HK Stock Market Move | SMOORE INTL (06969) rose more than 5% in early trading. The State Tobacco Monopoly Administration has issued new regulations on electronic cigarettes, guiding the industry to moderate concentration and strict control of production capacity.

SMOORE INTL (06969) rose more than 5% in early trading, and as of the time of writing, it was up 3.61%, at HK$7.74, with a turnover of HK$54.607 million. On the news front, on July 3, the State Tobacco Monopoly Administration issued "Several Policy Measures (Trial) to Promote the Legalization and Standardization of the Electronic Cigarette Industry", promoting the standardized development of the electronic cigarette industry. The document points out that based on the current industry situation, it will align with regional development strategies, guide the industry to moderately concentrate in regions with industrial foundations and conditions, while strengthening control over raw material channels to reasonably ensure the supply of raw materials for production. In addition, the policy also proposes to adjust and optimize the industrial structure, strictly control the increase in production capacity, and reasonably control the scale of production capacity to prevent overcapacity, and guide companies that are not adapting to market competition to orderly exit. It is understood that this policy, released this time, is one of the 7 electronic cigarette regulatory documents revised by the State Tobacco Monopoly Administration.