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Hong Kong (HSI) Telecom Services and Carriers Industry Analysis

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies8
  • 7D-2.6%
  • 3M-1.0%
  • 1Y10.2%
  • YTD12.4%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 2.7%, driven by declines in China Telecom and China Unicom (Hong Kong) of 2.2% and 3.8%, respectively. Meanwhile, APT Satellite Holdings actually outperformed within the industry, gaining 18% in the last week. Over the past 12 months, the industry was up 11%. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the Hong Kong Telecom Services and Carriers Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 31 Dec 2025HK$1.2tHK$1.2tHK$81.2b12.9x14.9x1x
Fri, 28 Nov 2025HK$1.3tHK$1.2tHK$80.1b14.5x16.4x1.1x
Sun, 26 Oct 2025HK$1.3tHK$1.2tHK$79.6b13.7x16.3x1.1x
Tue, 23 Sep 2025HK$1.3tHK$1.2tHK$78.9b13.3x16.3x1.1x
Thu, 21 Aug 2025HK$1.4tHK$1.2tHK$78.7b15.3x17.4x1.1x
Sat, 19 Jul 2025HK$1.4tHK$1.2tHK$77.3b14.5x17.9x1.1x
Mon, 16 Jun 2025HK$1.4tHK$1.2tHK$77.2b14.4x17.7x1.1x
Wed, 14 May 2025HK$1.3tHK$1.2tHK$76.6b14.3x17.5x1.1x
Fri, 11 Apr 2025HK$1.3tHK$1.2tHK$74.0b15.3x18x1.1x
Sun, 09 Mar 2025HK$1.4tHK$1.2tHK$74.4b15.2x19x1.2x
Tue, 04 Feb 2025HK$1.2tHK$1.2tHK$74.3b12.6x16.1x1x
Thu, 02 Jan 2025HK$1.2tHK$1.2tHK$73.5b12.8x16.5x1.1x
Sat, 30 Nov 2024HK$1.1tHK$1.2tHK$74.2b11.8x14.8x0.9x
Mon, 28 Oct 2024HK$1.1tHK$1.2tHK$74.0b10.6x15.3x1x
Wed, 25 Sep 2024HK$1.1tHK$1.2tHK$73.6b10.4x15.1x0.9x
Fri, 23 Aug 2024HK$1.1tHK$1.2tHK$72.7b10.8x15x0.9x
Sun, 21 Jul 2024HK$1.1tHK$1.1tHK$69.4b11.9x15.9x1x
Tue, 18 Jun 2024HK$1.0tHK$1.1tHK$69.5b10.5x14.5x0.9x
Thu, 16 May 2024HK$1.0tHK$1.2tHK$69.9b12.1x14.9x0.9x
Sat, 13 Apr 2024HK$1.0tHK$1.1tHK$68.5b11.8x14.8x0.9x
Mon, 11 Mar 2024HK$1.0tHK$606.9bHK$35.2b14.2x29x1.7x
Wed, 07 Feb 2024HK$990.2bHK$1.2tHK$68.3b11.2x14.5x0.9x
Fri, 05 Jan 2024HK$913.9bHK$1.2tHK$67.8b9.8x13.5x0.8x
Sun, 03 Dec 2023HK$907.6bHK$1.2tHK$68.0b9.8x13.4x0.8x
Tue, 31 Oct 2023HK$875.8bHK$1.1tHK$68.0b9.6x12.9x0.8x
Thu, 28 Sep 2023HK$952.8bHK$1.1tHK$66.8b11.4x14.3x0.8x
Sat, 26 Aug 2023HK$951.0bHK$1.1tHK$67.2b10.7x14.2x0.8x
Mon, 24 Jul 2023HK$986.9bHK$1.1tHK$65.4b12.1x15.1x0.9x
Wed, 21 Jun 2023HK$1.0tHK$1.1tHK$65.6b11.5x15.4x0.9x
Fri, 19 May 2023HK$1.1tHK$1.1tHK$66.8b12x15.7x0.9x
Sun, 16 Apr 2023HK$1.2tHK$1.1tHK$66.9b12.6x17.5x1x
Tue, 14 Mar 2023HK$1.2tHK$1.1tHK$66.3b13.2x17.8x1x
Thu, 09 Feb 2023HK$964.8bHK$1.1tHK$68.6b12.1x14.1x0.8x
Sat, 07 Jan 2023HK$852.4bHK$1.1tHK$67.8b10.8x12.6x0.8x
Price to Earnings Ratio

12.6x


Total Market Cap: HK$852.4bTotal Earnings: HK$67.8bTotal Revenue: HK$1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Telecom Services and Carriers Industry Price to Earnings3Y Average 15.7x20242025
Current Industry PE
  • Investors are relatively neutral on the Hong Kong Telecom 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 15.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.96x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have grown 6.2% per year over the last three years.
  • Revenues for these companies have grown 2.9% 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 industry?

