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Hong Kong (HSI) Utilities Sector Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies58
  • 7D-0.4%
  • 3M5.5%
  • 1Y16.3%
  • YTD7.2%

The Utilities is pretty flat in the last 7 days, but CGN Power has stood out, gaining 5.6%. The past year has been better, since the industry has gained 16% in that time. Earnings are forecast to grow by 5.8% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Mar 2026HK$1.8tHK$1.7tHK$132.1b8.7x13.9x1.1x
Sun, 22 Feb 2026HK$1.8tHK$1.7tHK$130.8b9.9x13.9x1.1x
Tue, 20 Jan 2026HK$1.8tHK$1.7tHK$130.1b9x13.5x1x
Thu, 18 Dec 2025HK$1.7tHK$1.7tHK$129.2b8.8x13.2x1x
Sat, 15 Nov 2025HK$1.8tHK$1.7tHK$129.3b9.5x13.7x1.1x
Mon, 13 Oct 2025HK$1.7tHK$1.7tHK$126.3b9.8x13.6x1x
Wed, 10 Sep 2025HK$1.9tHK$1.8tHK$132.2b10.5x14.2x1x
Fri, 08 Aug 2025HK$1.9tHK$1.8tHK$134.0b10.2x13.9x1x
Sun, 06 Jul 2025HK$1.8tHK$1.8tHK$133.0b9.2x13.7x1x
Tue, 03 Jun 2025HK$1.8tHK$1.8tHK$133.8b8.8x13.3x1x
Thu, 01 May 2025HK$1.7tHK$1.8tHK$131.6b9x13.1x1x
Sat, 29 Mar 2025HK$1.7tHK$1.8tHK$136.9b8.3x12.3x0.9x
Mon, 24 Feb 2025HK$1.7tHK$1.8tHK$119.7b8.5x13.9x0.9x
Wed, 22 Jan 2025HK$1.6tHK$1.8tHK$119.6b8x13.7x0.9x
Fri, 20 Dec 2024HK$1.7tHK$1.8tHK$119.4b8.7x14.4x1x
Sun, 17 Nov 2024HK$1.7tHK$1.8tHK$120.1b8.3x14x0.9x
Tue, 15 Oct 2024HK$1.7tHK$1.8tHK$124.9b9.3x13.8x0.9x
Thu, 12 Sep 2024HK$1.6tHK$1.8tHK$124.7b7.8x12.9x0.9x
Sat, 10 Aug 2024HK$1.8tHK$1.8tHK$124.9b8.7x14.1x1x
Mon, 08 Jul 2024HK$1.8tHK$1.8tHK$124.7b9.2x14.3x1x
Wed, 05 Jun 2024HK$1.8tHK$1.8tHK$125.5b9.5x14.1x1x
Fri, 03 May 2024HK$1.7tHK$1.8tHK$125.6b9.2x13.3x0.9x
Sun, 31 Mar 2024HK$1.6tHK$1.8tHK$121.6b9x13.4x0.9x
Tue, 27 Feb 2024HK$1.6tHK$1.8tHK$124.8b8.6x13.1x0.9x
Thu, 25 Jan 2024HK$1.6tHK$1.9tHK$125.6b8.1x12.4x0.8x
Sat, 23 Dec 2023HK$1.5tHK$1.8tHK$125.3b7.9x12.2x0.8x
Mon, 20 Nov 2023HK$1.5tHK$1.8tHK$126.4b8.1x11.9x0.8x
Wed, 18 Oct 2023HK$1.5tHK$1.8tHK$114.9b8.1x13x0.8x
Fri, 15 Sep 2023HK$1.5tHK$1.8tHK$115.0b8.3x13.2x0.8x
Sun, 13 Aug 2023HK$1.6tHK$1.8tHK$108.3b9.8x15.1x0.9x
Tue, 11 Jul 2023HK$1.7tHK$1.8tHK$92.3b9.7x18.2x0.9x
Thu, 08 Jun 2023HK$1.7tHK$1.8tHK$95.3b9.3x17.5x0.9x
Sat, 06 May 2023HK$1.8tHK$1.9tHK$95.9b9.9x18.4x0.9x
Mon, 03 Apr 2023HK$1.7tHK$1.9tHK$90.5b10.3x18.4x0.9x
Price to Earnings Ratio

18.4x


Total Market Cap: HK$1.7tTotal Earnings: HK$90.5bTotal Revenue: HK$1.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Utilities Sector Price to Earnings3Y Average 14.1x202420252026
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 14.1x.
  • 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 13% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.2% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

HK Market-2.20%
Utilities-0.38%
Renewable Energy5.08%
Water Utilities-0.77%
Other Utilities-0.78%
Electric Utilities-3.46%
Gas Utilities-5.82%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry, which is trading close to its 3-year average PE ratio of 17.2x.
    • Analysts are expecting annual earnings growth of 1.6%, which is lower than the prior year's growth of 1.9% 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 8.8% over the next 5 years.
  • This is better than its past earnings decline of 8.8% 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
1816 CGN PowerHK$3.615.6%
+HK$9.6b		46.7%PE16.5x
902 Huaneng Power InternationalHK$6.072.9%
+HK$2.7b		35.8%PE7.2x
991 Datang International Power GenerationHK$2.734.2%
+HK$2.0b		73.9%PE6.6x
270 Guangdong InvestmentHK$7.542.0%
+HK$980.7m		27.8%PE10.8x
3868 Xinyi Energy HoldingsHK$1.264.1%
+HK$426.0m		31.3%PE9.4x

Latest News

579
HK$2.39
Beijing Jingneng Clean Energy
7D
0.8%
1Y
11.7%
392
HK$30.80
Beijing Enterprises Holdings
7D
-7.7%
1Y
5.5%
1250
HK$1.74
Shandong Hi-Speed New Energy Group
7D
8.1%
1Y
4.8%
1816
HK$3.61
CGN Power
7D
5.6%
1Y
46.7%
135
HK$7.42
Kunlun Energy
7D
-12.8%
1Y
-4.6%
902
HK$6.07
Huaneng Power International
7D
2.9%
1Y
35.8%

902: Dividend Proposal And Board Review Will Support Balanced Future Return Profile

Analysts have trimmed their price target on Huaneng Power International slightly to reflect a fair value of about HK$6.40, based on updated assumptions for revenue growth, profit margins and a higher future P/E that guide this small adjustment. What's in the News The proposed 2025 profit distribution plan includes a cash dividend of RMB 0.40 per ordinary share, with an estimated total payout of about RMB 6.28 billion, subject to the shareholder base and final approvals (Key Developments).
1038
HK$61.45
CK Infrastructure Holdings
7D
-5.4%
1Y
30.7%
3
HK$7.09
Hong Kong and China Gas
7D
-3.4%
1Y
6.0%
6
HK$61.10
Power Assets Holdings
7D
-1.1%
1Y
32.1%
270
HK$7.54
Guangdong Investment
7D
2.0%
1Y
27.8%
603
HK$0.23
China Oil And Gas Group
7D
12.9%
1Y
41.9%
2
HK$72.90
CLP Holdings
7D
-1.0%
1Y
14.9%

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).
3868
HK$1.26
Xinyi Energy Holdings
7D
4.1%
1Y
31.3%
991
HK$2.73
Datang International Power Generation
7D
4.2%
1Y
73.9%

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$7.40
China Gas Holdings
7D
-5.2%
1Y
1.1%

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?
916
HK$7.74
China Longyuan Power Group
7D
-2.1%
1Y
29.4%