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UBS Lowers SMOORE INTL (06969.HK) TP to $9, Rating Buy
2023/08/23
UBS released a research report saying that the revenue of SMOORE INTL (06969.HK) in 1H23 was RMB5.12 billion, down 9% YoY.
Gross profit decreased by 31% YoY to RMB1.86 billion, and the net profit decreased by 48% to RMB717 million.
UBS updated its EPS estimates for the Group to RMB25 cents, RMB28.7 cents and RMB32.7 cents for 2023 to 2025, taking into account the continued erosion of the legal market in China and the US by the illegal market, the uncertainties of the growth of disposable products in Europe, cost control and better investment returns.
Related New: SMOORE INTL Interim NP Down 48% to RMB717M; Div HK5 Cents
UBS expected EBIT and EPS to grow at a CAGR of 19% and 14% respectively from 2023 to 2025. It also believed that there is still upside potential for the stock under the current market expectation.
UBS lowered its target price from $10 to $9, with rating kept at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Smoore Intl 6969
Re: Smoore Intl 6969
by winston » Sun Aug 27, 2023 4:09 pm
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Re: Smoore Intl 6969
by winston » Sun Aug 27, 2023 4:12 pm
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CICC Trims SMOORE INTL (06969.HK) TP to $10, Rating Outperform
2023/08/22
CICC issued a research report saying that SMOORE INTL (06969.HK)'s 1H23 results is in line with CICC's expectations.
CICC is optimistic about the Company's innovative ability and competitive advantage as the world's leading atomization technology company, which is expected to improve performance in 2H23.
Related News: Daiwa Cuts SMOORE INTL (06969.HK) TP to $8, Rating Hold
As the domestic market is still under pressure, CICC lowered its profit forecasts for 2023 and 2024 by 21% and 20% to RMB1.86 billion and RMB2.5 billion, respectively, with rating kept at Outperform.
Considering the adjustments in profit forecasts and the room for growth in medium- to long-term, CICC cut its target price by 9% to $10.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
CICC Trims SMOORE INTL (06969.HK) TP to $10, Rating Outperform
2023/08/22
CICC issued a research report saying that SMOORE INTL (06969.HK)'s 1H23 results is in line with CICC's expectations.
CICC is optimistic about the Company's innovative ability and competitive advantage as the world's leading atomization technology company, which is expected to improve performance in 2H23.
Related News: Daiwa Cuts SMOORE INTL (06969.HK) TP to $8, Rating Hold
As the domestic market is still under pressure, CICC lowered its profit forecasts for 2023 and 2024 by 21% and 20% to RMB1.86 billion and RMB2.5 billion, respectively, with rating kept at Outperform.
Considering the adjustments in profit forecasts and the room for growth in medium- to long-term, CICC cut its target price by 9% to $10.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Smoore Intl 6969
by winston » Sun Aug 27, 2023 4:22 pm
SMOORE INTL Interim NP Down 48% to RMB717M; Div HK5 Cents
2023/08/22
SMOORE INTL (06969.HK) announced its interim results for the six months ended June 2023, with revenue of RMB5.123 billion, down 9.4% YoY.
Dividend History
Announce Date Event Particular
2023/03/20 Final D:HKD 0.0800
2022/08/24 Interim D:HKD 0.1000
2022/03/30 Final D:HKD 0.1800
2021/08/19 Interim D:HKD 0.2100
It recorded net profit of RMB717 million, down 48.2%, with earnings per share of RMB11.81 cents.
An interim dividend of HK5 cents was declared, compared to HK10 cents in the same period last year.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
2023/08/22
SMOORE INTL (06969.HK) announced its interim results for the six months ended June 2023, with revenue of RMB5.123 billion, down 9.4% YoY.
Dividend History
Announce Date Event Particular
2023/03/20 Final D:HKD 0.0800
2022/08/24 Interim D:HKD 0.1000
2022/03/30 Final D:HKD 0.1800
2021/08/19 Interim D:HKD 0.2100
It recorded net profit of RMB717 million, down 48.2%, with earnings per share of RMB11.81 cents.
