HK Stock Market Move | SMOORE INTL(06969) fell more than 4% in the afternoon. Eve Energy Co., Ltd. plans to reduce its stake in SMOORE INTL by up to 3.5%.

SMOORE INTL (06969) fell more than 4% in the afternoon, falling 3.77% to HK$7.65 by the time of publication, with a turnover of HK$291.578 million. On the news front, on the evening of July 3, Eve Energy Co., Ltd. announced that its wholly-owned subsidiary EBIL plans to reduce its stake in SMOORE INTL by no more than 3.5% in the next 12 months, potentially cashing out approximately HK$1.7 billion based on the closing price of that day. The announcement stated that the proceeds from the divestment will be used for the development of the company's research platform and production capacity investment, focusing on the lithium battery core business. It is worth noting that this is the fifth consecutive year that Eve Energy Co., Ltd. has claimed to reduce its stake in SMOORE INTL, but the first three attempts were not actually executed. According to the latest data disclosed in July 2026, Eve Energy Co., Ltd. holds 30.25% of SMOORE INTL through EBIL, approximately 1.874 billion shares; if the current 3.5% divestment plan is fully implemented, its stake will decrease to 26.75%, still making it the second largest shareholder of SMOORE INTL.