HK Stock Market Move | SMOORE INTL (06969) opened more than 4% lower; third-quarter revenue fell about 6% year-on-year, while profit rose about 18% quarter-on-quarter.

SMOORE INTL (06969) opened more than 4% lower, down 4.27% as of press time at HK$8.525, with a turnover of HK$2.0375 million. On the news front, on the evening of October 12, SMOORE INTL announced that in the third quarter of 2026, the group achieved revenue of approximately RMB3.946 billion, up about 17.7% quarter-on-quarter and down about 6.0% year-on-year; profit for the period was approximately RMB365 million, up about 18.0% quarter-on-quarter, mainly driven by revenue and gross profit growth in the U.S. market e-vapor business and the HNB business. In the first three quarters of this year, the company achieved revenue of approximately RMB11.155 billion, up 9.3% year-on-year. Profit was approximately RMB937 million, up 15.8% year-on-year. It is worth noting that on October 12, the Ministry of Finance and the State Taxation Administration issued an announcement on adjusting the export tax rebate policy for certain products, adjusting the export tax rebate policy for certain products. Starting from April 1, 2027, the VAT export tax rebate for products such as e-cigarette devices will be cancelled. Analysts pointed out that the policy is not simply "comprehensively positive" for the e-cigarette sector, but will compress export profits in the short term and accelerate industry consolidation in the long term.