Chinese vaping device maker Smoore falls as Hong Kong to ban e-cigarettes

Smoore International Holdings

22/10/2021 07:04

** Shares of China's vaping device maker Smoore
International Holdings Ltd  6969.HK  fall as much as 4.3% to
HK$37.70, biggest intraday decline since Oct. 8, after Hong Kong
passed a bill banning import and sale of electronic cigarettes
and heated tobacco products in the city 
    ** Stock of EVE Energy-backed  300014.SZ  company set for
third straight session of losses 
    ** Hong Kong's Hospital Authority (HA) welcomed the passage
of the Smoking (Public Health) (Amendment) Bill 2019 by the
Legislative Council on Oct. 21 (https://bit.ly/3b1MGpW)
    ** HA says the bill helps safeguard public health by
discouraging the consumption of alternative smoking products and
minimising the impact of passive smoking on the public 
    ** For Smoore, Hong Kong contributed 25.5% of its revenue
for six months ended in June, while mainland China accounted for
45.4% with Europe and the U.S. at a respective 13.2% and 11.9% 
    ** Smaller rival China Boton Group  3318.HK  falls 2.6% 
    ** Hang Seng consumer goods and services index  .HSCGSI 
rises 1.5% and Hang Seng Composite Index  .HSCI  gains 0.5%
    ** The Hang Seng China Enterprises index  .HSCE  climbs
0.9%, and the benchmark index  .HSI  gains 0.3%
    ** Smoore stock has fallen 34.2% this year by last close
    
    

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