BUZZ-Vaping device maker Smoore hits record low on weak earnings forecast

Reuters01-31

** Shares of Smoore International Holdings Ltd drop 3.6% to HK$4.77, their lowest level since July 2020 debut; on track for fourth straight session of decline

** The vaping device maker estimates its 2023 net profit to drop 27.9%-41% YoY, citing shrinking revenue from the mainland China market

** Shares of rivals also fall with China Boton Group

down 9%, Huabao International falling 1.8% and China Tobacco International slipping 0.2%

** Hang Seng Consumption Index sheds 1.5%, while Hang Seng Composite Index and Hang Seng Index both drop 1.1%

** Smoore shares down ~27% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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