Stock Track | Smoore International Shares Plunge on Disappointing First-Half Results

Stock Track08-20

Shares of Smoore International Holdings Ltd (06969), a leading vaping products manufacturer, plummeted over 8% on Tuesday after the company reported disappointing financial results for the first half of 2024.

According to Smoore's latest earnings report, the company's profit fell 4.8% year-over-year to 683.2 million yuan in the first half, missing analysts' expectations. Earnings per share declined to 0.1111 yuan from 0.1163 yuan a year earlier, below the consensus estimate of 0.12 yuan. Revenue also fell short, decreasing 1.7% to 5.04 billion yuan, compared to analysts' forecast of 5.13 billion yuan.

The lackluster financial performance led to a selloff in Smoore's shares, with the stock tumbling as much as 6.82% in Tuesday's morning trading session. Despite declaring an interim dividend of HK$0.05 per share, investors appeared to be concerned about the company's ability to maintain its growth trajectory in a challenging market environment.

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