China’s Health Commission Says E-Cigarettes Are Unsafe? Vaping Stocks Plunge
On May 26, the National Health Commission and the WHO Representative Office in China jointly released the 2020 Report on the Health Hazards of Smoking in China. The report shows that there are now more than 300 million smokers in China, with a smoking rat
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," which shows that the number of smokers in China has exceeded 300 million, with a smoking rate of 26.6% among people aged 15 and older, and a male smoking rate as high as 50.5%.
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."
Regarding e-cigarettes, the report states, "There is sufficient evidence that e-cigarettes are unsafe and can harm health. Harmful substances can be produced when e-cigarette flavorings are heated, and unreasonable use of flavorings can increase the harm to e-cigarette users."
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.
Additionally, influenced by the release of the "2020 Report on the Harm of Smoking in China," e-cigarette concept stocks collectively plummeted on the same day, delivering a heavy blow to e-cigarette companies.
Among them, e-cigarette giant Smoore International saw a drop of up to 20%, the 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, the market value evaporated by HKD 62.9 billion.
The stock price of the e-cigarette leader listed in the U.S., Fogcore Technology, also experienced a sharp drop before the market opened, falling nearly 15%. However, after the market opened, the decline continued to narrow, with limited impact from the news. By the close, Fogcore Technology fell by 1.27%, priced at USD 10.88.
Additionally, on the 26th, China’s Borton also saw a significant drop, falling by 18.70% at one point, and closing down 17.94%.
Huabao International fell by 8.46% at one point, closing down 7.69%. However, on the 27th, the stock prices of China’s Borton and Huabao International began to gradually recover.
Currently, Smoore's stock price remains low, with some institutions believing that the decline in Smoore International's stock price is also related to BYD's involvement in e-cigarette OEM, which may seize some of Smoore's market share.
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