Hong Kong (HSI) Application Software Industry Analysis

Industry Valuation and Performance

Has the Hong Kong Application Software Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 21 Jul 2026	HK$292.0b	HK$80.4b	-HK$24,454,960,106.14	29.4x	-11.9x	3.6x
Thu, 18 Jun 2026	HK$343.2b	HK$79.7b	-HK$24,493,694,207.01	31.9x	-14x	4.3x
Sat, 16 May 2026	HK$392.9b	HK$75.8b	-HK$24,388,805,450.37	32.5x	-16.1x	5.2x
Mon, 13 Apr 2026	HK$373.4b	HK$74.7b	-HK$23,826,262,372.68	36.2x	-15.7x	5x
Wed, 11 Mar 2026	HK$370.7b	HK$66.2b	-HK$8,039,897,586.66	17.9x	-46.1x	5.6x
Fri, 06 Feb 2026	HK$426.3b	HK$66.0b	-HK$7,848,964,140.29	25.2x	-54.3x	6.5x
Sun, 04 Jan 2026	HK$429.5b	HK$65.4b	-HK$7,760,578,838.67	26x	-55.3x	6.6x
Tue, 02 Dec 2025	HK$393.4b	HK$63.9b	-HK$7,673,376,208.83	26.4x	-51.3x	6.2x
Thu, 30 Oct 2025	HK$439.4b	HK$65.2b	-HK$8,460,016,526.77	24.3x	-51.9x	6.7x
Sat, 27 Sep 2025	HK$464.0b	HK$65.0b	-HK$8,431,216,739.87	22.8x	-55x	7.1x
Mon, 25 Aug 2025	HK$377.4b	HK$61.7b	-HK$7,411,638,857.52	28x	-50.9x	6.1x
Wed, 23 Jul 2025	HK$340.6b	HK$61.9b	-HK$9,768,177,519.22	28.1x	-34.9x	5.5x
Fri, 20 Jun 2025	HK$294.4b	HK$59.2b	-HK$9,706,239,894.59	28.5x	-30.3x	5x
Sun, 18 May 2025	HK$302.6b	HK$59.3b	-HK$9,650,545,656.06	30.7x	-31.4x	5.1x
Tue, 15 Apr 2025	HK$272.5b	HK$58.2b	-HK$9,436,435,744.44	29.7x	-28.9x	4.7x
Thu, 13 Mar 2025	HK$240.5b	HK$55.1b	-HK$9,927,915,750.20	25.5x	-24.2x	4.4x
Sat, 08 Feb 2025	HK$226.5b	HK$55.9b	-HK$10,211,723,315.00	26.2x	-22.2x	4x
Mon, 06 Jan 2025	HK$195.4b	HK$55.4b	-HK$10,214,663,858.69	19.5x	-19.1x	3.5x
Wed, 04 Dec 2024	HK$199.9b	HK$60.2b	-HK$9,681,019,644.51	16.6x	-20.6x	3.3x
Fri, 01 Nov 2024	HK$175.1b	HK$61.0b	-HK$13,056,325,503.07	15.2x	-13.4x	2.9x
Sun, 29 Sep 2024	HK$165.2b	HK$60.3b	-HK$12,847,880,736.85	16.1x	-12.9x	2.7x
Tue, 27 Aug 2024	HK$140.1b	HK$57.6b	-HK$13,575,758,707.45	13.9x	-10.3x	2.4x
Thu, 25 Jul 2024	HK$117.7b	HK$55.2b	-HK$12,265,388,320.20	15.1x	-9.6x	2.1x
Sat, 22 Jun 2024	HK$136.5b	HK$55.2b	-HK$14,779,977,266.89	16.6x	-9.2x	2.5x
Mon, 20 May 2024	HK$148.2b	HK$55.7b	-HK$14,867,707,477.84	15.9x	-10x	2.7x
Wed, 17 Apr 2024	HK$109.8b	HK$55.8b	-HK$14,896,180,065.07	16.6x	-7.4x	2x
Fri, 15 Mar 2024	HK$107.4b	HK$52.1b	-HK$14,381,720,374.39	11.5x	-7.5x	2.1x
Sun, 11 Feb 2024	HK$94.0b	HK$52.8b	-HK$14,674,753,067.21	10.6x	-6.4x	1.8x
Tue, 09 Jan 2024	HK$142.3b	HK$61.1b	-HK$14,155,339,449.00	9.5x	-10x	2.3x
Thu, 07 Dec 2023	HK$141.2b	HK$60.5b	-HK$14,263,052,461.00	16.6x	-9.9x	2.3x
Sat, 04 Nov 2023	HK$135.0b	HK$58.8b	-HK$8,155,680,839.00	12.5x	-16.6x	2.3x
Mon, 02 Oct 2023	HK$128.0b	HK$50.7b	-HK$8,650,499,602.00	14.5x	-14.8x	2.5x
Wed, 30 Aug 2023	HK$152.2b	HK$48.4b	-HK$8,516,066,744.00	20x	-17.9x	3.1x
Fri, 28 Jul 2023	HK$161.6b	HK$47.8b	-HK$9,396,201,291.00	22.8x	-17.2x	3.4x

Current Industry PE

Investors are pessimistic on the Hong Kong Application Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The 3-year average PS ratio of 4.1x is higher than the industry's current PS ratio of 3.6x.

