2023 Shenzhen Enterprise 500 List: E-cigarette Industry Analysis

Industry Insight by 2FIRSTS.ai
2023 Shenzhen Enterprise 500 List: E-cigarette Industry Analysis
Shenzhen Enterprise Federation and Entrepreneurs Association release the "2023 Shenzhen Top 500 Enterprises" list, revealing e-cigarette companies' performance.

On September 25th, the Shenzhen Enterprise Federation and the Shenzhen Entrepreneur Association (referred to as Shenzhen Enterprise Federation) officially released the "2023 Shenzhen Enterprise Top 500 List" and the "2023 Shenzhen Top 500 Enterprise Development Report". After sorting and comparing, 2FIRSTS discovered that among the 14 e-cigarette companies that made it to the 2023 Shenzhen Enterprise Top 500 List, 9 companies saw their rankings rise, 3 companies saw their rankings fall, while 2 companies were promoted.


Recently, the list of the top 500 companies in Shenzhen in 2023 was released. The ranking was based on the annual business revenue of the companies in 2022. Surprisingly, among the 14 e-cigarette companies that made the list, the previously listed company, Meishenwei, failed to make the cut this time, according to 2FIRSTS.


As of May 1st last year, Alibaba International banned the sale of e-cigarettes and related products such as accessories, vaporizers, and nicotine for e-cigarettes. However, only a year and a half later, why has Alibaba decided to readjust its rules for e-cigarette sales?


Superdrug, a retailer, has officially announced that it will cease selling disposable e-cigarettes in all of its stores across the United Kingdom and Ireland.


The global cigarette market is expected to decline by one third before 2027, driven by the strengthening of anti-smoking health regulations and the significant increase in reduced-risk products (RRPs) globally. However, the market is projected to grow in the Asia-Pacific and Latin American regions.


The rise and fall of JUUL, a prominent e-cigarette company, will be documented in the Netflix documentary "The Big Vape". This film chronicles the journey of two college students who created JUUL as a healthier alternative to traditional tobacco products.


The Guardian conducted a test on seven products available on Amazon, all of which claimed to be nicotine-free on their respective seller pages. However, only one of these products actually turned out to be genuinely free of nicotine.


The e-cigarette industry in Malaysia may face catastrophic consequences due to the Public Health Tobacco Control Act 2023, which holds significant economic contributions to the country. The implementation of the act will hinder the efforts of local entrepreneurs and have negative impacts on tax revenues and manpower resources. Industry professionals are urging for the establishment of appropriate regulations rather than a complete ban.


According to Zheng Mingwei, the equity partner and director of the General Corporate Affairs Committee at Beijing Zhongyin (Shenzhen) Law Firm, he believes that the email sent by Reynolds Tobacco may constitute exaggerated and misleading conduct, potentially amounting to unfair competition.


Recently, the State Tobacco Monopoly Bureau and the Ministry of Finance jointly released the "Regulations on the Management of Confiscated Tobacco Products," which will come into effect on December 1, 2023.


From January to August 2023, the total value of Chinese e-cigarette exports amounted to USD 7,285,324,738, which is approximately USD 7.285 billion or CNY 532.72 billion at the current exchange rate. Since February 2023, the average unit price of e-cigarette exports has been consistently declining from its peak of USD 57.53 per kilogram to USD 44.38 per kilogram in August, marking a drop of 22.85%.


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