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Yinghe Technology: Benefiting from RMB Depreciation in E-cigarette Export?

Business by 2FIRSTS.ai
Jun.28.2024
Yinghe Technology: Benefiting from RMB Depreciation in E-cigarette Export?
Yinghe Technology's subsidiary Sikary benefits from RMB depreciation as it exports e-cigarettes in USD.

Recently, an investor raised a question on the investor interaction platform regarding Yinghe Technology (300457.SZ): the company's holding subsidiary Sikary is expected to export e-cigarettes worth 3.4 billion in 2023. Will these exports be settled in US dollars? With the recent devaluation of the Chinese currency exceeding 7.30 RMB, would the company benefit from this situation?

 

In response, Yinghe Technology stated that its subsidiary, Shenzhen Sikary Technology Co., Ltd., is engaged in the e-cigarette business. Sikary's e-cigarette products are primarily sold in overseas markets and are mainly settled in US dollars. The depreciation of the Chinese yuan is favorable for Sikary.

 

References:
[1] 公司控股子公司斯科尔2023年出口电子烟34亿，是否以美元结算，近期人民币贬值突破7.30，请问是否受益？
Also Read:
[1] Yinghe Technology's Overseas Sales and E-Cigarette Development Disclosed
[2] Yinghe Technology's Subsidiary Sikary is Not Involved in Investigation
[3] Yinghe Technology: Sikary Has No Plan for Nicotine Pouch, Medical or Health Vaporization Products
[4] Yinghe Technology: Sikary to Expand in Key Areas
[5] Yinghe Technology Received Buy Rating: Vape Business Achieved Revenue of 470 Million USD in 2023

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