China Tobacco International (HK) Company Limited (CTIHK, 06055) reported first-half 2026 revenue of HK$7.54 billion, a 26.9% year-on-year decline driven mainly by weaker Tobacco Leaf Products Import and Cigarettes Export performance. Gross profit slipped 9.5% to HK$856.32 million, while profit attributable to shareholders fell 11.2% to HK$627.03 million. Basic and diluted earnings per share decreased to HK$0.91 from HK$1.02.

CTIHK’s board declared an unchanged interim dividend of HK$0.19 per share, payable on or about 25 September 2026 to shareholders on record as of 16 September 2026.

Segment data show contrasting trends. Tobacco Leaf Products Import revenue dropped 40.5% to HK$4.99 billion as import volumes fell 29.1%. Conversely, Tobacco Leaf Products Export revenue surged 52.7% to HK$1.76 billion on a 10.6% volume increase, lifting segment gross profit 60.6% to HK$101.38 million. Cigarettes Export revenue declined 25.3% to HK$412.19 million amid shipment delays, though segment gross profit inched up 4.9% to HK$148.77 million due to product-mix improvements. New Tobacco Products Export revenue softened 32.8% to HK$9.81 million amid regulatory headwinds, while Brazil Operations revenue climbed 81.3% to HK$354.20 million on a 59.9% rise in export tonnage.

CTIHK ended June with cash and short-term deposits of HK$3.82 billion, down 3.9% from a year earlier, and net assets of HK$4.20 billion, up 13.5%. The current ratio improved to 1.97 from 1.52, and the gearing ratio eased to 0.51 from 0.73. Return on equity moderated to 15.5% from 19.4%.

Management will focus on bolstering supply-chain resilience, deepening cooperation with key customers, and pursuing both organic growth and targeted acquisitions in the second half of 2026. Priorities include accelerating direct-supply agreements in the domestic duty-free channel, enhancing new tobacco product offerings, and expanding Brazil operations while maintaining cost control and ESG initiatives.