JSTE's Response to JFT Regarding Debt Situation: False Allegations, Litigation Underway

Business by 2FIRSTS
Jun.06.2024
JSTE's Response to JFT Regarding Debt Situation: False Allegations, Litigation Underway
JSTE Technology Mr. Liu De Wen responds to JFT's creditor letter, claiming it contains falsehoods. The full statement follows.

On June 6th at noon, Mr. Liu Dewen, the head of JSTE Electronic Technology (Dongguan) Co., Ltd., publicly responded to the "Letter to Creditors" released by JFT, stating that the letter contained falsehoods.

 

The complete response is as follows:

 

JFT Company confirmed in a December 2021 email that they had acquired a 50% stake in our JSTE factory, but they suddenly changed their minds in September 2022 and decided to sell their stake instead of acquiring it. They officially exited JSTE in January 2023 and received a significant amount of money from the stock transfer.

During the equity exit process, JFT company confirmed the value of over 60 million worth of JUSTFOG brand e-cigarettes under the original processing agreement, but they have been delaying payment and not taking delivery. After several months of dragging their feet, they suddenly notified of the termination of the processing partnership, leaving Jest in a difficult situation.

 

However, the European agents of JFT company continue to authorize domestic licensed trading companies to request small batches of JUSTFOG branded e-cigarettes for sale. Unfortunately, this led to a criminal charge of trademark infringement by JFT, claiming that the e-cigarettes produced under the original agreement were unauthorized. The malicious intent behind this action is surprising, and this absurdity cannot be justified. Jast company reserves the right to hold the criminal plaintiff accountable for their legal responsibility.

 

Subsequently, Jast Company employed legal methods such as litigation and arbitration to seek compensation, and successfully obtained an injunction to preserve JFT Company’s registered trademarks (such as JUSTFOG) in China, as well as its fully-owned subsidiary’s bank accounts and patents related to the e-cigarette business in China. The breach of contract case is scheduled to be heard in the near future.

 

At the same time, Gest also filed a patent confirmation lawsuit to the court. During the cooperation between both parties, JFT appointed a research and development manager who established a labor relationship with Gest, and transferred numerous patents to its wholly-owned subsidiary, severely infringing on Gest's rights.

 

As a leading media and think tank in the field of atomization technology, 2FIRSTS closely monitors the latest developments on this issue and maintains contact with various parties.


 

Click on the image to read: "Vape Debt Risk: How can the operational difficulties of a single company affect the entire industry chain?"

 

JSTE's Response to JFT Regarding Debt Situation: False Allegations, Litigation Underway

 

Click on the image to read: JSTE Electronic Technology (Dongguan) Co., Ltd. Announces Liquidation

 

JSTE's Response to JFT Regarding Debt Situation: False Allegations, Litigation Underway
Click on the image to read: JSTE Electronic Technology (Dongguan) Co., Ltd. Announces Liquidation

 

Click on the image to read: "JUSTFOG Official Response: JSTE's Liquidation is for Self-Protection after Serious Violations".

 

JSTE's Response to JFT Regarding Debt Situation: False Allegations, Litigation Underway
Click on the image to read: "JUSTFOG Official Response: JSTE's Liquidation is for Self-Protection after Serious Violations"

 

 

 

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

EU Launches Online Feedback as TPD Revision Enters New Milestone
EU Launches Online Feedback as TPD Revision Enters New Milestone
The European Commission has opened an online call for evidence on revising EU tobacco products and advertising rules, marking a new phase in the TPD/TAD review. Policy options may cover novel products, flavours, packaging, digital marketing and advertising. A 2Firsts review of 855 early submissions shows rapid engagement and recurring debate over differentiated regulation, harm reduction, youth protection, illicit trade and economic impact.
Special Report
May.21
Trump’s Tobacco Investments and Industry Donations Draw Scrutiny as FDA Eases Vape and Nicotine Pouch Rules
Trump’s Tobacco Investments and Industry Donations Draw Scrutiny as FDA Eases Vape and Nicotine Pouch Rules
A report by KFF Health News says that as the Trump administration pursued a series of policies favorable to the nicotine and tobacco industry, President Donald Trump increased his holdings in tobacco companies while benefiting from substantial industry-linked political donations, prompting questions from public health advocates about potential conflicts of interest and regulatory direction.
Jun.12
BAT Restructuring to Affect 9,000 Roles as Tobacco Group Pushes Cost Cuts and AI
BAT Restructuring to Affect 9,000 Roles as Tobacco Group Pushes Cost Cuts and AI
British American Tobacco (BAT) plans to cut about 5,500 jobs globally and shift around 3,500 roles to strategic partners by the end of 2026, affecting about 9,000 roles in total, as the company seeks to simplify operations, strengthen technology capabilities and deliver £600 million in annual savings by 2028.
BAT
Jun.29
KT&G Q1 2026 Financial Results: Revenue at $1.156 Billion, E-Cigarettes to Launch Independent Overseas Expansion
KT&G Q1 2026 Financial Results: Revenue at $1.156 Billion, E-Cigarettes to Launch Independent Overseas Expansion
KT&G reports a 27.6% increase in Q1 operating profit, with traditional and new tobacco sectors driving growth.
May.07 by 2FIRSTS.ai
 NYT: Reynolds American Donated $5 Million Before FDA Vape Policy Shift
NYT: Reynolds American Donated $5 Million Before FDA Vape Policy Shift
According to The New York Times, Reynolds American donated $5 million to a Trump-backed super PAC shortly before the FDA introduced a new policy that could benefit major tobacco companies seeking to sell flavored vaping products.
News
May.21
Michael Olise’s World Cup Locker-Room Photo Puts Nicotine Pouches in the Sports Business Spotlight
Michael Olise’s World Cup Locker-Room Photo Puts Nicotine Pouches in the Sports Business Spotlight
Several European sports outlets have reported on a suspected nicotine pouch seen in French footballer Michael Olise’s locker photo, bringing football’s long-running “snus” culture back into public view and highlighting brand visibility, product classification and public-health debate around nicotine pouches in sports settings.
News
Jun.25 by 2Firsts Perspectives