Shares of SMOORE INTL (06969) climbed more than 4% during the afternoon session, last up 4.03% at HK$9.685 with turnover reaching HK$80.45 million. The rally follows British American Tobacco's U.S. launch of fruity e-cigarette products under its VUSE brand, which marks a substantial commercial move after the U.S. Food and Drug Administration adjusted its enforcement priorities. SMOORE INTL is involved in production and is well-positioned to benefit from the subsequent volume ramp-up.
This development comes after the FDA in May approved four flavored e-cigarette products under the Glas brand, the first time the agency has cleared non-tobacco and non-menthol ENDS products—a move with significant regulatory precedent. Meanwhile, CMB International Securities highlighted in a research note that SMOORE INTL's heat-not-burn (HNB) business generated RMB962 million in revenue during the first half, a substantial 322.1% year-over-year increase. HNB now contributes 13.3% of the company's total revenue and represents its core growth engine, driven primarily by large-scale shipments to its key customer starting in the second half of 2025. This collaboration has already enabled product launches in nine global markets, with the company's terminal market share steadily climbing.
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