Vaping Brand Shares Fall After Media Reports
Last month, Huabao International Holdings Ltd. (0336.HK) fell 8% in early trading, China Boton (3318.HK) dropped 4%, and RLX Technology (RLX.N) closed down nearly 5%, after Reuters reported from New York. A Xinhua news release said its reporters made unan
Last month, Huabao International Holdings Limited (0336.HK) saw its shares drop 8% in early trading, while China Baotong (3318.HK) fell 4%, and RELX Technology (RLX.N) closed down nearly 5% after a Reuters report in New York.
According to a news release from Xinhua News Agency, its reporters conducted surprise visits to e-cigarette shops in the northern cities of Tianjin and Shenyang. They found that while all shops had signs indicating age restrictions, the law was not always enforced. Some shops admitted they did not require age verification unless customers appeared very young.
Fu Jia, director of the Minor Protection Committee of the Tianjin Bar Association, stated: "E-cigarettes pose safety risks to minors and actions should be taken to further crack down on the sale of e-cigarettes to minors." The report aligns with the increasing interest of the domestic government in protecting local youth.
Upcoming E-Cigarette Regulations
Meanwhile, in the draft revision of the Tobacco Patent Sales Regulations, the Ministry of Industry and Information Technology and the State Tobacco Monopoly Administration proposed earlier this year to align e-cigarette regulations with those of tobacco products.
"As the market share expands and the types diversify, the e-cigarette industry has become accustomed to a regulatory vacuum," said Ma, adding that e-cigarettes have long been a gray area in the regulation of China's tobacco industry.
China's E-Cigarette Industry
According to iMedia Research, there were about 45,000 e-cigarette companies in 2013, a number that grew to nearly 170,000 by 2020. However, it also showed that among respondents in 2020, less than 40% had never used e-cigarettes.
Given these survey results, Ma believes these devices have become the "first cigarette" for many citizens, stating, "Now is a good time to strengthen controls." He added, "E-cigarette products involve many aspects of the tobacco, healthcare, and food industries."
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