An interim dividend of HK5 cents was declared, compared to HK10 cents in the same period last year.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Smoore Intl 6969
by winston » Mon Oct 16, 2023 6:47 am
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Smoore's net falls 35pc
China-based atomization technology and e-cigarette giant Smoore International (6969), saw its adjusted net profit for the third quarter of 2023 drop by 35.2 percent year-on-year to 466.9 million yuan (HK$501 million).
Meanwhile, pre-tax profit declined by around 36.3 percent compared to the same period last year, primarily due to a 10.3 percent decrease in its revenue, mainly driven by an 85.6 percent year-on-year drop in revenue from the Mainland China market.
Besides, Smoore experienced a 30 percent year-on-year increase in distribution and selling expenses, administrative expenses, and research and development expenses.
In comparison to the second quarter, the pre-tax profit rose by 10.4 percent, primarily due to a 10 percent quarter-on-quarter increase in revenue.
Source: The Standard
https://www.thestandard.com.hk/section- ... falls-35pc
Smoore's net falls 35pc
China-based atomization technology and e-cigarette giant Smoore International (6969), saw its adjusted net profit for the third quarter of 2023 drop by 35.2 percent year-on-year to 466.9 million yuan (HK$501 million).
Meanwhile, pre-tax profit declined by around 36.3 percent compared to the same period last year, primarily due to a 10.3 percent decrease in its revenue, mainly driven by an 85.6 percent year-on-year drop in revenue from the Mainland China market.
Besides, Smoore experienced a 30 percent year-on-year increase in distribution and selling expenses, administrative expenses, and research and development expenses.
In comparison to the second quarter, the pre-tax profit rose by 10.4 percent, primarily due to a 10 percent quarter-on-quarter increase in revenue.
Source: The Standard
https://www.thestandard.com.hk/section- ... falls-35pc
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Re: Smoore Intl 6969
by winston » Mon Oct 16, 2023 2:36 pm
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SMOORE INTL (06969.HK) Rises Over 2%; 3Q Pre-tax Profit Lifts More than 10% QoQ
SMOORE INTL (06969.HK) which crashed 18% on Friday, opened 1.7% higher at $5.9 this morning. It dropped earlier to a new listing low of $5.67, but rebounded afterwards by 4.3% to peak at $6.05.
It trades now at $5.94, up 2.4% against the waning market backdrop, with 28.19 million shares traded, involving $165 million.
SMOORE announced that its profit before tax in 3Q23 fell 36% YoY to RMB526 million, but grew 10.4% in QoQ terms.
Total revenue for the period was RMB2.879 billion, down 10% YoY but up 10.9% QoQ.
AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
SMOORE INTL (06969.HK) Rises Over 2%; 3Q Pre-tax Profit Lifts More than 10% QoQ
SMOORE INTL (06969.HK) which crashed 18% on Friday, opened 1.7% higher at $5.9 this morning. It dropped earlier to a new listing low of $5.67, but rebounded afterwards by 4.3% to peak at $6.05.
It trades now at $5.94, up 2.4% against the waning market backdrop, with 28.19 million shares traded, involving $165 million.
SMOORE announced that its profit before tax in 3Q23 fell 36% YoY to RMB526 million, but grew 10.4% in QoQ terms.
Total revenue for the period was RMB2.879 billion, down 10% YoY but up 10.9% QoQ.
AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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Re: Smoore Intl 6969
by winston » Fri Oct 27, 2023 2:26 pm
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Oct 17, 2023
Daiwa Upgrades SMOORE INTL (06969.HK) to Outperform, Cuts TP to $6.8
Daiwa, in its report, wrote that SMOORE INTL (06969.HK) 's 3Q23 results aligned with expectations, with net profit of RMB467 million, up 3.1% QoQ, meeting 55% of Daiwa's forecast for the company's 2H23 profit.
In addition, SMOORE disclosed that the U.S. Food and Drug Administration (FDA) had issued marketing denial orders (MDOs) for Vuse menthol flavored products, and that a temporary administrative stay of the MDOs had been granted, so that the marketing and distribution of menthol-flavored products in the U.S. can continue.
Even if Vuse's menthol flavor will eventually be prohibited in the US, it will be a long process, in Daiwa's view, allowing Vuse to turn its menthol flavor users to tobacco flavor users.
