Smoore International Holdings Ltd (6969) Fair Value & Analysis
Consumer Defensive · HK · Market cap HK$46.3B (≈ $5.9B) · ISIN KYG8245V1023
What is Smoore International Holdings Ltd really worth?
A solid business, but trading 135% above our fair value of HK$4.19.
Strengths
Risks
Fair value as of: Aug 19, 2026
From 17 valuation models · updated 16 days ago
Share price +12.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (HK$5.24). The favourable scenario is already priced in.
- Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range HK$4.52 – HK$56.37 · fair‑value band HK$3.15 – HK$5.24 · the HK$9.83 price screens above the HK$4.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Smoore International Holdings Ltd (6969) currently trades at HK$9.83, while our model-based Fair Value estimate is HK$4.19, implying the stock looks roughly 134.6% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of HK$5.78 per share, and 0 of the 17 models we run sit above the HK$9.83 price. Bear case: the Asset-Based group reads lowest at HK$2.36, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.
Revenue grew 16.4% year over year. It earns a return on equity of 144.2%. The balance sheet holds a net cash position of HK$5.2B. The stock trades on a trailing P/E of 37.4 (as of Jul 2, 2026). Fundamentals as of Aug 19, 2026
Our scenario range runs from HK$3.15 (bear case) to HK$5.24 (bull case); at HK$9.83, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 58% below its 52-week high and 42% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 1% fair-value upside, at −57%, 6969 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.0883 per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 17 models by family
Widest divergence: Growth Earnings (HK$5.78) versus Asset-Based (HK$2.36). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 26
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Smoore International Holdings Limited, an investment holding company, engages in the provision of vaping technology solutions. The company is involved in the research, design, and manufacture of vaping, heat-not-burn, atomization, and inhalation therapy products for tobacco companies, independent vaping brands, and other corporate clients.
Full company description
Smoore International Holdings Limited, an investment holding company, engages in the provision of vaping technology solutions. The company is involved in the research, design, and manufacture of vaping, heat-not-burn, atomization, and inhalation therapy products for tobacco companies, independent vaping brands, and other corporate clients. It also engages in the research, design, manufacturing, and sales of self-branded electronic vaping products and beauty atomization products. In addition, the company offers vaping solutions under the FEELM brand; vaping products under the VAPORESSO brand; and HTP atomization solutions under the METEX brand. Further, it is involved in the operation of supply chain services; research and development; and trustee activities. The company operates in Hong Kong, China, the United Kingdom, the United States, Mainland China, France, Japan, Croatia, the United Arab Emirates, and internationally. Smoore International Holdings Limited was founded in 2009 and is headquartered in Shenzhen, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Smoore International Holdings Ltd reported revenue of 14.3B CNY in FY2025 versus 13.8B CNY in FY2021, a compound +0.9%/yr. Reported net income was 1.1B CNY in FY2025, compounding −33.0%/yr from FY2021.
of which total revenue +42.2 % · buybacks/dilution +11.8 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
6969 screens 135% overvalued. Compare with Philip Morris International Inc →
Peer Group
Tobacco · 36 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Tobacco median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Tobacco stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Philip Morris International Inc PM | $190.48 | $103.71 | −46% |
| British American Tobacco p.l.c. BTI | $56.13 | $61.07 | +9% |
| Altria Group MO | $68.65 | $81.81 | +19% |
| ITC Limited 500875 | ₹279.50 | ₹212.74 | −24% |
| KT&G Corporation 033780 | 175,500 KRW | 110,656 KRW | −37% |
| PT Hanjaya Mandala Sampoerna Tbk, HMSP | 745.00 IDR | 1,041 IDR | +40% |
| Godfrey Phillips India Limited GODFRYPHLP | ₹2,160 | ₹1,194 | −45% |
| PT Gudang Garam Tbk, GGRM | 20,675 IDR | 16,988 IDR | −18% |
| TABAK TABAK | 19,100 CZK | 23,215 CZK | +22% |
| China Tobacco International (HK) Company 6055 | HK$23.86 | HK$24.09 | +1% |
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