Smoore International (6969.HK) climbed more than 3% in Hong Kong trading to HK$9.610 after reporting a 19.9% jump in first-half revenue to 7.21 billion yuan. Net profit rose 16.2% to 572 million yuan, with the board proposing an interim dividend of HK$0.20 per share.
Business-to-business revenue surged 24.7% to 5.91 billion yuan, driven by heat-not-burn (HNB) products, while own-brand sales edged up just 1.9% to 1.3 billion yuan. Gross margin narrowed 5.1 percentage points to 32.2%, trailing market forecasts.
Shares drew additional support after Hang Seng Indexes opened a consultation on revamping the Hang Seng TECH Index methodology, with CITIC Securities flagging Smoore as a potential inclusion. China's draft mandatory national standard for heated cigarettes, released in late July, also underpinned sentiment around the domestic HNB market opening.