Vaping Company Posts RMB 1.7 Billion in First-Half Revenue

On August 27, Jincheng Pharmaceutical released its 2023 semiannual report, stating that the company achieved operating revenue of RMB 1.705 billion, down 7.91% year-on-year, with net profit attributable to shareholders of listed companies reaching RMB 102 million. Among its most closely watched businesses, the nicotine project for e-cigarettes recorded solid production and sales, with first-half sales volume nearing 17 tons.

In the announcement, the company said that key projects such as nicotine for e-cigarettes are progressing smoothly and are expected to become important sources of future revenue and profit. This is also substantially higher than the RMB 380 million (US$52.15 million) in net revenue reported by RELX parent RLX Technology for the second quarter of 2023.