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Hong Kong (HSI) Telecom Sector Analysis

UpdatedSep 21, 2026
DataAggregated Company Financials
Companies131
  • 7D-1.3%
  • 3M-3.2%
  • 1Y-28.7%
  • YTD-25.2%

Over the last 7 days, the Telecom industry has dropped 1.3%, driven by a pullback from Tencent Holdings of 2.2%. Meanwhile, Mobvista actually outperformed within the industry, gaining 30% in the last week. Overall the industry is down 29% in 12 months. Looking forward, earnings are forecast to grow by 5.7% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 21 Sep 2026HK$7.7tHK$3.9tHK$575.7b11.7x13.3x2x
Wed, 19 Aug 2026HK$8.1tHK$3.9tHK$584.6b11.2x13.8x2.1x
Fri, 17 Jul 2026HK$8.4tHK$3.9tHK$585.9b12x14.4x2.2x
Sun, 14 Jun 2026HK$8.3tHK$3.9tHK$585.7b11.4x14.2x2.1x
Tue, 12 May 2026HK$8.5tHK$3.9tHK$570.2b12.4x14.9x2.2x
Thu, 09 Apr 2026HK$8.7tHK$3.8tHK$571.1b13.1x15.2x2.3x
Sat, 07 Mar 2026HK$8.9tHK$3.8tHK$559.4b14.3x15.9x2.4x
Mon, 02 Feb 2026HK$9.9tHK$3.7tHK$557.5b15.7x17.7x2.6x
Wed, 31 Dec 2025HK$9.8tHK$3.7tHK$552.3b13.9x17.8x2.7x
Fri, 28 Nov 2025HK$10.2tHK$3.6tHK$544.6b15.5x18.7x2.8x
Sun, 26 Oct 2025HK$10.5tHK$3.6tHK$526.9b16.9x19.9x2.9x
Tue, 23 Sep 2025HK$10.6tHK$3.6tHK$526.6b17x20x2.9x
Thu, 21 Aug 2025HK$10.1tHK$3.6tHK$520.2b17.4x19.5x2.8x
Sat, 19 Jul 2025HK$9.5tHK$3.5tHK$502.1b17.5x18.9x2.7x
Mon, 16 Jun 2025HK$9.3tHK$3.6tHK$501.9b14.4x18.5x2.6x
Wed, 14 May 2025HK$8.9tHK$3.5tHK$488.3b13.7x18.2x2.6x
Fri, 11 Apr 2025HK$8.2tHK$3.4tHK$475.1b12.4x17.2x2.4x
Sun, 09 Mar 2025HK$9.2tHK$3.4tHK$455.0b12.7x20.3x2.7x
Tue, 04 Feb 2025HK$7.6tHK$3.4tHK$451.8b11.4x16.8x2.2x
Thu, 02 Jan 2025HK$7.7tHK$3.4tHK$446.5b11.4x17.2x2.3x
Sat, 30 Nov 2024HK$7.3tHK$3.4tHK$450.9b12x16.2x2.1x
Mon, 28 Oct 2024HK$7.5tHK$3.4tHK$437.8b11.8x17.1x2.2x
Wed, 25 Sep 2024HK$6.9tHK$3.3tHK$409.5b10.5x16.8x2.1x
Fri, 23 Aug 2024HK$6.6tHK$3.3tHK$405.8b10.5x16.4x2x
Sun, 21 Jul 2024HK$6.6tHK$3.2tHK$369.9b12.2x17.7x2x
Tue, 18 Jun 2024HK$6.6tHK$3.2tHK$370.5b11.3x17.9x2.1x
Thu, 16 May 2024HK$6.7tHK$3.2tHK$365.9b12.1x18.4x2.1x
Sat, 13 Apr 2024HK$5.9tHK$3.2tHK$345.9b11.7x17x1.8x
Mon, 11 Mar 2024HK$5.5tHK$2.6tHK$394.8b11.9x13.9x2.1x
Wed, 07 Feb 2024HK$5.6tHK$3.2tHK$431.3b12.8x13x1.7x
Fri, 05 Jan 2024HK$5.6tHK$3.2tHK$424.9b12.5x13.2x1.8x
Sun, 03 Dec 2023HK$5.8tHK$3.2tHK$425.9b13.2x13.6x1.8x
Tue, 31 Oct 2023HK$5.5tHK$3.1tHK$409.0b10.9x13.5x1.8x
Thu, 28 Sep 2023HK$5.8tHK$3.1tHK$407.4b11.4x14.3x1.9x
Price to Earnings Ratio

