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Hong Kong (HSI) Telecom Sector Analysis

UpdatedDec 03, 2025
DataAggregated Company Financials
Companies132
  • 7D-0.3%
  • 3M2.3%
  • 1Y42.0%
  • YTD38.2%

The Telecom is pretty flat in the last 7 days, but NetEase has stood out, gaining 3.1%. The past year has been better, since the industry has gained 42% in that time. 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
Wed, 03 Dec 2025HK$10.3tHK$3.7tHK$546.4b15.3x18.8x2.8x
Fri, 31 Oct 2025HK$10.6tHK$3.6tHK$527.5b16.8x20x2.9x
Sun, 28 Sep 2025HK$10.5tHK$3.6tHK$525.6b17.5x20x2.9x
Tue, 26 Aug 2025HK$10.5tHK$3.6tHK$522.8b17.2x20.1x2.9x
Thu, 24 Jul 2025HK$9.8tHK$3.6tHK$503.3b17.2x19.6x2.8x
Sat, 21 Jun 2025HK$9.2tHK$3.6tHK$501.9b15.5x18.3x2.6x
Mon, 19 May 2025HK$9.1tHK$3.5tHK$498.3b14.1x18.2x2.6x
Wed, 16 Apr 2025HK$6.5tHK$2.3tHK$329.1b13x19.9x2.8x
Fri, 14 Mar 2025HK$8.9tHK$3.4tHK$454.3b12.1x19.6x2.6x
Sun, 09 Feb 2025HK$7.9tHK$3.4tHK$449.1b11.8x17.5x2.3x
Tue, 07 Jan 2025HK$7.5tHK$3.4tHK$446.0b11.6x16.9x2.2x
Thu, 05 Dec 2024HK$7.4tHK$3.4tHK$449.3b12x16.5x2.2x
Sat, 02 Nov 2024HK$7.4tHK$3.4tHK$439.5b11x16.9x2.2x
Mon, 30 Sep 2024HK$7.3tHK$3.4tHK$410.2b10.7x17.7x2.2x
Wed, 28 Aug 2024HK$6.7tHK$3.3tHK$406.8b10.6x16.5x2x
Fri, 26 Jul 2024HK$6.4tHK$3.2tHK$371.7b11.9x17.2x2x
Sun, 23 Jun 2024HK$6.7tHK$3.2tHK$370.0b11.4x18x2.1x
Tue, 21 May 2024HK$6.9tHK$3.2tHK$365.0b12.3x18.8x2.1x
Thu, 18 Apr 2024HK$5.8tHK$3.2tHK$345.7b11.1x16.9x1.8x
Sat, 16 Mar 2024HK$5.6tHK$3.2tHK$427.0b12.5x13.1x1.8x
Mon, 12 Feb 2024HK$5.6tHK$3.2tHK$428.2b12.7x13x1.7x
Wed, 10 Jan 2024HK$5.5tHK$3.2tHK$426.3b12.3x12.9x1.7x
Fri, 08 Dec 2023HK$5.7tHK$3.2tHK$425.7b13x13.3x1.8x
Sun, 05 Nov 2023HK$5.6tHK$3.1tHK$408.4b9.7x13.8x1.8x
Tue, 03 Oct 2023HK$5.9tHK$3.1tHK$408.5b11.5x14.4x1.9x
Thu, 31 Aug 2023HK$6.1tHK$3.1tHK$406.1b11.8x14.9x2x
Sat, 29 Jul 2023HK$6.4tHK$3.1tHK$388.1b13.1x16.5x2.1x
Mon, 26 Jun 2023HK$6.1tHK$3.1tHK$388.2b14x15.7x2x
Wed, 24 May 2023HK$6.2tHK$3.1tHK$396.0b14.2x15.7x2x
Fri, 21 Apr 2023HK$6.6tHK$3.1tHK$393.9b14.7x16.7x2.1x
Sun, 19 Mar 2023HK$6.4tHK$3.1tHK$383.8b11x16.6x2x
Tue, 14 Feb 2023HK$6.5tHK$3.1tHK$391.5b11.2x16.5x2.1x
Thu, 12 Jan 2023HK$6.2tHK$3.1tHK$392.9b11.6x15.8x2x
Sat, 10 Dec 2022HK$5.6tHK$3.0tHK$380.9b10.5x14.7x1.8x
Price to Earnings Ratio

