Core Viewpoint - Smoore International (06969) has seen a significant decline in stock price, dropping over 30% from its year-to-date high, with a current trading price of 16.08 HKD [1] Company Summary - Smoore International's stock fell over 7%, reaching a low of 15.85 HKD during trading, with a trading volume of 261 million HKD [1] - UBS reported a meeting with Japan Tobacco's management and an investor meeting with Smoore's management in Shenzhen [1] Industry Summary - The U.S. has intensified its crackdown on illegal e-cigarettes since early 2025, but inconsistent enforcement may weaken its impact, as indicated by a 39% increase in e-cigarette exports from China in August [1] - UBS forecasts a 20% year-on-year revenue growth for Smoore International in 2025, driven primarily by e-cigarette sales, but anticipates a 40% decline in net profit due to rising R&D and sales expenses, along with margin pressure [1] - UBS's net profit projections for Smoore International from 2025 to 2027 are 18-45% lower than market consensus, maintaining a "Sell" rating with a target price of 13.11 HKD [1]
港股异动 | 思摩尔国际(06969)再跌超7% 较年内高点已跌超30% 瑞银称其盈测较市场共识更低