来源：金吾财讯 金吾财讯 | 思摩尔国际(06969)公告公布截至2025年9月30日止未经审核的综合管理账目。第三季，收入 录得41.97亿元(人民币，下同)，创单季度收入历史新高，同比增长27.2%，环比增长27.5%。 期内，经调整溢利4.44亿元，同比增长约4.0%，环比增长约4.8%。增长的主要原因为：1)收入和毛利额 的增长；2)剔除以股份为基础的付款开支后，分销及销售开支、行政开支及研发开支三项期间费用的增 长率低于收入的增长率；3)其他收入及收益的增加。 ...

亿纬锂能（300014）(300014.SZ)发布公告，思摩尔国际董事决定向于2025年9月11日名列其股东名册之 思摩尔国际拥有人派付中期股息每股20港仙。截至本公告披露日，公司全资孙公司EVE BATTERY INVESTMENT LTD.收到该笔现金分红款3.748亿港币。公司对思摩尔国际的长期股权投资按权益法核 算，该笔分红款对公司2025年度合并报表净利润无影响。 ...

Group 1 - The core viewpoint of the article highlights the recent stock transfer of Smoore International (06969) from Wing Lung Bank to CITIC Securities, with a market value of HKD 51.96 billion, representing 4.51% of the company's shares [1] - Smoore International reported a revenue of RMB 6.013 billion for the six months ending June 30, 2025, reflecting an 18.3% year-on-year increase [1] - The adjusted profit for the same period was RMB 737 million, showing a decrease of 2.1% year-on-year, while the net profit was RMB 492 million, down 27.96% year-on-year [1] - The basic earnings per share for the company stood at 8.08 cents [1]

Group 1: Market Overview - The Hang Seng Index fell by 0.66%, down 165 points, closing at 25,035 points, while the Hang Seng Tech Index decreased by 1.04% [1] - Early trading volume in Hong Kong stocks reached HKD 210.8 billion [1] Group 2: Chip Industry Insights - According to TrendForce, the proportion of external chip suppliers in China's AI server market is expected to drop from 63% in 2024 to 42% by 2025, while local chip suppliers' share may rise to 40%, indicating a trend towards domestic substitution [1] - Chip stocks saw gains, with Shanghai Fudan up 5.79%, SMIC up 8.27%, and Huahong Semiconductor up 4.64% [1] Group 3: Company Performance Highlights - China Cinda's stock rose by 9.74% after reporting a 5.8% year-on-year increase in net profit for the first half of the year, reinforcing its advantage in the non-performing asset management sector [2] - Yadea Holdings' stock increased by over 5% as its net profit for the first half of the year surged nearly 60%, with the new national standard expected to usher in a new industry cycle [3] - CNOOC's stock rose by 4.4% following a mid-term net profit of approximately CNY 69.5 billion, with further potential in overseas exploration [4] - Television Broadcasts' stock fell over 9%, reporting a loss of HKD 108 million for the first half of the year, but expects to achieve positive net profit for the year [5] - Alibaba's stock declined by 3.74% ahead of its first fiscal quarter earnings report, with market concerns regarding the impact of flash sale investments on profits [6] - Lao Pu Gold's stock dropped nearly 4% due to a reduction in shares by the company's incentive platform, although the controlling shareholder did not sell any shares [7] - Smoore International's stock fell over 8%, with a nearly 28% year-on-year decrease in net profit for the first half of the year, affected by increased R&D expenditures [8]

Core Viewpoint - Smoore International (06969) experienced a significant stock price fluctuation, initially rising over 8% before closing up 6.25%, but later fell by 5.88% to HKD 22.08 with a trading volume of HKD 683 million [1] Financial Performance - For the first half of 2025, Smoore International reported revenue of RMB 6.013 billion, representing a year-on-year increase of 18.3% [1] - Adjusted profit for the period was RMB 737 million, a decrease of 2.1% year-on-year [1] - Net profit for the period was RMB 492 million, reflecting a significant year-on-year decline of 27.96% [1] Dividend Announcement - In celebration of the company's fifth anniversary since its listing, the board declared an interim dividend of HKD 0.20 per share for the six months ending June 30, 2025, compared to HKD 0.05 per share in the same period last year [1] Analyst Insights - According to a report from Bank of America Securities, the company is expected to see a slight improvement in annual revenue growth, but profit margins are anticipated to remain under pressure [1]

