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Hong Kong (HSI) Utilities Sector Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies58
  • 7D0.6%
  • 3M8.6%
  • 1Y19.6%
  • YTD9.9%

The Utilities is pretty flat in the last 7 days, but CGN Power has stood out, gaining 6.1%. As for the the longer term, the industry is up 20% over the past 12 months. As for the next few years, earnings are expected to grow by 7.3% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 15 Mar 2026HK$1.9tHK$1.7tHK$130.2b9.9x14.5x1.1x
Tue, 10 Feb 2026HK$1.8tHK$1.7tHK$130.7b9.1x13.8x1.1x
Thu, 08 Jan 2026HK$1.7tHK$1.7tHK$129.6b9.1x13.4x1x
Sat, 06 Dec 2025HK$1.7tHK$1.7tHK$129.0b9.4x13.5x1x
Mon, 03 Nov 2025HK$1.7tHK$1.7tHK$129.1b9.5x13.4x1x
Wed, 01 Oct 2025HK$1.7tHK$1.8tHK$132.1b10x13.2x1x
Fri, 29 Aug 2025HK$1.8tHK$1.8tHK$131.7b9.9x14x1x
Sun, 27 Jul 2025HK$1.9tHK$1.8tHK$133.0b10.2x14x1x
Tue, 24 Jun 2025HK$1.8tHK$1.8tHK$133.1b8.9x13.4x1x
Thu, 22 May 2025HK$1.8tHK$1.8tHK$133.7b9.2x13.5x1x
Sat, 19 Apr 2025HK$1.7tHK$1.8tHK$132.7b8.4x12.7x0.9x
Mon, 17 Mar 2025HK$1.7tHK$1.8tHK$124.5b8.7x13.5x0.9x
Wed, 12 Feb 2025HK$1.6tHK$1.8tHK$119.4b8.2x13.5x0.9x
Fri, 10 Jan 2025HK$1.6tHK$1.8tHK$119.2b8.1x13.8x0.9x
Sun, 08 Dec 2024HK$1.7tHK$1.8tHK$119.6b8.4x14.1x0.9x
Tue, 05 Nov 2024HK$1.7tHK$1.8tHK$121.1b8.7x14.4x0.9x
Thu, 03 Oct 2024HK$1.8tHK$1.8tHK$125.3b9.3x14.2x1x
Sat, 31 Aug 2024HK$1.7tHK$1.8tHK$124.1b8.5x13.9x0.9x
Mon, 29 Jul 2024HK$1.8tHK$1.8tHK$124.9b8.8x14.1x1x
Wed, 26 Jun 2024HK$1.7tHK$1.8tHK$124.9b9.5x13.9x1x
Fri, 24 May 2024HK$1.7tHK$1.8tHK$125.4b9.4x13.9x1x
Sun, 21 Apr 2024HK$1.6tHK$1.8tHK$121.3b8.8x13.5x0.9x
Tue, 19 Mar 2024HK$1.7tHK$1.8tHK$120.1b9.2x14x0.9x
Thu, 15 Feb 2024HK$1.6tHK$1.8tHK$124.9b7.8x12.5x0.8x
Sat, 13 Jan 2024HK$1.6tHK$1.8tHK$125.0b8.5x12.7x0.9x
Mon, 11 Dec 2023HK$1.5tHK$1.8tHK$124.9b7.7x11.9x0.8x
Wed, 08 Nov 2023HK$1.5tHK$1.8tHK$126.0b7.7x11.8x0.8x
Fri, 06 Oct 2023HK$1.5tHK$1.8tHK$115.0b7.8x13.2x0.8x
Sun, 03 Sep 2023HK$1.5tHK$1.8tHK$115.4b8.3x13.3x0.8x
Tue, 01 Aug 2023HK$1.7tHK$1.8tHK$98.8b9.6x17.1x0.9x
Thu, 29 Jun 2023HK$1.7tHK$1.8tHK$92.2b9.5x18.2x0.9x
Sat, 27 May 2023HK$1.7tHK$1.8tHK$95.5b9.6x17.6x0.9x
Mon, 24 Apr 2023HK$1.7tHK$1.9tHK$90.7b9.6x18.5x0.9x
Wed, 22 Mar 2023HK$1.7tHK$1.8tHK$59.6b8.6x28x0.9x
Price to Earnings Ratio

