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Smoore International Holdings Limited (HK:6969)
:6969
Hong Kong Market
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Smoore International Holdings Limited (6969) AI Stock Analysis

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HK:6969

Smoore International Holdings Limited

(6969)

Rating:62Neutral
Price Target:
HK$23.50
â–˛(15.20%Upside)
Smoore International's overall stock score is influenced by its financial stability and strong balance sheet, though this is offset by declining revenues and profitability. The technical indicators show positive momentum but suggest overbought conditions. The valuation appears high, with a significant P/E ratio and low dividend yield, indicating potential overvaluation.

Smoore International Holdings Limited (6969) vs. iShares MSCI Hong Kong ETF (EWH)

Smoore International Holdings Limited Business Overview & Revenue Model

Company DescriptionSmoore International Holdings Limited, an investment holding company, engages in the provision of vaping technology solutions. It researches, designs, and manufactures closed system vaping devices and vaping components for tobacco companies and independent vaping companies. The company also offers open system vaping devices for retail clients under the Vaporesso and FEELM brands. It serves in Hong Kong, the People's Republic of China, the United States, the United Kingdom, France, Japan, Switzerland, and internationally. The company was founded in 2009 and is headquartered in Shenzhen, China.
How the Company Makes MoneySmoore 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
68
Positive
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
75
Positive
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
72
Positive
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.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue11.80B11.17B12.14B13.76B10.01B
Gross Profit4.41B4.37B5.26B7.38B5.30B
EBITDA1.26B2.24B2.58B5.75B4.11B
Net Income1.30B1.65B2.51B5.29B2.40B
Balance Sheet
Total Assets27.65B25.51B24.36B22.87B14.77B
Cash, Cash Equivalents and Short-Term Investments12.49B16.17B15.19B14.66B9.56B
Total Debt1.88B776.39M558.55M320.07M330.66M
Total Liabilities5.75B4.10B3.98B3.62B2.37B
Stockholders Equity21.90B21.41B20.38B19.25B12.40B
Cash Flow
Free Cash Flow717.57M1.96B-1.22B1.61B2.65B
Operating Cash Flow1.75B3.19B469.86M3.59B3.04B
Investing Cash Flow-1.86B-7.02B-2.42B-5.23B-1.26B
Financing Cash Flow-45.71M-612.36M276.19M3.52B7.06B

Smoore International Holdings Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price20.40
Price Trends
50DMA
19.37
Positive
100DMA
16.21
Positive
200DMA
14.01
Positive
Market Momentum
MACD
0.61
Positive
RSI
57.44
Neutral
STOCH
21.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6969, the sentiment is Positive. The current price of 20.4 is above the 20-day moving average (MA) of 19.96, above the 50-day MA of 19.37, and above the 200-day MA of 14.01, indicating a bullish trend. The MACD of 0.61 indicates Positive momentum. The RSI at 57.44 is Neutral, neither overbought nor oversold. The STOCH value of 21.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:6969.

Smoore International Holdings Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
71
Outperform
HK$22.58B26.4531.05%1.41%10.46%42.58%
63
Neutral
$17.26B10.39-8.50%3.06%1.63%-25.95%
62
Neutral
HK$128.72B89.586.03%0.48%3.80%-22.16%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:6969
Smoore International Holdings Limited
20.80
11.98
135.83%
HK:6055
China Tobacco International (HK) Co
37.00
21.57
139.79%

Smoore International Holdings Limited Corporate Events

Smoore International Grants 2.19 Million Share Options to Employees
Jul 17, 2025

Smoore International Holdings Limited has announced the grant of 2,190,000 share options to 10 eligible employees under its Amended post-IPO share option scheme. This move is part of the company’s strategy to incentivize and retain its workforce, with the options being subject to a performance evaluation mechanism and a clawback provision. The share options have a validity period of 10 years and are set to vest between 2026 and 2029, reflecting the company’s commitment to aligning employee performance with its long-term growth objectives.

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.

Smoore International Grants 1.2 Million Shares to Employees
Jul 17, 2025

Smoore International Holdings Limited has announced the grant of 1,200,000 awarded shares to eight eligible employees as part of its Amended Share Award Scheme. The shares, which have no purchase price, will vest between July 2026 and July 2029, with the number of shares and vesting period determined by the employees’ performance evaluations. This move aims to incentivize employees and align their interests with the company’s long-term goals, potentially impacting employee retention and performance.

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.

Smoore International Issues Profit Warning Amid Rising Expenses
Jul 15, 2025

Smoore International Holdings Limited has issued a profit warning for the six months ending June 30, 2025, despite achieving an 18% increase in revenue due to the competitiveness of its innovative products. The company’s profit is expected to decrease by 21% to 35% compared to the previous year, primarily due to increased non-cash share-based payment expenses, heightened distribution and selling expenses, and rising legal costs. Adjusted profit, accounting for share-based payment expenses, shows a potential decrease of 9% to a slight increase of 4% over the same period last year, indicating challenges in maintaining profitability amidst rising operational costs.

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.

Smoore’s Controlling Shareholder Plans Shareholding Reduction
Jun 16, 2025

Smoore International Holdings Limited announced that its controlling shareholder, EVE Energy Co., Ltd., has received approval to reduce its shareholding in the company by up to 3.5% within a year. This reduction plan follows previous plans that expired without any actual reduction in shareholding. If completed, EVE Energy will cease to be a controlling shareholder, impacting the company’s shareholder structure and potentially affecting investor perceptions.

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.

Smoore International Approves Key Resolutions at AGM
May 23, 2025

Smoore International Holdings Limited held its Annual General Meeting on May 23, 2025, where all proposed resolutions were passed with overwhelming support. Key resolutions included the approval of financial statements, declaration of a final dividend, re-election of directors, and authorization for share repurchase and issuance mandates. The outcomes of the AGM reinforce Smoore’s stable governance and strategic direction, potentially strengthening its position in the vaping industry and providing confidence to stakeholders.

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.

Smoore International Grants 2.39 Million Share Options to Employees
May 7, 2025

Smoore International Holdings Limited announced the grant of 2,390,000 share options to 13 eligible employees under its amended post-IPO share option scheme. This initiative is designed to incentivize employees based on their performance and contributions, with options vesting over a period from 2026 to 2029 and exercisable until 2035. The grant reflects the company’s commitment to aligning employee rewards with performance, potentially enhancing employee retention and motivation.

Smoore International Grants Shares to Employees Under Award Scheme
May 7, 2025

Smoore International Holdings Limited announced the grant of 1,614,000 awarded shares to 36 eligible employees under its Share Award Scheme. This initiative, which includes a performance evaluation mechanism and a clawback provision, aims to incentivize and retain talent by linking share awards to employee performance and tenure, potentially impacting the company’s operational efficiency and employee engagement.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 19, 2025