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Hong Kong (HSI) Telecom Sector Analysis

UpdatedDec 11, 2025
DataAggregated Company Financials
Companies133
  • 7D-1.9%
  • 3M-4.9%
  • 1Y34.4%
  • YTD34.0%

Over the last 7 days, the Telecom industry has dropped 1.9%, driven by a pullback from Tencent Holdings of 1.7%. In contrast, Mobvista has gained 16%. In the past year, the industry has gained 34%. Earnings are forecast to grow by 10% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 11 Dec 2025HK$10.0tHK$3.7tHK$546.6b14.7x18.3x2.7x
Sat, 08 Nov 2025HK$10.4tHK$3.6tHK$527.5b16.6x19.7x2.9x
Mon, 06 Oct 2025HK$10.9tHK$3.6tHK$526.7b18.6x20.6x3x
Wed, 03 Sep 2025HK$10.2tHK$3.6tHK$526.5b17.6x19.3x2.8x
Fri, 01 Aug 2025HK$9.7tHK$3.5tHK$501.1b16.5x19.4x2.7x
Sun, 29 Jun 2025HK$9.3tHK$3.6tHK$502.5b16.2x18.5x2.6x
Tue, 27 May 2025HK$9.2tHK$3.5tHK$501.4b13.5x18.3x2.6x
Thu, 24 Apr 2025HK$8.5tHK$3.4tHK$478.7b12.7x17.7x2.5x
Sat, 22 Mar 2025HK$8.9tHK$3.4tHK$480.0b12.4x18.5x2.6x
Mon, 17 Feb 2025HK$8.5tHK$3.4tHK$450.7b12.2x18.9x2.5x
Wed, 15 Jan 2025HK$7.2tHK$3.4tHK$446.2b11x16.1x2.1x
Fri, 13 Dec 2024HK$7.6tHK$3.4tHK$448.9b12.4x17x2.3x
Sun, 10 Nov 2024HK$7.5tHK$3.4tHK$435.9b11.6x17.1x2.2x
Tue, 08 Oct 2024HK$7.9tHK$3.3tHK$409.5b12.8x19.4x2.4x
Thu, 05 Sep 2024HK$6.5tHK$3.3tHK$405.6b10.5x16.1x2x
Sat, 03 Aug 2024HK$6.4tHK$3.3tHK$373.4b11.5x17.2x2x
Mon, 01 Jul 2024HK$6.7tHK$3.2tHK$369.9b11.3x18.1x2.1x
Wed, 29 May 2024HK$6.7tHK$3.2tHK$370.4b11.7x18.2x2.1x
Fri, 26 Apr 2024HK$6.3tHK$3.2tHK$348.3b11.5x17.9x1.9x
Sun, 24 Mar 2024HK$5.7tHK$3.2tHK$345.6b12.8x16.4x1.8x
Tue, 20 Feb 2024HK$5.6tHK$3.2tHK$425.8b12.7x13.2x1.8x
Thu, 18 Jan 2024HK$5.3tHK$3.2tHK$423.2b12.1x12.6x1.7x
Sat, 16 Dec 2023HK$5.8tHK$3.2tHK$427.4b13.4x13.5x1.8x
Mon, 13 Nov 2023HK$5.6tHK$3.1tHK$408.7b12.5x13.8x1.8x
Wed, 11 Oct 2023HK$5.9tHK$3.1tHK$408.0b12.5x14.4x1.9x
Fri, 08 Sep 2023HK$6.0tHK$3.1tHK$406.8b11x14.7x1.9x
Sun, 06 Aug 2023HK$6.3tHK$3.1tHK$388.1b12.8x16.3x2.1x
Tue, 04 Jul 2023HK$6.2tHK$3.1tHK$384.9b14.4x16x2x
Thu, 01 Jun 2023HK$5.9tHK$3.1tHK$393.1b11.5x15.1x1.9x
Sat, 29 Apr 2023HK$6.4tHK$3.2tHK$395.5b14.5x16.3x2x
Mon, 27 Mar 2023HK$6.6tHK$3.1tHK$395.5b11.5x16.7x2.1x
Wed, 22 Feb 2023HK$6.3tHK$3.1tHK$388.2b11.9x16.3x2x
Fri, 20 Jan 2023HK$6.3tHK$3.1tHK$392.6b11.7x16x2x
Sun, 18 Dec 2022HK$5.5tHK$3.0tHK$380.5b10.6x14.4x1.8x
Price to Earnings Ratio

14.4x


Total Market Cap: HK$5.5tTotal Earnings: HK$380.5bTotal Revenue: HK$3.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Telecom Sector Price to Earnings3Y Average 16.8x202320242025
Current Industry PE
  • Investors are relatively neutral on the Hong Kong Communication Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 16.8x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.7x.
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 6.4% 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 Market-1.82%
Telecom-1.90%
Interactive Media and Services-1.26%
Wireless Telecom-1.37%
Entertainment-2.64%
Media-3.43%
Telecom Services and Carriers-4.81%
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 46.2%, which is higher than its past year's earnings decline of 13.6% per year.
  • Investors are most pessimistic about the Wireless Telecom industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 10.8x.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 46% over the next 5 years.
  • This is better than its past earnings decline of 14% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings grow by 4.4% 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
1860 MobvistaHK$16.4116.0%
+HK$3.5b		54.8%PS1.7x
9890 TanwanHK$15.7021.0%
+HK$1.4b		79.8%PE7.6x
9911 Newborn TownHK$9.482.7%
+HK$335.6m		141.2%PE15.5x
326 China Star EntertainmentHK$1.817.1%
+HK$291.5m		248.1%PS5.6x
2306 YH Entertainment GroupHK$2.3617.4%
+HK$290.7m		252.2%PE24x

