【券商聚焦】浙商证券维持思摩尔国际“买入”评级指其HNB加速渗透、英美大力投入

金吾财讯2025-07-16

金吾财讯 | 浙商证券研报指，近期Glo Hilo在日本仙台的试销反馈较好，该机构认为HNB产品体验提升、转化烟民提速会带动行业加速增长，思摩尔国际绑定英美烟草充分受益，同时雾化&医疗业务向好。此前市场担心思摩尔国际(06969)在单支HNB烟支上获取的利润不会太高，依据是英美烟草报表呈现的HNB烟支单价较低、毛利空间可能有限。该机构认为从两个维度看，思摩尔有望在烟弹环节获得丰厚回报： 1）...

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【券商聚焦】浙商证券维持思摩尔国际“买入”评级 指其HNB加速渗透、英美大力投入

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【券商聚焦】浙商证券维持思摩尔国际“买入”评级指其HNB加速渗透、英美大力投入