Smoore International Holdings Limited (6969) AI Stock Analysis

• Market Cap: HK$96.30B
• Dividend Yield: 1.77%
• Average Volume (3M): 17.51M
• Price to Earnings (P/E): 77.1
• Beta (1Y): 1.07
• Revenue Growth: 15.05%
• EPS Growth: -30.92%
• Country: HK
• Employees: 18,566
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Tobacco
• EPS (TTM): 0.09
• Shares Outstanding: 6,193,035,600
• 10 Day Avg. Volume: 24,406,222
• 30 Day Avg. Volume: 17,508,498
• PEG Ratio: -2.65
• Price to Book (P/B): 3.50
• Price to Sales (P/S): 6.50
• P/FCF Ratio: 106.91
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 54 Neutral
• Price Target: HK$15.50 ▲(1.84% Upside)

The overall stock score is primarily influenced by financial stability, despite declining revenues and profitability. Technical indicators suggest bearish momentum, and the high P/E ratio points to overvaluation concerns. The lack of earnings call data and corporate events means these factors do not impact the score.

Smoore International Holdings Limited Business Overview & Revenue Model

Company Description

Smoore International Holdings Limited, listed on the Hong Kong Stock Exchange under the ticker 6969, is a leading global manufacturer specializing in vaping technology and products. The company operates primarily within the sector of electronic atomization devices, which includes e-cigarettes and other vaping products. Smoore's core offerings include advanced vaping devices, open and closed system vaping products, and atomization solutions for medical and healthcare applications.

How the Company Makes Money

Smoore International Holdings Limited generates revenue through the design, manufacture, and sale of vaping devices and related components. The company's primary revenue streams include sales of its branded vaping products to consumers and the provision of manufacturing services to other brands and companies within the vaping industry. Smoore benefits from significant partnerships with global tobacco companies, leveraging its technological expertise to supply them with high-quality atomization hardware. Additionally, Smoore capitalizes on its research and development capabilities to innovate and maintain a competitive edge in the rapidly evolving vaping market. The company also explores opportunities in the medical and healthcare sectors by developing atomization technologies applicable to these fields.

Smoore International Holdings Limited Financial Statement Overview

Summary

Smoore International Holdings Limited demonstrates financial stability with strong equity and low leverage. However, declining revenues and reduced profitability over recent years are concerning. The company has a solid cash position but faces challenges in sustaining cash flow growth. Overall, while the financials indicate a stable foundation, strategic adjustments are necessary to enhance performance and growth prospects.

Income Statement

The company shows strong gross profit margins consistently above 35%. However, revenue growth has been erratic with a decline of 13.71% from 2021 to 2022, followed by a further decrease of 8.06% in the latest year. Net profit margin remains healthy at around 11% for the current period, though it has decreased compared to prior years. The company needs to address the continuous revenue decline to improve overall income statement performance.

Balance Sheet

Smoore International maintains a strong equity position with an equity ratio of about 79% as of the latest report. The debt-to-equity ratio is low at approximately 0.09, indicating financial stability and low leverage. Return on equity has decreased over the years, reflecting reduced profitability. Nonetheless, the company's balance sheet remains robust with ample liquidity, as evidenced by a significant cash reserve.

Cash Flow

Operating cash flow has seen fluctuations, but the company remains cash flow positive, with a free cash flow to net income ratio above 0.5 in the latest year. The significant decline in free cash flow compared to prior years highlights potential operational challenges. Cash flow management appears prudent, but improvements may be needed to sustain growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.77B	11.80B	11.17B	12.14B	13.76B	10.01B
Gross Profit	4.80B	4.41B	4.37B	5.26B	7.38B	5.30B
EBITDA	1.21B	1.07B	2.24B	2.58B	5.75B	4.11B
Net Income	1.11B	1.30B	1.65B	2.51B	5.29B	2.40B
Balance Sheet
Total Assets	27.33B	27.65B	25.51B	24.36B	22.87B	14.77B
Cash, Cash Equivalents and Short-Term Investments	10.60B	12.49B	16.17B	15.19B	14.66B	9.56B
Total Debt	925.79M	1.88B	776.39M	558.55M	757.58M	330.66M
Total Liabilities	4.89B	5.75B	4.10B	3.98B	3.62B	2.37B
Stockholders Equity	22.43B	21.90B	21.41B	20.38B	19.25B	12.40B
Cash Flow
Free Cash Flow	1.04B	717.57M	1.96B	-1.22B	1.61B	2.65B
Operating Cash Flow	1.96B	1.75B	3.19B	469.86M	3.59B	3.04B
Investing Cash Flow	-1.59B	-1.86B	-7.02B	-2.42B	-5.23B	-1.26B
Financing Cash Flow	-1.68B	-45.71M	-612.36M	276.19M	3.52B	7.06B

Smoore International Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.22
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6969, the sentiment is Negative. The current price of 15.22 is below the 20-day moving average (MA) of 15.98, below the 50-day MA of 18.03, and below the 200-day MA of 16.18, indicating a bearish trend. The MACD of -1.03 indicates Positive momentum. The RSI at 27.67 is Positive, neither overbought nor oversold. The STOCH value of 11.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6969.

