Vaping device maker Smoore hits record low on weak earnings forecast

China Boton

31/01/2024 03:57

** Shares of Smoore International Holdings Ltd  6969.HK 
drop 3.6% to HK$4.77, their lowest level since July 2020 debut;
on track for fourth straight session of decline
    ** The vaping device maker estimates its 2023 net profit to
drop 27.9%-41% YoY, citing shrinking revenue from the mainland
China market 
    ** Shares of rivals also fall with China Boton Group
 3318.HK  down 9%, Huabao International  0336.HK  falling 1.8%
and China Tobacco International  6055.HK  slipping 0.2%
    ** Hang Seng Consumption Index  .HSCGSI  sheds 1.5%, while
Hang Seng Composite Index  .HSCI  and Hang Seng Index  .HSI 
both drop 1.1%
    ** Smoore shares down ~27% YTD 


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))