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Daily News on Vape Industry June 5th, 2024

  1. JusterElectronic Technology (Dongguan) Co., Ltd. issued a self-liquidation announcement, announcing that it will start liquidation from now on and stop all business activities. The company said that due to the malicious unilateral termination of the contract by its main foreign customer JFT Co., Ltd., it suffered a loss of more than 60 million yuan, which caused serious difficulties in the company’s operation and management, and had to decide to liquidate.


  1. China Tobacco International (Hong Kong) Co., Ltd. expects revenue and profit to increase by no less than 10% and 30% respectively in the first half of 2024, mainly due to the recovery of duty-free shop consumption, optimization of tobacco product portfolio, increase in self-operated business, and improvement in tobacco leaf product import and export business.


  1. ELF BAR launched a 20,000puffdisposable vape ELF BARGH 20000 with a side screen in Canada, priced at 33.99 Canadian dollars.


  1. In April 2024, China’s vapeexports to Croatia were about 9.94 million US dollars, a month-on-month decrease of 34.19% and a year-on-year decrease of 63.29%; the export volume was about 112 tons, a month-on-month decrease of 29.89% and a year-on-year decrease of 58.56%.


  1. Zimbabwe plans to strengthen cooperation with Chinese companies to build a multi-billion-dollar vapeproduction factory to attract Chinese investment.


  1. From June 5, 2024, the Philippines will implement new vapestandard licensing regulations. At that time,vapes that have not obtained standard licenses will not be able to enter the Philippine market.


  1. Japan Tobacco International (JTI) is working to promote its heated tobacco devices “PIoom X Advanced” and “Evo” to markets outside London. According to local suppliers, sales of “PIoom” have almost doubled since last year. At the same time, in the traditional retail sector, the market value of the heated tobacco category has reached 120 million pounds, with an annual growth rate of 8.9%.


  1. Malaysia will implement new bill aimed at prohibiting minors from purchasing and using tobacco and vapes.