Shares of Smoore International Holdings Ltd, a leading vaping technology company, plunged 15.55% on October 8, 2024, after the company reported a decline in quarterly profits despite higher revenue.
In its latest financial results, Smoore International posted a profit after tax of RMB 378.9 million for the quarter, marking a notable drop compared to the RMB 488.7 million recorded in the same period last year. However, the company's revenue increased to RMB 3,286.1 million, up from RMB 2,879.3 million a year earlier.
The decline in profitability, despite the revenue growth, has raised concerns among investors regarding the company's ability to maintain its profit margins in the face of increasing competition and potential regulatory challenges in the vaping industry.
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