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Hong Kong (HSI) Telecom Sector Analysis

UpdatedDec 20, 2025
DataAggregated Company Financials
Companies134
  • 7D-1.2%
  • 3M-5.2%
  • 1Y32.2%
  • YTD34.6%

Over the last 7 days, the Telecom industry has dropped 1.2%, driven by China Mobile declining 3.0%. In contrast, Newborn Town has gained 6.1%. In the past year, the industry has gained 32%. Looking forward, 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
Sat, 20 Dec 2025HK$10.1tHK$3.7tHK$548.3b14.4x18.3x2.7x
Mon, 17 Nov 2025HK$10.5tHK$3.6tHK$529.1b16.3x19.8x2.9x
Wed, 15 Oct 2025HK$10.3tHK$3.6tHK$524.7b16.8x19.6x2.9x
Fri, 12 Sep 2025HK$10.5tHK$3.6tHK$527.0b17.5x20x2.9x
Sun, 10 Aug 2025HK$9.9tHK$3.5tHK$505.5b16.8x19.5x2.8x
Tue, 08 Jul 2025HK$9.2tHK$3.6tHK$502.5b16.3x18.3x2.6x
Thu, 05 Jun 2025HK$9.2tHK$3.5tHK$501.3b14x18.4x2.6x
Sat, 03 May 2025HK$8.7tHK$3.4tHK$480.9b13.1x18.1x2.5x
Mon, 31 Mar 2025HK$8.8tHK$3.4tHK$479.5b14.7x18.5x2.6x
Wed, 26 Feb 2025HK$8.7tHK$3.4tHK$452.6b12.8x19.1x2.6x
Fri, 24 Jan 2025HK$7.3tHK$3.4tHK$449.1b11x16.2x2.2x
Sun, 22 Dec 2024HK$7.7tHK$3.4tHK$447.1b11.8x17.3x2.3x
Tue, 19 Nov 2024HK$7.4tHK$3.4tHK$450.4b11.5x16.3x2.2x
Thu, 17 Oct 2024HK$7.1tHK$3.3tHK$404.1b11.5x17.5x2.1x
Sat, 14 Sep 2024HK$6.5tHK$3.3tHK$406.6b10.5x15.9x1.9x
Mon, 12 Aug 2024HK$6.4tHK$3.3tHK$377.8b10.4x17.1x2x
Wed, 10 Jul 2024HK$6.8tHK$3.2tHK$369.9b11.8x18.3x2.1x
Fri, 07 Jun 2024HK$6.7tHK$3.2tHK$370.5b11.4x18.1x2.1x
Sun, 05 May 2024HK$6.5tHK$3.2tHK$348.0b11.5x18.7x2x
Tue, 02 Apr 2024HK$5.8tHK$3.2tHK$346.2b11.7x16.8x1.8x
Thu, 29 Feb 2024HK$5.5tHK$3.2tHK$426.1b12.1x13x1.7x
Sat, 27 Jan 2024HK$5.5tHK$3.2tHK$426.3b12.4x13x1.7x
Mon, 25 Dec 2023HK$5.3tHK$3.2tHK$426.2b12.8x12.4x1.7x
Wed, 22 Nov 2023HK$5.9tHK$3.2tHK$413.0b13x14.2x1.8x
Fri, 20 Oct 2023HK$5.7tHK$3.1tHK$407.4b12.1x13.9x1.8x
Sun, 17 Sep 2023HK$6.1tHK$3.1tHK$409.1b11.1x14.8x1.9x
Tue, 15 Aug 2023HK$6.2tHK$3.1tHK$389.9b12.1x16x2x
Thu, 13 Jul 2023HK$6.1tHK$3.1tHK$387.5b13.9x15.8x2x
Sat, 10 Jun 2023HK$6.3tHK$3.1tHK$391.2b14.6x16.1x2x
Mon, 08 May 2023HK$6.4tHK$3.2tHK$395.8b15.2x16.3x2x
Wed, 05 Apr 2023HK$6.8tHK$3.1tHK$398.0b12.7x17.1x2.2x
Fri, 03 Mar 2023HK$6.4tHK$3.1tHK$383.1b11x16.7x2.1x
Sun, 29 Jan 2023HK$6.7tHK$3.1tHK$392.6b12x17.1x2.1x
Tue, 27 Dec 2022HK$5.5tHK$3.0tHK$382.3b10.4x14.5x1.8x
Price to Earnings Ratio

