Smoore Intl 6969

[winston]

not vested

SMOORE INTL Annual NP Fades 34.5% to RMB1.645B; Final DPS HK5 Cents

SMOORE INTL (06969.HK) announced its annual results for the year ending 2023, with revenue of RMB11.168 billion, down 8% YoY.

It recorded net profit of RMB1.645 billion, down 34.5%, with an EPS of RMB27.01 cents.

A final dividend of HK5 cents was declared, versus HK8 cents over a year ago.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

vested

Daiwa Hikes SMOORE INTL (06969.HK) TP to $8, Looks forward to 2024 Profit Growth

The management of SMOORE INTL (06969.HK) expected double-digit revenue growth for 2024 after two years of revenue regression, Daiwa said in its report.

Earnings growth was estimated to slacken mainly due to continued investment in R&D of new products, and the product and revenue mix to be more diversified.

The broker envisaged the worst is over and reiterated Outperform on SMOORE INTL, with a target price raised from $6 to $8.

SMOORE INTL said the outlook for revenue growth in the U.S. and China remained highly dependent on regulatory rules.

The broker estimated that both markets will track a step forward in this year's recovery from last year's low base.

The broker raised its profit forecast for 2024 and 2025 by 1%-2% to reflect the higher revenue growth forecast.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

BofAS Reduces TP of SMOORE INTL (06969.HK) to $5.4; 2023 Revenue Miss

BofA Securities highlighted in a report that SMOORE INTL (06969.HK) 's revenue fell 8% YoY to RMB11.2 billion last year, 8% lower than the prediction, mainly due to worse-than-expected sales of e-cigarettes and disposable products.

Net profit after tax fell 34.5% YoY to RMB1.65 billion, broadly in line with expectations.

The broker commented that SMOORE's sales in China this year are already at a low level, and a turnaround in sales is expected, driven by disposables, private label products and cannabidiol (CBD) products, although e-cigarette sales are likely to fall slightly again.

Earnings are expected to be broadly flat YoY on the back of lower gross margin expectations, higher marketing spend, and continued investment in R&D for healthcare and heat-not-burn (HNB) products.

BofAS lowered its adjusted EPS forecasts on SMOORE for 2024 and 2025 by 15% and 12% respectively, and chopped its target price from $6.3 to $5.4.

The broker kept its Underperform waiting, citing low visibility of profitability, unfavourable regulatory factors on e-cigarettes and disposable products, as well as a high P/E ratio of 23x for this year.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN