High Growth Tech Stocks to Watch in Hong Kong September 2024

As global markets react to the Federal Reserve's recent rate cut, Hong Kong's Hang Seng Index has seen a significant uptick, gaining 5.12% in a holiday-shortened week. This positive momentum sets an encouraging backdrop for high-growth tech stocks in the region, making it an opportune time to explore companies with strong fundamentals and innovative potential that align well with current market conditions.

Top 10 High Growth Tech Companies In Hong Kong

Name	Revenue Growth	Earnings Growth	Growth Rating
Wasion Holdings	22.37%	25.47%	★★★★★☆
MedSci Healthcare Holdings	48.74%	48.78%	★★★★★☆
Inspur Digital Enterprise Technology	25.31%	39.04%	★★★★★☆
Akeso	32.58%	54.53%	★★★★★★
Cowell e Holdings	31.82%	35.43%	★★★★★★
RemeGen	26.30%	52.19%	★★★★★☆
Innovent Biologics	22.24%	59.39%	★★★★★☆
Sichuan Kelun-Biotech Biopharmaceutical	24.70%	8.53%	★★★★★☆
Biocytogen Pharmaceuticals (Beijing)	21.53%	109.17%	★★★★★☆
Beijing Airdoc Technology	37.47%	93.35%	★★★★★☆

Click here to see the full list of 45 stocks from our SEHK High Growth Tech and AI Stocks screener.

Let's explore several standout options from the results in the screener.

Kuaishou Technology (SEHK:1024)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Kuaishou Technology, an investment holding company, offers live streaming, online marketing, and other services in the People’s Republic of China with a market cap of HK$206.73 billion.

Operations: Kuaishou Technology generates revenue primarily from domestic operations, totaling CN¥117.32 billion, with a smaller contribution from overseas markets at CN¥3.57 billion. The company focuses on live streaming and online marketing services within China.

Kuaishou Technology, a key player in Hong Kong's high-growth tech scene, has demonstrated robust financial and operational progress. In its recent earnings report for Q2 2024, the company posted a significant revenue increase to CNY 30.98 billion from CNY 27.74 billion year-over-year, with net income soaring to CNY 3.98 billion from CNY 1.48 billion. This growth is underpinned by an aggressive R&D strategy which saw expenses rise in line with expanding technological capabilities and product enhancements, particularly in AI-driven content creation platforms like Kling AI. The firm's commitment to innovation is further evidenced by its recent upgrades to Kling AI, enhancing video quality and user engagement capabilities—key factors that are likely to sustain its competitive edge in the rapidly evolving tech landscape.

• Click here to discover the nuances of Kuaishou Technology with our detailed analytical health report.

• Gain insights into Kuaishou Technology's past trends and performance with our Past report.

Tencent Holdings (SEHK:700)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Tencent Holdings Limited, an investment holding company, provides a range of services including online advertising, fintech, and business services both in China and internationally with a market cap of HK$3.95 trillion.

Operations: Tencent Holdings Limited generates revenue primarily through value-added services (CN¥302.28 billion), online advertising (CN¥111.89 billion), and fintech and business services (CN¥209.17 billion). The company operates both in China and internationally, leveraging its diverse portfolio to drive growth across multiple sectors.

Tencent Holdings has shown a notable uptick in performance with a revenue jump to CNY 161.12 billion, up from CNY 149.21 billion year-over-year for Q2 2024, and an impressive increase in net income to CNY 47.63 billion from CNY 26.17 billion. This financial growth is supported by its R&D commitment, where expenses are strategically aligned with its innovation trajectory—critical as the company navigates the competitive tech landscape of Hong Kong. Despite a challenging past year with earnings growth lagging at -23%, Tencent's projected annual profit growth of 12.8% surpasses the local market forecast of 11.8%, suggesting resilience and potential for rebounding strongly in the evolving digital economy sphere.

• Click to explore a detailed breakdown of our findings in Tencent Holdings' health report.

• Gain insights into Tencent Holdings' historical performance by reviewing our past performance report.

Lenovo Group (SEHK:992)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Lenovo Group Limited, an investment holding company with a market cap of HK$128.02 billion, develops, manufactures, and markets technology products and services.

Operations: Lenovo Group generates revenue primarily from three segments: Intelligent Devices Group (IDG) at $45.76 billion, Solutions and Services Group (SSG) at $7.64 billion, and Infrastructure Solutions Group (ISG) at $10.17 billion. The company focuses on developing, manufacturing, and marketing technology products and services across these divisions.

Lenovo's strategic focus on hybrid cloud and AI solutions underscores its adaptability in a rapidly evolving tech landscape. With a 7.9% annual revenue growth forecast, it outpaces the Hong Kong market average of 7.3%, reflecting robust business dynamics despite a broader industry slowdown. The company's R&D dedication is evident with an 18.7% expected earnings growth, suggesting strong future capabilities, particularly as recent expansions in AI services and partnerships like those with Databricks enhance its competitive edge in data management and analytics sectors.

• Navigate through the intricacies of Lenovo Group with our comprehensive health report here.

• Evaluate Lenovo Group's historical performance by accessing our past performance report.

Where To Now?

• Reveal the 45 hidden gems among our SEHK High Growth Tech and AI Stocks screener with a single click here.
• Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports.
• Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor.

Looking For Alternative Opportunities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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