On June 14th, the Hong Kong Stock Exchange-listed company, Tianchang Group, announced that compared to the same period last year, the group has recorded a decrease of approximately 68% in sales revenue for e-cigarette products.
Tianchang Group attributes their decline in sales to "the customer hiring other manufacturers to produce e-cigarette products, which resulted in a corresponding decrease in sales orders from the customer."
The company stated that it will continue to monitor the effects of the removal of exclusive rights clauses and the manufacturing and sales of its different products. It also aims to broaden its customer base by seeking new clients to purchase high-quality e-cigarette products, as the group is no longer bound by exclusive rights clauses to manufacture and sell e-cigarette products for a specific customer.
According to reports, Tianchang Group is an integrated injection molding solution provider, focused on mold design and manufacturing services, as well as injection component design and manufacturing services. In recent years, the company has expanded its business to manufacture e-cigarette products through OEM. Tianchang Group has previously acted as an original equipment manufacturer (OEM) for the e-cigarette brand "Blu," owned by Imperial Tobacco.
Reference:
The official announcement of Tianchang Group.
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