IQOS Supplier IntreTech Saw Decline in E-Cigarette Revenue by 2023

Business by 2FIRSTS.ai
Apr.29.2024
IQOS Supplier IntreTech Saw Decline in E-Cigarette Revenue by 2023
IntreTech reveals e-cigarette revenue drop in 2023 due to shift to fourth-generation products, receives buy rating from Huaxin Securities.

On April 28, IntreTech, a company listed on the Shenzhen Stock Exchange (stock code: 002925), revealed during an institutional research interview that its e-cigarette business revenue is expected to decrease in 2023.

 

IntreTech stated that the main reason for the decrease in revenue from supplying plastic components for third-generation e-cigarette products is due to the transition towards fourth-generation products as customers' development strategies change. The company's core components and complete devices are primarily supplying customers' fourth-generation products, which have successfully entered mass production and further established a business system of "components + parts + complete devices".

 

On the same day, Huaxin Securities conducted research on IntreTech and released a research report titled "Short-term Performance Pressure, Waiting for Volume Increase in the e-cigarette Business". The report gave IntreTech a buy rating.

 

According to reports, IntreTech, a supplier of precision plastic components for Philip Morris International's (PMI) e-cigarette device IQOS, mainly caters to the e-cigarette business. Previously, a comprehensive report on the HNB industry chain issued by China Merchants Securities pointed out that IntreTech's e-cigarette component business is closely linked with Philip Morris International (PMI). With the continuous expansion of the HNB industry and the consolidation of the company's competitive advantages, it is expected that the innovative consumer electronics business will lead the company's overall performance into a new stage.

 

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

JTI Liggett Puts U.S. Value Cigarette Brands in Spotlight at 2026 NACS Show
JTI Liggett Puts U.S. Value Cigarette Brands in Spotlight at 2026 NACS Show
At the 2026 NACS Show in Las Vegas, JTI Liggett highlighted its value-priced cigarette portfolio, including LD and Montego, following JT Group's acquisition of Vector Group. The company's U.S. business reported market share gains, with LD sales volume rising 32.6% in the first half of 2026. Meanwhile, Ploom was displayed separately at Altria's booth under an existing partnership. JTI Liggett booth staff told 2Firsts that the company had not yet launched nicotine pouch products in the United States.
EXPO
Oct.09
Bret Koplow Takes Permanent Charge of FDA Tobacco Center After Pushing Faster PMTA Reviews, as HHS Emphasizes Innovation and Access to Lower-Risk Alternatives
Bret Koplow Takes Permanent Charge of FDA Tobacco Center After Pushing Faster PMTA Reviews, as HHS Emphasizes Innovation and Access to Lower-Risk Alternatives
The U.S. Department of Health and Human Services has named Bret Koplow permanent director of the FDA’s Center for Tobacco Products, ending his period as acting chief. Koplow has spent years working on tobacco regulation, law and policy inside the FDA and, while serving as acting director, pushed for faster PMTA reviews and nicotine pouch review pilots. HHS also said CTP will prioritize innovation and access to less harmful alternatives for adult smokers while continuing efforts to protect youth.
Sep.09
Product | Juul Labs Launches Upgraded JUUL2 Kit in UK With Four Pods at £9.99 and USB-C Charging
Product | Juul Labs Launches Upgraded JUUL2 Kit in UK With Four Pods at £9.99 and USB-C Charging
Juul Labs UK has introduced an upgraded JUUL2 Starter Kit for the UK market in October 2026, retaining a recommended retail price of £9.99 while doubling the number of included pods from two to four. The kit contains Crisp Menthol, Virginia Tobacco, Mango and Watermelon pods. The updated device replaces the previous proprietary charging dock with a USB-C port and offers longer battery life. The kit also features reduced packaging and retains a two-year limited warranty. Distribution is scheduled through major UK retailers, wholesalers, convenience stores and the JUUL UK website.
product
Oct.15
Arizona Turns to a 50% Retail Vape Tax as Tobacco Tax Revenue Falls 47% From 2008
Arizona Turns to a 50% Retail Vape Tax as Tobacco Tax Revenue Falls 47% From 2008
Arizona's First Things First is pushing for an excise tax equal to 50% of the retail price of vaping products, estimating that the measure could generate about $100 million annually. The agency says its tobacco-tax revenue has fallen 47% from 2008 levels. Arizona has attempted to broaden its nicotine tax base in each of the past two years: a 2025 bill proposed a 50% wholesale-price tax, while a 2026 measure shifted to a 50% retail-price tax covering alternative nicotine products and vapor products. Separately, the state enacted HB 4001 this year to establish a new licensing and sales framework for alternative nicotine products.
Sep.21
Product | KT&G to Launch lil Tonino Lamborghini in South Korea, Bringing 3-Second Heat-Up to New HTP Platform
Product | KT&G to Launch lil Tonino Lamborghini in South Korea, Bringing 3-Second Heat-Up to New HTP Platform
KT&G will launch the lil Tonino Lamborghini heated tobacco device in Seoul on September 15, 2026. The product introduces a new heating technology called Flashwave Heating, which uses microwaves to heat tobacco sticks internally and delivers a manufacturer-rated heat-up time of about three seconds. The device features an all-metal aluminum body, a color display and a dedicated GUI, and launches alongside a new line of NAU tobacco sticks that are incompatible with existing lil consumables. Korean media describe the product as KT&G's first new heated tobacco platform since lil AIBLE was introduced in 2022.
Aug.31
PMI's IQOS Extends ZAMNA Electronic-Music Partnership to Spain as Vogue España Publishes Branded Content
PMI's IQOS Extends ZAMNA Electronic-Music Partnership to Spain as Vogue España Publishes Branded Content
Philip Morris International's IQOS has extended its partnership with electronic-music event brand ZAMNA to Spain, setting up a House of IQOS at ZAMNA Madrid. Vogue España and Time Out Madrid subsequently published branded content clearly labeled as collaborations with IQOS. PMI has also expanded its company-owned IQOS boutique network in Spain to seven cities this year. The company says IQOS's adjusted heated-tobacco market share in Europe reached 12.6% in the first quarter of 2026, with Spain among its stronger-performing European markets.
Sep.20