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Hong Kong (HSI) Utilities Sector Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies58
  • 7D-3.6%
  • 3M-12.7%
  • 1Y-7.1%
  • YTD-5.6%

Over the last 7 days, the Utilities industry has dropped 3.6%, driven by Huaneng Power International declining 14%. Overall the industry is down 7.1% in 12 months. As for the next few years, earnings are expected to grow by 4.5% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Jun 2026HK$1.7tHK$1.7tHK$126.5b9.3x13.6x1x
Sun, 24 May 2026HK$1.9tHK$1.7tHK$126.7b9.9x14.9x1.1x
Tue, 21 Apr 2026HK$1.8tHK$1.7tHK$128.1b10.1x14.2x1.1x
Thu, 19 Mar 2026HK$1.9tHK$1.7tHK$130.6b9.2x14.3x1.1x
Sat, 14 Feb 2026HK$1.8tHK$1.7tHK$130.8b9.5x13.8x1.1x
Mon, 12 Jan 2026HK$1.7tHK$1.7tHK$130.0b9x13.4x1x
Wed, 10 Dec 2025HK$1.7tHK$1.7tHK$129.0b9.2x13.2x1x
Fri, 07 Nov 2025HK$1.8tHK$1.7tHK$129.1b9.8x13.8x1.1x
Sun, 05 Oct 2025HK$1.7tHK$1.7tHK$126.4b10x13.3x1x
Tue, 02 Sep 2025HK$1.8tHK$1.8tHK$132.1b10.2x14x1x
Thu, 31 Jul 2025HK$1.9tHK$1.8tHK$134.4b10.1x14.1x1x
Sat, 28 Jun 2025HK$1.8tHK$1.8tHK$133.2b9.3x13.4x1x
Mon, 26 May 2025HK$1.8tHK$1.8tHK$133.9b8.9x13.4x1x
Wed, 23 Apr 2025HK$1.7tHK$1.8tHK$132.5b8.5x12.8x0.9x
Fri, 21 Mar 2025HK$1.7tHK$1.8tHK$124.8b9.1x13.7x0.9x
Sun, 16 Feb 2025HK$1.6tHK$1.8tHK$119.8b8.3x13.7x0.9x
Tue, 14 Jan 2025HK$1.6tHK$1.8tHK$119.2b7.8x13.6x0.9x
Thu, 12 Dec 2024HK$1.7tHK$1.8tHK$119.6b8.6x14.4x1x
Sat, 09 Nov 2024HK$1.7tHK$1.8tHK$120.6b8.8x14.4x1x
Mon, 07 Oct 2024HK$1.8tHK$1.8tHK$124.9b9.8x14.4x1x
Wed, 04 Sep 2024HK$1.7tHK$1.8tHK$124.5b8.4x13.7x0.9x
Fri, 02 Aug 2024HK$1.8tHK$1.8tHK$123.5b8.9x14.2x1x
Sun, 30 Jun 2024HK$1.8tHK$1.8tHK$124.7b9.6x14x1x
Tue, 28 May 2024HK$1.8tHK$1.8tHK$125.4b9.7x14.2x1x
Thu, 25 Apr 2024HK$1.7tHK$1.8tHK$123.9b9x13.4x0.9x
Sat, 23 Mar 2024HK$1.7tHK$1.8tHK$121.5b8.1x13.6x0.9x
Mon, 19 Feb 2024HK$1.6tHK$1.8tHK$124.8b8.1x12.7x0.9x
Wed, 17 Jan 2024HK$1.6tHK$1.8tHK$124.8b8.3x12.7x0.9x
Fri, 15 Dec 2023HK$1.5tHK$1.8tHK$125.1b7.7x11.9x0.8x
Sun, 12 Nov 2023HK$1.5tHK$1.8tHK$125.9b8x11.7x0.8x
Tue, 10 Oct 2023HK$1.5tHK$1.8tHK$115.0b8x13x0.8x
Thu, 07 Sep 2023HK$1.5tHK$1.8tHK$115.2b8.3x13.2x0.8x
Sat, 05 Aug 2023HK$1.7tHK$1.8tHK$98.7b9.5x16.8x0.9x
Mon, 03 Jul 2023HK$1.7tHK$1.8tHK$92.2b9.9x18.7x1x
Price to Earnings Ratio

18.7x


Total Market Cap: HK$1.7tTotal Earnings: HK$92.2bTotal Revenue: HK$1.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Utilities Sector Price to Earnings3Y Average 13.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the Hong Kong Utilities 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 13.8x.
  • The industry is trading close to its 3-year average PS ratio of 0.96x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 11% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Hong Kong Utilities sector?

