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. Company TPB Q3 Earnings: Nicotine Pouch Sales Surge 628% YoY, First U.S. Production Line Planned
U.S. Company TPB Q3 Earnings: Nicotine Pouch Sales Surge 628% YoY, First U.S. Production Line Planned
Turning Point Brands (NYSE: TPB) released its financial results for the third quarter of 2025, reporting strong revenue and profit growth driven by surging Modern Oral (nicotine pouch) sales. The company announced plans to establish its first U.S.-based white pouch production line in 2026, marking a key step toward manufacturing localization.
Nov.06 by 2FIRSTS.ai
BAT Malaysia Reports Q3 Results: Net Profit Plummets 89.5%, Stock Price Drops 15%
BAT Malaysia Reports Q3 Results: Net Profit Plummets 89.5%, Stock Price Drops 15%
BAT Malaysia's Q3 results show a sharp 89.5% drop in net profit to RM7 million (approximately $150,000 USD), with revenue also falling to RM300 million (approximately $6.4 million USD). The company attributed the decline to new regulatory requirements, including pictorial health warnings and the retail display ban. Its stock dropped 15.25% to RM4.78 (approximately $1.02 USD).
Oct.31 by 2FIRSTS.ai
Global Tobacco Oversupply and Climate Risks Highlighted at ITGA Annual Meeting
Global Tobacco Oversupply and Climate Risks Highlighted at ITGA Annual Meeting
In 2025, global tobacco leaf production surged, but prices stagnated as climate change intensified farming risks. 2Firsts reports from the ITGA meeting, revealing structural challenges and transition pressures in the industry.
Sep.29
China’s E-Cigarette Exports Reached USD 879 Million in September 2025, Down 6.08% MoM— U.S. Remains Top Market, Russia Falls Sharply
China’s E-Cigarette Exports Reached USD 879 Million in September 2025, Down 6.08% MoM— U.S. Remains Top Market, Russia Falls Sharply
In September 2025, China’s total e-cigarette exports reached USD 879 million, representing a 6.08% decline month-on-month but a 3.41% increase year-on-year.
Oct.20 by 2FIRSTS.ai
Kyrgyzstan considers six-month ban on e-cigarette and e-cigarettee-liquid imports
Kyrgyzstan considers six-month ban on e-cigarette and e-cigarettee-liquid imports
According to Kyrgyz media, the Ministry of Economy and Commerce has launched a public discussion on a draft decree proposing a six-month ban on the import of e-cigarettes and nicotine-containing liquids. The measure, based on Article 15-1 of the Law “On Protecting Citizens’ Health from the Consequences of Tobacco and Nicotine Use,” aims to safeguard public health and prevent youth nicotine addiction.
Nov.12 by 2FIRSTS.ai
Russian Khabarovsk Officers Confiscate Illegal Vapes, Tax Evasion at $225,000
Russian Khabarovsk Officers Confiscate Illegal Vapes, Tax Evasion at $225,000
Customs officers in Khabarovsk seized nearly 13,000 illegally imported vapes worth ₽11 million. The undeclared goods evaded about $225,000 in customs duties and lacked safety and labeling certificates. The case is pending court review as Russia considers a nationwide vape sales ban.
Oct.27 by 2FIRSTS.ai