HK Stock Market Move | Afternoon rise of over 6% for Smoore International Ltd (06969) recently released equity incentive plan, the company benefits from the large customer HNB's new product volume.

SMOORE INTL (06969) rose by over 6% in the afternoon, with a 5.24% increase at the time of publication, reaching HK$13.26 with a turnover of HK$2.66 billion. In terms of news, on December 27th, SMOORE INTL announced plans to conditionally grant 61 million share options to Mr. Chen Zhiping, the chairman of the board, executive director, and major shareholder of the company. Sinolink pointed out that SMOORE INTL recently released a new stock incentive plan with unlocking conditions when the market value reaches HK$300-500 billion, with the main performance driver being the contribution of new HNB products and benefits from the expanding compliant market for electronic vaporizers. China Securities Co., Ltd. stated that SMOORE INTL's major client, British American Tobacco, recently launched a breakthrough new HNB product, glohilo, in Serbia; the company has been investing heavily in non-combustion heating technology research and development for many years, and deep cooperation with major clients is expected to benefit from the volume increase of new products. UBS also mentioned that British American Tobacco is expected to officially launch this new product in the second half of this year, with actual results potentially observable after next year. The bank believes that SMOORE's stock price is overvalued.