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<Research>CICC Raises SMOORE INTL (06969.HK) TP to $13.5 as HNB New Biz Expected to Enter Harvest Period
SMOORE INTL (06969.HK)'s 3Q24 revenue amounted to RMB3.28 billion, up 14.1%/ 16.5% YoY/ QoQ each, CICC released a research report saying.The Company stepped up its efforts to d...
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<Research>CICC Raises SMOORE INTL (06969.HK) TP to $13.5 as HNB New Biz Expected to Enter Harvest Period
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SMOORE INTL (06969.HK)  0.000 (0.000%)    Short selling $9.48M; Ratio 4.126%   's 3Q24 revenue amounted to RMB3.28 billion, up 14.1%/ 16.5% YoY/ QoQ each, CICC released a research report saying.

The Company stepped up its efforts to develop new businesses such as Heat not burn (HNB) and atomized medicine, and increased its investment in R&D and management expenses in 3Q24. Coupled with the effect of income tax withholding, net profit for the period amounted to RMB380 million, down 22.5% YoY and up 10.2% QoQ.

With the gradual commercialization of beauty atomization, HNB and atomized medicine, the R&D investment is expected to enter the harvest stage, according to the broker. Therefore, CICC kept rating for the Group at Outperform, and raised its target price by 17% to $13.5.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-10-18 16:25.)

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