14.7x


Total Market Cap: HK$5.6tTotal Earnings: HK$380.9bTotal Revenue: HK$3.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Telecom Sector Price to Earnings3Y Average 16.7x202320242025
Current Industry PE
  • Investors are optimistic on the Hong Kong Communication Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 18.8x which is higher than its 3-year average PE of 16.7x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.8x.
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 Market0.65%
Telecom-0.27%
Entertainment2.37%
Telecom Services and Carriers1.70%
Wireless Telecom0.63%
Media-0.72%
Interactive Media and Services-1.39%
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 44.9%, which is higher than its past year's earnings decline of 13.6% per year.
  • Investors are most pessimistic about the Wireless Telecom industry, 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 45% 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
9999 NetEaseHK$224.403.1%
+HK$21.5b		61.3%PE17.8x
788 China TowerHK$12.786.7%
+HK$14.0b		25.3%PE18x
941 China MobileHK$87.800.6%
+HK$11.9b		21.5%PE12.1x
728 China TelecomHK$6.031.2%
+HK$6.4b		32.5%PE14.5x
2400 XDHK$72.954.9%
+HK$1.6b		204.0%PE23.6x

Latest News

1024
HK$68.95
Kuaishou Technology
7D
-2.4%
1Y
41.7%
941
HK$87.80
China Mobile
7D
0.6%
1Y
21.5%

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$12.78
China Tower
7D
6.7%
1Y
25.3%

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$9.12
China Unicom (Hong Kong)
7D
-0.5%
1Y
40.3%

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.
9899
HK$201.40
NetEase Cloud Music
7D
2.9%
1Y
57.8%

Returns At NetEase Cloud Music (HKG:9899) Are On The Way Up

Nov 30
Returns At NetEase Cloud Music (HKG:9899) Are On The Way Up
3888
HK$28.46
Kingsoft
7D
-3.5%
1Y
-8.5%
9999
HK$224.40
NetEase
7D
3.1%
1Y
61.3%

We Think NetEase's (HKG:9999) Profit Is Only A Baseline For What They Can Achieve

Nov 27
We Think NetEase's (HKG:9999) Profit Is Only A Baseline For What They Can Achieve
772
HK$37.02
China Literature
7D
-3.1%
1Y
29.9%

772: Share Buybacks And Measured Performance Will Shape Future Outlook

Analysts have raised their price target for China Literature from $39.17 to $40.06, citing minor improvements in projected revenue growth and future valuation metrics. What's in the News Between January 1, 2025 and May 30, 2025, China Literature repurchased 6,138,800 shares, amounting to 0.6% of its total shares, for HKD 152.84 million.
700
HK$617.00
Tencent Holdings
7D
-1.3%
1Y
52.6%

700: Accelerated Artificial Intelligence Investment Will Drive Continued Upside Momentum

Tencent Holdings' fair value estimate has been increased by analysts from $710.35 to $736.73 per share, based on stronger-than-expected Q3 results and optimistic projections for accelerated revenue and profit growth through continued investment in artificial intelligence. Analyst Commentary Recent street research offers an optimistic outlook for Tencent Holdings, reflecting shifts in both valuation and future growth expectations.
1860
HK$14.02
Mobvista
7D
-3.5%
1Y
82.1%
728
HK$6.03
China Telecom
7D
1.2%
1Y
32.5%
1357
HK$7.67
Meitu
7D
-9.6%
1Y
175.9%

1357: Addition To FTSE All-World Index Will Drive Increased Visibility

Analysts have modestly reduced their price target for Meitu from HK$13.04 to HK$12.77. They cite minor adjustments to the company's revenue growth and discount rate projections as the reasons for this change.
136
HK$2.35
China Ruyi Holdings
7D
-3.3%
1Y
8.8%

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

Nov 20
When Should You Buy China Ruyi Holdings Limited (HKG:136)?
2400
HK$72.95
XD
7D
4.9%
1Y
204.0%

There's Reason For Concern Over XD Inc.'s (HKG:2400) Price

Nov 20
There's Reason For Concern Over XD Inc.'s (HKG:2400) Price
1060
HK$0.90
Damai Entertainment Holdings
7D
3.4%
1Y
109.3%

Revenue Beat: Damai Entertainment Holdings Limited Beat Analyst Estimates By 11%

Nov 17
Revenue Beat: Damai Entertainment Holdings Limited Beat Analyst Estimates By 11%
6823
HK$11.90
HKT Trust and HKT
7D
1.7%
1Y
22.8%

HKT Trust and HKT (HKG:6823) Takes On Some Risk With Its Use Of Debt

Oct 22
HKT Trust and HKT (HKG:6823) Takes On Some Risk With Its Use Of Debt