Smaller International and China Bank Sign Deposit Agreement

Jan.09.2023

Smaller International and China Bank Sign Deposit Agreement

Simaor International signs structured deposit agreement with China Bank for RMB35 billion, to be paid from available cash reserves.

Simo International announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary, Shenzhen Mackwell, has updated its structured deposit agreement with China Bank, effective January 5, 2023. As per the agreement, Shenzhen Mackwell will purchase two structured deposits for a total of RMB 3.5 billion, with amounts of RMB 1.76 billion and RMB 1.74 billion each, respectively, after redeeming RMB 1.5 billion on December 28, 2022. The subscription will be funded by the group's existing cash reserves and free cash flow.

2FIRSTS will continue to follow the developments and bring you updates. Stay tuned.

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China Tobacco Regulation Shift：Policy Updates and Market Impact

China Tobacco Regulation Shift：Policy Updates and Market Impact

DTI drafts administrative order proposing an open-pod and e-liquid ban and opens it for public consultation

DTI drafts administrative order proposing an open-pod and e-liquid ban and opens it for public consultation

Department of Trade and Industry’s (DTI) proposed move to restrict harmful vape products to protect young people, but said only a total ban on all vaping and novel tobacco products would effectively safeguard public health. The group warned that limiting rules to certain products such as open pods and e-liquids could create a “dangerous behavioral loophole,” leading users—especially youth—to switch to disposable or closed-system alternatives instead of quitting.

Feb.10 by 2FIRSTS.ai

After Export Tax Rebates Go to Zero: How China’s E-Cigarette Supply Chain Is Being Reshaped, According to 2Firsts Research

After Export Tax Rebates Go to Zero: How China’s E-Cigarette Supply Chain Is Being Reshaped, According to 2Firsts Research

China’s e-cigarette industry is adjusting to a major policy shift. From April 1, 2026, China will scrap the 13% export VAT rebate on e-cigarette products, a move affecting manufacturers centered in Shenzhen. Industry participants told 2Firsts the change is forcing a reassessment of pricing and capacity, with competition shifting toward cash flow resilience, regulatory compliance, and multi-location strategies.

Industry Insight

Jordan Reduces HTP and Vape Tax Burden as National Smoking Rate Hits 51.6%

Jordan Reduces HTP and Vape Tax Burden as National Smoking Rate Hits 51.6%

Jordan has published amendments to its special tax system reducing taxes on heated tobacco products, electronic cigarettes and e-liquids, with some reductions reaching 50%. Under the revised rules, taxes on devices and liquids have been lowered, prompting concern among medical and parliamentary circles. The government has not issued an official explanation for the move.

Dec.24 by 2FIRSTS.ai

European survey: current e-cigarette use among 15–19-year-olds rises from 14% (2019) to 22% (2024)

European survey: current e-cigarette use among 15–19-year-olds rises from 14% (2019) to 22% (2024)

A European study cited in the report says the share of young people aged 15 to 19 who are current e-cigarette users increased from 14% in 2019 to 22% in 2024, with Italy reflecting the broader European pattern. Over the same period, conventional cigarette smoking among young people is described as declining, with the proportion of students who have smoked at least once in their lifetime falling sharply from 1995 to 2024, and the largest drop occurring between 2019 and 2024.

Feb.12 by 2FIRSTS.ai

Exclusive｜Suspected China Tobacco Nicotine Oral Film Product Surfaces on Social Media

Exclusive｜Suspected China Tobacco Nicotine Oral Film Product Surfaces on Social Media

China Tobacco Jiangsu IC appears to have developed a nicotine oral film product under the "Nanjing" brand, according to images circulating on Chinese social media. If confirmed, this could potentially mark China Tobacco's first oral nicotine product targeting the domestic market. The product's authenticity has not been officially verified, and no nicotine pouch products have been approved for sale in China.

Turkey Plans to Ban E-Cigarette Advertising Under Revised Commercial Advertising Rules

Turkey Plans to Ban E-Cigarette Advertising Under Revised Commercial Advertising Rules

Turkey is advancing amendments to its Regulation on Commercial Advertising and Unfair Commercial Practices, proposing stricter controls on e-cigarette and gambling advertising.

Dec.26 by 2FIRSTS.ai

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DTI drafts administrative order proposing an open-pod and e-liquid ban and opens it for public consultation

DTI drafts administrative order proposing an open-pod and e-liquid ban and opens it for public consultation

After Export Tax Rebates Go to Zero: How China’s E-Cigarette Supply Chain Is Being Reshaped, According to 2Firsts Research

After Export Tax Rebates Go to Zero: How China’s E-Cigarette Supply Chain Is Being Reshaped, According to 2Firsts Research

Jordan Reduces HTP and Vape Tax Burden as National Smoking Rate Hits 51.6%

Jordan Reduces HTP and Vape Tax Burden as National Smoking Rate Hits 51.6%

European survey: current e-cigarette use among 15–19-year-olds rises from 14% (2019) to 22% (2024)

European survey: current e-cigarette use among 15–19-year-olds rises from 14% (2019) to 22% (2024)

Exclusive｜Suspected China Tobacco Nicotine Oral Film Product Surfaces on Social Media

Exclusive｜Suspected China Tobacco Nicotine Oral Film Product Surfaces on Social Media

Turkey Plans to Ban E-Cigarette Advertising Under Revised Commercial Advertising Rules

Turkey Plans to Ban E-Cigarette Advertising Under Revised Commercial Advertising Rules