Analysis Article • Aug 27
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- 7D-1.0%
- 3M-17.7%
- 1Y17.9%
- YTD1.9%
Over the last 7 days, the Semiconductors industry has risen 1.8%, driven by gains from Hua Hong Grace Semiconductor of 5.1%. In the last 12 months, the industry was up 16%. Looking forward, earnings are forecast to grow by 32% 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, 29 Aug 2026 | HK$1.5t | HK$196.3b | HK$4.2b | 38.1x | 356x | 7.6x |
| Mon, 27 Jul 2026 | HK$1.7t | HK$190.0b | HK$1.9b | 19.7x | 891.6x | 8.7x |
| Wed, 24 Jun 2026 | HK$1.7t | HK$188.5b | HK$2.1b | 19.5x | 807.1x | 9x |
| Fri, 22 May 2026 | HK$1.5t | HK$188.3b | HK$2.1b | 25.7x | 691.3x | 7.8x |
| Sun, 19 Apr 2026 | HK$1.3t | HK$185.2b | HK$2.2b | 27.7x | 588.2x | 6.9x |
| Tue, 17 Mar 2026 | HK$1.2t | HK$177.5b | -HK$2,591,964,593.24 | 32.1x | -449.7x | 6.6x |
| Thu, 12 Feb 2026 | HK$1.2t | HK$176.6b | -HK$4,773,023,649.51 | 24.5x | -260.4x | 7x |
| Sat, 10 Jan 2026 | HK$1.3t | HK$175.4b | -HK$4,658,241,076.44 | 25x | -273x | 7.2x |
| Mon, 08 Dec 2025 | HK$1.1t | HK$173.6b | -HK$3,390,116,988.34 | 27x | -330x | 6.4x |
| Wed, 05 Nov 2025 | HK$1.1t | HK$170.1b | -HK$3,039,968,706.60 | 22.9x | -375.4x | 6.7x |
| Fri, 03 Oct 2025 | HK$1.3t | HK$168.8b | -HK$3,448,865,810.86 | 30.4x | -382.1x | 7.8x |
| Sun, 31 Aug 2025 | HK$1.0t | HK$173.0b | -HK$884,511,398.33 | 24.5x | -1148x | 5.9x |
| Tue, 29 Jul 2025 | HK$829.4b | HK$172.8b | HK$1.4b | 26.4x | 574.9x | 4.8x |
| Thu, 26 Jun 2025 | HK$724.8b | HK$172.8b | HK$1.4b | 23.6x | 523.7x | 4.2x |
| Sat, 24 May 2025 | HK$683.8b | HK$172.4b | HK$1.4b | 20.4x | 493x | 4x |
| Mon, 21 Apr 2025 | HK$727.7b | HK$167.2b | HK$1.6b | 21.6x | 461.2x | 4.4x |
| Wed, 19 Mar 2025 | HK$811.9b | HK$173.7b | HK$3.3b | 19.7x | 247x | 4.7x |
| Fri, 14 Feb 2025 | HK$763.1b | HK$178.1b | HK$7.6b | 12.8x | 100.9x | 4.3x |
| Sun, 12 Jan 2025 | HK$632.2b | HK$177.7b | HK$7.6b | 11.9x | 83.5x | 3.6x |
| Tue, 10 Dec 2024 | HK$593.1b | HK$177.3b | HK$8.6b | 13x | 69x | 3.3x |
| Thu, 07 Nov 2024 | HK$631.1b | HK$174.3b | HK$7.9b | 13.7x | 79.5x | 3.6x |
| Sat, 05 Oct 2024 | HK$558.9b | HK$177.9b | HK$9.2b | 14x | 60.6x | 3.1x |
| Mon, 02 Sep 2024 | HK$406.3b | HK$178.2b | HK$9.3b | 9.4x | 43.8x | 2.3x |
| Wed, 31 Jul 2024 | HK$403.6b | HK$189.7b | HK$19.1b | 10.4x | 21.2x | 2.1x |
| Fri, 28 Jun 2024 | HK$431.6b | HK$189.9b | HK$19.2b | 11.7x | 22.4x | 2.3x |
| Sun, 26 May 2024 | HK$425.8b | HK$190.1b | HK$19.3b | 11.7x | 22.1x | 2.2x |
| Tue, 23 Apr 2024 | HK$410.4b | HK$189.7b | HK$21.4b | 11x | 19.1x | 2.2x |
| Thu, 21 Mar 2024 | HK$480.9b | HK$189.5b | HK$22.7b | 13.5x | 21.2x | 2.5x |
| Sat, 17 Feb 2024 | HK$399.7b | HK$196.8b | HK$36.2b | 11x | 11.1x | 2x |
| Mon, 15 Jan 2024 | HK$438.2b | HK$197.2b | HK$37.3b | 10.5x | 11.7x | 2.2x |
| Wed, 13 Dec 2023 | HK$460.3b | HK$196.5b | HK$37.2b | 9.7x | 12.4x | 2.3x |
| Fri, 10 Nov 2023 | HK$507.0b | HK$198.0b | HK$40.5b | 11.1x | 12.5x | 2.6x |
| Sun, 08 Oct 2023 | HK$479.7b | HK$196.9b | HK$40.9b | 11.2x | 11.7x | 2.4x |
| Tue, 05 Sep 2023 | HK$536.8b | HK$197.3b | HK$41.0b | 12.3x | 13.1x | 2.7x |
Price to Earnings Ratio
13.1x
Current Industry PE
- Investors are pessimistic on the Hong Kong Semiconductor industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 352x which is lower than its 3-year average PE of 482x.
- The 3-year average PS ratio of 4.5x is lower than the industry's current PS ratio of 7.7x.
Past Earnings Growth
- The earnings for companies in the Semiconductor industry have declined 53% 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 | -0.095% | |
| Tech | 0.66% | |
| Semiconductors | -1.02% | |
| Semiconductor Equipment | 1.29% | |
| Semiconductors | -1.37% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry, which is trading close to its 3-year average PE ratio of 219x.
- Analysts are expecting annual earnings growth of 30.0%, which is lower than the prior year's growth of 44.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Semiconductor Equipment industry, expecting annual earnings growth of 50% over the next 5 years.
- However this is lower than its past earnings growth rate of 224% per year.
- In contrast, the Semiconductors industry is expected to see its earnings grow by 30% 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 | |
|---|---|---|---|---|---|
| 1347 Hua Hong Grace Semiconductor | HK$120.60 | 5.1% +HK$10.1b | 124.2% | PE260.2x | |
| 6082 Shanghai Biren Technology | HK$39.24 | 4.0% +HK$3.9b | n/a | PS84.3x | |
| 3800 GCL Technology Holdings | HK$0.79 | 9.7% +HK$2.3b | -36.8% | PS1.5x | |
| 600 Axera Semiconductor | HK$17.32 | 22.1% +HK$1.8b | n/a | PS15.6x | |
| 2658 Guangdong Tianyu Semiconductor | HK$38.30 | 4.4% +HK$629.2m | n/a | PS17.8x |
