Changes in Hong Kong stocks | Smore International (06969) falls more than 4%, British and American tobacco predicts that growth will slow next year, and the UK e-cigarette tax will soon be implemented

The Zhitong Finance App learned that Smore International (06969) fell by more than 4%. As of press release, it was down 4.53% to HK$11.81, with a turnover of HK$644.65 million.

According to the news, SMOORE's major international customer British American Tobacco (BTI.US) recently announced the latest performance guidelines. It is expected that its 2026 results will be at the low end of the mid-term target due to regulatory pressure and fierce competition in the US e-cigarette market, which offset strong growth in other areas of its business portfolio. According to the latest guidance from British American Tobacco, the 2026 revenue growth rate will fall within the lower limit of the 3%-5% target range, and the adjusted operating profit growth rate is expected to be 4%-6%.

It is worth noting that a new tax policy in the UK is about to be implemented. According to the new regulations, the e-cigarette tax will officially take effect on October 1, 2026. An additional 22 pence tax will be added to each ml of e-cigarette liquid, and it must be levied on top of the existing 20% VAT. Tianfeng Securities said that the UK e-cigarette tax is about to be implemented, and 2ml exchangeable and nicotine bags may become a new frontier.