Smoore renews key battery procurement deal with EVE Energy

Smoore International Holdings Limited announced the renewal of its continuing connected transaction with EVE Energy, extending their existing procurement framework agreement. The new agreement will be effective from January 1, 2026, and conclude on December 31, 2028. Under this arrangement, Smoore and its subsidiaries will procure battery products from EVE Energy Group, a controlling shareholder of Smoore and a leading battery manufacturer.

The board of directors has approved new annual caps of 580 million yuan for each of the financial years ending December 31, 2026, 2027, and 2028. These caps were determined based on anticipated changes in orders for Smoore's products, influenced by the evolving global atomisation and vaping product markets, and historical transaction amounts. For comparison, the total procurement amount from EVE Energy was 548.6 million yuan for the year ended December 31, 2023, and 293.3 million yuan for the nine months ended September 30, 2025.

The pricing policy for the new agreement will reference prevailing market prices, with Smoore obtaining comparable quotations from independent third-party suppliers to ensure reasonableness. Jiang Min, a non-executive director of Smoore and also a director of EVE Energy, abstained from voting on the board resolutions for this transaction. The transaction is exempt from circular, independent financial advice, and shareholders' approval requirements under Listing Rule 14A.76(2).