On May 24th, Yinghe Technology released its "Investor Relations Activity Record" in which it stated that its subsidiary, Shenzhen Scola Technology Co., Ltd., is focused on the electronic cigarette industry. In order to expand into the European market, the board of directors at Yinghe Technology has decided to support Scola in establishing a wholly-owned subsidiary in the UK. The company also mentioned that it has given full autonomy to Scola's management team and that moving forward, its electronic cigarette business will mainly focus on overseas markets.
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Question: It has been rumored that the company's electronic cigarette business is expanding, is this true? What are the plans for the future of the electronic cigarette business?
Answer: The subsidiary company, Shenzhen Smoke Technology Co., Ltd. is engaged in the electronic cigarette industry. Since 2022, the company has been vigorously developing its own brand business and has achieved good results in its brand business in the UK and other European countries due to its product and technological advantages. In order to further seize the development opportunities in the European market, accelerate the TPD certification of new electronic cigarette products in Europe, and quickly respond to customer pre-sale and after-sale service needs, the board of directors of the company has approved the establishment of a wholly-owned subsidiary in the UK by Smoke Technology. At the same time, in order to further enhance market competitiveness and delivery capacity, Smoke Technology plans to add office and production space to meet customer order shipping needs. The company has given Smoke Technology's management team full autonomy, and its electronic cigarette business will mainly focus on overseas markets in the future.
According to reports, Winhi Technology is headquartered in Shenzhen and was listed on the ChiNext board of the Shenzhen Stock Exchange in 2015. It has several wholly-owned and controlling subsidiaries, including five major production bases located in Huizhou and Dongguan, Guangdong, Yichun Economic Development Zone in Jiangxi, and Huzhou, Zhejiang.
Original text: "Original question and answer｜Image source: Yinghe Technology" Journo English: "Q&A Transcript | Image Source: Winpos
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