E-Cig Firms See Mixed Fortunes in 2024 Shenzhen Top 500 Rankings

Business by 2FIRSTS
Sep.27.2024
E-Cig Firms See Mixed Fortunes in 2024 Shenzhen Top 500 Rankings
Shenzhen Enterprise Federation releases "2024 Shenzhen Top 500 Enterprises" list, with notable e-cigarette companies experiencing ranking changes.

On September 27, the Shenzhen Enterprise Federation and the Shenzhen Entrepreneurs Association (referred to as Shenzhen Enterprise Federation) officially released the "2024 Shenzhen Top 500 Enterprises List" and the "2024 Shenzhen Top 500 Enterprises Development Report." China Ping An Insurance (Group) Co., Ltd., Huawei Investment & Holding Co., Ltd., and Tencent Holdings Ltd. ranked the top three in the "2024 Shenzhen Top 500 Enterprises List.

 

According to statistics from 2Firsts, a total of 13 e-cigarette companies have made it into the 2023 Shenzhen Top 500 Enterprises list.

 

E-Cig Firms See Mixed Fortunes in 2024 Shenzhen Top 500 Rankings
Source of information: Shenzhen Enterprise Federation | Compiled by 2Firsts

 

2Firsts has compiled the ranking changes of e-cigarette companies that made the top 500 list in Shenzhen in 2024 compared to the previous year.

 

Through sorting and comparison, 2Firsts found that among the 13 e-cigarette companies in Shenzhen that made it to the 2024 Top 500 list, 3 companies saw their rankings rise. Among them, Shenzhen FirstUnion Technology Co., Ltd. saw the largest increase, climbing 62 spots to reach 247th place.

 

Additionally, there are 9 other companies whose rankings have decreased.

 

RLX Technology Co., Ltd. in Shenzhen dropped 89 spots to rank 351st (largest decrease); 

Shenzhen Aspire Technology Co., Ltd. dropped 47 spots to rank 448th; 

Shenzhen Jinjia Group Co., Ltd. dropped 44 spots to rank 222nd; 

Shenzhen Zinwi Bio Technology Co., Ltd. dropped 35 spots to rank 488th; Shenzhen Geekvape Technology Co., Ltd. dropped 34 spots to rank 370th; 

China Boton Group Co., Ltd. dropped 17 spots to rank 311th; 

Shenzhen Microwell Technology Co., Ltd. dropped 7 spots to rank 123rd; 

Shenzhen VOOPOO Technology Co., Ltd. dropped 6 spots to rank 304th; 

Shenzhen ALD Technology Co., Ltd. dropped 4 spots to rank 348th. 

 

A comparison between the two years revealed that there was one company that made the 2024 list but did not make the 2023 list.

 

Shenzhen-based HQD Technology Co., Ltd. 

 

However, two e-cigarette companies made the list in 2023 but were not included in 2024. They are:

 

Shenzhen Innokin Technology Co., Ltd. and Shenzhen Itsuwa Co., Ltd. in Shenzhen City.

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

U.S. Virginia’s “Operation Magic Dragon” Targets 172 Vape Shops
U.S. Virginia’s “Operation Magic Dragon” Targets 172 Vape Shops
Virginia State Police (VSP) launched “Operation Magic Dragon,” identifying 172 businesses allegedly selling marijuana and related products via vape shops. The multi-month probe uncovered cocaine, methamphetamine, psilocybin and illegal firearms. Western VA seizures included 128.9 kg marijuana and 4.3 kg THC vapes; two Roanoke County raids hit a retail site and a freight distributor. Governor Glenn Youngkin vowed decisive enforcement.
Oct.31 by 2FIRSTS.ai
2Firsts Observation | U.S. E-cigarette Regulation Enters Normalized Phase as Federal and State Authorities Tighten Compliance Frameworks
2Firsts Observation | U.S. E-cigarette Regulation Enters Normalized Phase as Federal and State Authorities Tighten Compliance Frameworks
In just two months, U.S. authorities seized over 7 million illegal e-cigarettes. 2Firsts’ analysis reveals a shift toward institutionalized regulation, with federal and state agencies intensifying enforcement — signaling a major reset in the world’s largest and most influential vaping market.
Oct.28
2Firsts On-Site at InterTabac: Industry Suppliers Confident About Outlook Despite Stagnant Cigarette Volumes
2Firsts On-Site at InterTabac: Industry Suppliers Confident About Outlook Despite Stagnant Cigarette Volumes
At InterTabac 2025, 2Firsts spoke with traditional tobacco suppliers. Despite stagnant cigarette sales in many regions, they remained optimistic, believing that adapting to market shifts could help them grow in a shrinking sector. Many companies are now moving into emerging categories like nicotine pouches, roll-your-own, and heat-not-burn products, using innovation and infrastructure upgrades to meet changing consumer and regulatory demands.
Sep.22
The Mumbai Criminal Investigation Department in India seized about $40,000 worth of smuggled e-cigarettes and arrested one suspect
The Mumbai Criminal Investigation Department in India seized about $40,000 worth of smuggled e-cigarettes and arrested one suspect
The Mumbai Criminal Investigation Department (CID) in India seized a batch of smuggled e-cigarettes worth approximately 3.2 million rupees (approximately $40,000) and arrested a suspect, Ravindra Kishore Dedia. The suspect is currently being questioned, and police are tracking down other members of the smuggling network.
Sep.29 by 2FIRSTS.ai
 Australia NSW Police Crack Down on Illicit Tobacco Syndicate Under Strike Force Franklin
Australia NSW Police Crack Down on Illicit Tobacco Syndicate Under Strike Force Franklin
NSW Police, together with NSW Health and the Australian Border Force, seized more than 18,000 vapes, 1.9 million cigarettes, 74kg of loose-leaf tobacco and five unregistered firearms during a week of action under Strike Force Franklin. Four people were charged following coordinated raids on the Far North Coast. Police said the operation targeted organised crime networks profiting from illicit tobacco sales, with an estimated street value exceeding $2.35 million(1.54 million US dollars)..
Nov.03 by 2FIRSTS.ai
Yekaterinburg shuts down illegal e-cigarette oil factory; Russia plans to ban e-cigarette sales
Yekaterinburg shuts down illegal e-cigarette oil factory; Russia plans to ban e-cigarette sales
An illegal e-cigarette oil factory was shut down in Yekaterinburg, Russia. The illegal e-cigarette oil was produced under unsanitary conditions, with falsified addresses and production dates on product labels. Some of the employees were hearing-impaired. The Russian government plans a complete ban on e-cigarette sales, which has received support from the president.
Sep.30 by 2FIRSTS.ai