SMORE International (06969) announced interim results, adjusted profit of about 757 million yuan, increased 2.6% year over year

According to the Zhitong Finance App, Smore International (06969) announced its 2026 interim results, with revenue of approximately $7.209 billion, up 19.9% year on year; gross profit of about HK$2,322 million, up 3.5% year on year; profit for the period was about $572 million, up 16.2% year on year; profit for the adjusted period was about 757 million yuan, up 2.6% year on year.

According to the announcement, revenue growth was mainly driven by the Group's ToB business, in particular the continued expansion of its electronic atomization and HNB business. During the review period, the ToB business contributed about 5.91 billion yuan in revenue, an increase of about 24.7% over the previous year. The ToB business mainly includes the sale of electronic atomization products, HNB products, and special purpose atomization products, and the provision of technical services related to nebulized medical treatment. During the period under review, each of these businesses achieved year-on-year revenue growth.

The increase in profit during the period was mainly due to (i) the increase in revenue from business targeting corporate customers during the review period, mainly driven by revenue from heated non-combustible products and electronic atomization products; and (ii) the Group's share-based payment expenses during the review period decreased compared to the same period last year due to the gradual expiration of certain share-based payment confirmation periods.