HK Market0.27%
Telecom-0.42%
Telecom Services and Carriers-2.56%
Alternative Carriers1.49%
Integrated Telecom Services-2.59%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry, which is trading close to its 3-year average PE ratio of 15.8x.
    • Analysts are expecting annual earnings growth of 11.8%, which is higher than its past year's earnings growth of 5.2% per year.
  • Investors are most pessimistic about the Alternative Carriers industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.0x.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is better than its past earnings growth rate of 5.2% per year.
  • In contrast, the Alternative Carriers industry is expected to see its earnings grow by 3.3% 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
1045 APT Satellite HoldingsHK$2.5017.9%
+HK$352.9m		11.6%PE12.8x

Latest News

524
HK$0.27
Great Wall Terroir Holdings
7D
-11.7%
1Y
-19.7%

Market Still Lacking Some Conviction On Great Wall Terroir Holdings Limited (HKG:524)

Dec 29
Market Still Lacking Some Conviction On Great Wall Terroir Holdings Limited (HKG:524)
1045
HK$2.50
APT Satellite Holdings
7D
17.9%
1Y
11.6%
728
HK$5.43
China Telecom
7D
-2.2%
1Y
11.5%

728: Governance Reforms And Mobile Scale Will Support Balanced Forward Outlook

Analysts have nudged their price target on China Telecom modestly higher to reflect slightly faster expected revenue growth, marginally improved profit margins, and a small uplift in fair value to about $6.09 from roughly $6.07, even as future valuation multiples ease a bit. What's in the News Shareholders approved amendments to the Articles of Association, including abolishing the Supervisory Committee, as part of an update to China Telecom's corporate governance framework (company filing) The board proposed further amendments to the Articles of Association and related procedural rules to align with the new PRC Company Law, updated CSRC guidelines, Hong Kong listing rules, and the company's evolving business scope (company announcement) A special shareholders meeting scheduled for December 16, 2025 in Beijing will vote on governance rule changes, the election of independent non executive director Mr. Lee Sunny Wai Kwong, and his remuneration package (meeting notice) China Telecom reported 437.19 million mobile subscribers for the third quarter of 2025, highlighting steady growth in its core mobile base (operating statistics) A board meeting on October 21, 2025 will review and approve financial results for the nine months ended September 30, 2025 (board agenda) Valuation Changes Fair value per share has risen slightly to about HK$6.09 from roughly HK$6.07, reflecting a modest upward adjustment in intrinsic valuation.
788
HK$11.60
China Tower
7D
-2.6%
1Y
3.6%
6823
HK$11.50
HKT Trust and HKT
7D
-2.6%
1Y
19.8%

An Intrinsic Calculation For HKT Trust and HKT Limited (HKG:6823) Suggests It's 39% Undervalued

Dec 18
An Intrinsic Calculation For HKT Trust and HKT Limited (HKG:6823) Suggests It's 39% Undervalued
8
HK$5.70
PCCW
7D
-2.1%
1Y
26.1%

Does PCCW (HKG:8) Have A Healthy Balance Sheet?

Dec 18
Does PCCW (HKG:8) Have A Healthy Balance Sheet?
1310
HK$6.21
HKBN
7D
-1.6%
1Y
22.0%

1310: Dividend Outlook Will Support Stable Earnings Profile Amid Modest Risk Shift

Analysts have trimmed their price target on HKBN slightly, to HK$6.50 from HK$6.50. This reflects a marginally higher perceived risk profile driven by a modest increase in the discount rate, even as revenue growth, profit margins and valuation multiples remain effectively unchanged.
762
HK$7.89
China Unicom (Hong Kong)
7D
-3.8%
1Y
6.8%

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).
1883
HK$2.47
CITIC Telecom International Holdings
7D
-2.0%
1Y
6.0%

CITIC Telecom International Holdings (HKG:1883) Has Affirmed Its Dividend Of HK$0.06

Aug 20
CITIC Telecom International Holdings (HKG:1883) Has Affirmed Its Dividend Of HK$0.06