Tianchang Group Expects Profit down by 60% Due to E-cigarette Sales

Business by 2FIRSTS.ai

Feb.27.2024

Tianchang Group Expects Profit down by 60% Due to E-cigarette Sales

Tianchang Group (02182.HK) expects a significant decrease in revenue and net profit due to declining e-cigarette sales.

Recently, Tianchang Group (02182.HK) announced that the group is expected to see a decrease of at least 30% in revenue for the year ending December 31, 2023 compared to the year ending December 31, 2022, with a reduction of 1.1439 billion Hong Kong dollars. Additionally, the group is expected to see a decrease of at least 60% in net profit for the year ending December 31, 2023 compared to the year ending December 31, 2022, with a reduction of 1.059 billion Hong Kong dollars.

The Board of Directors believes that the decrease in expected revenue and net profit is mainly attributable to the decrease in sales of e-cigarette products. As disclosed in the company's announcements dated March 14, 2022, June 14, 2023, and January 12, 2024, the sales orders of e-cigarette products have decreased for this fiscal year following the cancellation of exclusive rights agreements between the e-cigarette products' major customers.

It is reported that Tianchang Group used to provide OEM services for the e-cigarette brand "blu" under Imperial Tobacco. In their semi-annual report in 2023, Tianchang Group mentioned that sales orders for e-cigarette products had decreased during this period due to the cancellation of exclusive rights clauses between the main e-cigarette product customers.

References:

[1] 盈利警告

Also Read:

[1] Decline in Sales of E-cigarette Products for Tianchang Group

[2] Manufacturer of Blu Vapes, Tianchang Group, Sees Decline in E-Cigarette Sales

[3] JT Group Reports Record Profits in 2023FY: Ploom Occupying More than 10% of Japan's HNB Market

[4] Altria Group's Q4 Earnings Impacted by Declining Cigarette Sales

#E-cigarettes #Asia #Market #Products #Hong Kong #E-cigarette #E-cigarettes and Tobacco

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

Nicotine Pouch Brand VELO and McLaren Unveil Special Livery for the Abu Dhabi Grand Prix

According to PRNewswire, VELO and the McLaren Formula 1 Team have unveiled a special livery for the Abu Dhabi Grand Prix, co-created by nine superfans from around the world. The design forms the highlight of the “Live Your Fandom” campaign, reflecting memorable fan stories and celebrating the global McLaren community.

Dec.04 by 2FIRSTS.ai

Thailand to Establish Inter-Agency Committee to Strengthen E-Cigarette Enforcement

The Thai government will establish an inter-agency committee under the Prime Minister’s Office to address the rapid spread of e-cigarettes among youth. Deputy Prime Minister Sophon Sarum said the fragmented enforcement across multiple laws and agencies has created gaps. The new mechanism will coordinate enforcement, report directly to the Cabinet, and propose legal amendments if current laws are insufficient.

Nov.20 by 2FIRSTS.ai

2Firsts Observation｜PMI Launches IQOS ILUMA i × SELETTI Limited Edition at Dubai Airport

2Firsts observed that Philip Morris International (PMI) has set up a large-scale IQOS display at Dubai International Airport’s duty-free area, featuring the TEREA tobacco stick series with promotional offers. The brand also showcased its limited-edition collaboration with Italian design house SELETTI — IQOS ILUMA i × SELETTI — further strengthening its premium image through artistic design.

Nov.13 by 2FIRSTS.ai

Product | FLONQ Parent Company Launches New Vaping Brand ROQY: Two Hybrid-Nicotine Devices Debut in Russia

Alfabet Labs, the parent company of FLONQ, has recently launched its new vaping brand ROQY in Russia, debuting two products: ROQY L and ROQY M. Both devices use a hybrid nicotine formulation combining nicotine salts and freebase nicotine and are each available in 19 flavors. The two products are now on sale via the official ROQY website as well as multiple online and offline retailers across Russia.