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    Consumer non-durables

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    Tobacco
Smoore International Holdings Limited

Smoore International Holdings Limited

8.37
HKD
+0.31
(+3.78%)
73.77BMarket Cap
Mar 22Next Earn
Smoore International Holdings Limited
HKEX:6969
(Hong Kong Exchange)

Recent

price

8.37

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
0.12
0.27
0.6
1.33
1.86
2.3
2.02
1.84
1.94
2.34
- -
Revenue per Share
0.02
0.03
0.13
0.38
0.44
0.89
0.42
0.27
0.21
0.17
- -
Basic EPS, GAAP
0.02
0.06
0.13
0.28
0.49
0.27
-0.2
0.32
0.12
-0.06
- -
Free Cash Flow per Basic Share
- -
0.01
0.03
0.2
- -
0.4
0.24
0.12
0.09
0.23
- -
Dividend per Share
0.05
0.07
0.17
0.13
2.11
3.2
3.35
3.49
3.54
3.53
3.53
Book Value per Share
0.04
0.07
0.17
0.11
2.09
3.18
3.16
3.31
3.36
3.3
3.3
Tangible Book Value per Share
5,744
5,744
5,744
5,744
5,395
5,972
6,025
6,090
6,085
6,099
6,098
Basic Weighted Avg Shares
707
1,565
3,434
7,611
10,010
13,755
12,145
11,203
11,799
14,256
- -
Sales/Revenue/Turnover
15.2
15.67
25.22
33.9
40.18
41.47
19.94
13.74
9.08
8.23
- -
Operating Margin (%)
6
6
13
30
56
88
222
271
285
285
- -
Depreciation Expense
106
189
734
2,174
2,400
5,287
2,510
1,645
1,303
1,062
- -
Net Income, GAAP
18.09
16.6
15.5
15.32
23.02
14.85
15.03
15.05
21.26
28.06
- -
Effective Tax Rate (%)
15.02
12.07
21.37
28.56
23.98
38.44
20.67
14.68
11.05
7.45
- -
Profit Margin (%)
163
239
593
120
10,332
14,592
15,610
16,004
11,587
9,649
9,649
Working Capital
21
81
212
283
213
175
300
265
190
228
228
LT Debt
260
410
969
735
12,400
19,246
20,377
21,410
21,905
21,876
21,876
Total Equity
- -
48.31
75.92
142.14
41.98
29.09
9.86
5.72
3.4
2.71
- -
Return on Invested Capital (%)
- -
47.71
84.68
155.9
33.73
32.43
12.38
7.74
5.8
4.51
- -
Return on Capital (%)
- -
56.36
106.42
255.19
36.54
33.41
12.67
7.87
6.02
4.85
- -
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
1,690
650
1,998
LT Borrowings
- -
- -
- -
LT Finance Leases
190
276
228
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
6,180
6,188
6,194
Market Capitalization
77,232
103,011
66,290

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
16,846
14,508
15,778
Cash, Cash Equivalents & STI
12,490
10,596
10,777
Accounts Receivable, Net
2,067
2,015
2,248
Inventories
910
1,003
1,667
Total Current Liabilities
5,259
4,309
6,129
Payables & Accruals
- -
- -
- -
ST Debt
1,690
650
1,998
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
13.67%
-0.13%
Free Cash Flow
- -
-137.89%
-150.64%
Net Income, GAAP
- -
-1.2%
-18.54%
Sales/Revenue/Turnover
- -
8.82%
20.83%
Total Cash Common Dividend
- -
- -
152.24%

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
11,203
2024
- -
- -
11,799
2025
- -
- -
14,256

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.27
2024
- -
- -
0.21
2025
- -
- -
0.17

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.12
2024
- -
- -
0.09
2025
- -
- -
0.23
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Business
Smoore International Holdings Limited engages primarily in the research, design, development, manufacture, and sale of electronic atomization products, specializing in vaping devices and components. The company's core offerings include closed system electronic vaping products, heat-not-burn (HNB) tobacco products, and atomization components supplied to tobacco companies, independent vaping companies, and retail clients globally. Smoore operates key brands such as FEELM, which provides vaping solutions with advanced ceramic heating technology; VAPORESSO, known for its electronic vaping devices; and METEX, focusing on HNB atomization technologies. The company also offers OEM and ODM services, supply chain management, research and development, and marketing and branding services to partners worldwide. Founded in 2009 and headquartered in Shenzhen, China, Smoore operates across more than 70 international markets including North America, Europe, and Asia. In recent years, Smoore has significantly expanded its product portfolio and market presence through strategic partnerships and product innovations. In 2024 and 2025, the company launched numerous new device models tailored to diverse consumer preferences and strengthened its compliance and cybersecurity standards with innovations like the SolaXCloud Security Strategy. The company announced approval of its near-term science-based targets by the Science Based Targets Initiative (SBTi) in 2025, underscoring its commitment to sustainability. Smoore reported record quarterly revenues in 2025, driven by growth in heat-not-burn and electronic vaping segments along with expansion in its self-branded business. Operational advancements included expanding sales channels internationally, collaborating more closely with key customers, and enhancing channel operation services involving marketing and branding. In 2025, Eve Energy received approval to reduce its shareholding in Smoore, reflecting a dynamic shareholder structure and capital strategy. The company continues advancing its position as the world’s leading atomization product manufacturer with a focus on innovation, regulatory compliance, and global distribution expansion.