Smoore International Holdings (SEHK:6969) - Share price, News & Analysis

6969 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	3/6
Past Performance	5/6
Financial Health	5/6
Dividends	1/6

6969 Stock Overview

Smoore International Holdings Limited, an investment holding company, engages in the provision of vaping technology solutions.

Rewards

Trading at 60.8% below our estimate of its fair value

Earnings are forecast to grow 12.55% per year

Earnings grew by 120.3% over the past year

Risk Analysis

Highly volatile share price over the past 3 months

High level of non-cash earnings

Smoore International Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Smoore International Holdings
Historical stock prices
Current Share Price	HK$16.80
52 Week High	HK$61.70
52 Week Low	HK$14.22
Beta	0
1 Month Change	5.53%
3 Month Change	-41.26%
1 Year Change	-67.16%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-45.81%

Recent News & Updates

May 02

Smoore International Holdings (HKG:6969) Has Announced That Its Dividend Will Be Reduced To HK$0.18

Smoore International Holdings Limited ( HKG:6969 ) is reducing its dividend to HK$0.18 on the 22nd of June. This means...

Apr 18

Smoore International Holdings (HKG:6969) Will Pay A Smaller Dividend Than Last Year

Smoore International Holdings Limited ( HKG:6969 ) has announced it will be reducing its dividend payable on the 22nd...

Apr 08

The Consensus EPS Estimates For Smoore International Holdings Limited (HKG:6969) Just Fell Dramatically

One thing we could say about the analysts on Smoore International Holdings Limited ( HKG:6969 ) - they aren't...

Shareholder Returns

	6969	HK Tobacco	HK Market
7D	-3.8%	0.8%	-1.0%
1Y	-67.2%	-13.6%	-26.1%

Return vs Industry: 6969 underperformed the Hong Kong Tobacco industry which returned -17.9% over the past year.

Return vs Market: 6969 underperformed the Hong Kong Market which returned -24% over the past year.

Price Volatility

Is 6969's price volatile compared to industry and market?
6969 volatility
6969 Average Weekly Movement	15.8%
Tobacco Industry Average Movement	4.0%
Market Average Movement	8.0%
10% most volatile stocks in HK Market	15.1%
10% least volatile stocks in HK Market	3.9%

Stable Share Price: 6969 is more volatile than 90% of Hong Kong stocks over the past 3 months, typically moving +/- 16% a week.

Volatility Over Time: 6969's weekly volatility (16%) has been stable over the past year, but is still higher than 75% of Hong Kong stocks.

About the Company

Founded	Employees	CEO	Website
2009	16,263	Zhiping Chen	https://www.smooreholdings.com

Smoore International Holdings Limited, an investment holding company, engages in the provision of vaping technology solutions. It researches, designs, and manufactures closed system vaping devices and vaping components for tobacco companies and independent vaping companies. The company also offers open system vaping devices for retail clients under the Vaporesso and FEELM brands.

Smoore International Holdings Fundamentals Summary

How do Smoore International Holdings's earnings and revenue compare to its market cap?
6969 fundamental statistics
Market Cap	CN¥85.37b
Earnings (TTM)	CN¥5.29b
Revenue (TTM)	CN¥13.76b

16.1x

P/E Ratio

6.2x

P/S Ratio

Is 6969 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
6969 income statement (TTM)
Revenue	CN¥13.76b
Cost of Revenue	CN¥6.23b
Gross Profit	CN¥7.52b
Other Expenses	CN¥2.23b
Earnings	CN¥5.29b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.88
Gross Margin	54.68%
Net Profit Margin	38.44%
Debt/Equity Ratio	2.3%

How did 6969 perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

36%

Payout Ratio

Does 6969 pay a reliable dividends?

See 6969 dividend history and benchmarks

When do you need to buy 6969 by to receive an upcoming dividend?
Smoore International Holdings dividend dates
Ex Dividend Date	Jun 01 2022
Dividend Pay Date	Jun 22 2022
Days until Ex dividend	7 days
Days until Dividend pay date	28 days

Does 6969 pay a reliable dividends?

See 6969 dividend history and benchmarks

Valuation

Is Smoore International Holdings undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 6969 (HK$16.8) is trading below our estimate of fair value (HK$42.85)

Significantly Below Fair Value: 6969 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: 6969 is poor value based on its Price-To-Earnings Ratio (16.1x) compared to the Asian Tobacco industry average (13.3x).

PE vs Market: 6969 is poor value based on its Price-To-Earnings Ratio (16.1x) compared to the Hong Kong market (8.8x).

Price to Earnings Growth Ratio

PEG Ratio: 6969 is poor value based on its PEG Ratio (1.3x)

Price to Book Ratio

PB vs Industry: 6969 is overvalued based on its Price-To-Book Ratio (4.4x) compared to the XA Tobacco industry average (1.4x).

Future Growth

How is Smoore International Holdings forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

12.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6969's forecast earnings growth (12.6% per year) is above the savings rate (1.5%).

Earnings vs Market: 6969's earnings (12.6% per year) are forecast to grow slower than the Hong Kong market (16.4% per year).

High Growth Earnings: 6969's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6969's revenue (16.6% per year) is forecast to grow faster than the Hong Kong market (9.9% per year).

High Growth Revenue: 6969's revenue (16.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 6969's Return on Equity is forecast to be high in 3 years time (23.7%)

Past Performance

How has Smoore International Holdings performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

43.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6969 has a high level of non-cash earnings.

Growing Profit Margin: 6969's current net profit margins (38.4%) are higher than last year (24%).

Past Earnings Growth Analysis

Earnings Trend: 6969's earnings have grown significantly by 43.4% per year over the past 5 years.

Accelerating Growth: 6969's earnings growth over the past year (120.3%) exceeds its 5-year average (43.4% per year).

Earnings vs Industry: 6969 earnings growth over the past year (120.3%) exceeded the Tobacco industry 11%.

Return on Equity

High ROE: 6969's Return on Equity (27.5%) is considered high.

Financial Health

How is Smoore International Holdings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 6969's short term assets (CN¥18.0B) exceed its short term liabilities (CN¥3.4B).

Long Term Liabilities: 6969's short term assets (CN¥18.0B) exceed its long term liabilities (CN¥230.7M).

Debt to Equity History and Analysis

Debt Level: 6969 has more cash than its total debt.

Reducing Debt: 6969's debt to equity ratio has increased from 0% to 2.3% over the past 5 years.

Debt Coverage: 6969's debt is well covered by operating cash flow (820.2%).

Interest Coverage: 6969 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is Smoore International Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

2.11%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: 6969's dividend (2.11%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.82%).

High Dividend: 6969's dividend (2.11%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.77%).

Stability and Growth of Payments

Stable Dividend: Too early to tell whether 6969's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if 6969's dividend payments are increasing as they only just started paying a dividend.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (35.9%), 6969's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (112.1%), 6969's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.9yrs

Average management tenure

CEO

Zhiping Chen (45 yo)

2.83yrs

Tenure

Mr. Zhiping Chen serves as Chairman of the Board and Chief Executive Officer at Smoore International Holdings Limited since July 22, 2019. Mr. Chen is principally responsible for the overall management and...

Leadership Team

Experienced Management: 6969's management team is considered experienced (3.9 years average tenure).

Board Members

Experienced Board: 6969's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/24 00:00
End of Day Share Price	2022/05/24 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31