According to a report by Benzinga on June 12, Ispire Technology Inc. CEO Michael Wang predicts that in the next 2 to 3 years, e-cigarettes will become the preferred method of using marijuana. He emphasized the advancements in vaporizer technology and the shift in consumer preferences away from traditional methods of marijuana consumption.
We entered the cannabis market three and a half years ago and quickly rose to become one of the top four players in a short amount of time.
Michael Wang revealed that the company has achieved a 57% year-on-year growth in sales of cannabis-related hardware. The company's spokesperson also elaborated on strategic expansion plans, including the establishment of a production base in Malaysia to offset geopolitical risks and increase profit margins.
This is in response to changes in the industry, while also maintaining our competitive edge in innovation.
The spokesperson emphasized how Ispire One technology has helped them collaborate with Acreage and introduced their age verification technology that uses innovative technologies such as blockchain and Bluetooth to ensure that products are only used by verified individuals. Michael Wang stated that as marijuana policies change, Ispire has been continuously innovating and preparing for the integration of the industry, viewing it as an inevitable result of federal legalization.
When integration occurs, production levels and operational efficiency will become even more important. Therefore, we want to be at the forefront of this inevitable trend.
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