Smoore International Holdings Limited (stock code: 6969) disclosed the subscription of two tranches of USD Callable Zero Coupon Notes issued by Morgan Stanley Finance LLC. The first tranche, amounting to US$20 million, was subscribed on 28 October 2025, and the second tranche, amounting to US$60 million, was subscribed on 31 October 2025. Both tranches are guaranteed by Morgan Stanley and mature in November 2032, with the issuer holding optional early redemption rights.

According to the announcement, the combined subscription, equivalent to approximately HK$624 million, is funded by existing available cash reserves and aligns with Smoore’s treasury management policy of investing surplus funds in low-risk products. Based on the Listing Rules, the two subscriptions are treated as a single transaction and constitute a discloseable transaction under Chapter 14, requiring reporting and announcement but exempt from shareholder approval requirements. The company stated that the subscription helps diversify its investment portfolio and generate stable returns under acceptable risk levels.