HK Stock Market Move | SMOORE INTL (06969) surged over 10% in the afternoon, with revenue in the first half of the year increasing nearly 20% year-on-year and HNB business experiencing significant growth.

SMOORE INTL (06969) rose over 10% in the afternoon, and as of press time, it was up 8.85%, trading at HKD 10.15, with a transaction volume of HKD 406 million. In terms of news, SMOORE INTL announced its performance, reporting a revenue of RMB 7.209 billion in the first half of the year, a year-on-year increase of 19.9%; the profit was RMB 572 million, an increase of 16.2% year-on-year. Management pointed out that the company's ToB business performed strongly, particularly with the continued expansion of electronic vaping and HNB (heat-not-burn) businesses, contributing around RMB 5.910 billion in revenue, a year-on-year growth of approximately 24.7%. It is noteworthy that the revenue from the HNB business was around RMB 962 million, a year-on-year increase of approximately 322.1%, primarily due to shipments to a core customer that began in the second half of last year. During the review period, the group continued to support customers in expanding HNB products to more global markets. The group views HNB as a long-term growth opportunity and will continue to commit to supporting the long-term development of the HNB business to unleash its growth potential.