Stock Track | Smoore International Shares Tumble on Profit Decline, Missed Expectations

Stock Track08-20

Shares of Smoore International Holdings Ltd (06969), a leading vaping products manufacturer, experienced a significant drop of 6.82% on Tuesday amid concerns over the company's financial performance. According to the company's latest earnings report, Smoore's profit for the first half of 2024 declined by 4.8% year-over-year, falling to 683.2 million yuan.

The disappointing results were further compounded by Smoore missing analysts' expectations for both earnings per share and revenue. The company reported earnings per share of 0.1111 yuan, lower than the consensus estimate of 0.12 yuan, while revenue fell 1.7% to 5.04 billion yuan, slightly below the forecasted 5.13 billion yuan.

Despite declaring an interim dividend of HK$0.05 per share, investors appeared to be unsatisfied with Smoore's overall performance, leading to a selloff in the stock. The company's shares were already down nearly 5% in the morning trading session, reflecting the market's initial reaction to the disappointing results.

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