周二盘中，思摩尔国际（06969）股价大涨7.02%，引发市场关注。截至发稿时，该股报15.18港元，涨幅略有收窄至6.6%，成交额达3.94亿港元。
此次股价上涨主要得益于新型烟草市场前景看好。国金证券最新研报指出，海外新型烟草渗透率提升趋势依然明显，新型烟草业务仍是各巨头实现长远业绩增长的重要发力点。作为全球电子烟代工市场的头部企业，思摩尔国际与BAT、NJOY等大型烟草公司深度绑定，有望在雾化电子烟合规市场规模显著扩容以及BAT持续加大对HNB（加热不燃烧）投入的背景下显著受益。
值得注意的是，思摩尔国际为英美烟草供应的HNB产品GloHilo已获得积极反馈。第一上海此前报告称，该产品在使用体验和口感方面较现有主流产品有所提升。根据战略规划，GloHilo将于2025年全面进军核心市场，预计从2025年下半年开始为公司带来持续利润增长。分析师预计，到2026年，随着市场渗透率提升和客户群体扩大，思摩尔国际的HNB业务将展现强劲的发展动能与盈利潜力。
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