Smore International (6969) has issued a statement through the Hong Kong Stock Exchange, stating that according to their preliminary understanding of the interpretation of the Chinese electronic cigarette consumption tax announcement by Smore Group, Smore Group is exempt from paying consumption tax when it receives licenses from brand companies for the production and sale of electronic cigarettes or exports them within mainland China. Smore Group is supportive of and advocates for the consumption tax, and will continue to keep track of any updates to relevant policies, regulations, and implementation details (if any), and evaluate their impact on the group in a timely manner.
Simal Group announced that approximately 22% of their revenue in Q3 of 2022 came from mainland China. Regarding the proposed electronic cigarette consumption tax, the group stated its firm support and approval.
The following is a screenshot of the original announcement made by Simore International on the Hong Kong Stock Exchange:
Symon International announced in a screenshot of its original statement on the Hong Kong Stock Exchange.
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