Smoore IPO: First Chinese E-Cigarettes Maker Listed in Hong Kong
On July 10th, SMOORE International Holdings Ltd. listed on the Hong Kong Stock Exchange. Share price of Smoore International Holdings opened at HK$12.40 and closed at HK$31.00, which was more than doubled on the first day it listed.
Smoore is one of the world's largest vaping device makers. Founded in 2006, Smoore provides services such as vaping devices and components. It also owns a vape brand Vaporesso.
Smoore’s customers include Japan Tobacco, Reynolds, NJOY, RELX, American Tobacco, and British American Tobacco, radiating its business all over the world. According to Frost & Sullivan, Smoore’s revenue in 2019 accounts for 16.5% of the whole e-cigarette market share, while Smoore’s market share was 10.1% in 2018.
Smoore will allocates the proceeds to improve production efficiency and research & production, as well as its output of production.
One of Smoore’s core products is the FEELM coil, which provides closed-system vaping coils for multiple e-cigarettes companies. FEELM coil has its signature logo: FEELM Inside, representing high-quality and high-tech coil and liquid.
MOTI’s latest pod system MOTI S LITE also employs FEELM coil. The FEELM Coil is customized exclusively for MOTI S LITE, which enables the liquid to be heated more evenly and produces tiny atomized particles and delicate vapor. 1.2ML capacity can achieve the smallest internal carbon deposit in the process of replacing the entire coil, without affecting the continuous taste. Ceramic honeycomb structure incorporates cutting-edge technologies such as fluid mechanics, and aerodynamics, which is a perfect combination of metal films of special materials with ceramic conductors. In this way, an ultra-wide heating surface is established to ensure to generate abundant and instant vapor and provide dense taste.
Even though the e-cigarettes industry has been through a lot of obstacles and difficulties and the future forward won’t be easy, this news injects great confidence not only to MOTI, but also to the industry.