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Hong Kong (HSI) Telecom Sector Analysis

UpdatedMay 06, 2026
DataAggregated Company Financials
Companies135
  • 7D0.1%
  • 3M-9.3%
  • 1Y-3.1%
  • YTD-16.9%

The Telecom is pretty flat in the last 7 days, but NetEase has stood out, gaining 3.7%. Unfortunately though, the industry is down 3.1% over the past 12 months. Earnings are forecast to grow by 8.1% annually.

Sector Valuation and Performance

Has the Hong Kong Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 06 May 2026HK$8.4tHK$3.8tHK$568.0b12.9x14.8x2.2x
Fri, 03 Apr 2026HK$8.4tHK$3.8tHK$565.3b12.8x14.9x2.2x
Sun, 01 Mar 2026HK$8.9tHK$3.8tHK$563.2b14.4x15.8x2.3x
Tue, 27 Jan 2026HK$9.7tHK$3.7tHK$556.1b16x17.5x2.6x
Thu, 25 Dec 2025HK$9.9tHK$3.7tHK$549.9b14.3x18x2.7x
Sat, 22 Nov 2025HK$10.1tHK$3.6tHK$543.7b15.7x18.5x2.8x
Mon, 20 Oct 2025HK$10.1tHK$3.6tHK$525.4b16.8x19.3x2.8x
Wed, 17 Sep 2025HK$10.7tHK$3.6tHK$527.1b17.3x20.3x3x
Fri, 15 Aug 2025HK$10.2tHK$3.6tHK$516.1b16.8x19.7x2.8x
Sun, 13 Jul 2025HK$9.2tHK$3.6tHK$502.8b16.3x18.2x2.6x
Tue, 10 Jun 2025HK$9.4tHK$3.6tHK$501.9b14.3x18.7x2.6x
Thu, 08 May 2025HK$8.8tHK$3.5tHK$484.5b12.6x18.1x2.5x
Sat, 05 Apr 2025HK$8.8tHK$3.4tHK$479.0b13.7x18.4x2.6x
Mon, 03 Mar 2025HK$8.5tHK$3.4tHK$451.6b11.9x18.7x2.5x
Wed, 29 Jan 2025HK$7.6tHK$3.4tHK$451.6b11.3x16.7x2.2x
Fri, 27 Dec 2024HK$7.7tHK$3.4tHK$446.5b12x17.2x2.3x
Sun, 24 Nov 2024HK$7.3tHK$3.4tHK$450.7b11x16.1x2.1x
Tue, 22 Oct 2024HK$7.1tHK$3.3tHK$404.4b11.5x17.7x2.2x
Thu, 19 Sep 2024HK$6.6tHK$3.3tHK$406.3b10.3x16.2x2x
Sat, 17 Aug 2024HK$6.6tHK$3.3tHK$402.2b10.8x16.3x2x
Mon, 15 Jul 2024HK$6.9tHK$3.2tHK$370.7b12.4x18.7x2.1x
Wed, 12 Jun 2024HK$6.7tHK$3.2tHK$370.6b11.4x18x2.1x
Fri, 10 May 2024HK$6.6tHK$3.2tHK$348.7b11.8x18.8x2x
Sun, 07 Apr 2024HK$5.9tHK$3.2tHK$345.9b11.3x16.9x1.8x
Tue, 05 Mar 2024HK$5.5tHK$3.2tHK$426.3b11.9x13x1.7x
Thu, 01 Feb 2024HK$5.4tHK$3.2tHK$429.1b12x12.6x1.7x
Sat, 30 Dec 2023HK$5.6tHK$3.2tHK$428.4b12.4x13.1x1.7x
Mon, 27 Nov 2023HK$5.9tHK$3.2tHK$424.2b12.9x13.8x1.8x
Wed, 25 Oct 2023HK$5.5tHK$3.1tHK$409.7b12x13.4x1.8x
Fri, 22 Sep 2023HK$5.9tHK$3.1tHK$407.2b11.5x14.4x1.9x
Sun, 20 Aug 2023HK$6.0tHK$3.1tHK$398.1b11.4x15.1x2x
Tue, 18 Jul 2023HK$6.4tHK$3.1tHK$388.1b13.6x16.4x2.1x
Thu, 15 Jun 2023HK$6.3tHK$3.1tHK$389.4b14.2x16.2x2x
Sat, 13 May 2023HK$6.2tHK$3.2tHK$393.4b14.5x15.8x2x
Price to Earnings Ratio

15.8x


Total Market Cap: HK$6.2tTotal Earnings: HK$393.4bTotal Revenue: HK$3.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Telecom Sector Price to Earnings3Y Average 16.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Hong Kong Communication Services 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 14.8x which is lower than its 3-year average PE of 16.8x.
  • The industry is trading close to its 3-year average PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 13% per year over the last three years.
  • Revenues for these companies have grown 6.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Hong Kong Telecom sector?

