Financial Data and Key Metrics Changes - Adjusted diluted earnings per share increased by 3.6% in Q3 and by 5.9% for the first nine months [20] - Adjusted operating companies income (OCI) for smokeable products grew by 0.7% to nearly $3 billion in Q3 and by 2.5% to $8.4 billion for the first nine months [20] - Adjusted OCI margins expanded to 64.4% for both Q3 and the first nine months, representing margin growth of 1.3 percentage points and 2.7 percentage points respectively [20] Business Line Data and Key Metrics Changes - Domestic cigarette volumes declined by 8.2% in Q3 and 10.6% for the first nine months when adjusted for trade inventory movements [21] - The oral tobacco products segment saw adjusted OCI decline by less than 1% in Q3, but adjusted OCI increased by 3.3% with margin expansion of 1.8 percentage points to 69% [24][25] - Helix's reported shipment volume for on! increased by nearly 1% in Q3 and approximately 15% for the first nine months [8] Market Data and Key Metrics Changes - The nicotine pouch category grew to 55.7 share points, an increase of 11.1 share points year-over-year [7] - The e-vapor category included approximately 21 million vapers, up nearly 2 million versus a year ago [13] - The discount segment of the industry expanded by 2.4 share points year-over-year, with Basic capturing over half of that growth [23] Company Strategy and Development Direction - The company is focusing on expanding its smoke-free portfolio and exploring international opportunities through a collaboration with KT&G [5][18] - The launch of on! PLUS is seen as a premium product aimed at appealing to both adults who dip and competitive nicotine pouch consumers [10] - The company is committed to returning value to shareholders, as evidenced by a recent dividend increase and an expansion of the share repurchase program [5][27] Management Comments on Operating Environment and Future Outlook - Management noted that consumers are under pressure but are seeing some consistency in gas prices and inflation [33] - The company is optimistic about the regulatory environment, particularly with recent FDA actions that may streamline product authorizations [16] - The company raised the lower end of its 2025 guidance range, expecting adjusted diluted EPS in the range of $5.37-$5.45, representing a growth rate of 3.5%-5% from a base of $5.19 in 2024 [26] Other Important Information - The company returned nearly $6 billion to shareholders in the first nine months, including $5.2 billion in dividends and $712 million in share repurchases [27] - The balance sheet remains strong, with a debt to EBITDA ratio of 2x as of September 30 [28] Q&A Session Summary Question: Insights on fourth quarter earnings growth and smokeable OCI - Management acknowledged the impact of share repurchase and MSA legal fund expiration on earnings growth, while monitoring consumer spending in a dynamic marketplace [31] Question: Drivers behind the moderation in cigarette industry decline - Management indicated that consistency in consumer pressures and stepped-up enforcement in e-vapor are influencing market dynamics [34] Question: Performance and positioning of on! in a competitive environment - Management expressed satisfaction with on!'s performance despite competitive pressures, highlighting steady retail takeaway volume [37] Question: Opportunities from the KT&G partnership - Management outlined three prongs of the partnership: expanding modern oral initiatives, exploring non-nicotine opportunities, and improving operational efficiencies [40] Question: Pricing strategy for on! PLUS - Management confirmed that on! PLUS is positioned as a premium product, with introductory price promotions planned for its launch [48] Question: Impact of FDA pilot program on product launches - Management emphasized the importance of a functioning regulatory system and indicated that decisions will be made in the long-term best interest of the company [57]

Promotion & Rewards - LBank is promoting a live event called "The Story stream" [1] - The event offers a chance to win $3,000 in USDT, LOOP tokens, and exclusive LBank & LOOP swag [1][2] - 15 exclusive LBank & LOOP swag sets are available [2] Event Details - The event is an open mic session for users to share their stories [2] - The event is happening RIGHT NOW [1] - The event is scheduled for October 21 at 11:00 UTC [2]

The epic LBank 10th Anniversary Livestream is HAPPENING!🎁 MASSIVE GIVEAWAYS LIVE!$5,000 + 2,500 $LOOP + Exclusive Merch & SO much more!🎧 Tune in NOW & win:https://t.co/XC8sklTu9q🎤 Join hosts @xmuha0 & @DavidThaDegen for:Raw alpha & insider insightsIncredible 10-year storiesSecret project reveals#LBank10Years #LiveNow #GiveawayLBank.com (@LBank_Exchange):THE DAY IS ALMOST HERE! Our 10th Anniversary celebration starts TOMORROW! 🥳Join us for an EPIC 10th Anniversary Livestream with @LOOPSPACE_INTL! Hosted by @ ...

Event Overview - Loop Space 联合其他机构举办 LBank 十周年庆祝活动 [2] - 活动预计在 UTC+8 时间 10 月 15 日 22:00 举行 [2] Giveaway Details - 活动提供总价值 5,000 美元的奖金池，以及 2,500 LOOP 代币和独家周边商品 [2] - 奖品包括 20 个 Labubu 盲盒、10 个 LBank 周边和 10 个 LOOP 周边 [2] Web3 Engagement - 活动由 DavidThaDegen 主持，并邀请 LBank 交易所社交媒体和社区负责人 xmuha0 作为特别嘉宾 [2] - 活动预计将汇集 Web3 领域的热门人物，分享行业见解和惊喜 [2]

Core Viewpoint - Altria Group, Inc. (NYSE:MO) is identified as a strong investment opportunity with a Buy rating and a price target of $72 from Bank of America Securities [1] Group 1: Growth Opportunities - The partnership with KT&G Corp is highlighted as a significant step for Altria in expanding its presence in the oral nicotine market [2] - Acquiring a substantial stake in Another Snus Factory enhances Altria's position in the smoke-free product segment [2] - The LOOP brand is recognized as a growth opportunity due to its diverse flavor offerings and varying nicotine levels [2] Group 2: Financial and Regulatory Outlook - Altria's financial strategies focus on optimizing and innovating its programs, which is viewed positively [3] - The company is working on improving its pricing power, which is crucial for its profitability [3] - The current regulatory environment is seen as favorable, supporting Altria's long-term growth prospects [3] Group 3: Company Profile - Altria Group, Inc. is a leading American tobacco company that offers a variety of tobacco products aimed at adult consumers aged 21 and older [3]

Core Insights - KT&G announced growth targets and shareholder return plans during the "2025 KT&G CEO Investor Day" [1][2] - A comprehensive MOU was signed with Altria for strategic collaboration in nicotine and non-nicotine sectors [2][8] Shareholder Return Strategy - KT&G aims for a total payout ratio of 100% or higher and a dividend payout ratio of 50% or higher [3] - The minimum annual dividend per share is set at 6,000 KRW, an increase of 600 KRW from the previous year [4] - Additional share repurchase and cancellation of 260 billion KRW is planned, marking a year-on-year increase of 100 billion KRW [4] Financial Performance - The global cigarette business has achieved five consecutive quarters of "triple growth" in revenue, operating profit, and sales volume [6] - Adjusted operating profit for the first half of 2025 showed a year-on-year growth of 127.8% [6] Strategic Initiatives - KT&G targets double-digit growth for both operating profit and revenue in 2025 [8] - The MOU with Altria includes plans for joint acquisition of a Scandinavian nicotine pouch manufacturer to enter the growing nicotine pouch market [10] - Collaboration will also focus on optimizing the traditional cigarette business and expanding into the U.S. health functional foods market [12][13]