There May Be Underlying Issues With The Quality Of China Unicom (Hong Kong)'s (HKG:762) Earnings
Sep 10
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Hong Kong (HSI) Telecom Sector Analysis
UpdatedSep 13, 2025
DataAggregated Company Financials
Companies130
- 7D5.1%
- 3M16.1%
- 1Y57.9%
- YTD43.1%
The Telecom industry is up 5.1% in the last week, with Tencent Holdings up 6.3%. In the same time, Mobvista was down 5.9%. This means that the industry has gained 58% over the past year. Earnings are forecast to grow by 9.8% annually.
Sector Valuation and Performance
Has the Hong Kong Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 13 Sep 2025 | HK$10.7t | HK$3.6t | HK$526.7b | 17.4x | 20.3x | 3x |
| Mon, 11 Aug 2025 | HK$9.9t | HK$3.5t | HK$505.5b | 16.8x | 19.5x | 2.8x |
| Wed, 09 Jul 2025 | HK$9.2t | HK$3.6t | HK$502.4b | 16.8x | 18.4x | 2.6x |
| Fri, 06 Jun 2025 | HK$9.3t | HK$3.6t | HK$502.0b | 14x | 18.5x | 2.6x |
| Sun, 04 May 2025 | HK$8.7t | HK$3.4t | HK$480.8b | 13.1x | 18.1x | 2.5x |
| Tue, 01 Apr 2025 | HK$8.8t | HK$3.4t | HK$480.1b | 14.1x | 18.2x | 2.5x |
| Thu, 27 Feb 2025 | HK$8.8t | HK$3.4t | HK$452.8b | 12.1x | 19.4x | 2.6x |
| Sat, 25 Jan 2025 | HK$7.4t | HK$3.4t | HK$451.6b | 11x | 16.4x | 2.2x |
| Mon, 23 Dec 2024 | HK$7.7t | HK$3.4t | HK$447.1b | 11.8x | 17.3x | 2.3x |
| Wed, 20 Nov 2024 | HK$7.4t | HK$3.4t | HK$449.7b | 11.4x | 16.4x | 2.2x |
| Fri, 18 Oct 2024 | HK$7.0t | HK$3.3t | HK$403.7b | 11x | 17.4x | 2.1x |
| Sun, 15 Sep 2024 | HK$6.5t | HK$3.3t | HK$406.7b | 10.5x | 15.9x | 1.9x |
| Tue, 13 Aug 2024 | HK$6.5t | HK$3.3t | HK$376.9b | 10.5x | 17.1x | 2x |
| Thu, 11 Jul 2024 | HK$6.7t | HK$3.2t | HK$369.6b | 12.1x | 18.1x | 2.1x |
| Sat, 08 Jun 2024 | HK$6.7t | HK$3.2t | HK$370.5b | 11.6x | 18x | 2.1x |
| Mon, 06 May 2024 | HK$6.5t | HK$3.2t | HK$348.0b | 11.5x | 18.7x | 2x |
| Wed, 03 Apr 2024 | HK$5.9t | HK$3.2t | HK$346.0b | 11.6x | 17x | 1.8x |
| Fri, 01 Mar 2024 | HK$5.5t | HK$3.2t | HK$426.3b | 11.9x | 12.9x | 1.7x |
| Sun, 28 Jan 2024 | HK$5.5t | HK$3.2t | HK$425.5b | 12.4x | 13x | 1.7x |
| Tue, 26 Dec 2023 | HK$5.3t | HK$3.2t | HK$425.9b | 12.8x | 12.5x | 1.7x |
| Thu, 23 Nov 2023 | HK$5.9t | HK$3.2t | HK$424.2b | 13.3x | 13.9x | 1.8x |
| Sat, 21 Oct 2023 | HK$5.6t | HK$3.1t | HK$407.2b | 12.4x | 13.8x | 1.8x |
| Mon, 18 Sep 2023 | HK$6.1t | HK$3.1t | HK$409.1b | 11.1x | 14.8x | 1.9x |
| Wed, 16 Aug 2023 | HK$6.2t | HK$3.1t | HK$388.8b | 11.8x | 16x | 2x |
| Fri, 14 Jul 2023 | HK$6.3t | HK$3.1t | HK$388.9b | 13.6x | 16.1x | 2x |
| Sun, 11 Jun 2023 | HK$6.3t | HK$3.1t | HK$391.4b | 14.6x | 16.1x | 2x |
| Tue, 09 May 2023 | HK$6.5t | HK$3.2t | HK$395.4b | 14.8x | 16.4x | 2x |
| Thu, 06 Apr 2023 | HK$6.8t | HK$3.1t | HK$398.0b | 12.7x | 17.1x | 2.2x |
| Sat, 04 Mar 2023 | HK$6.5t | HK$3.1t | HK$383.5b | 11.2x | 17x | 2.1x |
| Mon, 30 Jan 2023 | HK$6.7t | HK$3.1t | HK$392.6b | 12x | 17.1x | 2.1x |
| Wed, 28 Dec 2022 | HK$5.5t | HK$3.0t | HK$382.3b | 10.4x | 14.5x | 1.8x |
| Fri, 25 Nov 2022 | HK$5.0t | HK$3.0t | HK$371.8b | 10x | 13.4x | 1.7x |
| Sun, 23 Oct 2022 | HK$4.4t | HK$2.9t | HK$370.3b | 9.9x | 11.8x | 1.5x |
| Tue, 20 Sep 2022 | HK$5.1t | HK$3.0t | HK$382.0b | 10.2x | 13.4x | 1.7x |
Price to Earnings Ratio
13.4x
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 20.3x which is higher than its 3-year average PE of 16.2x.
- The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
- The earnings for companies in the Communication Services industry have grown 11% per year over the last three years.
- Revenues for these companies have grown 6.1% 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 | 2.64% | |
| Telecom | 5.14% | |
| Entertainment | 10.08% | |
| Interactive Media and Services | 6.04% | |
| Wireless Telecom | 2.35% | |
| Telecom Services and Carriers | 2.17% | |
| Media | -0.80% | |
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 27.2%, which is higher than its past year's earnings decline of 12.8% 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 10.5x.
Forecasted Growth
- Analysts are most optimistic on the Media industry, expecting annual earnings growth of 27% over the next 5 years.
- This is better than its past earnings decline of 13% per year.
- In contrast, the Wireless Telecom industry is expected to see its earnings grow by 4.0% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 700 Tencent Holdings | HK$643.50 | 6.3% +HK$344.0b | 71.7% | PE25.7x | |
| 9999 NetEase | HK$236.40 | 12.6% +HK$83.6b | 94.2% | PE20x | |
| 941 China Mobile | HK$87.85 | 2.3% +HK$43.2b | 23.6% | PE12.2x | |
| 762 China Unicom (Hong Kong) | HK$9.84 | 4.2% +HK$12.2b | 59.7% | PE12.9x | |
| 1024 Kuaishou Technology | HK$75.25 | 3.2% +HK$9.9b | 97.2% | PE18.4x |
