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

Special Report|South Korean Lawmaker Queries China Tobacco Regulator Over Synthetic Nicotine as Export-Rule Gaps Emerge
Special Report|South Korean Lawmaker Queries China Tobacco Regulator Over Synthetic Nicotine as Export-Rule Gaps Emerge
A South Korean lawmaker has asked China’s tobacco regulator to clarify rules for e-cigarettes containing synthetic nicotine amid questions over product declarations and possible tax losses. The dispute exposes gaps between Chinese export requirements and destination-market rules, while underscoring the global impact of China’s licensing and traceability policies.
Jul.10
Tasmania Reports Annual Enforcement Results: 5.5 Million Illegal Cigarettes and Nearly 30,000 Vapes Seized, With IGET Products Visible in Official Images
Tasmania Reports Annual Enforcement Results: 5.5 Million Illegal Cigarettes and Nearly 30,000 Vapes Seized, With IGET Products Visible in Official Images
Tasmania reported its 2025/26 illicit tobacco enforcement results on July 14, with authorities seizing about 5.5 million illegal cigarettes, more than 2,500 kilograms of loose tobacco and nearly 30,000 vapes.
Jul.15
Reuters: Shopify May Ban All Vape Sales This Week Amid Illegal Market Crackdown
Reuters: Shopify May Ban All Vape Sales This Week Amid Illegal Market Crackdown
Reuters reported that Shopify may ban all vape products from its platform as soon as this week, signaling that U.S. enforcement against the illegal vape market is expanding from retailers and importers to e-commerce platforms and payment networks.
MarketBAT
Jun.23 by 2Firsts Perspectives
Spain Plans to Extend Smoking Ban to Terraces and Beaches, Bringing Vapes Under New Restrictions
Spain Plans to Extend Smoking Ban to Terraces and Beaches, Bringing Vapes Under New Restrictions
Spain is advancing a new tobacco-control reform that would expand smoking restrictions to additional public spaces, including restaurant terraces and beaches, while bringing vaping and other nicotine products into the same regulatory framework. The proposed measures aim to reduce secondhand smoke exposure, protect young people and expand smoke-free environments. The proposal remains under legislative development, and final implementation details have not yet been confirmed.
Jul.23
Australia’s Daily Smoking Rate Falls to Record Low of 5.8% as Nicotine Use Patterns Shift
Australia’s Daily Smoking Rate Falls to Record Low of 5.8% as Nicotine Use Patterns Shift
According to the Australian Institute of Health and Welfare’s National Drug Strategy Household Survey, daily smoking among Australians aged 18 and over fell to a record low of 5.8% in 2025. Health Minister Mark Butler said Australia now has around 500,000 fewer daily smokers than three years ago and credited the government’s vaping reforms as part of broader progress. Among people aged 14 and over, daily smoking declined from 8.3% in 2022-23 to 5.6% in 2025. Daily vaping rates stabilised at 3.6%, while the government also moved to further restrict access to nicotine pouches through unapproved therapeutic import pathways.
Jul.21
Alaska Warns 1,500 Tobacco Retailers Over Unauthorized Vapes and Nicotine Pouches
Alaska Warns 1,500 Tobacco Retailers Over Unauthorized Vapes and Nicotine Pouches
Alaska Attorney General Stephen J. Cox has sent notices to more than 1,500 tobacco retailers and distributors warning them against selling vape and nicotine pouch products that lack authorization from the U.S. Food and Drug Administration (FDA). According to the Alaska Department of Law, businesses were advised to verify products against FDA authorization databases and avoid selling unauthorized nicotine products. The action highlights how state-level enforcement is increasingly extending federal product authorization requirements to retail channels.
Jul.24