Smoore's Overseas Market Surges Nearly 30%, with Large-Scale Disposable Shipments to Europe!

Recently, I came across some astonishing news: Smoore's gross profit for the first half of the year reached 1.8 billion, especially with large-scale disposable shipments to Europe and other regions!

According to Smoore's second-quarter financial report, the company's revenue for the first half of 2023 was 5.123 billion yuan, with an adjusted net profit of 758 million yuan. The gross profit for the first half of 2023 was 1.8553 billion yuan. Revenue from overseas markets was 5.061 billion yuan, a year-on-year increase of 28%.

This indicates that out of the total revenue of 5.1 billion, 5.06 billion came from overseas, marking a significant year-on-year increase of 28%.

More notably, the revenue from enterprise customer business (ODM) was 4.474 billion yuan, accounting for 87.3% of total revenue, with overseas market revenue rising by 30% year-on-year.

(Half-year performance)

The surge in disposables is primarily due to technology. Thanks to high technical barriers, the group successfully launched the ceramic core disposable atomization solution FEELM Max, achieving a “30% increase in puff count” for disposable products. This also allows for a true “disposable, no charging” experience.

Even more noteworthy is the significant growth in brand retail, with revenue exceeding 600 million in half a year. Data shows that Smoore's retail customer (APV) business achieved further growth, benefiting from product upgrades and channel penetration, with revenue reaching 649 million yuan in the first half of 2023, a year-on-year increase of 15.8%. Their newly launched VAPORESSO COSS and VAPORESSO ECO NANO feature automatic refilling, automatic charging, and extended battery life.

Meanwhile, their disposable e-cigarettes generated 1.5 billion in revenue in the first half, with personal brand products growing by 15%.

(Disposables are booming)

Additionally, their performance indicates that the U.S. market is also expanding. In the first half of this year, they made further breakthroughs in the U.S. market, with revenue accounting for 40.2%, a year-on-year increase of 27.7%.

(The European and American markets are booming)

Moreover, revenue in Europe and other markets increased by 32% year-on-year. Especially, disposable products quickly achieved large-scale shipments, with year-on-year revenue growth reaching 369%.

(Incredible growth in the European market)