Changes in Hong Kong stocks | SMORE International (06969) rose more than 3% Glo Hilo will launch a pilot heating non-combustible product in Japan with ideal market feedback

The Zhitong Finance App learned that Smore International (06969) rose more than 3%. As of press release, it had risen 3.25% to HK$17.18, with a turnover of HK$121 million.

Cathay Pacific Haitong released a research report stating that according to the official website of British American Tobacco, Glo Hilo products have recently been launched in Japan. In December 2016, the first generation of British American Tobacco Glo was released in Sendai, the capital of Miyagi Prefecture. According to products previously released in Serbia, Glo Hilo has significantly upgraded dimensions such as heating performance and product portability, and the corresponding suction experience has also been greatly optimized, and future product performance may continue to be iteratively improved. The company cooperated with its core customer British American Tobacco to develop a new generation of heated non-combustible products, Glo Hilo pilot market feedback was ideal.

According to Dongwu Securities, the sales volume for heating is 20.9 billion units in 2024, or -0.3% of the organic ratio. Glo Hilo will be listed in Japan in June '25 to expand the European market. It is expected to be listed in the US in 2026. The new products will help HNB grow rapidly. The bank believes that British and American tobacco will drive the smoke-free transition, and new HNB products will become an important support. It is estimated that smoke-free products (including traditional tobacco) will account for more than 20% /50% of revenue in 2026/2035.