HK Market-3.76%
Utilities-3.59%
Electric Utilities1.76%
Water Utilities-3.00%
Gas Utilities-3.01%
Other Utilities-5.83%
Renewable Energy-7.22%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry, which is trading close to its 3-year average PE ratio of 16.9x.
    • Analysts are expecting annual earnings growth of 0.7%, which is lower than the prior year's growth of 1.5% per year.
  • Investors are most pessimistic about the Other Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 4.1x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 7.2% over the next 5 years.
  • This is better than its past earnings decline of 13% per year.
  • In contrast, the Electric Utilities industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
6 Power Assets HoldingsHK$58.704.4%
+HK$5.3b		15.0%PE20.1x
2 CLP HoldingsHK$74.752.2%
+HK$4.0b		12.0%PE18x
1038 CK Infrastructure HoldingsHK$59.952.5%
+HK$3.7b		13.2%PE18.3x
451 GCL New Energy HoldingsHK$0.898.5%
+HK$124.1m		128.2%PS1.3x
1853 Jilin Province Chuncheng HeatingHK$1.3211.9%
+HK$65.3m		-2.9%PE6.5x

Latest News

270
HK$7.66
Guangdong Investment
7D
-3.6%
1Y
14.5%
902
HK$5.55
Huaneng Power International
7D
-14.2%
1Y
5.7%
Narrative Update • Jun 25

902: Dividend Schedule And Higher Discount Rate Will Frame Balanced Outlook

Analysts have adjusted their price target for Huaneng Power International slightly lower to about HK$6.05, reflecting updated views on the stock's fair value, discount rate, and assumed future P/E multiple. What's in the News Huaneng Power International approved an ordinary final dividend of RMB 0.4 per share (equivalent to HK$0.45475 per share) for the year ended 31 December 2025, with payment scheduled for 14 August 2026, ex dividend date on 24 June 2026, record date on 2 July 2026, and shareholder approval on 16 June 2026.
991
HK$2.54
Datang International Power Generation
7D
-7.0%
1Y
20.4%
2688
HK$41.44
ENN Energy Holdings
7D
-6.5%
1Y
-33.9%
Narrative Update • Jun 23

2688: Fair Value Should Stay Supported As 2025 Dividend Review Approaches

Analysts have trimmed their price target for ENN Energy Holdings, citing updated assumptions that include a fair value estimate of HK$65.10, a revenue growth outlook of 2.02%, a profit margin of 5.58% and a future P/E of 11.62x. These compare with prior inputs of HK$72.38, 2.55%, 5.72% and 12.41x respectively.
2
HK$74.75
CLP Holdings
7D
2.2%
1Y
12.0%
Narrative Update • Jun 22

2: Stable Dividend Timetable And Steady Assumptions Will Guide Forward Expectations

Analysts have kept their CLP Holdings price target broadly unchanged at around HK$77.35, citing stable assumptions for the discount rate, revenue growth, profit margin and future P/E in their updated models. What's in the News CLP Holdings declared a first interim dividend of HK$0.63 per share for the year ending 31 December 2026, with an ex dividend date of 2 June 2026, a record date of 4 June 2026, and a payment date of 15 June 2026.
855
HK$4.46
China Water Affairs Group
7D
0.9%
1Y
-30.1%
527
HK$0.64
China Ruifeng Renewable Energy Holdings
7D
1.6%
1Y
n/a
1816
HK$2.76
CGN Power
7D
-3.8%
1Y
2.6%
135
HK$6.41
Kunlun Energy
7D
-3.8%
1Y
-17.0%
1193
HK$14.91
China Resources Gas Group
7D
-6.6%
1Y
-27.8%
384
HK$5.76
China Gas Holdings
7D
-8.0%
1Y
-23.0%
Analysis Article • May 27

At HK$7.16, Is It Time To Put China Gas Holdings Limited (HKG:384) On Your Watch List?

While China Gas Holdings Limited ( HKG:384 ) might not have the largest market cap around , it saw significant share...
1853
HK$1.32
Jilin Province Chuncheng Heating
7D
11.9%
1Y
-2.9%
6
HK$58.70
Power Assets Holdings
7D
4.4%
1Y
15.0%
1038
HK$59.95
CK Infrastructure Holdings
7D
2.5%
1Y
13.2%
451
HK$0.89
GCL New Energy Holdings
7D
8.5%
1Y
128.2%
3633
HK$2.70
Zhongyu Energy Holdings
7D
0.7%
1Y
-33.5%