今日盘中，思摩尔国际（06969）股价大涨5.35%，引发市场关注。截至发稿，该股报13.90港元。
这一涨势很可能与新型烟草市场的积极前景有关。近日，菲莫国际公布了2025年第一季度业绩，其无烟产品（SFP）收入同比增长20.4%，毛利率超过70%，同比提高6.7个百分点。其中，加热不燃烧（HNB）产品出货量增长12%，显示出强劲的市场需求。
作为新型烟草供应链的核心企业，思摩尔国际有望从这一趋势中受益。浙商证券在最新研报中指出，HNB市场潜力巨大，且在监管和竞争格局方面较为有利。特别是，思摩尔作为英美烟草新一代Glo Hilo产品的核心供应商，预计将在2025-2026年随着产品在更多市场的扩展而迎来放量。这些积极因素可能是推动思摩尔国际股价上涨的主要原因。
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