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

Product | Three Power Levels + “2+10” Setup: ELFBAR JoinOne Series Launches in UK Retail
Product | Three Power Levels + “2+10” Setup: ELFBAR JoinOne Series Launches in UK Retail
ELFBAR rolls out the JoinOne15 Classic prefilled replaceable-pod kit, now listed across multiple UK e-commerce channels (some pages marked “coming soon”). The device uses a “2 ml prefilled pod + 10 ml refill container (‘2+10’)” system, supports three power levels, and claims up to 15,000 puffs in combined use. The kit is priced at £12.99, with matching “2+10” refill pods at £7.99.
Nov.03 by 2FIRSTS.ai
Belarus to Tighten Vape Regulations, Raise Excise Taxes in 2026
Belarus to Tighten Vape Regulations, Raise Excise Taxes in 2026
Belarusian lawmakers are drafting a new bill to regulate the vape market amid growing concern over youth nicotine use and the spread of illegal products. While a total ban is not planned, the focus will be on stricter licensing, advertising limits, and higher taxes.
Nov.19 by 2FIRSTS.ai
Imperial Brands Launches £1.45B Buyback Plan as New Product Revenue Jumps 12-14%
Imperial Brands Launches £1.45B Buyback Plan as New Product Revenue Jumps 12-14%
Imperial Brands: FY results in line; launches £1.45bn buyback (to Oct 2026). Constant-currency net revenue to grow low single digits; NGP +12%–14%; adjusted operating profit growth similar to last year’s 4.6%.
Oct.07 by 2FIRSTS.ai
2Firsts Co-Founder and CEO Alan Zhao Speaks at PouchEX 2025: Highlighting China’s Critical Role in the Global Nicotine Pouch Industry
2Firsts Co-Founder and CEO Alan Zhao Speaks at PouchEX 2025: Highlighting China’s Critical Role in the Global Nicotine Pouch Industry
At PouchEX 2025 in Sweden, 2Firsts CEO Alan Zhao delivered an invited keynote, outlining China’s critical role in the global nicotine pouch industry from both supply chain and consumer insight perspectives, drawing significant attention from the international community.
Nov.17
Russia’s State Duma May Soon Consider Full Ban on Vape Sales
Russia’s State Duma May Soon Consider Full Ban on Vape Sales
Russia’s State Duma will soon consider a proposal to impose a complete ban on the sale of vapes. The move follows President Vladimir Putin’s endorsement of a nationwide prohibition. Lawmaker Aleksey Volotskov said vape use has surged by 52% since early 2025, with illegal products now dominating 80% of the market.
Nov.11 by 2FIRSTS.ai
U.S FDA Announces Dec. 8 Deadline for IQOS MRTP Renewal Comments
U.S FDA Announces Dec. 8 Deadline for IQOS MRTP Renewal Comments
The U.S. FDA has set December 8, 2025, 11:59 p.m. ET as the closing date for public comments on the MRTP renewal applications submitted by Philip Morris Products S.A. for several IQOS heated tobacco products.
Nov.07 by 2FIRSTS.ai