Increasing regulatory scrutiny on vaping products and potential bans in certain markets
Long-term health concerns associated with vaping that could lead to declining consumer demand
Intense competition from both established tobacco companies entering the vaping market and new entrants
Rapid technological advancements by competitors that could outpace Smoore's product development
Low liquidity risk due to a current ratio of 2.57, but reliance on continued cash flow generation is critical given recent negative free cash flow
Potential risks associated with foreign exchange fluctuations, especially in markets outside of China
StructuralCompetitiveBalance Sheet