28x


Total Market Cap: HK$1.7tTotal Earnings: HK$59.6bTotal Revenue: HK$1.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Utilities Sector Price to Earnings3Y Average 14.2x202420252026
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 14.2x.
  • The 3-year average PS ratio of 0.94x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 30% 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-0.32%
Utilities0.60%
Renewable Energy3.53%
Other Utilities-0.38%
Water Utilities-0.47%
Gas Utilities-1.07%
Electric Utilities-1.92%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 17.2x.
    • Analysts are expecting annual earnings growth of 4.7%, which is higher than its past year's earnings growth of 1.6% 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 4.0x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 9.8% over the next 5 years.
  • This is better than its past earnings decline of 6.7% per year.
  • In contrast, the Water Utilities 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
1816 CGN PowerHK$3.466.1%
+HK$10.1b		37.3%PE16.4x
916 China Longyuan Power GroupHK$8.395.4%
+HK$3.6b		37.3%PE13.6x
836 China Resources Power HoldingsHK$19.232.6%
+HK$2.5b		5.5%PE7.7x
991 Datang International Power GenerationHK$2.713.8%
+HK$1.9b		79.5%PE6.5x
2380 China Power International DevelopmentHK$3.433.3%
+HK$1.4b		15.1%PE11.1x

Latest News

2
HK$73.60
CLP Holdings
7D
-2.0%
1Y
16.3%

2: Dividend Timing And Modest Assumption Shifts Will Shape Balanced Outlook

Analysts have adjusted their price target on CLP Holdings slightly higher to around HK$75.71 from about HK$73.46, reflecting updated assumptions on fair value, revenue, profit margins and future P/E expectations. What's in the News CLP Holdings declared an ordinary fourth interim dividend for the year ended 31 December 2025 of HK$1.31 per share, with an ex dividend date on 11 March 2026, a record date on 13 March 2026, and payment scheduled for 24 March 2026 (Key Developments).
579
HK$2.49
Beijing Jingneng Clean Energy
7D
3.8%
1Y
31.1%
1816
HK$3.46
CGN Power
7D
6.1%
1Y
37.3%
2380
HK$3.43
China Power International Development
7D
3.3%
1Y
15.1%
902
HK$6.13
Huaneng Power International
7D
-1.4%
1Y
38.1%

902: Upcoming Board Meeting And Dividend Review Will Shape Measured Upside Potential

Analysts have nudged their fair value estimate for Huaneng Power International higher from about HK$6.32 to about HK$6.42, citing small adjustments to the discount rate, profit margin assumptions and future P/E expectations. What's in the News A board meeting is scheduled for Mar 24, 2026 to review and approve the annual results announcement for Huaneng Power International and its subsidiaries for the year ended Dec 31, 2025 (Key Developments).
135
HK$8.48
Kunlun Energy
7D
-2.2%
1Y
9.1%
3
HK$7.46
Hong Kong and China Gas
7D
-0.7%
1Y
17.5%
836
HK$19.23
China Resources Power Holdings
7D
2.6%
1Y
5.5%
6
HK$61.70
Power Assets Holdings
7D
-1.4%
1Y
19.9%
1038
HK$64.25
CK Infrastructure Holdings
7D
-2.0%
1Y
21.3%
2638
HK$6.80
HK Electric Investments and HK Electric Investments
7D
-3.1%
1Y
24.5%
3868
HK$1.33
Xinyi Energy Holdings
7D
5.6%
1Y
35.7%
991
HK$2.71
Datang International Power Generation
7D
3.8%
1Y
79.5%

Datang International Power Generation (HKG:991) Takes On Some Risk With Its Use Of Debt

Feb 01
Datang International Power Generation (HKG:991) Takes On Some Risk With Its Use Of Debt
384
HK$7.99
China Gas Holdings
7D
-2.7%
1Y
11.3%

Is There An Opportunity With China Gas Holdings Limited's (HKG:384) 49% Undervaluation?

Jan 27
Is There An Opportunity With China Gas Holdings Limited's (HKG:384) 49% Undervaluation?
1798
HK$2.05
China Datang Corporation Renewable Power
7D
4.6%
1Y
-6.8%

A Look At The Fair Value Of China Datang Corporation Renewable Power Co., Limited (HKG:1798)

Jan 23
A Look At The Fair Value Of China Datang Corporation Renewable Power Co., Limited (HKG:1798)
916
HK$8.39
China Longyuan Power Group
7D
5.4%
1Y
37.3%