After Tmall and Meituan, smartphone maker Tianyin Holdings enters the vaping market

China is a major manufacturing hub for e-cigarettes, and the production of e-cigarettes has formed a mature industrial chain system domestically, with a broad industry outlook. Before domestic standards arrive, internet e-commerce companies like Tmall and Meituan have successively added retail tobacco (including e-cigarettes), and many listed companies in China have also started e-cigarette businesses, not wanting to miss out on the opportunities.

There are seven major listed companies related to e-cigarettes in the A-share market. It is reported that these A-shares generated 21.8 billion yuan in revenue in 2018, with a total net profit of nearly 3.6 billion yuan. Recently, I learned that another listed company has entered the e-cigarette industry: Tianyin Holdings (000829.SZ).