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On June 18th, 2020, SMOORE, the world’s largest vaping device manufacturer, has finished the hearing in Hong Kong Exchanges and Clearing Limited, by which it will step into the share offer stage.
Global Leader in Offering Vaping Technology Solutions
According to the prospectus, SMOORE’s revenues from 2016 to 2018 were RMB7.07 billion, RMB15.65 billion and RMB34.34 billion, which makes its composition annual rate of growth reach 120.3%; the profit and total comprehensive income for the year increased from RMB1.062 billion in 2016 to RMB7.34 billion in 2018, which makes the composition annual rate of growth reach 162.9%.
According to Frost & Sullivan,SMOORE was the world’s largest vaping device manufacturer in terms of revenue, accounting for 16.5% of the total market share, in 2019. Through the innovative and pioneering vaping technology solutions, SMOORE operates two principal business segments: (i) research, design and manufacturing of closed system vaping devices and vaping components for a number of global leading tobacco companies and independent vaping companies, and (ii) research, design, manufacturing and sale of self-branded open system vaping devices, or APV, for retail clients.
Brilliant Tech Enables Atomization to Make Life Better
SMOORE’s quick development benefited from the innovation-driven strategy. As one of the national new high-tech enterprises, SMOORE worships innovation as the top power and soul for the development. Bringing the innovation of R&D and operations management into company’s mid-and-long term strategy, as well as enhancing the HR innovation and fund investment, continiousely inject new power to SMOORE’s sustainable development.
As of the Latest Practicable Date due to the prospectus, SMOORE had applied over 1,600 patents in China and overseas, of which more than 700 patents had been granted.
In November 2019, SMOORE received the “Laboratory Accreditation Certificate” from the China National Accreditation Service for Conformity Assessment for the safety and quality of its laboratories. The scope of the accreditation encompasses the laboratories’ ability to conduct chemical analysis, physical performance testing, and product quality testing, among others.
In April 2020, SMOORE entered into a material transfer and research agreement with AIM ImmunoTech, Inc. (“AIM”) to research the efficacy of using its inhalation delivery device to administer AIM’s flagship drug, Ampligen, for COVID-19 treatments. SMOORE believes that this easy-to use, self-administered therapeutic treatment has the potential to be an effective treatment approach for COVID-19.
The great ability of innovation and exploration is crucial for SMOORE to build and maintain its world-leading position. Adhering to the mission of “Atomization makes life better”, and the core value of “Science and technology are the core power of development”, SMOORE will work hard on the industry chain deployment of eletronic atomization technology.