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

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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.

References:

[1] 盈趣科技:2024年04月27日投资者关系活动记录表

[2] 2024年新型烟草行业专题报告：四代IQOS助力菲莫国际再攀高峰，重点关注盈趣科技

Also Read:

[1] IntreTech Plans E-Cigarette Mass Production in 3rd Quarter

[2] IQOS Device Maker IntreTech Releases 2023 Semi-Annual Report

#Asia #Open system e-cigarettes #China #Major companies

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