Core Insights - The company reported a revenue of approximately RMB 4.197 billion for the quarter ending September 30, 2025, representing a year-on-year growth of 27.2% and a quarter-on-quarter growth of 27.5% [1] Business Segments - In the enterprise customer segment, both the heated non-combustion and electronic vaporization businesses achieved growth both year-on-year and quarter-on-quarter. The heated non-combustion business benefited from strategic clients launching new products in major global markets, leading to a significant increase in shipment volume. The electronic vaporization business saw growth due to strengthened regulation on non-compliant products, with the company supporting clients in launching new compliant products [1] - In the proprietary brand segment, the successful iteration of flagship series new products in the first half of the year expanded the consumer base. Increased localization operations and marketing investments contributed to healthy revenue growth [1] Financial Performance - The adjusted profit for the quarter was approximately RMB 444 million, reflecting a year-on-year increase of 4.0% and a quarter-on-quarter increase of 4.8%. The growth was attributed to increases in revenue and gross profit, a lower growth rate of operating expenses compared to revenue growth, and an increase in other income and gains [1]
思摩尔国际三季度实现收入41.97亿元 同比增长27.2%