Smaller International and China Bank Sign Deposit Agreement

Jan.09.2023

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.

This document has been generated through artificial intelligence translation and is provided solely for the purposes of industry discourse and learning. Please note that the intellectual property rights of the content belong to the original media source or author. Owing to certain limitations in the translation process, there may be discrepancies between the translated text and the original content. We recommend referring to the original source for complete accuracy. In case of any inaccuracies, we invite you to reach out to us with corrections. If you believe any content has infringed upon your rights, please contact us immediately for its removal.

Thai Police Seize 30,000 Illegal Vapes Worth Over US$270,000

According to Thai police, officers seized 30,000 illegal vapes worth over THB 10 million (US$270,000) and arrested two suspects linked to online sales via LINE account “VST Nuan Chan.” Raids were conducted in Bangkok and Samut Prakan, uncovering a main warehouse and residence. Both suspects confessed and face charges under the Product Safety Act and Customs Law for illegal import and sale.

Oct.30 by 2FIRSTS.ai

5th Circuit Reviews FDA’s Compliance on Small-Business Impact of Vape Rule

A Fifth Circuit panel expressed doubts about whether the U.S. Food and Drug Administration complied with the Regulatory Flexibility Act when issuing its 2021 final rule on premarket tobacco product applications. Vape companies argued the FDA relied on outdated and inaccurate economic data, while the government said the challenged requirements stem from the Tobacco Control Act.

Dec.03 by 2FIRSTS.ai

AIRSCREAM Unlocks Pan-European Nicotine Pouch Market for B2B Partners with Full-Service EU OEM Solutions

Showcased at PouchEx Stockholm, AIRSCREAM’s end-to-end OEM ecosystem demonstrates how brands can enter the fast-growing European nicotine pouch market with greater speed, confidence, and regulatory readiness.

Dec.04

Samsung's battery explosion case proceeds as court finds manufacturer maintained “sufficient contacts” with the state

The Minnesota Court of Appeals has ruled that Samsung SDI Co., Ltd., a South Korean battery manufacturer, is subject to Minnesota jurisdiction in a product-liability case involving a vape battery explosion. The court found the company had “sufficient minimum contacts” with the state through extensive business activity.

Oct.20 by 2FIRSTS.ai