14.3x


Total Market Cap: HK$5.8tTotal Earnings: HK$407.4bTotal Revenue: HK$3.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Telecom Sector Price to Earnings3Y Average 16.6x202420252026
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 13.3x which is lower than its 3-year average PE of 16.6x.
  • The 3-year average PS ratio of 2.3x is higher than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 12% per year over the last three years.
  • Revenues for these companies have grown 8.1% 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-0.71%
Telecom-1.27%
Entertainment0.66%
Wireless Telecom0.19%
Telecom Services and Carriers-1.28%
Interactive Media and Services-2.17%
Media-4.44%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 96.6x.
    • Analysts are expecting annual earnings growth of 45.1%, which is higher than its past year's earnings growth of 0.3% per year.
  • Investors are most pessimistic about the Wireless Telecom industry, which is trading close to its 3-year average of 11.3x.
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 growth rate of 0.3% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings grow by 3.0% 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$12.7230.1%
+HK$5.0b		-28.9%PE35.9x
9999 NetEaseHK$183.600.8%
+HK$4.8b		-22.5%PE15.4x
941 China MobileHK$79.050.2%
+HK$3.3b		-8.0%PE11.1x
6823 HKT Trust and HKTHK$12.451.1%
+HK$985.7m		8.0%PE17.6x
3888 KingsoftHK$25.082.9%
+HK$948.9m		-28.9%PE10.3x

Latest News

728
HK$4.44
China Telecom
7D
-1.9%
1Y
-19.8%
Narrative Update • Sep 20

728: Interim Dividend Timeline Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for China Telecom from HK$7.98 to HK$7.72, reflecting updated views on revenue growth, profit margin and future P/E assumptions. What’s in the News for China Telecom China Telecom scheduled a board meeting on 20 August 2026 to approve interim results for the company and its subsidiaries and to consider an interim dividend for the six months ended 30 June 2026.
1357
HK$4.04
Meitu
7D
-4.0%
1Y
-56.5%
2597
HK$40.00
Beijing Xunzhong Communication Technology
7D
1.7%
1Y
88.3%
700
HK$419.00
Tencent Holdings
7D
-2.2%
1Y
-34.8%
Narrative Update • Sep 19

700: Monetization Proof Points Will Unlock Upside Despite Recent Neutral Ratings

Analysts have reduced their fair value estimate for Tencent Holdings to HK$859.10 from HK$877.00, citing updated assumptions around growth, profitability, and a higher future P/E. This is in line with recent price target reductions to HK$496 and HK$560 and reflects a more Neutral stance on the stock.
1860
HK$12.72
Mobvista
7D
30.1%
1Y
-28.9%
1024
HK$30.74
Kuaishou Technology
7D
-1.7%
1Y
-59.4%
Narrative Update • Sep 17

1024: AI Deployment In Core Commerce Will Drive Future Stock Upside

Kuaishou Technology's updated fair value estimate has been reduced from about HK$90.75 to about HK$78.86 as analysts factor in slower expected revenue growth, a softer profit margin outlook, and a series of downgrades tied to weaker core commerce trends and recent guidance. Analyst Commentary Recent Street research on Kuaishou Technology has turned more cautious, with several firms cutting ratings and resetting price targets after the latest earnings and guidance.
9999
HK$183.60
NetEase
7D
0.8%
1Y
-22.5%
Narrative Update • Sep 09

9999: Future Returns Will Reflect Higher Margins Dividend And Console Gaming Expansion

Analysts have raised their fair value estimate for NetEase from HK$194.02 to HK$198.97, citing updated assumptions for the discount rate, profit margin, revenue growth and future P/E. What’s in the News for NetEase NetEase Games and Starry Studio released Once Human on PlayStation 5 and Xbox Series X|S with cross play, cross progression and platform specific features including Xbox Game Pass perks and DualSense integration.
6823
HK$12.45
HKT Trust and HKT
7D
1.1%
1Y
8.0%
326
HK$5.92
China Star Entertainment
7D
2.1%
1Y
149.8%
8
HK$5.30
PCCW
7D
-2.1%
1Y
-0.2%
2723
HK$454.00
Beijing DeepZero Technology
7D
-20.1%
1Y
n/a
9911
HK$9.75
Newborn Town
7D
2.9%
1Y
-28.3%
3888
HK$25.08
Kingsoft
7D
2.9%
1Y
-28.9%
762
HK$5.73
China Unicom (Hong Kong)
7D
-1.6%
1Y
-40.3%
941
HK$79.05
China Mobile
7D
0.2%
1Y
-8.0%
1060
HK$0.49
Damai Entertainment Holdings
7D
-3.0%
1Y
-54.6%
Analysis Article • Jul 28

We Think Damai Entertainment Holdings' (HKG:1060) Profit Is Only A Baseline For What They Can Achieve

Damai Entertainment Holdings Limited ( HKG:1060 ) just reported healthy earnings but the stock price didn't move much...