14.5x


Total Market Cap: HK$5.5tTotal Earnings: HK$382.3bTotal 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-1.02%
Telecom-1.19%
Interactive Media and Services-0.39%
Entertainment-1.53%
Telecom Services and Carriers-1.80%
Media-2.52%
Wireless Telecom-2.99%
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 47.9%, which is higher than its past year's earnings decline of 13.6% per year.
  • Investors are most pessimistic about the Wireless Telecom industry, which is trading close to its 3-year average of 10.8x.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 48% 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
9911 Newborn TownHK$11.146.1%
+HK$859.3m		186.4%PE18.2x
2687 Shanghai Able Digital Science&TechHK$169.307.7%
+HK$806.7m		n/aPE107.5x
9890 TanwanHK$18.035.5%
+HK$494.0m		138.8%PE8.7x
136 China Ruyi HoldingsHK$2.271.3%
+HK$492.0m		-9.2%PE29.1x
326 China Star EntertainmentHK$2.269.2%
+HK$461.5m		352.0%PS6.9x

Latest News

136
HK$2.27
China Ruyi Holdings
7D
1.3%
1Y
-9.2%
9911
HK$11.14
Newborn Town
7D
6.1%
1Y
186.4%
326
HK$2.26
China Star Entertainment
7D
9.2%
1Y
352.0%
788
HK$11.86
China Tower
7D
-3.4%
1Y
5.9%

Here's Why We Think China Tower (HKG:788) Might Deserve Your Attention Today

Dec 17
Here's Why We Think China Tower (HKG:788) Might Deserve Your Attention Today
728
HK$5.57
China Telecom
7D
-1.4%
1Y
14.8%

Slowing Rates Of Return At China Telecom (HKG:728) Leave Little Room For Excitement

Dec 16
Slowing Rates Of Return At China Telecom (HKG:728) Leave Little Room For Excitement
762
HK$8.41
China Unicom (Hong Kong)
7D
-2.2%
1Y
17.6%

762: Expanding Connectivity Base Will Support Future Share Price Upside

Analysts have nudged their price target for China Unicom Hong Kong slightly higher to about $11.56 from roughly $11.52, citing marginally stronger expectations for revenue growth and profit margins, despite an unchanged discount rate and a modestly lower projected future P/E multiple. What's in the News Chief Executive Mr. Chen Zhongyue resigned effective 29 October 2025, citing a change in work arrangement, with the Board noting his role in driving reforms, innovation, and high quality development during his tenure (company announcement).
941
HK$83.90
China Mobile
7D
-3.0%
1Y
11.3%

941: Higher Profit Margins Will Support Stronger Share Performance Ahead

Analysts have nudged their price target for China Mobile slightly higher to approximately $103.22 from about $102.15, citing improved profit margin expectations that more than offset modestly lower growth assumptions and a slightly higher discount rate. Valuation Changes Fair Value: nudged higher from HK$102.15 to HK$103.22, reflecting a modest upward revision.
1024
HK$66.30
Kuaishou Technology
7D
-1.7%
1Y
55.1%

1024: AI Video Advances Will Drive Future Margin Expansion

Analysts have nudged their price target for Kuaishou Technology slightly higher, reflecting modest improvements in fair value estimates, discount rate assumptions, revenue growth expectations, profit margin outlook, and future P/E multiples. What's in the News Kling AI released the Kling Video 2.6 Model in December 2025, enabling one pass simultaneous generation of visuals, voiceovers, sound effects, and ambient audio in Chinese and English for up to 10 second clips, aimed at boosting production efficiency across advertising, social media, and e commerce use cases (Key Developments).
1060
HK$0.87
Damai Entertainment Holdings
7D
1.2%
1Y
85.1%
811
HK$10.45
Xinhua Winshare Publishing and Media
7D
1.4%
1Y
-8.0%

Xinhua Winshare Publishing and Media Co., Ltd.'s (HKG:811) Share Price Is Matching Sentiment Around Its Earnings

Dec 09
Xinhua Winshare Publishing and Media Co., Ltd.'s (HKG:811) Share Price Is Matching Sentiment Around Its Earnings
772
HK$32.72
China Literature
7D
-4.9%
1Y
19.9%

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$214.40
NetEase
7D
-1.8%
1Y
50.0%

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$18.03
Tanwan
7D
5.5%
1Y
138.8%
700
HK$614.00
Tencent Holdings
7D
-0.3%
1Y
44.0%

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.
2687
HK$169.30
Shanghai Able Digital Science&Tech
7D
7.7%
1Y
n/a
2660
HK$2.58
Zengame Technology Holding
7D
7.1%
1Y
-5.8%