HK Stock Market Move | SMOORE INTL (06969) rose more than 4% in the afternoon, the aerosol main business continues to recover, and the new HNB business is gradually achieving rapid growth.

SMOORE INTL (06969) rose over 4% at the close, up 3.93% at the time of publication, at HK$9.79, with a turnover of HK$1.88 billion. On the news front, SMOORE INTL had previously announced first quarter results, with revenue of RMB 3.856 billion, a year-on-year increase of 41.7%; adjusted net profit of RMB 347 million, a 10.7% increase year-on-year. Huatai pointed out that the company's performance in Q1 26 in terms of revenue and profit were both outstanding, mainly due to the continued recovery of the aerosol main business and the gradual rapid growth of the HNB new business. The bank stated that looking ahead to 26, changes in global regulatory policies favor compliance leaders, and the company's aerosol main business is expected to continue its trend of continuous recovery; at the same time, the commercialization process of the HNB technology platform is accelerating. While steadily climbing in existing business, the company is expected to gradually build a "multi-customer + multi-product" business matrix, accelerating the construction of the growth curve. We are optimistic about the value of the company's aerosol technology and heated tobacco technology solutions platform and maintain a "buy" rating.