Core Viewpoint - The company reported its 2025 first-half results, showing revenue growth driven by effective enforcement actions against non-compliant products and the rapid launch of innovative compliant products to meet market demand [1] Group 1: Financial Performance - In H1 2025, the company achieved revenue of 6.013 billion yuan, a year-on-year increase of 18.3%, while net profit was 492 million yuan, a decrease of 28.0% [1] - Adjusted net profit was 737 million yuan, down 2.1% year-on-year [1] - The gross margin for H1 2025 was 37.3%, a decrease of 0.5 percentage points year-on-year [2] Group 2: Business Segments - The self-owned brand business generated revenue of 1.274 billion yuan, up 14.1% year-on-year, with significant growth in Europe and other regions [1] - Revenue from the HNB (Heated Not Burned) business is expected to grow significantly, with the global market projected to reach approximately 66.86 billion USD by 2029, growing at a CAGR of about 10.1% from 2024 to 2029 [2] Group 3: Strategic Initiatives - The company is increasing marketing investments and enhancing employee incentives to solidify long-term competitive advantages [2] - The company is focusing on supporting strategic clients in launching high-end HNB product series in key markets, with positive early consumer feedback [2] Group 4: Future Outlook - The company expects revenue growth for 2025-2027 to be 13.45 billion, 15.49 billion, and 17.66 billion yuan respectively, with year-on-year growth rates of 14%, 15%, and 14% [3] - The company anticipates a significant increase in net profit in 2026 and 2027, with projections of 1.812 billion and 2.595 billion yuan respectively [3]

Core Viewpoint - Smoore International (06969) reported a strong performance in its interim results, with revenue growth driven by effective enforcement actions against non-compliant products and the company's ability to quickly launch innovative compliant products to meet market demand [1] Financial Performance - The company achieved a revenue of RMB 6.013 billion in the first half of the year, representing an increase of 18.3% year-on-year [1] - Adjusted profit for the period was RMB 737 million, a decrease of 2.1% year-on-year, while net profit was RMB 492 million, down 27.96% year-on-year [1] Business Segments - The ToB (business-to-business) segment generated approximately RMB 4.739 billion in revenue, reflecting a year-on-year growth of about 19.5% [1] - The proprietary brand electronic vaporization business achieved revenue of approximately RMB 1.274 billion, with a year-on-year increase of about 14.1%, supported by the strong performance of the leading brand VAPORESSO [1]

Core Viewpoint - Smoore International (06969) reported a revenue of RMB 6.013 billion for the six months ending June 30, 2025, representing an 18.3% year-on-year increase, driven by effective enforcement against non-compliant products and the company's ability to quickly launch innovative compliant products to meet market demand [1] Group 1: Financial Performance - The adjusted profit for the period was RMB 737 million, a decrease of 2.1% year-on-year [1] - The net profit for the period was RMB 492 million, down 27.96% year-on-year [1] - Basic earnings per share were 8.08 cents [1] Group 2: Business Growth Drivers - The company's ToB (business-to-business) segment generated revenue of approximately RMB 4.739 billion, an increase of about 19.5% year-on-year [1] - The proprietary brand electronic vaporization business achieved revenue of approximately RMB 1.274 billion, a year-on-year increase of about 14.1%, supported by strong performance from the leading brand VAPORESSO [1] Group 3: Market Strategy and R&D - The company emphasizes close interaction with end-users to understand consumer preferences and enhance product placement, which drives sales growth [2] - Sales and distribution expenses were approximately RMB 491 million, an increase of about 31.2% year-on-year [2] - The company continues to invest in R&D to maintain its technological leadership, with R&D expenses amounting to approximately RMB 723 million, a decrease of about 4.9% year-on-year [2]

Core Viewpoint - Smoore International (06969.HK) reported a revenue of approximately RMB 6.013 billion for the first half of 2025, representing an increase of about 18.3% compared to the same period last year [1] Financial Performance - The company's profit for the review period was approximately RMB 492 million; adjusted profit, excluding stock-based non-cash payment expenses, was about RMB 737 million [1] - Earnings per share were RMB 8.08 [1] Business Segments - The growth in sales performance was primarily driven by effective enforcement actions against non-compliant products in major global markets and the company's agile ability to launch innovative compliant products to meet market demand [1] - The ToB (business-to-business) segment recorded revenue of approximately RMB 4.739 billion, a year-on-year increase of about 19.5% [1] - The proprietary brand electronic vaporization business achieved revenue of approximately RMB 1.274 billion, reflecting a year-on-year growth of about 14.1%, supported by the strong performance of the leading brand VAPORESSO and expanded channel coverage [1]