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港股概念追踪|海外新型烟草渗透率提升趋势明显 产业链龙头企业受益(附概念股)
智通财经网· 2025-05-19 01:23
Group 1 - The global tobacco market is projected to reach $951.4 billion in 2024, with a year-on-year growth of 2.6% [1] - Cigarettes and cigars are expected to account for $775.6 billion, while new tobacco products will reach $87 billion, showing significant growth in the latter category at 13.1% [1] - The new tobacco sector, including e-cigarettes and heated tobacco products, is anticipated to grow, with e-cigarettes projected at $23 billion and heated tobacco at $38.9 billion, reflecting growth rates of 9% and 13% respectively [1] Group 2 - Smoore International (06969) is positioned as a leading manufacturer of vaporized electronic products, with positive feedback on its Glo Hilo product linked to British American Tobacco [2] - The HNB business of Smoore International is expected to show strong growth and profitability potential by 2026 as market penetration increases [2] - China Tobacco Hong Kong (06055) is advancing its exclusive cigarette export business through a framework agreement with Mongkun Company, which is expected to enhance revenue and profitability [2]
增长前景令人期待!大摩评菲利普莫里斯(PM.US)为顶级必需消费品股
Zhi Tong Cai Jing· 2025-05-07 01:47
Core Viewpoint - Morgan Stanley has identified Philip Morris (PM.US) as one of the most attractive consumer staples stocks for investors, assigning it an "overweight" rating, highlighting its defensive product portfolio and benefits from a weaker dollar [1] Group 1: Investment Potential - Philip Morris is noted for having the highest long-term growth potential among large-cap consumer goods peers, with a current stock price approximately 27% below its theoretical fair value based on long-term organic sales growth and 2026 price-to-earnings ratio analysis [1] - Analysts expect the gap in growth between Philip Morris and its peers to widen, with the share of smoke-free products in sales structure projected to increase from 55% to 65% over the next five years, which is anticipated to narrow the current discount [1] Group 2: Financial Performance - The company reported first-quarter earnings that exceeded market expectations, with adjusted operating profit of $3.79 billion, surpassing the consensus estimate of $3.61 billion [1] - Earnings per share were reported at $1.69, exceeding market expectations of $1.61 and up from $1.50 in the same period last year [1] - Notably, the smoke-free business accounted for 42% of total net revenue in the quarter, contributing 44% to total gross profit, with smoke-free products available in 95 markets and multi-category smoke-free product offerings deployed in 46 markets [1]