Smoore International Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6055	76 Outperform	HK$27.17B	29.39	28.61%	1.28%	14.77%	16.77%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
6969	54 Neutral	HK$96.30B	77.14	5.06%	1.77%	15.05%	-30.92%

Smoore International Holdings Limited Corporate Events

Smoore International Grants Share Options to Employees

Smoore International Holdings Limited announced the grant of 1,180,000 share options to nine eligible employees under its Amended Share Option Scheme. The options, which have a 10-year validity and a vesting period from 2026 to 2029, are part of a performance-based incentive plan aimed at retaining talent and enhancing employee contributions to the company. This move is expected to strengthen Smoore’s position in the industry by aligning employee performance with company growth objectives.

The most recent analyst rating on (HK:6969) stock is a Hold with a HK$15.50 price target. To see the full list of analyst forecasts on Smoore International Holdings Limited stock, see the HK:6969 Stock Forecast page.

Smoore International Grants 540,000 Shares Under Amended Award Scheme

Smoore International Holdings Limited has announced the grant of 540,000 awarded shares to 10 eligible employees as part of its Amended Share Award Scheme. This initiative, which includes a performance evaluation mechanism and a clawback provision, aims to incentivize employees based on their performance and tenure, potentially impacting the company’s operational efficiency and employee retention.

The most recent analyst rating on (HK:6969) stock is a Hold with a HK$15.50 price target. To see the full list of analyst forecasts on Smoore International Holdings Limited stock, see the HK:6969 Stock Forecast page.

Smoore International Achieves Record Quarterly Revenue and Profit Growth

Smoore International Holdings Limited reported a record quarterly revenue of approximately RMB4,196.8 million for the period ending September 30, 2025, marking a significant year-on-year growth of 27.2% and a quarter-on-quarter growth of 27.5%. This growth was driven by increased shipments in the heat-not-burn and electronic vaping businesses, as well as expansion in the self-branded business. The company’s adjusted profit rose by 4.0% year-on-year, attributed to revenue and gross profit growth, along with efficient management of expenses. The announcement highlights Smoore’s strategic positioning in the global market, leveraging regulatory foresight and market insights to support compliant product launches, thereby enhancing its industry standing and stakeholder value.

The most recent analyst rating on (HK:6969) stock is a Hold with a HK$15.50 price target. To see the full list of analyst forecasts on Smoore International Holdings Limited stock, see the HK:6969 Stock Forecast page.

Smoore International Reports Revenue Growth Amidst Profit Decline in H1 2025

Smoore International Holdings Limited reported its interim results for the first half of 2025, showing an 18.3% increase in revenue compared to the previous year, driven by a rise in technical service revenue. Despite this growth, the company experienced a decline in profit before tax by 13.9% and a 28% drop in profit for the period, attributed to increased share-based payment expenses. The adjusted profit for the period showed a slight decrease of 2.1%, reflecting the company’s efforts to manage its financial performance amidst changing market conditions.

The most recent analyst rating on (HK:6969) stock is a Hold with a HK$23.50 price target. To see the full list of analyst forecasts on Smoore International Holdings Limited stock, see the HK:6969 Stock Forecast page.

Smoore International Declares Interim Dividend for 2025

Smoore International Holdings Limited announced an interim cash dividend of HKD 0.2 per share for the six months ending June 30, 2025. The dividend will be paid on September 25, 2025, with an ex-dividend date of September 5, 2025. This announcement reflects the company’s financial health and commitment to returning value to its shareholders, potentially enhancing its attractiveness to investors.

The most recent analyst rating on (HK:6969) stock is a Hold with a HK$23.50 price target. To see the full list of analyst forecasts on Smoore International Holdings Limited stock, see the HK:6969 Stock Forecast page.

Smoore International to Review Interim Results and Dividend

Smoore International Holdings Limited has announced that its Board of Directors will meet on August 20, 2025, to consider and approve the interim results for the first half of the year ending June 30, 2025. The meeting will also address the potential payment of an interim dividend, reflecting the company’s ongoing financial strategies and shareholder engagement.

The most recent analyst rating on (HK:6969) stock is a Sell with a HK$10.72 price target. To see the full list of analyst forecasts on Smoore International Holdings Limited stock, see the HK:6969 Stock Forecast page.