Given that NJOY and Logic have already obtained approvals for their tobacco flavor products (both are supplied by SMOORE), Daiwa remains confident that Vuse's tobacco-flavored products will be greenlighted in the coming weeks, thus serving as a near-term catalyst for SMOORE.
Daiwa upgraded SMOORE from Hold to Outperform with TP cut from $8 to $6.8.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
Oct 17, 2023
Daiwa Upgrades SMOORE INTL (06969.HK) to Outperform, Cuts TP to $6.8
Daiwa, in its report, wrote that SMOORE INTL (06969.HK) 's 3Q23 results aligned with expectations, with net profit of RMB467 million, up 3.1% QoQ, meeting 55% of Daiwa's forecast for the company's 2H23 profit.
In addition, SMOORE disclosed that the U.S. Food and Drug Administration (FDA) had issued marketing denial orders (MDOs) for Vuse menthol flavored products, and that a temporary administrative stay of the MDOs had been granted, so that the marketing and distribution of menthol-flavored products in the U.S. can continue.
Even if Vuse's menthol flavor will eventually be prohibited in the US, it will be a long process, in Daiwa's view, allowing Vuse to turn its menthol flavor users to tobacco flavor users.
Given that NJOY and Logic have already obtained approvals for their tobacco flavor products (both are supplied by SMOORE), Daiwa remains confident that Vuse's tobacco-flavored products will be greenlighted in the coming weeks, thus serving as a near-term catalyst for SMOORE.
Daiwa upgraded SMOORE from Hold to Outperform with TP cut from $8 to $6.8.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Smoore Intl 6969
by winston » Fri Oct 27, 2023 2:37 pm
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UBS Drops SMOORE INTL (06969.HK) TP to $8.11, Rating Kept Buy
2023/10/17
UBS noted in a report that SMOORE INTL (06969.HK) has logged 3Q revenue growth of 10.9%, broadly in line with expectations, with adjusted net profit growth at 3.1%.
Gross margin performance was weaker, mainly due to higher operating expenses.
Revenue continued to improve, driven by strong demand for disposable e-cigarette products in Europe.
Demand is returning to normal following regulatory disruptions on the mainland.
The broker dropped its revenue growth forecasts for SMOORE for 2024 and 2025, and expected its EBITDA to grow at a CAGR of 14% and EPS to grow at a CAGR of 10% between 2023 and 2025.
UBS trimmed its target price for SMOORE from $9 to $8.11, which is equivalent to 21x 2024 P/E on a DCF basis. The broker maintained its rating at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
UBS Drops SMOORE INTL (06969.HK) TP to $8.11, Rating Kept Buy
2023/10/17
UBS noted in a report that SMOORE INTL (06969.HK) has logged 3Q revenue growth of 10.9%, broadly in line with expectations, with adjusted net profit growth at 3.1%.
Gross margin performance was weaker, mainly due to higher operating expenses.
Revenue continued to improve, driven by strong demand for disposable e-cigarette products in Europe.
Demand is returning to normal following regulatory disruptions on the mainland.
The broker dropped its revenue growth forecasts for SMOORE for 2024 and 2025, and expected its EBITDA to grow at a CAGR of 14% and EPS to grow at a CAGR of 10% between 2023 and 2025.
UBS trimmed its target price for SMOORE from $9 to $8.11, which is equivalent to 21x 2024 P/E on a DCF basis. The broker maintained its rating at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Smoore Intl 6969
by winston » Wed Jan 31, 2024 12:33 pm
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Daiwa Lowers SMOORE INTL (06969.HK) TP to $6; UK's Plan to Ban Disposable E-cigar Net Positive
According to a research report by Daiwa, a number of media recently reported that the UK may announce a plan to ban disposable e-cigarettes in the country in order to cope with the rising number of teenagers smoking e-cigarettes.
Assuming that the plan is fully enforced, the broker believed it is a long-term positive for SMOORE INTL (06969.HK) and that it will cause some users to switch to purchasing higher-margin pod-based vapes, in which SMOORE has a leading market position.
