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　　思摩尔国际（06969）盘中涨超4%，截至发稿，股价上涨3.11%，现报13.94港元，成交额5314.81万港元。

　　第一上海指出，思摩尔国际为英美烟草供应的加热不燃烧（HNB）产品Glo Hilo试销反馈积极，其使用体验和口感较现有主流产品有所提升。根据战略规划，该产品将于2025年全面进军核心市场，并有望从2025年下半年开始为公司带来持续利润增长。预计到2026年，随着市场渗透率提升和客户群体扩容，HNB业务将展现强劲的发展动能与盈利潜力。

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