Latest News

2306
HK$2.36
YH Entertainment Group
7D
17.4%
1Y
252.2%
772
HK$32.50
China Literature
7D
-9.2%
1Y
14.0%

772: Stable Margins And Earnings Multiple Will Support Strong Future Upside

Analysts have left their price target for China Literature unchanged, citing a consistent fair value of HKD 40.06. Stable revenue growth and profit margin expectations are seen as offsetting a slightly lower projected future P E multiple.
9999
HK$209.60
NetEase
7D
-3.5%
1Y
38.3%

9999: Upcoming Dividend Review And Completed Buyback Will Drive Future Market Optimism

Analysts have raised their price target on NetEase slightly to approximately $258, reflecting modestly stronger expectations for revenue growth, profit margins, and valuation multiples. What's in the News Chartmetric integrated chart data from NetEase Cloud Music, giving global music professionals structured access to China specific streaming charts and listening trends, especially among under 35 users (Key Developments) NetEase Cloud Music rankings added to Chartmetric include the China Hot 100 Songs Chart (weekly), International Hot 100 Songs Chart (weekly), and International New 100 Songs Chart (daily), enabling closer monitoring of breakout tracks in mainland China (Key Developments) From July 1, 2025 to September 30, 2025, NetEase repurchased no additional shares, but confirmed completion of its $2.0 billion buyback of 22.1 million shares under the November 17, 2022 authorization (Key Developments) NetEase scheduled a board meeting on November 19, 2025 to review unaudited results for the quarter ended September 30, 2025 and to consider a third quarter 2025 dividend (Key Developments) Valuation Changes The fair value estimate has risen slightly from 255.93 to 257.83, reflecting a modestly higher intrinsic value per share.
9890
HK$15.70
Tanwan
7D
21.0%
1Y
79.8%
700
HK$601.50
Tencent Holdings
7D
-1.7%
1Y
44.7%

700: Accelerated AI Investment Will Drive Higher-Quality Earnings And Multiple Expansion

Analysts have nudged their price target for Tencent Holdings higher, lifting fair value by about HK$6 per share as they point to strong recent results, tighter financial control, and expectations that accelerated revenue and profit growth from artificial intelligence investments will support a modestly higher future earnings multiple. Analyst Commentary Street research has turned more constructive on Tencent, with recent target and rating changes reflecting growing confidence in the companys execution, earnings trajectory, and ability to monetize artificial intelligence capabilities over the next several years.
3888
HK$28.34
Kingsoft
7D
0.6%
1Y
-16.2%

3888: Share Buyback And Earnings Momentum Will Drive Strong Future Performance

Analysts have trimmed their price target on Kingsoft slightly to approximately $40.87 from $41.54. This reflects modestly softer assumptions for long term revenue growth and profit margins, which are only partially offset by a marginally higher expected future price to earnings multiple.
941
HK$85.65
China Mobile
7D
-1.6%
1Y
14.9%

Here's What To Make Of China Mobile's (HKG:941) Decelerating Rates Of Return

Dec 03
Here's What To Make Of China Mobile's (HKG:941) Decelerating Rates Of Return
788
HK$12.05
China Tower
7D
-4.4%
1Y
11.6%

788: Board Structure Changes And Margin Outlook Will Shape Future Returns

China Tower’s analyst price target was slightly reduced from ¥13.36 to ¥13.13, as analysts cited marginally softer profit margin and revenue growth expectations. What's in the News Proposed amendments to China Tower's Articles of Association and Rules of Procedure, including the abolishment of the Supervisory Committee.
762
HK$8.55
China Unicom (Hong Kong)
7D
-4.5%
1Y
24.1%

762: Rising Connectivity Subscribers Will Drive Future Share Price Strength

Analysts have slightly raised their price target for China Unicom (Hong Kong) to approximately $11.52 from $11.45, citing modest improvements in revenue growth forecasts. What's in the News Mr. Chen Zhongyue will resign as Chief Executive of China Unicom (Hong Kong) effective 29 October 2025.
1860
HK$16.41
Mobvista
7D
16.0%
1Y
54.8%
728
HK$5.60
China Telecom
7D
-7.3%
1Y
17.4%
136
HK$2.20
China Ruyi Holdings
7D
-10.2%
1Y
-7.6%

When Should You Buy China Ruyi Holdings Limited (HKG:136)?

Nov 20
When Should You Buy China Ruyi Holdings Limited (HKG:136)?
547
HK$0.35
Digital Domain Holdings
7D
6.1%
1Y
-30.0%

What Digital Domain Holdings Limited's (HKG:547) P/S Is Not Telling You

Nov 14
What Digital Domain Holdings Limited's (HKG:547) P/S Is Not Telling You
326
HK$1.81
China Star Entertainment
7D
7.1%
1Y
248.1%

Is China Star Entertainment (HKG:326) A Risky Investment?

Nov 03
Is China Star Entertainment (HKG:326) A Risky Investment?
9911
HK$9.48
Newborn Town
7D
2.7%
1Y
141.2%

Here's Why Newborn Town (HKG:9911) Has Caught The Eye Of Investors

Oct 08
Here's Why Newborn Town (HKG:9911) Has Caught The Eye Of Investors
1970
HK$8.36
IMAX China Holding
7D
8.2%
1Y
9.3%