Investors Shouldn't Be Too Comfortable With Semiconductor Manufacturing International's (HKG:981) Earnings
Apr 02
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Hong Kong (HSI) Semiconductors Industry Analysis
UpdatedApr 03, 2026
DataAggregated Company Financials
Companies18
- 7D-5.3%
- 3M-26.8%
- 1Y27.9%
- YTDn/a
Over the last 7 days, the Semiconductors industry has dropped 7.2%, driven by a pullback from Semiconductor Manufacturing International of 4.0%. Over the past 12 months, the industry was up 33%. As for the next few years, earnings are expected to grow by 25% per annum.
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 |
|---|---|---|---|---|---|---|
| Fri, 03 Apr 2026 | HK$902.3b | HK$111.4b | HK$2.6b | 28.9x | 351.8x | 8.1x |
| Sun, 01 Mar 2026 | HK$1.1t | HK$103.5b | HK$1.5b | 16.4x | 720.7x | 10.5x |
| Tue, 27 Jan 2026 | HK$1.1t | HK$102.1b | HK$1.5b | 17.9x | 752.8x | 11.1x |
| Thu, 25 Dec 2025 | HK$995.7b | HK$101.6b | HK$2.2b | 17.1x | 453.1x | 9.8x |
| Sat, 22 Nov 2025 | HK$933.1b | HK$101.1b | HK$2.6b | 21.4x | 353.7x | 9.2x |
| Mon, 20 Oct 2025 | HK$965.8b | HK$98.2b | HK$2.4b | 23.9x | 403.8x | 9.8x |
| Wed, 17 Sep 2025 | HK$879.4b | HK$98.4b | HK$2.4b | 23.1x | 366.7x | 8.9x |
| Fri, 15 Aug 2025 | HK$733.3b | HK$98.8b | HK$4.9b | 22.7x | 148.8x | 7.4x |
| Sun, 13 Jul 2025 | HK$628.4b | HK$95.9b | HK$5.2b | 22.8x | 121.5x | 6.6x |
| Tue, 10 Jun 2025 | HK$592.7b | HK$96.0b | HK$5.1b | 22.2x | 116x | 6.2x |
| Thu, 08 May 2025 | HK$630.0b | HK$90.4b | HK$4.4b | 23.7x | 144.2x | 7x |
| Sat, 05 Apr 2025 | HK$612.4b | HK$90.5b | HK$4.4b | 23.1x | 139x | 6.8x |
| Mon, 03 Mar 2025 | HK$683.0b | HK$86.2b | HK$4.4b | 26.8x | 154.3x | 7.9x |
| Wed, 29 Jan 2025 | HK$545.6b | HK$85.6b | HK$4.8b | 22.3x | 113.2x | 6.4x |
| Fri, 27 Dec 2024 | HK$467.2b | HK$84.7b | HK$5.9b | 24x | 79.3x | 5.5x |
| Sun, 24 Nov 2024 | HK$422.0b | HK$84.8b | HK$5.9b | 21.6x | 71.9x | 5x |
| Tue, 22 Oct 2024 | HK$481.7b | HK$81.1b | HK$5.4b | 20.8x | 89.9x | 5.9x |
| Thu, 19 Sep 2024 | HK$243.7b | HK$81.3b | HK$5.4b | 11.5x | 45.3x | 3x |
| Sat, 17 Aug 2024 | HK$283.8b | HK$81.8b | HK$5.7b | 12.1x | 49.4x | 3.5x |
| Mon, 15 Jul 2024 | HK$287.4b | HK$80.4b | HK$8.1b | 12.2x | 35.3x | 3.6x |
| Wed, 12 Jun 2024 | HK$286.6b | HK$80.3b | HK$8.2b | 13.9x | 35.1x | 3.6x |
| Fri, 10 May 2024 | HK$256.9b | HK$79.4b | HK$10.4b | 13.4x | 24.7x | 3.2x |
| Sun, 07 Apr 2024 | HK$245.8b | HK$79.5b | HK$10.5b | 11.7x | 23.4x | 3.1x |
| Tue, 05 Mar 2024 | HK$277.5b | HK$79.4b | HK$12.2b | 12.3x | 22.7x | 3.5x |
| Thu, 01 Feb 2024 | HK$234.9b | HK$80.5b | HK$13.7b | 7.9x | 17.2x | 2.9x |
| Sat, 30 Dec 2023 | HK$298.0b | HK$80.0b | HK$13.5b | 10.3x | 22x | 3.7x |
| Mon, 27 Nov 2023 | HK$313.8b | HK$79.8b | HK$13.6b | 9.9x | 23.1x | 3.9x |
| Wed, 25 Oct 2023 | HK$308.4b | HK$82.8b | HK$17.4b | 8.5x | 17.7x | 3.7x |
| Fri, 22 Sep 2023 | HK$287.2b | HK$82.8b | HK$17.4b | 9.1x | 16.5x | 3.5x |
| Sun, 20 Aug 2023 | HK$279.9b | HK$82.4b | HK$17.1b | 8.7x | 16.4x | 3.4x |
| Tue, 18 Jul 2023 | HK$306.9b | HK$85.2b | HK$18.1b | 9.4x | 16.9x | 3.6x |
| Thu, 15 Jun 2023 | HK$335.1b | HK$85.4b | HK$18.2b | 9x | 18.5x | 3.9x |
| Sat, 13 May 2023 | HK$315.7b | HK$86.1b | HK$17.9b | 8.7x | 17.6x | 3.7x |
| Mon, 10 Apr 2023 | HK$378.4b | HK$88.4b | HK$19.2b | 9.6x | 19.7x | 4.3x |
Price to Earnings Ratio
19.7x
Current Industry PE
- Investors are optimistic on the Hong Kong Semiconductors industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 351x which is higher than its 3-year average PE of 150x.
- The 3-year average PS ratio of 5.7x is lower than the industry's current PS ratio of 8.4x.
Past Earnings Growth
- The earnings for companies in the Semiconductors industry have declined 48% per year over the last three years.
- Meanwhile revenues for these companies have grown 8.1% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Comparison
How does Hong Kong Semiconductors compare with similar industries?
| HK Market | 1.46% | |
| Tech | -2.65% | |
| Semiconductors | -4.68% | |
| Semiconductors | -5.31% | |
| Semiconductor Equipment | -1.06% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 6082 Shanghai Biren Technology | HK$29.50 | 0.7% +HK$487.8m | n/a | PS61.2x | |
| 6939 MEGAIN Holding (Cayman) | HK$1.92 | 3.8% +HK$36.3m | 317.4% | PS5.6x | |
| 650 Productive Technologies | HK$0.25 | 0.8% +HK$14.8m | 25.0% | PS9.5x | |
| 2878 Solomon Systech (International) | HK$0.36 | 1.4% +HK$12.5m | -17.0% | PE28.9x | |
| 243 QPL International Holdings | HK$0.41 | 6.6% +HK$8.7m | 83.3% | PE2.1x |
