SMOORE INTL (06969) saw an increase of nearly 4%. At the time of writing, the stock was up 2.72%, trading at HK$9.81 with a turnover of HK$95.9992 million.
Recently, Philip Morris International released its first-quarter 2026 results. Changjiang Securities pointed out that PMI's Q1 2026 net revenue reached $10.1 billion, a year-on-year increase of 9.1% (or 2.7% organically). Revenue from reduced-risk products grew by 12.4% year-on-year (5.3% organically), accounting for 43% of total revenue, an increase of 1.3 percentage points. Combustible tobacco revenue rose by 6.7% year-on-year (0.9% organically).
Notably, the company's VEEV brand demonstrated robust growth in the first quarter, with shipment volumes exceeding 1 billion equivalent units for the first time. According to Nielsen data, VEEV shares the top position in the European closed-system e-cigarette cartridge market with its competitors. The product achieved rapid growth in multiple countries including Germany, France, Romania, and Italy, further enhancing the company's portfolio of reduced-risk products.
Previously, SMOORE INTL disclosed its Q1 2026 performance. During the period, revenue from the company's electronic vaporizer products and related technology services, as well as specialty vaporizer products, amounted to approximately RMB 2.524 billion, representing a solid year-on-year growth of 21.8%. Leveraging strong policy foresight, market insight, and excellent manufacturing capabilities, the group further supported its original design manufacturing (ODM) clients in achieving growth across major markets.
CICC believes that with the volume growth of heated tobacco products, stable ODM orders from international tobacco clients, and improved cost control efficiency, the company's adjusted profit for 2026 is expected to grow rapidly in line with revenue.
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