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May 13
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Hong Kong (HSI) Semiconductors Industry Analysis
UpdatedMay 13, 2025
DataAggregated Company Financials
Companies21
- 7D-4.9%
- 3M-3.0%
- 1Y56.2%
- YTD33.3%
Over the last 7 days, the Semiconductors industry has dropped 4.9%, driven by a pullback from Semiconductor Manufacturing International of 9.2%. Meanwhile, GCL Technology Holdings actually outperformed within the industry, gaining 13% in the last week. This takes the industry's 12 month performance to a gain of 56%. Looking forward, earnings are forecast to grow by 28% 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 |
|---|---|---|---|---|---|---|
| Wed, 14 May 2025 | HK$713.0b | HK$171.3b | HK$1.4b | 23.3x | 510.1x | 4.2x |
| Fri, 11 Apr 2025 | HK$702.2b | HK$165.6b | HK$1.5b | 21.8x | 458.4x | 4.2x |
| Sun, 09 Mar 2025 | HK$845.3b | HK$173.7b | HK$3.3b | 20.5x | 256.8x | 4.9x |
| Tue, 04 Feb 2025 | HK$710.5b | HK$178.5b | HK$7.5b | 12x | 94.2x | 4x |
| Thu, 02 Jan 2025 | HK$637.2b | HK$177.7b | HK$7.6b | 11.7x | 84.3x | 3.6x |
| Sat, 30 Nov 2024 | HK$594.9b | HK$177.7b | HK$8.6b | 13.4x | 69.3x | 3.3x |
| Mon, 28 Oct 2024 | HK$649.3b | HK$177.4b | HK$9.2b | 12.7x | 70.3x | 3.7x |
| Wed, 25 Sep 2024 | HK$391.2b | HK$178.4b | HK$9.2b | 9.7x | 42.3x | 2.2x |
| Fri, 23 Aug 2024 | HK$405.3b | HK$192.6b | HK$17.4b | 9.7x | 23.4x | 2.1x |
| Sun, 21 Jul 2024 | HK$449.3b | HK$190.0b | HK$19.2b | 11.5x | 23.4x | 2.4x |
| Tue, 18 Jun 2024 | HK$459.4b | HK$190.1b | HK$19.2b | 12.7x | 23.9x | 2.4x |
| Thu, 16 May 2024 | HK$448.5b | HK$190.2b | HK$19.3b | 12.6x | 23.3x | 2.4x |
| Sat, 13 Apr 2024 | HK$428.0b | HK$189.8b | HK$21.5b | 11.6x | 19.9x | 2.3x |
| Mon, 11 Mar 2024 | HK$464.3b | HK$198.7b | HK$36.5b | 13.1x | 12.7x | 2.3x |
| Wed, 07 Feb 2024 | HK$392.5b | HK$198.3b | HK$37.2b | 8.9x | 10.6x | 2x |
| Fri, 05 Jan 2024 | HK$446.9b | HK$197.2b | HK$37.3b | 10.7x | 12x | 2.3x |
| Sun, 03 Dec 2023 | HK$472.4b | HK$197.0b | HK$37.3b | 10.4x | 12.7x | 2.4x |
| Tue, 31 Oct 2023 | HK$504.2b | HK$195.5b | HK$40.2b | 10.1x | 12.5x | 2.6x |
| Thu, 28 Sep 2023 | HK$478.8b | HK$196.6b | HK$40.8b | 11.2x | 11.7x | 2.4x |
| Sat, 26 Aug 2023 | HK$483.0b | HK$188.4b | HK$42.5b | 9.9x | 11.4x | 2.6x |
| Mon, 24 Jul 2023 | HK$518.8b | HK$190.7b | HK$44.8b | 9.9x | 11.6x | 2.7x |
| Wed, 21 Jun 2023 | HK$567.7b | HK$190.9b | HK$44.9b | 10.4x | 12.7x | 3x |
| Fri, 19 May 2023 | HK$544.7b | HK$192.4b | HK$44.9b | 10.3x | 12.1x | 2.8x |
| Sun, 16 Apr 2023 | HK$625.9b | HK$196.4b | HK$46.7b | 11.1x | 13.4x | 3.2x |
| Tue, 14 Mar 2023 | HK$531.0b | HK$182.2b | HK$40.0b | 9.1x | 13.3x | 2.9x |
| Thu, 09 Feb 2023 | HK$556.6b | HK$181.9b | HK$40.7b | 8.4x | 13.7x | 3.1x |
| Sat, 07 Jan 2023 | HK$542.5b | HK$180.7b | HK$40.4b | 7.6x | 13.4x | 3x |
| Mon, 05 Dec 2022 | HK$522.0b | HK$178.9b | HK$40.4b | 7.2x | 12.9x | 2.9x |
| Wed, 02 Nov 2022 | HK$506.3b | HK$172.4b | HK$38.5b | 5.9x | 13.1x | 2.9x |
| Fri, 30 Sep 2022 | HK$494.1b | HK$172.8b | HK$38.9b | 6.5x | 12.7x | 2.9x |
| Sun, 28 Aug 2022 | HK$523.8b | HK$167.3b | HK$34.2b | 10.3x | 15.3x | 3.1x |
| Tue, 26 Jul 2022 | HK$548.9b | HK$157.0b | HK$36.1b | 10.8x | 15.2x | 3.5x |
| Thu, 23 Jun 2022 | HK$559.7b | HK$165.2b | HK$36.3b | 12.1x | 15.4x | 3.4x |
| Sat, 21 May 2022 | HK$553.4b | HK$165.0b | HK$36.3b | 10.4x | 15.3x | 3.4x |
Price to Earnings Ratio
15.3x
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 510x which is higher than its 3-year average PE of 53.8x.
- The 3-year average PS ratio of 2.9x is lower than the industry's current PS ratio of 4.2x.
Past Earnings Growth
- The earnings for companies in the Semiconductor industry have declined 66% 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 | 3.43% | |
| Tech | -1.50% | |
| Semiconductors | -4.87% | |
| Semiconductor Equipment | 2.52% | |
| Semiconductors | -6.07% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 39.2x.
- Analysts are expecting annual earnings growth of 23.2%, which is higher than its past year's earnings decline of 19.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Semiconductor Equipment industry, expecting annual earnings growth of 56% over the next 5 years.
- This is better than its past earnings decline of 73% per year.
- In contrast, the Semiconductors industry is expected to see its earnings grow by 23% 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 | |
|---|---|---|---|---|---|
| 3800 GCL Technology Holdings | HK$0.88 | 12.8% +HK$2.8b | -38.0% | PS1.5x | |
| 522 ASMPT | HK$55.70 | 4.6% +HK$1.0b | -43.3% | PE93.2x | |
| 6865 Flat Glass Group | HK$9.13 | 3.0% +HK$629.0m | -47.0% | PE55.8x | |
| 85 China Electronics Huada Technology | HK$1.43 | 0.7% +HK$20.3m | 0.7% | PE4.9x | |
| 712 Comtec Solar Systems Group | HK$0.077 | 22.2% +HK$14.8m | -50.3% | PS0.5x |
