Shares of SMOORE INTL (06969) fell more than 4% during afternoon trading. At the time of writing, the stock was down 3.77% to HK$7.65, with a turnover of HK$29.16 million.

This decline follows an announcement from Eve Energy Co.,Ltd. after the market close on July 3. The company stated that its wholly-owned subsidiary, EBIL, plans to sell up to 3.5% of its stake in SMOORE INTL over the next 12 months. Based on the closing price that day, this potential sale could raise approximately HK$1.7 billion.

The company indicated that the proceeds from the share sale will be used to fund the construction of its research and development platform and capacity investments, focusing on its core lithium battery business.

It is noteworthy that this marks the fifth consecutive year Eve Energy has announced an intention to reduce its holding in SMOORE INTL, though the previous three announced plans were not executed. According to the latest disclosed data from July 2026, Eve Energy holds a 30.25% stake in SMOORE INTL, equivalent to approximately 1.874 billion shares, through EBIL. If the full 3.5% divestment plan is completed, its shareholding would decrease to 26.75%, but it would remain the second-largest shareholder of SMOORE INTL.