Smore International's H1 2022 net profit drops 52%

Aug.25.2022

China's Smoore International Holdings reports a 52% net profit decline in H1 2022 due to the impact of COVID-19.

According to a report by the Dow Jones newswire, semiconductor manufacturer, SMIC International Holding Limited, experienced a 52.0% decline in net profits after adjustments for the first half of 2022 due to the ongoing and recurring impact of the COVID-19 pandemic.

E-cigarette technology solutions provider Smoore reported in a filing to the Hong Kong Stock Exchange on Wednesday that its adjusted net profit for the first half of the year (January to June) dropped from RMB 2.98 billion ($428.27 million) in the same period last year to RMB 1.44 billion ($209.92 million). Revenue for the first half of the year also fell from RMB 6.955 billion ($1 billion) to RMB 5.65 billion ($817.03 million) compared to a year ago.

It states that in the future, Smoore will continue to focus on the field of atomization with "atomization technology" as the core, establish a world-leading atomization technology platform, innovate products and incubate business, and cultivate partnerships within the industry.

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