Smore International mid-year performance conference

On August 25th, semiconductor company SMIC International (06969.HK) held its mid-year performance conference for 2022. SMIC International's Chairman of the Board, Chen Zhiping, gave a speech discussing how the company is dealing with a constantly changing and challenging external environment, and how they are implementing the "three persistences" in their operations.

Chen Zhiping stated that in the first half of 2022, the changing environment presented a series of challenges to the company's operations and resulted in temporary fluctuations in performance. However, we remain confident in the bright future of the atomization business, and our overall operations remain healthy.

Chen Zhiping stated that from a policy perspective, the regulatory landscape of the global electronic vapor industry gradually became clear in the first half of the year. In China, the introduction of the "Regulations on Electronic Cigarette Management" and the national standard for electronic cigarettes further defined the regulatory framework and details. During the process of applying for a "Tobacco Monopoly Production Enterprise License," we truly felt the concern and guidance from national and local regulatory departments for the industry and enterprises. As a member of the industry, we are very grateful. We firmly support regulation and will actively comply with laws and regulations.

Chen Zhiping stated that on the road to building a globally leading aerosol technology platform, it is impossible for Simoer to have a smooth-sailing journey. Simoer has "three perseverances": perseverance in believing in the bright future of the aerosol industry, perseverance in invention and innovation, and perseverance in long-termism.

After the performance meeting, Smoore Technology released an official statement on its WeChat account "Smoore Technology" regarding the production of products that meet national standards. The announcement stated that from now on, Smoore and all of its subsidiaries will only accept commissioned orders for products that have passed national technical evaluations and all transactions will be conducted through the National Unified E-cigarette Trading Management Platform for the domestic market.

In a statement, it was announced that since the implementation of the "Regulations on the Management of Electronic Cigarettes," Smoore has placed a high level of importance on it and actively cooperated. Up to now, three wholly-owned subsidiaries have obtained the "License for Electronic Cigarette Production Enterprises.

In an announcement, the industry is said to have entered a new phase of regulated development, and Smoore is willing to cooperate with partners to strictly enforce regulatory requirements, operate in compliance with the law, and firmly refrain from selling e-cigarettes online or to minors. Together, they aim to promote the industry's long-term and healthy development.

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