思摩尔国际今日盘中股价大跌5.04%，引起了市场关注。
消息面上，公司于近期公布了2025年度业绩报告。报告显示，尽管公司全年收益达到142.56亿元人民币，同比增长约20.8%，但年内溢利约为10.62亿元，同比下降约18.5%。利润下滑的主要原因是收入和毛利的增长不足以抵销开支的增长，具体归因于：以股份为基础的付款开支大幅增加、法律及合规服务相关费用显著上升，以及公司加大了对自有品牌产品的市场开发力度。
此外，公司的毛利率从上年同期的37.4%下降至34.1%。尽管ToB业务及HNB第二增长曲线表现良好，并宣布派发末期股息每股20港仙，但利润端的显著收缩引发了投资者对公司盈利能力的担忧，这可能是导致股价盘中承压下跌的主要原因。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.