Core Viewpoint - Bank of America Securities reports that Smoore International (06969) experienced an 18% year-on-year increase in revenue for the first half of the year, while net profit after tax fell by 2.5%, which is roughly in line with expectations [1] Financial Performance - Smoore International's revenue growth for the full year is expected to improve slightly, but profit margins are anticipated to remain under pressure [1] - The bank has lowered its earnings per share estimates for the company by 5% and 10% for the current and next year, respectively [1] Target Price Adjustment - The target price for Smoore International has been reduced by 6% to HKD 8.7 [1] - The rating has been reaffirmed as "underperform" [1]

Core Viewpoint - Smoore International (06969) experienced a significant stock price fluctuation, initially rising over 8% before closing up 6.25%, but later falling 5.88% to HKD 22.08, with a trading volume of HKD 683 million [1] Financial Performance - For the first half of 2025, Smoore International reported revenue of RMB 6.013 billion, representing a year-on-year increase of 18.3% [1] - Adjusted profit for the period was RMB 737 million, a decrease of 2.1% year-on-year [1] - Net profit for the period was RMB 492 million, reflecting a significant year-on-year decline of 27.96% [1] Dividend Announcement - In celebration of its fifth anniversary since listing, the board declared an interim dividend of HKD 0.20 per share for the six months ending June 30, 2025, compared to HKD 0.05 per share in the same period last year [1] Analyst Insights - According to a report from Bank of America Securities, the company is expected to see slight improvement in annual revenue growth, but profit margins are anticipated to remain under pressure [1]

Core Viewpoint - Smoore International (06969) experienced a significant stock price fluctuation, initially rising over 8% before closing up 6.25%, but later fell by 5.88% to HKD 22.08 with a trading volume of HKD 683 million [1] Financial Performance - For the first half of 2025, Smoore International reported revenue of RMB 6.013 billion, representing a year-on-year increase of 18.3% [1] - Adjusted profit for the period was RMB 737 million, a decrease of 2.1% year-on-year [1] - Net profit for the period was RMB 492 million, reflecting a significant year-on-year decline of 27.96% [1] Dividend Announcement - In celebration of its fifth anniversary since listing, the board declared an interim dividend of HKD 0.20 per share for the six months ending June 30, 2025, compared to HKD 0.05 per share in the same period last year [1] Analyst Insights - According to a report from Bank of America Securities, the company is expected to see slight improvement in annual revenue growth, but profit margins are anticipated to remain under pressure [1]

Core Viewpoint - Smoore International (6969.HK) shares rose over 9% to HKD 24.12, reaching the highest level since June 2022, following the release of its financial results for the first half of the year [1] Financial Performance - The company reported a revenue of HKD 60.13 billion for the six months ending June 30, representing an increase of 18.29% year-on-year [1] - Shareholder profit decreased to HKD 4.92 billion, down 27.96% year-on-year, with basic earnings per share at HKD 0.0808 [1] Dividend Announcement - To celebrate its 5th anniversary since listing and to express gratitude to shareholders, the company declared an interim dividend of HKD 0.20 [1]

Core Viewpoint - UBS has raised the target price for Smoore International (06969.HK) to HKD 14 while maintaining a "Sell" rating, citing a significant increase in revenue from ODM and HNB businesses, despite rising competition and associated costs [1] Financial Performance - The company reported a year-on-year revenue growth of 18% in the first half of the year, attributed to a recovery in the vape business and preemptive increases in shipment volumes ahead of U.S. tariffs [1] - UBS has updated its earnings forecasts for Smoore International for 2025 to 2027, with adjustments of -21%, +1%, and +21% respectively [1] Profit Outlook - The company is expected to see a year-on-year decline in net profit of 21% to 35% in the second half of the year, primarily due to high expenses related to stock options granted in the fourth quarter and S&D costs [1] Valuation - UBS maintains that Smoore International's valuation is rich and already reflects the growth potential from Vapes and HNB [1] - The target price has been increased from HKD 10.7 to HKD 14 [1]