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China Health Commission Says 'E-Cigarettes Are Not Safe'? Vape Stocks Plunge

H IQOS资讯网2021-05-28Views 270Source IQOS资讯网
On May 26, the National Health Commission and the WHO Representative Office in China jointly released the China Tobacco Hazard Health Report 2020. The report shows that the number of smokers in China has exceeded 300 million, with a smoking rate of 26.6%
On May 26, the National Health Commission and the WHO Representative Office in China jointly released the "2020 Report on the Harm of Smoking in China." The report shows that the number of smokers in China has exceeded 300 million, with a smoking rate of 26.6% among people aged 15 and above, and the male smoking rate reaching 50.5%.<\/span><\/div>
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Wu Xiangtian, Deputy Director of the Planning Department of the National Health Commission, pointed out, "We hope that the release of the '2020 Report' will effectively inform the public about the harms of tobacco and e-cigarettes, increase the willingness of smokers to quit, and help more smokers quit their addiction using scientific methods."<\/span><\/div>
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Regarding e-cigarettes, the report states, "There is sufficient evidence that e-cigarettes are unsafe and can harm health. The heating of e-cigarette flavorings can produce harmful substances, and the unreasonable use of flavorings can increase the harm to e-cigarette users."<\/span><\/div>
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The report also cites a study published in 2014 to prove that e-cigarettes are unsafe. This study, conducted by Goniewicz from the Roswell Park Comprehensive Cancer Center, measured aldehyde compounds in 12 e-cigarette samples, showing a 100% detection rate for formaldehyde, a 100% detection rate for acetaldehyde, a 91.67% detection rate for propionaldehyde, and a 100% detection rate for para-methylbenzaldehyde. These substances are classified as Group 1 and Group 2B carcinogens.<\/span><\/div>
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Additionally, influenced by the release of the "2020 Report on the Harm of Smoking in China," e-cigarette stocks collectively plummeted that day, delivering a heavy blow to e-cigarette companies.<\/span><\/div>
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Among them, e-cigarette giant Smoore International saw a drop of up to 20%, marking its largest decline since March. As of the close on May 26, it ultimately fell by 17.10%, closing at HKD 51.15 per share, with a market value of HKD 305.124 billion. Compared to the previous day's closing price of HKD 61.7 per share, it lost HKD 62.9 billion in market value.<\/span><\/div>
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The stock price of the e-cigarette leader, Fogcore Technology, listed in the U.S., also experienced a sharp drop before the market opened, falling nearly 15%. However, after the opening, the decline continued to narrow, indicating limited impact from the news. By the close, Fogcore Technology fell by 1.27%, priced at USD 10.88.<\/span><\/div>
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Additionally, on the 26th, China Boton also saw a significant drop, falling by 18.70% at one point, and closing down 17.94%.<\/span><\/div>
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Huabao International fell by 8.46% at one point, closing down 7.69%. However, on the 27th, the stock prices of China Boton and Huabao International began to gradually recover.<\/span><\/div>
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Currently, Smoore's stock price remains low, with some institutions believing that the decline is also related to BYD's entry into the e-cigarette OEM market, which may capture some of Smoore's market share.<\/span><\/div>