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

Nicotine Becomes Second-Largest Revenue Source for Couche-Tard in Fiscal 2025
Nicotine Becomes Second-Largest Revenue Source for Couche-Tard in Fiscal 2025
Alimentation Couche-Tard reported that nicotine products accounted for 9% of total revenue in fiscal 2025, making it the company’s second-largest revenue source after fuel, according to its latest Business Strategy Update.
Market
Feb.19
Philip Morris Japan Launches New TEREA “Stellar Pearl,” Featuring Mint and Yellow Citrus Notes
Philip Morris Japan Launches New TEREA “Stellar Pearl,” Featuring Mint and Yellow Citrus Notes
Philip Morris Japan announced the launch of a new TEREA heated tobacco stick for the IQOS ILUMA series, “TEREA Stellar Pearl,” featuring a crushable capsule mint profile. The product will go on sale in Japan through offline retail channels from Jan. 19 and will be rolled out on the company’s official e-commerce store from Jan. 29, priced at 580 yen (about $3.6) per pack.
Jan.14 by 2FIRSTS.ai
Exclusive|Suspected China Tobacco Nicotine Oral Film Product Surfaces on Social Media
Exclusive|Suspected China Tobacco Nicotine Oral Film Product Surfaces on Social Media
China Tobacco Jiangsu IC appears to have developed a nicotine oral film product under the "Nanjing" brand, according to images circulating on Chinese social media. If confirmed, this could potentially mark China Tobacco's first oral nicotine product targeting the domestic market. The product's authenticity has not been officially verified, and no nicotine pouch products have been approved for sale in China.
Special Report
Feb.09
TGA Sets 2026–2027 Compliance Principles, Flags Vaping Goods as a 2026 Priority
TGA Sets 2026–2027 Compliance Principles, Flags Vaping Goods as a 2026 Priority
The Therapeutic Goods Administration (TGA) has released its Compliance Principles for 2026 and 2027.Among 12 therapeutic goods categories identified for priority compliance and enforcement activity, TGA includes vaping goods, and it plans a further review of these priorities in March 2026.
Jan.23 by 2FIRSTS.ai
Product | “Prefilled + Refill” Combo, Up to 30,000 Puffs Claimed: DOJO BLAST 30K PRO Launches in the UK and France
Product | “Prefilled + Refill” Combo, Up to 30,000 Puffs Claimed: DOJO BLAST 30K PRO Launches in the UK and France
DOJO has launched the upgraded BLAST 30K PRO on its official website. The device features a (2+8) ml ×2 “2 ml prefilled pod + 8 ml refill” configuration, delivering 20 ml of e-liquid per kit and claiming up to 30,000 puffs. It is also labeled as fully compatible with BLAST 10K Pods.
Jan.12 by 2FIRSTS.ai
Vietnam Decree 371: vaping and heated tobacco use fined up to $190
Vietnam Decree 371: vaping and heated tobacco use fined up to $190
Vietnam’s Government Decree 371, effective December 31, 2025, stipulates that users of e-cigarettes and heated tobacco products will be fined VND 3–5 million (about $114–$190) and required to destroy the products. The decree also provides that individuals who allow use at premises they own or manage will be fined VND 5–10 million (about $190–$380), with fines doubled for organizations.
Jan.04 by 2FIRSTS.ai