Jinjia 2024 Mid-Year Report: Revenue Plummets 27% to 1.484 Billion Yuan, New Tobacco Business Declines 70%

Business by 2FIRSTS.ai
Aug.26.2024
Jinjia 2024 Mid-Year Report: Revenue Plummets 27% to 1.484 Billion Yuan, New Tobacco Business Declines 70%
Jinjia Group (002191.SZ) released its 2024 interim report, showing a decrease in revenue and profit compared to last year.

Recently, Jingjia Corporation (002191.SZ) released its 2024 semi-annual report.

 

  • In terms of revenue and profit, the company achieved a total operating income of 1.484 billion yuan in the reporting period, a year-on-year decrease of 27%, with a net profit of 181 million yuan, a year-on-year decrease of 35.26%; 
  • At the core business level, during the reporting period, the company's new tobacco business operating income decreased by 70.25% to approximately 91 million yuan, and cigarette product operating income decreased by 24.33% compared to the same period last year; 
  • From the same period last year to the present, the proportion of the company's new tobacco business operating income has decreased from 15.13% to 6.16%.

 

Jinjia 2024 Mid-Year Report: Revenue Plummets 27% to 1.484 Billion Yuan, New Tobacco Business Declines 70%
Image source: Jinjia Holdings

 

Jinjia 2024 Mid-Year Report: Revenue Plummets 27% to 1.484 Billion Yuan, New Tobacco Business Declines 70%
Image source: Jinchia Corporation

 

Jingjia Corporation stated that the decrease in revenue from its new tobacco business was primarily due to changes in domestic regulatory policies, which led to a shift in the company's cooperation model with core customers from centralized purchasing to processing services, directly resulting in a reduction in income. Additionally, changes in the international policy environment have further decreased the volume of business orders.

 

Furthermore, the company added that in response to performance pressures, they are currently focusing on stabilizing and expanding their customer base through customized services. They are actively expanding their overseas business layout, exploring and creating new growth opportunities. They are increasing research and development investments, closely aligning with customer and market demands, and continuously optimizing products and services.

 

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

Philip Morris Korea Launches New IQOS ILUMA i “Electric Purple” Color Edition
Philip Morris Korea Launches New IQOS ILUMA i “Electric Purple” Color Edition
Philip Morris Korea said it has launched a new color edition of its heated tobacco device brand IQOS, called “IQOS ILUMA i Electric Purple.” The new color has been added to the IQOS ILUMA i series and applies to the Prime, standard, and One variants. The product is being sold through the IQOS website and nine IQOS directly operated stores across South Korea.
Mar.12 by 2FIRSTS.ai
Can hookah go institutional? A hookah company seeking to go public makes its case with capital, technology and regulation
Can hookah go institutional? A hookah company seeking to go public makes its case with capital, technology and regulation
2Firsts explored whether hookah can evolve into a more mature and governable category by interviewing Dubai-based hookah company AIR. AIR argues that strong margins, OOKA’s closed-system model and the prospect of differentiated regulation could support that shift. The larger question is whether this is simply AIR’s capital-markets narrative, or an early sign that competition, regulation and category boundaries in hookah are beginning to change.
Apr.02
Fontem Sues FDA Over Refusal-to-File Decision for Nicotine Pouch PMTAs
Fontem Sues FDA Over Refusal-to-File Decision for Nicotine Pouch PMTAs
According to a complaint filed on March 17 in the U.S. District Court for the Northern District of Texas, Fontem US, LLC and Texas retailer OM Investment, LLC sued the Food and Drug Administration and the Department of Health and Human Services over FDA’s refusal-to-file decision for certain Zone nicotine pouch PMTAs.
Mar.19 by 2FIRSTS.ai
FDA Renews Exposure Modification Authorization for IQOS Devices and Three HeatSticks Products
FDA Renews Exposure Modification Authorization for IQOS Devices and Three HeatSticks Products
U.S. Food and Drug Administration renewed modified risk granted orders for five IQOS products from Philip Morris Products S.A., including two IQOS system holders and chargers and three HeatSticks products. Under the renewed orders, the products may continue to be marketed with an exposure modification claim.
Apr.20 by 2FIRSTS.ai
China Boton Group Posts 2025 Revenue of RMB 1.496 Billion, With E-Cigarette Product Revenue Up 4.6%
China Boton Group Posts 2025 Revenue of RMB 1.496 Billion, With E-Cigarette Product Revenue Up 4.6%
China Boton Group reported its results for the year ended December 31, 2025. Revenue was RMB 1.496 billion, down about 9.5% from RMB 1.653 billion in 2024. Gross profit was RMB 377.1 million, with a gross margin of 25.2%, and the group recorded a net loss of RMB 1.000 billion for the year.
Mar.24 by 2FIRSTS.ai
Reuters Exclusive: FDA’s Fast-Track Review of Nicotine Pouches Slows Over Youth and New-User Concerns
Reuters Exclusive: FDA’s Fast-Track Review of Nicotine Pouches Slows Over Youth and New-User Concerns
Reuters reported on April 1 that several popular nicotine pouch products still have not been cleared for sale in the United States despite a fast-track review pilot run by the U.S. Food and Drug Administration. Three sources said FDA reviewers have taken a cautious approach because of potential risks to youth and other non-tobacco users, including the possibility of driving nicotine addiction among adults who do not already smoke.
Apr.02 by 2FIRSTS.ai