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

Product | YOOZ Launches Waker Electronic Shisha Device, Expanding Vape Applications Beyond Portable Devices
Product | YOOZ Launches Waker Electronic Shisha Device, Expanding Vape Applications Beyond Portable Devices
YOOZ has introduced the Waker Electronic Shisha device, expanding its vaping portfolio into the electronic shisha category. The device combines a rechargeable hardware platform with dedicated cartridges, featuring a 4,000mAh battery, up to 60W output power, and LED lighting effects. The product has appeared across multiple French retail channels, reflecting the continued expansion of vaping products into new consumption scenarios.
Jul.13
DOJ Trade Fraud Task Force Tops $1 Billion in Cases, Putting Vape Supply Chains at Risk of Fraud Enforcement
DOJ Trade Fraud Task Force Tops $1 Billion in Cases, Putting Vape Supply Chains at Risk of Fraud Enforcement
According to the U.S. Department of Justice (DOJ), Fox News and other reports, the DOJ’s Trade Fraud Task Force (TFTF) has been linked to more than $1 billion in recoveries, penalties, forfeitures and publicly charged losses in less than one year. The task force focuses on trade fraud issues including country-of-origin fraud, illegal transshipment, false declarations and tariff evasion. While vape products are not the main source of the $1 billion figure, the industry’s reliance on global manufacturing and cross-border supply chains places it within broader U.S. trade enforcement scrutiny. The development suggests that U.S. oversight of cross-border vape products may increasingly extend beyond product authorization into import compliance, supply-chain transparency and corporate accountability.
Jul.23
BAT New Categories Revenue Rises 18% in H1 2026 as Broad Portfolio Offers More Ways to Win—and Lose
BAT New Categories Revenue Rises 18% in H1 2026 as Broad Portfolio Offers More Ways to Win—and Lose
British American Tobacco’s New Category revenue rose 18% at constant rates in the first half of 2026. Nicotine-pouch brand Velo expanded rapidly, while Vuse recovered as U.S. enforcement against illicit e-vapor products strengthened. Heated-tobacco platform glo remained under pressure, and cigarettes continued to provide most of the group’s profit and cash. Compared with PMI and JT, BAT has more routes to growth—but also greater regulatory, investment and execution risks across its broader portfolio.
BAT
Jul.30
Product | Geek Bar Expands Meloso Lineup With the Launch of Meloso Max 2
Product | Geek Bar Expands Meloso Lineup With the Launch of Meloso Max 2
Geek Bar has added Meloso Max 2 to its official product lineup, further expanding its disposable vape portfolio. As the latest generation of the Meloso series, the new device introduces upgrades in endurance, device interaction and industrial design while reinforcing Geek Bar’s strategy of offering differentiated disposable products across multiple usage scenarios.
Jun.26
French Vape Distributor Kumulus Vape Yields About 3% as Earnings Growth Stalls
French Vape Distributor Kumulus Vape Yields About 3% as Earnings Growth Stalls
Listed French vape distributor Kumulus Vape will trade ex-dividend on June 26, 2026, and pay an annual dividend of €0.10 per share on June 30, with Simply Wall St saying the payout is covered by profit and free cash flow, while weak earnings growth remains a concern.
Industry InsightMarketNews
Jun.24
Scottish Vape Display Rules Could Cost Businesses £61 Million, Affecting More Than 11,000 Retail Outlets
Scottish Vape Display Rules Could Cost Businesses £61 Million, Affecting More Than 11,000 Retail Outlets
A Scottish government impact assessment estimates that proposed vape display and packaging rules could create up to £61 million ($82 million) in compliance costs for businesses, affecting more than 11,000 retail outlets. The estimated costs are mainly linked to inventory adjustments, retail storage changes and the resources required for businesses to understand and implement the new requirements. The measures form part of the UK’s broader efforts to tighten vape regulation, particularly around product displays, packaging and sales practices.
Aug.10