Past Earnings Growth

The earnings for companies in the Application Software industry have deteriorated over the last three years.
Meanwhile revenues for these companies have grown 19% 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 caused losses to expand.

Industry Comparison

How does Hong Kong Application Software compare with similar industries?


HK Market	3.06%
Tech	-5.14%
Software	-2.62%
Application Software	-1.76%
Systems Software	-7.74%

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
2556 Marketingforce Management	HK$39.00	27.0% +HK$2.2b	-34.1%	PE101.4x
268 Kingdee International Software Group	HK$7.12	5.8% +HK$1.4b	-57.0%	PE232.5x
20 SenseTime Group	HK$1.36	2.3% +HK$1.3b	-17.1%	PS9.9x
9678 Unisound AI Technology	HK$68.70	5.3% +HK$257.6m	-87.8%	PS3.7x
9959 Linklogis	HK$1.83	7.0% +HK$222.1m	-28.8%	PS3x

Bairong Inc. Announces Board and Board Committee Changes, Effective June 30, 2026

Bairong Inc. announced that at the annual general meeting held on June 30, 2026, Mr. Zhou Hao retired as an independent non-executive Director upon conclusion of the AGM and ceased to be the chairman of the audit committee and a member of each of the remuneration committee, the nomination committee and the corporate governance committee of the Company with effect from the conclusion of the AGM. Mr. Zhou did not offer himself for re-election in order to devote more time to his other business commitments. The Board also announced that Mr. Zhang James Jian was appointed as an independent non-executive Director and Mr. Hong Hao was appointed as a non-executive Director, both with effect from June 30, 2026 after the conclusion of the AGM. Mr. Zhang, aged 55, has over 25 years’ experience in corporate finance and mergers and acquisitions. He worked as an audit manager at PricewaterhouseCoopers from 1995 to 2000. He subsequently served as the chief financial officer, chief information officer and board member of B&Q China from 2001 to 2005, the chief financial officer and vice president of China Paradise Electronics Retail Limited from 2005 to 2007; the chief financial officer of Cgen Digital Media Ltd. from 2007 to 2008; the chief financial officer of ALLYES Online Media, a subsidiary of Focus Media, from 2008 to 2011; and the chief financial officer of Lashou.com from 2011 to 2012. Mr. Zhang previously served as an independent director of Duoyuan Printing Inc. from September 2009 to April 2010. Mr. Zhang obtained a bachelor of arts degree from Bernard M. Baruch College in the United States in May 1993, a bachelor of science degree from Queen Mary and Westfield College in the United Kingdom in May 1995 and a master of business administration degree from the University of Cambridge in the United Kingdom in May 2002. He has been a Chartered Accountant and a member of The Institute of Chartered Accountants in England and Wales since 1999. Mr. Hong, aged 52, has extensive experience in macroeconomic analysis. He currently serves as the managing partner and chief investment officer of Lotus Asset Management Limited. Mr. Hong Hao has nearly three decades of experience in global macro research and cross-border markets. He is widely recognized as an authoritative strategist in China's capital market. He has previously held roles at leading financial institutions including BOCOM International. He has developed a distinctive framework for cycle analysis and asset allocation, having accurately predicted major turning points in China's capital markets on multiple occasions. His research is highly influential within the industry. Mr. Hong Hao's deep insights into cyclical trends and industry perspectives will enhance the Company's ability to interpret global liquidity movements and secondary market dynamics, ensuring that its strategic direction aligns with long-term capital market patterns. He will leverage his extensive market experience to support the Company in capital market value management, helping navigate complex market conditions and refine the system for communicating value to investors.He previously served as the chief global strategist of China International Capital Corporation Limited, the head of research of Bank of Communications International Holdings, and has worked in the London, New York and Sydney offices of international financial institutions including Citigroup and Morgan Stanley. Mr. Hong obtained a bachelor’s degree from the University of International Business and Economics in the PRC and a master’s degree from the Australian Graduate School of Management at the University of New South Wales in Australia. Mr. Hong is also a Chartered Financial Analyst charterholder. The Board further announced that Mr. Zhang, an independent non-executive Director, was appointed as the chairman of the Audit Committee, and a member of each of the Remuneration Committee, the Nomination Committee and the Corporate Governance Committee, in place of Mr. Zhou, with effect from June 30, 2026 after the conclusion of the AGM.

Hong Kong (HSI) Application Software Industry Analysis

Industry Valuation and Performance

Industry Comparison

Top Stock Gainers and Losers

Latest News

Co-Founder recently bought HK$216k worth of stock

New minor risk - Share price stability

New major risk - Share price stability

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Now 20% overvalued

Investor sentiment improves as stock rises 18%

Bairong Inc. Announces Board and Board Committee Changes, Effective June 30, 2026

Investor sentiment deteriorates as stock falls 18%

New major risk - Revenue and earnings growth

New minor risk - Insider selling

Upcoming dividend of HK$0.06 per share

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