E-cigarette chip supplier terminates IPO?

On August 20, news broke that the e-cigarette chip supplier Tor Micro has terminated its IPO.

Tor Micro is an integrated circuit design company focused on the research, design, and sales of high-performance analog and mixed-signal chips, with its financial reports indicating that the company's products are primarily sold to the e-cigarette industry. From the main business perspective, the company's main products are used in e-cigarette categories. Data shows that from 2019 to 2021 and from January to June 2022, the revenue share of Tor Micro's airflow sensor modules and e-cigarette MCU solution boards accounted for 72.23%, 74.31%, 71.88%, and 69.43%, respectively. The company's products have entered the supply chain systems of many well-known terminal manufacturers, including Smoore International, Joyetech, Hanqingda, Skyworth, Hisense, ZTE, FiberHome, TP-Link, iRobot, Hikvision, Dahua Technology, and other leading companies in various segments.