Smoore International’s revenue increased by 18.5% in the first half of 2020
3.881 billion yuan revenue to break the new record in vape industry
On 26th August, Smoore International (06969.HK) announced the results for the first half of the year ended June 30.
In the first half of the year, Smoore International achieved revenue of RMB 3.881 billion, an increase of 18.5% year-on-year; the group’s gross profit margin increased from approximately 41.5% in the same period last year to approximately 49.0%. The group’s profit and total comprehensive income for the period fell from approximately RMB 920 million in the same period last year to approximately RMB 766 million.
According to the company, the adjusted net profit was approximately RMB 1.38 billion, a year-on-year increase of approximately 40.4%, mainly due to losses from changes in the fair value of financial instruments during the review period.
Due to the impact of the COVID 19 epidemic, the group realized revenue of approximately RMB 1.275 billion in the first quarter of 2020, a decrease of approximately 8.8% from the same period last year.
In the second quarter of 2020, the Group’s production and operations basically returned to normal, achieving revenue of approximately RMB 2.605 billion, an increase of approximately 38.9% over the same period last year.
Under the influence of the epidemic, the performance of companies in many industries fell precipitously. While Smoore International has not fallen continuously, but has grown substantially.
Especially in the second quarter, an increase of about 38.9% over the same period last year, an amazing increase!
The e-cigarettes produced by Smoore International are mainly exported to Europe and the United States. This performance increase on the one hand shows the company’s strength and position in the industry, and also shows the strong demand for e-cigarettes in global market.
