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

Thai police arrest 23-year-old woman linked to major vape-smuggling network in the South
Thai police arrest 23-year-old woman linked to major vape-smuggling network in the South
Thai police said officers expanded an investigation into a major e-cigarette smuggling network in the South and arrested a 23-year-old woman at Hat Yai Junction railway station on Jan. 6, 2026.
Jan.08 by 2FIRSTS.ai
New Zealand Survey Finds Adult Daily Vaping Prevalence at 11.7%, Concentrated Among Youth and Disadvantaged Groups)
New Zealand Survey Finds Adult Daily Vaping Prevalence at 11.7%, Concentrated Among Youth and Disadvantaged Groups)
A survey report released by the Public Health Communication Centre Aotearoa shows that despite New Zealand implementing stricter vaping regulations in 2025, including a ban on disposable products and tighter flavour restrictions, daily vaping rates continue to rise. The research body urges close monitoring of behavioural changes following the new rules coming into force.
Dec.05 by 2FIRSTS.ai
Product | ELFBAR Launches New Open-System Device in UK with Three Pod Options and 2800mAh Battery
Product | ELFBAR Launches New Open-System Device in UK with Three Pod Options and 2800mAh Battery
ELFBAR has launched its new open-system device ELFX MEGA, compatible with 2 mL, 5 mL and 10 mL pods and equipped with a 2800mAh battery that delivers significantly longer runtime than its predecessor. The device has passed MHRA notification in the UK and is now available online in the UK at a retail price of around £18.99.
Nov.25 by 2FIRSTS.ai
NielsenIQ Data Shows UK Tobacco Market Decline of 12.7% with E-Cigarettes Dropping GBP 225 Million
NielsenIQ Data Shows UK Tobacco Market Decline of 12.7% with E-Cigarettes Dropping GBP 225 Million
According to NielsenIQ data published on December 7, 2025, overall tobacco and nicotine product sales in the UK dropped 12.7% in the 12 months ending September 6, representing more than £1 billion in lost sales.
Dec.15 by 2FIRSTS.ai
China Announces Crackdown on Illegal Nicotine Pouch Manufacturing Involving Counterfeit VELO, ZYN, and PABLO Products
China Announces Crackdown on Illegal Nicotine Pouch Manufacturing Involving Counterfeit VELO, ZYN, and PABLO Products
The case is valued at approximately 400,000 yuan, and two suspects have been taken into custody.Video footage released by authorities shows that the counterfeit products involved well-known market brands such as VELO, ZYN, and PABLO.
Dec.01
Nepal: 80 cartons of e-cigarettes seized, valued at US$150,000
Nepal: 80 cartons of e-cigarettes seized, valued at US$150,000
In Nepal’s Mustang district, authorities seized 80 cartons of e-cigarettes valued at NPR 22,459,320 (approximately US$150,000) in Lomanthang Rural Municipality-4, Nechung, and detained a 32-year-old man, Pema Lama. The account says the e-cigarettes were allegedly brought illegally from China three to four days earlier and loaded near the Korala Nepal–China border point before being intercepted.
Jan.13 by 2FIRSTS.ai