China

China’s top tobacco regulator has issued a directive aimed at preventing excess capacity and curbing “involution-style” competition in the e-cigarette sector. The notice tightens investment controls, formalizes verified capacity management and requires exporters to submit compliance proof for destination markets, signaling a push toward higher industry concentration and stricter cross-border oversight.

Tobacco industry in 2024 achieves record high tax revenue and fiscal total, contributing to economic stability and growth.

JNR launches new e-cigarette models, PowerMate 30K and AeroX 32K, with unique features and global presence.

State Tobacco Monopoly Administration Deputy Director Liu Sanjiang conducts tobacco research in Guangdong and Shenzhen from February 19th to 21st.

A smuggling operation involving illegal e-cigarettes was busted by authorities in Nanning, Guangxi, leading to multiple arrests.

Investors question Shunho's progress on HNB manufacturing project; company terminates plans due to policy changes.

Investors inquire about potential collaboration with Swedish match company and US nicotine pouch sales for Ruando Group (002923.SZ).

Smoore has unveiled a rare equity incentive plan linked to market value, targeting executives including Chairman Chen Zhiping. This bold move aims to align leadership with the company's long-term growth ambitions and enhance investor confidence. Cinda Securities analysts Wenqiang Jiang and Chen Li discuss the strategic implications of this plan, emphasizing Smoore’s focus on expanding its HNB and vaping businesses, while also exploring new ventures in medical nd beauty sectors.