RMB Depreciation Reflects Well on SKE's Export of E-cigarettes

Business by 2FIRSTS.ai

Apr.08.2024

RMB Depreciation Reflects Well on SKE's Export of E-cigarettes

Investors inquire about Yinghe Technology's subsidiary Sikary exporting $3.4 billion worth of e-cigarettes in 2023 in foreign currency amid recent RMB depreciation.

Recently, some investors have inquired about Yinghe Technology (300457), asking whether its subsidiary SKE will export 3.4 billion e-cigarettes in 2023 and if the transactions will be settled in foreign currency. With the recent depreciation of the Renminbi, they want to know if the company will benefit from this.

The company responded by stating that SKE mainly settles transactions in US dollars, so the depreciation of the Chinese yuan is beneficial for them.

References:

[1]

Also Read:

[1] Stock Prices of Smoore and Yinghe Plummet after UK Disposable Ban

[2] Yinghe Technology's Major Shareholder Transfers Shares to Subsidiary

[3] Yinghe Technology Achieves Strong Growth in Q3 2023

[4] Yinghe Technology: Sikary Expands Overseas with Pod System Products

#Asia #Open system e-cigarettes #Market #China #Disposable e-cigarettes

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

Chonburi Police Raid Major E-Cigarette and Vape Liquid Warehouse Worth Over US$920,000

Thailand Chonburi provincial police, in coordination with multiple agencies, raided a large-scale warehouse in downtown Chonburi used for producing and distributing e-cigarettes and vape liquids. Two Chinese nationals were arrested, and more than 40 categories of contraband—including vapes, e-liquids, and production equipment—were seized, with an estimated total value exceeding US$920,000 (about 30 million Thai baht).

Nov.17 by 2FIRSTS.ai

Michigan Senate Passes Bipartisan Bills Requiring Tobacco Retailer Licensing

The Michigan Senate has passed bipartisan legislation requiring tobacco retailers to be licensed statewide, aiming to strengthen enforcement against youth tobacco use. The bills introduce regular inspections, tougher penalties for sales to minors, regulation of online and delivery sales, and a ban on flash sales. The legislation now moves to the Michigan House for further consideration.

Dec.26 by 2FIRSTS.ai

NSW Landlords Could Face Jail or $165,000 Fine for Allowing Illegal Vape and Tobacco Sales

According to The Guardian, landlords in New South Wales who knowingly allow tenants to sell illicit tobacco or illegal vapes could face fines of up to AUD 165,000, a year in prison, or both. The new offences are part of the state government’s broader crackdown on Australia’s growing black market for cigarettes and vaping products.

Nov.12 by 2FIRSTS.ai

Spain's Socialist Party proposes gradual decrease of nicotine pouch tax rate to 0.10 euros/gram by 2030

Spain’s Socialist Party (PSOE) has submitted a legal amendment to the Congress proposing a gradual reduction of the excise duty on nicotine pouches. The current rate of €0.10 per gram would be phased in progressively until 2030. The plan sets the rate at €0.02/g in 2026, rising by €0.02 annually until reaching €0.10/g in 2030. PSOE says this measure would mitigate price shocks and make the tax system more progressive.