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According to the financial report, the total revenue of Smoore International in 2022 was 1.768 billion USD, a year-on-year decrease of 11.7%; After adjustment, the net profit was 0.375 billion USD.A year-on-year decrease of 52.7%. In response, Smoore International explained in its financial report that the main reasons for the decrease in net profit include a decrease in sales revenue from corporate customers.A decrease in gross profit margin. And an increase in sales, management, and research and development expenses.
After several significant changes in the vape industry. It has had a significant impact on vape companies such as Smoore International. Its operating performance has long been tracked down. According to annual financial reports. From 2019 to 2021, Smoore International’s adjusted net purchasing profit grew by 208%, 71.9%, and 39.8% year-on-year, respectively, while in 2022, its net profit ultimately declined by more than 50%.
Obviously, in the era of strong regulation in the vape industry, even vape giants have to experience performance oscillations. Chen Zhiping, Chairman of the Board of Directors of Smoore International, also frankly stated that in 2022, the company was in a rapidly changing and challenging external environment, and the regulatory policies for new vape products in the countries where the main markets are located gradually became clear. However, in the short term, the formulation and implementation of policies requires a process, Have a certain impact on the company’s business.
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