Narrative Update • Aug 06
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Hong Kong (HSI) Utilities Sector Analysis
UpdatedAug 09, 2026
DataAggregated Company Financials
Companies58
- 7D-3.0%
- 3M-11.7%
- 1Y-9.6%
- YTD-4.2%
In the last week, the Utilities industry is down 3.0% with China Resources Power Holdings down the most at 4.6%. Meanwhile, Shandong Hi-Speed New Energy Group actually outperformed within the industry, gaining 15% in the last week. Overall the industry is down 9.6% in 12 months. Earnings are forecast to grow by 4.2% annually.
Sector Valuation and Performance
Has the Hong Kong Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 09 Aug 2026 | HK$1.7t | HK$1.7t | HK$127.3b | 9.1x | 13.5x | 1x |
| Tue, 07 Jul 2026 | HK$1.7t | HK$1.7t | HK$126.6b | 9.3x | 13.3x | 1x |
| Thu, 04 Jun 2026 | HK$1.9t | HK$1.7t | HK$126.7b | 10x | 15.1x | 1.1x |
| Sat, 02 May 2026 | HK$1.8t | HK$1.7t | HK$126.9b | 10.6x | 14.5x | 1.1x |
| Mon, 30 Mar 2026 | HK$1.8t | HK$1.7t | HK$130.7b | 9.4x | 14.1x | 1.1x |
| Wed, 25 Feb 2026 | HK$1.8t | HK$1.7t | HK$131.2b | 9.8x | 14x | 1.1x |
| Fri, 23 Jan 2026 | HK$1.8t | HK$1.7t | HK$130.0b | 10x | 13.8x | 1.1x |
| Sun, 21 Dec 2025 | HK$1.7t | HK$1.7t | HK$129.2b | 9.1x | 13.3x | 1x |
| Tue, 18 Nov 2025 | HK$1.8t | HK$1.7t | HK$129.2b | 9.5x | 13.6x | 1x |
| Thu, 16 Oct 2025 | HK$1.7t | HK$1.7t | HK$126.3b | 9.7x | 13.7x | 1x |
| Sat, 13 Sep 2025 | HK$1.9t | HK$1.8t | HK$132.1b | 10.3x | 14.3x | 1x |
| Mon, 11 Aug 2025 | HK$1.9t | HK$1.8t | HK$134.0b | 10.2x | 14x | 1x |
| Wed, 09 Jul 2025 | HK$1.8t | HK$1.8t | HK$132.9b | 9.5x | 13.8x | 1x |
| Fri, 06 Jun 2025 | HK$1.8t | HK$1.8t | HK$133.1b | 8.7x | 13.6x | 1x |
| Sun, 04 May 2025 | HK$1.7t | HK$1.8t | HK$132.5b | 8.9x | 13x | 1x |
| Tue, 01 Apr 2025 | HK$1.7t | HK$1.8t | HK$133.4b | 8.7x | 12.6x | 0.9x |
| Thu, 27 Feb 2025 | HK$1.7t | HK$1.8t | HK$123.9b | 8.7x | 13.6x | 0.9x |
| Sat, 25 Jan 2025 | HK$1.6t | HK$1.8t | HK$119.9b | 8x | 13.6x | 0.9x |
| Mon, 23 Dec 2024 | HK$1.7t | HK$1.8t | HK$119.4b | 8.6x | 14.3x | 1x |
| Wed, 20 Nov 2024 | HK$1.7t | HK$1.8t | HK$120.0b | 8.3x | 14.1x | 0.9x |
| Fri, 18 Oct 2024 | HK$1.7t | HK$1.8t | HK$124.4b | 8.9x | 13.6x | 0.9x |
| Sun, 15 Sep 2024 | HK$1.6t | HK$1.8t | HK$124.9b | 7.8x | 13x | 0.9x |
| Tue, 13 Aug 2024 | HK$1.8t | HK$1.8t | HK$124.8b | 8.7x | 14.1x | 1x |
| Thu, 11 Jul 2024 | HK$1.8t | HK$1.8t | HK$124.6b | 9x | 14.1x | 1x |
| Sat, 08 Jun 2024 | HK$1.8t | HK$1.8t | HK$125.4b | 9.9x | 14.3x | 1x |
| Mon, 06 May 2024 | HK$1.7t | HK$1.8t | HK$125.6b | 9.1x | 13.3x | 0.9x |
| Wed, 03 Apr 2024 | HK$1.6t | HK$1.8t | HK$121.2b | 9x | 13.5x | 0.9x |
| Fri, 01 Mar 2024 | HK$1.6t | HK$1.8t | HK$120.7b | 8.4x | 13.6x | 0.9x |
| Sun, 28 Jan 2024 | HK$1.6t | HK$1.8t | HK$125.1b | 8.2x | 12.7x | 0.9x |
| Tue, 26 Dec 2023 | HK$1.5t | HK$1.8t | HK$125.2b | 8x | 12.3x | 0.8x |
| Thu, 23 Nov 2023 | HK$1.5t | HK$1.8t | HK$126.8b | 8x | 11.9x | 0.8x |
| Sat, 21 Oct 2023 | HK$1.5t | HK$1.8t | HK$114.8b | 7.9x | 12.7x | 0.8x |
| Mon, 18 Sep 2023 | HK$1.5t | HK$1.8t | HK$115.2b | 8.5x | 13.2x | 0.8x |
| Wed, 16 Aug 2023 | HK$1.6t | HK$1.8t | HK$108.2b | 9.9x | 15x | 0.9x |
Price to Earnings Ratio
15x
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 13.6x.
- 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 5.6% 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 | -1.00% | |
| Utilities | -2.96% | |
| Other Utilities | -0.93% | |
| Electric Utilities | -1.51% | |
| Renewable Energy | -3.30% | |
| Water Utilities | -3.51% | |
| Gas Utilities | -4.20% | |
Industry PE
- Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 16.8x.
- Analysts are expecting annual earnings growth of 0.3%, 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 1250 Shandong Hi-Speed New Energy Group | HK$1.28 | 15.3% +HK$381.9m | -47.8% | PE10.8x | |
| 527 China Ruifeng Renewable Energy Holdings | HK$0.69 | 13.1% +HK$137.2m | 74.7% | PS2.5x | |
| 6136 Kangda International Environmental | HK$0.79 | 5.3% +HK$92.3m | 102.6% | PE6.6x | |
| 3633 Zhongyu Energy Holdings | HK$2.48 | 1.2% +HK$80.9m | -34.9% | PE27.1x | |
| 451 Dynasty Digital Holdings | HK$0.66 | 4.8% +HK$53.2m | 48.3% | PS0.9x |