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Smoore International Holdings Limited (6969) AI Stock Analysis
Smoore International Holdings Limited
(HKEX:6969)
The score is held back primarily by compressed profitability and inconsistent cash generation (negative free cash flow in 2025) despite a strong, low-leverage balance sheet. Technically, the stock is in a clear downtrend below major moving averages with bearish momentum, though it appears oversold. Valuation is mixed: the ~5% yield helps, but a ~36.9 P/E looks demanding given the weakened margins and returns.
Smoore International Holdings Limited (6969) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 51.49B
- Dividend Yield
- 4.81%
- Average Volume (3M)
- 12.43M
- Price to Earnings (P/E)
- 37.7
- Beta (1Y)
- 0.89
- Revenue Growth
- 25.00%
- EPS Growth
- 6.03%
- Country
- Hong Kong
- Employees
- 23,130
- Sector
- Consumer Defensive
- Sector Strength
- 62
- Industry
- Tobacco
Smoore International Holdings Limited Business Overview & Revenue Model
Company Description
Smoore International Holdings Limited operates as an investment holding company, specializing in comprehensive vaping technology solutions. The firm actively researches, designs, and manufactures closed-system vaping devices and components, supplying...
How the Company Makes Money
Smoore makes money mainly by selling vaping hardware and atomization-related products and services. (1) OEM/ODM manufacturing: A core revenue stream comes from designing and manufacturing vaping devices and components for third-party brands. In this...
Smoore International Holdings Limited Financial Statement Overview
Summary
Financials are mixed: revenue has returned to growth into 2025, and leverage remains very low, but profitability has materially deteriorated (gross margin down from ~53.6% in 2021 to ~32.8% in 2025; net margin down from ~38.4% to ~7.5%) and ROE has cooled (~27.5% to ~4.7%). Cash quality is a key concern as free cash flow turned negative again in 2025 and cash conversion weakened versus earnings.
Income Statement
58NeutralBalance Sheet
78PositiveCash Flow
42Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.35B | 14.26B | 11.80B | 11.17B | 12.14B | 13.76B |
| Gross Profit | 4.86B | 4.93B | 4.41B | 4.37B | 5.26B | 7.38B |
| EBITDA | 1.45B | 1.39B | 1.27B | 2.24B | 2.58B | 5.75B |
| Net Income | 1.14B | 1.06B | 1.30B | 1.65B | 2.51B | 5.29B |
Balance Sheet | ||||||
| Total Assets | 25.79B | 28.55B | 27.65B | 25.51B | 24.36B | 22.87B |
| Cash, Cash Equivalents and Short-Term Investments | 10.90B | 10.83B | 12.49B | 16.17B | 15.19B | 14.66B |
| Total Debt | 649.27M | 2.23B | 1.88B | 776.39M | 558.55M | 757.58M |
| Total Liabilities | 4.71B | 6.66B | 5.75B | 4.10B | 3.98B | 3.62B |
| Stockholders Equity | 21.04B | 21.86B | 21.90B | 21.41B | 20.38B | 19.25B |
Cash Flow | ||||||
| Free Cash Flow | 50.17M | -363.40M | 717.57M | 1.96B | -1.22B | 1.61B |
| Operating Cash Flow | 659.95M | 486.88M | 1.75B | 3.19B | 469.86M | 3.59B |
| Investing Cash Flow | 205.83M | 2.65B | -1.86B | -7.02B | -2.42B | -5.23B |
| Financing Cash Flow | -2.47B | -885.94M | -45.71M | -612.36M | 276.19M | 3.52B |
Smoore International Holdings Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6969, the sentiment is Negative. The current price of 8.45 is below the 20-day moving average (MA) of 8.57, below the 50-day MA of 9.30, and below the 200-day MA of 9.39, indicating a bearish trend. The MACD of -0.27 indicates Negative momentum. The RSI at 40.17 is Neutral, neither overbought nor oversold. The STOCH value of 62.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6969.
Smoore International Holdings Limited Peers Comparison
Overall Rating
HK:605575Outperform- HK:696955Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:6055 | 75Outperform | HKD 17.33B | 19.13 | 23.45% | 2.08% | -19.64% | -1.72% |
| Sector * | 62Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% |
| HK:6969 | 55Neutral | HKD 51.49B | 37.71 | 5.29% | 4.81% | 25.00% | 6.03% |
* Consumer Defensive Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:6969 | Smoore International Holdings Limited | 8.31 | -4.42 | -34.74% | |
| HK:6055 | China Tobacco International (HK) Co | 25.06 | -12.63 | -33.51% |
Smoore International Holdings Limited Corporate Events
Smoore Boosts Share Award Plan With HK$49.9 Million Share Purchase
Smoore International Holdings Limited has disclosed that the trustee of its share award plan purchased 6,229,000 shares on the market on 13 October 2026 at an average price of about HK$8.01 per share, for a total consideration of approximately HK$49....
Smoore Posts Strong Q3 Profit Growth on Core Vaping Business
Smoore International Holdings reported unaudited revenue of RMB3,946.2 million for the three months ended 30 September 2026, up 17.7% quarter-on-quarter but down 6.0% year-on-year. Corporate client revenue rose sequentially yet fell year-on-year, whi...
Smoore Grants 3.67 Million Share Options Under Amended Employee Scheme
Smoore International Holdings has granted 3,670,000 share options to six employees under its amended share option scheme, with an exercise price of HK$10.18 per share and a 10-year validity period ending in August 2036. The options will vest in tranc...
Smoore Grants 2.2 Million Performance-Based Shares to Employees
Smoore International Holdings has granted 2,200,000 awarded shares at no purchase price to seven employees under its amended share award scheme, with each award entitling the holder to receive a share upon vesting. The grants, made on 24 August 2026...
Smoore Delivers Strong Revenue Growth but Faces Margin Pressure in First Half 2026
Smoore International Holdings reported unaudited interim results for the six months ended 30 June 2026, showing revenue of RMB 7.21 billion, up 19.9% year-on-year, and profit for the period of RMB 571.9 million, an increase of 16.2%. Despite this top...
Smoore International Declares HKD 0.2 Interim Dividend for First Half of 2026
Smoore International Holdings Limited, listed on the Hong Kong Stock Exchange under stock code 06969, maintains a standard corporate governance mix of executive, non-executive and independent non-executive directors. Its use of a professional share r...
Smoore Sets August Board Meeting to Approve 2026 Interim Results and Dividend
Smoore International Holdings has scheduled a board meeting for 19 August 2026 to review and approve the Group’s interim financial results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividen...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 14, 2026