Narrative Update • Jun 03
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- 7D-8.3%
- 3M23.0%
- 1Y99.2%
- YTD14.3%
Over the last 7 days, the Semiconductors industry has dropped 8.5%, driven by a pullback from Semiconductor Manufacturing International of 7.3%. This takes the industry's 12 month performance to a gain of 106%. Earnings are forecast to grow by 34% annually.
Industry Valuation and Performance
Has the Hong Kong Semiconductors Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 06 Jun 2026 | HK$1.5t | HK$188.5b | HK$2.1b | 23.7x | 722.6x | 8x |
| Mon, 04 May 2026 | HK$1.4t | HK$184.7b | HK$2.0b | 27x | 710.4x | 7.6x |
| Wed, 01 Apr 2026 | HK$1.0t | HK$185.7b | HK$1.7b | 27.8x | 628.7x | 5.6x |
| Fri, 27 Feb 2026 | HK$1.3t | HK$178.4b | -HK$4,820,845,813.63 | 23.9x | -262.8x | 7.1x |
| Sun, 25 Jan 2026 | HK$1.3t | HK$175.6b | -HK$4,685,615,013.20 | 25.2x | -285.3x | 7.6x |
| Tue, 23 Dec 2025 | HK$1.1t | HK$173.9b | -HK$3,427,610,719.77 | 27.7x | -324.7x | 6.4x |
| Thu, 20 Nov 2025 | HK$1.1t | HK$172.8b | -HK$2,876,933,538.31 | 26.8x | -394.1x | 6.6x |
| Sat, 18 Oct 2025 | HK$1.1t | HK$168.5b | -HK$3,435,481,726.07 | 23.9x | -323.7x | 6.6x |
| Mon, 15 Sep 2025 | HK$1.0t | HK$168.7b | -HK$3,437,424,511.18 | 22.6x | -294.3x | 6x |
| Wed, 13 Aug 2025 | HK$846.9b | HK$174.9b | HK$75.4m | 27.9x | 11234.5x | 4.8x |
| Fri, 11 Jul 2025 | HK$741.2b | HK$172.7b | HK$1.4b | 24.2x | 512.1x | 4.3x |
| Sun, 08 Jun 2025 | HK$680.3b | HK$172.6b | HK$1.4b | 20.9x | 488.5x | 3.9x |
| Tue, 06 May 2025 | HK$739.4b | HK$165.5b | HK$743.2m | 23.4x | 994.8x | 4.5x |
| Thu, 03 Apr 2025 | HK$731.1b | HK$166.3b | HK$1.5b | 23.1x | 488.7x | 4.4x |
| Sat, 01 Mar 2025 | HK$825.9b | HK$178.6b | HK$7.0b | 13.4x | 118.3x | 4.6x |
| Mon, 27 Jan 2025 | HK$722.9b | HK$178.5b | HK$7.5b | 12.4x | 95.9x | 4.1x |
| Wed, 25 Dec 2024 | HK$599.6b | HK$177.0b | HK$8.6b | 11.9x | 69.5x | 3.4x |
| Fri, 22 Nov 2024 | HK$607.8b | HK$177.8b | HK$8.6b | 13x | 70.6x | 3.4x |
| Sun, 20 Oct 2024 | HK$612.4b | HK$177.5b | HK$9.2b | 12.3x | 66.3x | 3.4x |
| Tue, 17 Sep 2024 | HK$366.4b | HK$178.0b | HK$9.2b | 9.6x | 39.6x | 2.1x |
| Thu, 15 Aug 2024 | HK$420.8b | HK$192.5b | HK$17.3b | 10.2x | 24.3x | 2.2x |
| Sat, 13 Jul 2024 | HK$443.1b | HK$190.2b | HK$19.2b | 11.4x | 23.1x | 2.3x |
| Mon, 10 Jun 2024 | HK$459.6b | HK$190.2b | HK$19.3b | 12.3x | 23.9x | 2.4x |
| Wed, 08 May 2024 | HK$448.2b | HK$189.5b | HK$21.5b | 12.4x | 20.8x | 2.4x |
| Fri, 05 Apr 2024 | HK$450.2b | HK$189.8b | HK$21.5b | 12.1x | 20.9x | 2.4x |
| Sun, 03 Mar 2024 | HK$444.1b | HK$198.7b | HK$36.5b | 11x | 12.2x | 2.2x |
| Tue, 30 Jan 2024 | HK$398.1b | HK$196.9b | HK$37.2b | 8.8x | 10.7x | 2x |
| Thu, 28 Dec 2023 | HK$450.1b | HK$196.8b | HK$37.2b | 10.2x | 12.1x | 2.3x |
| Sat, 25 Nov 2023 | HK$483.1b | HK$196.4b | HK$37.2b | 10.7x | 13x | 2.5x |
| Mon, 23 Oct 2023 | HK$490.9b | HK$196.6b | HK$40.8b | 9.7x | 12x | 2.5x |
| Wed, 20 Sep 2023 | HK$479.2b | HK$196.8b | HK$40.9b | 11.5x | 11.7x | 2.4x |
| Fri, 18 Aug 2023 | HK$494.3b | HK$188.2b | HK$42.4b | 9.7x | 11.7x | 2.6x |
| Sun, 16 Jul 2023 | HK$543.5b | HK$191.0b | HK$44.9b | 10.2x | 12.1x | 2.8x |
| Tue, 13 Jun 2023 | HK$543.1b | HK$191.4b | HK$45.0b | 10.8x | 12.1x | 2.8x |
Price to Earnings Ratio
12.1x
Current Industry PE
- Investors are optimistic on the Hong Kong Semiconductor industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 766x which is higher than its 3-year average PE of 421x.
- The 3-year average PS ratio of 4.1x is lower than the industry's current PS ratio of 8.5x.
Past Earnings Growth
- The earnings for companies in the Semiconductor industry have declined 64% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Hong Kong Tech industry?
| HK Market | -0.88% | |
| Tech | -3.92% | |
| Semiconductors | -8.25% | |
| Semiconductor Equipment | -6.89% | |
| Semiconductors | -8.47% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 178x.
- Analysts are expecting annual earnings growth of 33.6%, which is higher than its past year's earnings decline of 26.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Semiconductor Equipment industry, expecting annual earnings growth of 40% over the next 5 years.
- However this is lower than its past earnings growth rate of 70% per year.
- In contrast, the Semiconductors industry is expected to see its earnings grow by 34% 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 | |
|---|---|---|---|---|---|
| 2577 InnoScience (Suzhou) Technology Holding | HK$71.55 | 0.7% +HK$456.6m | 106.8% | PS46.5x | |
| 2726 Epiworld International | HK$106.20 | 0.7% +HK$297.9m | n/a | PE3284.8x | |
| 1679 Risecomm Group Holdings | HK$1.73 | 78.4% +HK$164.0m | 166.2% | PS3.5x | |
| 600 Axera Semiconductor | HK$18.53 | 0.7% +HK$76.6m | n/a | PS16.8x | |
| 85 China Electronics Huada Technology | HK$1.19 | 1.7% +HK$40.6m | -20.1% | PE10.3x |