HK Market0.33%
Telecom0.13%
Media7.44%
Entertainment3.95%
Interactive Media and Services-0.13%
Telecom Services and Carriers-0.25%
Wireless Telecom-0.93%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 34.9%, which is higher than its past year's earnings decline of 3.1% per year.
  • Investors are most pessimistic about the Wireless Telecom industry, which is trading close to its 3-year average of 11.1x.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings decline of 3.1% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings grow by 3.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
9999 NetEaseHK$181.503.7%
+HK$20.7b		9.3%PE14.9x
1024 Kuaishou TechnologyHK$45.003.4%
+HK$6.4b		-15.2%PE9.1x
1860 MobvistaHK$18.1810.2%
+HK$2.6b		238.5%PE57.7x
1357 MeituHK$4.668.9%
+HK$1.7b		-13.7%PE25.2x
8 PCCWHK$6.152.5%
+HK$1.2b		15.6%PS1.2x

Latest News

1024
HK$45.00
Kuaishou Technology
7D
3.4%
1Y
-15.2%
3700
HK$0.84
Inkeverse Group
7D
29.2%
1Y
-42.9%
1357
HK$4.66
Meitu
7D
8.9%
1Y
-13.7%
772
HK$25.46
China Literature
7D
1.2%
1Y
-5.9%

772: Non Cash Goodwill Impairment Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for China Literature by HK$0.51 to HK$40.43, as they factor in a slightly lower future P/E assumption while keeping growth and margin expectations broadly unchanged. What's in the News The board has proposed amendments to the Memorandum of Association and Articles of Association to align with updated Listing Rules on paperless listing and to adopt a tenth amended and restated version of these documents, subject to shareholder approval by special resolution at the upcoming AGM (Key Developments).
6823
HK$12.60
HKT Trust and HKT
7D
-0.9%
1Y
10.5%
2400
HK$61.55
XD
7D
-4.0%
1Y
62.6%
728
HK$5.19
China Telecom
7D
-1.5%
1Y
-6.5%
1860
HK$18.18
Mobvista
7D
10.2%
1Y
238.5%
8
HK$6.15
PCCW
7D
2.5%
1Y
15.6%

8: Unchanged Fair Value And Upcoming Governance Vote Will Restrain Future Upside

Analysts have made only a marginal tweak to their PCCW valuation inputs, keeping the HK$5.1 price target unchanged as a slightly lower discount rate and future P/E assumptions offset each other. What's in the News PCCW plans to seek shareholder approval at the annual general meeting on May 21, 2026, for amendments to its Articles of Association and adoption of a new Articles of Association for the company (Key Developments).
941
HK$84.70
China Mobile
7D
-0.9%
1Y
2.0%

941: Dividend Policy And CEO Transition Will Support Future Upside Repricing

Analysts have lowered their fair value estimate for China Mobile from HK$98.38 to HK$96.01. This reflects updated views on slightly higher projected revenue growth, a marginally stronger profit margin, and a lower assumed future P/E multiple.
700
HK$463.00
Tencent Holdings
7D
-3.4%
1Y
-5.5%

700: Core Platforms Will Sustain Earnings Power As AI Partnerships Advance

Narrative Update Analysts have nudged the Tencent Holdings price target slightly higher to about HK$724. This reflects small model adjustments to fair value, discount rate, revenue growth and future P/E, while also factoring in fresh concerns about softer WeChat Pay and ad trends and potential AI chip supply constraints.
9999
HK$181.50
NetEase
7D
3.7%
1Y
9.3%

9999: Fair Value Will Reflect Higher Dividend And Completed Share Repurchases

Analysts have made a small upward adjustment to their HK$ price target for NetEase, supported by slightly higher assumptions for revenue growth, profit margin and fair value, together with a modestly lower future P/E multiple and a marginally higher discount rate. What's in the News NetEase approved an ordinary cash dividend of US$0.232 per share (US$1.16 per ADS) for the fourth quarter of 2025, payable in U.S. dollars to holders of ordinary shares and ADSs of record on March 16, 2026, with payment expected on March 25, 2026 for ordinary shares and on or around March 27, 2026 for ADSs (Key Developments).
788
HK$11.10
China Tower
7D
-1.1%
1Y
-3.6%
136
HK$1.34
China Ruyi Holdings
7D
-8.2%
1Y
-34.3%

China Ruyi Holdings Limited (HKG:136) Analysts Are More Bearish Than They Used To Be

Apr 09
China Ruyi Holdings Limited (HKG:136) Analysts Are More Bearish Than They Used To Be
2422
HK$1.03
Rego Interactive
7D
-34.8%
1Y
154.3%
326
HK$9.42
China Star Entertainment
7D
2.8%
1Y
558.7%