Related News: SMOORE INTL Forecasts Annual Profit to Drop 28%-41%
Daiwa expected the ban to take effect in 2025 at the earliest, with limited impact on the profitability of SMOORE in the short term.
In light of the fact that R&D expenses may remain high, the broker lowered its 2024-2025 EPS forecast by 8%-9%, and cut its TP from $6.8 to $6.
The rating was kept at Outperform.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
Daiwa Lowers SMOORE INTL (06969.HK) TP to $6; UK's Plan to Ban Disposable E-cigar Net Positive
According to a research report by Daiwa, a number of media recently reported that the UK may announce a plan to ban disposable e-cigarettes in the country in order to cope with the rising number of teenagers smoking e-cigarettes.
Assuming that the plan is fully enforced, the broker believed it is a long-term positive for SMOORE INTL (06969.HK) and that it will cause some users to switch to purchasing higher-margin pod-based vapes, in which SMOORE has a leading market position.
Related News: SMOORE INTL Forecasts Annual Profit to Drop 28%-41%
Daiwa expected the ban to take effect in 2025 at the earliest, with limited impact on the profitability of SMOORE in the short term.
In light of the fact that R&D expenses may remain high, the broker lowered its 2024-2025 EPS forecast by 8%-9%, and cut its TP from $6.8 to $6.
The rating was kept at Outperform.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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Re: Smoore Intl 6969
by winston » Thu Feb 15, 2024 11:25 am
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SMOORE INTL Forecasts Annual Profit to Drop 28%-41%
2024/01/31
SMOORE INTL (06969.HK) issued a profit warning. It expected a profit for the year ended 31 December 2023 at RMB1.48-1.809 billion, down 27.9%-41% yearly.
The Group's profit decreased due to the year-on-year decrease in revenue during the period, mainly attributable to a year-on-year decrease in revenue from the mainland China market and the steady growth in revenue from overseas markets was insufficient to offset the significant decrease in revenue from the mainland China market;
The gross profit margin decreased on a year-on-year basis, mainly attributable to the significant year-on-year decrease in the proportion of the relatively high gross profit margin pod system products revenue from the mainland China market in the revenue of the Group.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
SMOORE INTL Forecasts Annual Profit to Drop 28%-41%
2024/01/31
SMOORE INTL (06969.HK) issued a profit warning. It expected a profit for the year ended 31 December 2023 at RMB1.48-1.809 billion, down 27.9%-41% yearly.
The Group's profit decreased due to the year-on-year decrease in revenue during the period, mainly attributable to a year-on-year decrease in revenue from the mainland China market and the steady growth in revenue from overseas markets was insufficient to offset the significant decrease in revenue from the mainland China market;
The gross profit margin decreased on a year-on-year basis, mainly attributable to the significant year-on-year decrease in the proportion of the relatively high gross profit margin pod system products revenue from the mainland China market in the revenue of the Group.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Smoore Intl 6969
by winston » Tue Mar 19, 2024 9:24 am
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ANNOUNCEMENT OF THE ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023
Revenue FY: -7%; RMB 11.2b
Profits: -36%; RMB 1.6b
Cash: RMB 5b
Revenue from Mainland China market was approximately RMB163,008,000, representing a decrease of approximately 92.7% compared to last year and the proportion of total revenue decreased from approximately 18.5% last year to approximately 1.5% in the Review Period;
Revenue from corporate client oriented sales decreased by approximately 12.7% as compared to last year and the proportion of total revenue decreased from approximately 87.9% last year to approximately 83.5% in the Review Period;
https://www1.hkexnews.hk/listedco/listc ... 801982.pdf
ANNOUNCEMENT OF THE ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023
Revenue FY: -7%; RMB 11.2b
Profits: -36%; RMB 1.6b
Cash: RMB 5b
Revenue from Mainland China market was approximately RMB163,008,000, representing a decrease of approximately 92.7% compared to last year and the proportion of total revenue decreased from approximately 18.5% last year to approximately 1.5% in the Review Period;
Revenue from corporate client oriented sales decreased by approximately 12.7% as compared to last year and the proportion of total revenue decreased from approximately 87.9% last year to approximately 83.5% in the Review Period;
https://www1.hkexnews.hk/listedco/listc ... 801982.pdf
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