SMOORE INTL (06969) saw its shares drop sharply by 6.62% during the intraday trading session. The decline was significant, reflecting investor concerns over recent policy changes affecting the company's profitability.

The movement follows an announcement from China's Ministry of Finance and the State Taxation Administration, which includes non-combustible nicotine-containing products in the scope of cancelled export tax rebates. This policy, effective from April 1, 2026, removes the previous 13% rebate, forcing companies to bear the full value-added tax cost. Analysts suggest this will directly compress profit margins for SMOORE INTL, which relies on these rebates to maintain competitive pricing internationally.