.3%
- 1Y49.1%
- YTD20.5%
The IT is pretty flat in the last 7 days, but Baiwang has stood out, gaining 8.7%. The past year has been better, since the industry has gained 49% in that time. As for the next few years, earnings are expected to grow by 37% per annum.
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, 04 Jul 2025 | HK$81.9b | HK$61.0b | HK$276.8m | 16.1x | 295.7x | 1.3x |
| Sun, 01 Jun 2025 | HK$82.0b | HK$61.2b | HK$346.2m | 13x | 236.7x | 1.3x |
| Tue, 29 Apr 2025 | HK$80.5b | HK$60.0b | HK$363.1m | 12.7x | 221.7x | 1.3x |
| Thu, 27 Mar 2025 | HK$76.9b | HK$59.9b | -HK$981,112,968.21 | 16.9x | -78.4x | 1.3x |
| Sat, 22 Feb 2025 | HK$90.9b | HK$59.9b | -HK$1,024,865,149.45 | 16.2x | -88.7x | 1.5x |
| Mon, 20 Jan 2025 | HK$57.6b | HK$59.5b | -HK$1,012,238,524.17 | 14.5x | -56.9x | 1x |
| Wed, 18 Dec 2024 | HK$56.0b | HK$59.7b | -HK$1,018,019,906.72 | 15.1x | -55x | 0.9x |
| Fri, 15 Nov 2024 | HK$55.3b | HK$60.3b | -HK$742,711,886.97 | 16.9x | -74.5x | 0.9x |
| Sun, 13 Oct 2024 | HK$55.7b | HK$61.5b | -HK$781,907,637.58 | 16.9x | -71.2x | 0.9x |
| Tue, 10 Sep 2024 | HK$46.3b | HK$60.6b | -HK$782,471,453.30 | 13.7x | -59.2x | 0.8x |
| Thu, 08 Aug 2024 | HK$47.4b | HK$60.1b | -HK$1,301,310,487.97 | 13x | -36.4x | 0.8x |
| Sat, 06 Jul 2024 | HK$45.9b | HK$59.2b | -HK$1,253,946,535.12 | 12.5x | -36.6x | 0.8x |
| Mon, 03 Jun 2024 | HK$46.5b | HK$58.7b | -HK$1,309,915,737.88 | 13.3x | -35.5x | 0.8x |
| Wed, 01 May 2024 | HK$43.9b | HK$58.4b | -HK$1,333,281,610.49 | 13.2x | -32.9x | 0.8x |
| Fri, 29 Mar 2024 | HK$44.1b | HK$58.7b | HK$927.8m | 9.8x | 47.5x | 0.8x |
| Sun, 25 Feb 2024 | HK$46.4b | HK$58.6b | HK$1.2b | 9.3x | 39.4x | 0.8x |
| Tue, 23 Jan 2024 | HK$47.1b | HK$59.6b | HK$1.1b | 10.1x | 43.4x | 0.8x |
| Thu, 21 Dec 2023 | HK$54.0b | HK$60.4b | HK$1.1b | 11.2x | 48.8x | 0.9x |
| Sat, 18 Nov 2023 | HK$55.5b | HK$59.7b | HK$1.1b | 12x | 49.5x | 0.9x |
| Mon, 16 Oct 2023 | HK$56.7b | HK$59.2b | HK$1.1b | 10.8x | 51.9x | 1x |
| Wed, 13 Sep 2023 | HK$60.4b | HK$58.9b | HK$969.1m | 10.8x | 62.3x | 1x |
| Fri, 11 Aug 2023 | HK$53.0b | HK$57.9b | HK$2.1b | 11.8x | 25.3x | 0.9x |
| Sun, 09 Jul 2023 | HK$51.5b | HK$57.8b | HK$2.0b | 12.1x | 25.3x | 0.9x |
| Tue, 06 Jun 2023 | HK$53.1b | HK$58.4b | HK$2.0b | 10.2x | 26.4x | 0.9x |
| Thu, 04 May 2023 | HK$51.3b | HK$57.6b | HK$1.9b | 10.2x | 26.6x | 0.9x |
| Sat, 01 Apr 2023 | HK$52.8b | HK$57.8b | HK$1.9b | 13.4x | 28.1x | 0.9x |
| Mon, 27 Feb 2023 | HK$119.8b | HK$74.3b | HK$4.9b | 12.2x | 24.4x | 1.6x |
| Wed, 25 Jan 2023 | HK$126.8b | HK$75.1b | HK$5.0b | 11.4x | 25.6x | 1.7x |
| Fri, 23 Dec 2022 | HK$120.1b | HK$73.8b | HK$4.9b | 11.4x | 24.6x | 1.6x |
| Sun, 20 Nov 2022 | HK$110.9b | HK$72.9b | HK$4.8b | 11.2x | 23.2x | 1.5x |
| Tue, 18 Oct 2022 | HK$99.6b | HK$73.0b | HK$4.7b | 11.1x | 21x | 1.4x |
| Thu, 15 Sep 2022 | HK$108.4b | HK$74.3b | HK$4.8b | 12.4x | 22.4x | 1.5x |
| Sat, 13 Aug 2022 | HK$118.8b | HK$74.3b | HK$7.4b | 12x | 16x | 1.6x |
| Mon, 11 Jul 2022 | HK$126.8b | HK$73.9b | HK$7.5b | 11.7x | 16.9x | 1.7x |
Price to Earnings Ratio
16.9x
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 296x which is higher than its 3-year average PE of 22.8x.
- The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- The earnings for companies in the IT industry have declined 67% per year over the last three years,
- Revenues have also declined 6.2% 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 | -0.72% | |
| Tech | 2.76% | |
| IT | -0.92% | |
| IT Consulting | 1.56% | |
| Data Processing Services | -3.09% | |
| Internet Services and Infrastructure | -4.45% | |
Industry PE
- Investors are most optimistic about the Internet Services and Infrastructure industry which is trading above its 3-year average PE ratio of 22.8x.
- Analysts are expecting annual earnings growth of 18.9%, which is higher than its past year's earnings decline of 3.9% per year.
Forecasted Growth
- Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 61% over the next 5 years.
- This is better than its past earnings decline of 5.2% per year.
- In contrast, the Internet Services and Infrastructure industry is expected to see its earnings grow by 19% 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 | |
|---|---|---|---|---|---|
| 6657 Baiwang | HK$40.80 | 8.7% +HK$734.2m | n/a | PS12.8x | |
| 2512 Cloud Factory Technology Holdings | HK$3.30 | 27.9% +HK$331.2m | -13.4% | PE114.5x | |
| 2436 LX Technology Group | HK$2.83 | 46.6% +HK$317.9m | -41.5% | PS0.4x | |
| 2416 Edianyun | HK$2.25 | 7.1% +HK$76.5m | 22.3% | PE16.5x | |
| 771 Automated Systems Holdings | HK$0.82 | 10.8% +HK$66.7m | 43.9% | PE4.6x |
