Stock Track | Smoore International Stock Plunges on Disappointing Earnings

Stock Track10-09

Shares of Smoore International Holdings, a leading vaping technology company, experienced a significant plunge on October 9, 2024, as the company's latest financial results revealed a concerning decline in profitability despite higher revenue growth.

According to the company's third-quarter earnings report, Smoore International's revenue grew by 14.1% year-over-year, reaching RMB 3.29 billion (HKD 3.86 billion). However, the company's profit after tax saw a substantial drop of 22.5%, falling to RMB 378.9 million (HKD 444.9 million) from RMB 488.7 million (HKD 573.9 million) in the same period last year.

The disparity between the robust revenue growth and the declining profitability has raised concerns among investors about the company's ability to maintain its profit margins in the face of increasing competition and potential regulatory challenges in the vaping industry. As a result, Smoore International's stock price plummeted by 8.05% on October 9, reflecting investor concerns about the company's future growth prospects and profitability.

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