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多家电子烟概念股月内股价大涨!靴子落地,“马太效应”开启

A number of e-cigarette concept stocks soared within the month! Boots fall to the ground, "Matthew effect" on

資本邦 ·  Nov 29, 2021 10:46

On November 29th, Capital Bang learned that Hong Kong e-cigarette stocks continued to rise in recent days, with China's Bolton (03318.HK) up more than 15%, Huabao International (00336.HK) more than 14%, China Tobacco Hong Kong (06055.HK) up more than 8% and Smoore International Holdings Limited (06969.HK) up more than 9% as of press time.

On November 26th, the share price of e-cigarette leader RLX Technology Inc. (RLX.US) showed a V-shaped trend. Shares rose more than 6% at the start of trading, but then fell. By the close, RLX Technology Inc. was up 1.85% at $5.51.

From the beginning of this month to Friday, Bolton shares in China rose 62 per cent, while shares in Smoore International Holdings Limited and BYD Electronic rose 31.37 per cent and 40.6 per cent, respectively. RLX Technology Inc., a listed US stock company, rose 13.37 per cent.

In terms of news, on November 26, Article 65 of the regulations of the people's Republic of China on the implementation of the Tobacco Monopoly Law was added: "Electronic cigarettes and other new tobacco products shall be implemented with reference to the relevant provisions of these regulations." This means that e-cigarettes have "laws to follow" for the first time in China, and at the same time, China Tobacco will dominate the follow-up supervision.

When the boots landed, a number of e-cigarette companies collectively expressed their firm support for the revision of the regulations.

As an e-cigarette leader, RLX Technology Inc. said that as a practitioner in the e-cigarette industry, he will resolutely support the revision of regulations, actively implement regulatory requirements, continuously increase investment in research and development, provide users with high-quality products, and earnestly fulfill their social responsibilities. strive to promote the long-term and healthy development of the industry.

According to incomplete statistics, there are more than 30 listed companies involved in the concept of e-cigarettes in China, but they mainly focus on raw materials and parts, including tobacco oil, batteries, atomizers, chips, smoking sets and so on. The mid-stream manufacturing process is mainly based on OEM or ODM mode, in which Smoore International Holdings Limited is the world's largest manufacturer of electronic atomization equipment; Yueke and other brands compete; retailers are very important drivers of e-cigarette sinking, including Tianyin Holdings, Aster and so on.

It is pointed out that after the inclusion of supervision, various standards, such as e-cigarette national standards, production standards, sales channels and so on, can continue to be refined, which is conducive to the legal circulation of e-cigarettes. Tianfeng Securities believes that the gradual landing of e-cigarette supervision, good compliance advantages of the leader.

In fact, the regulation of e-cigarettes has been a problem for a long time. After the release of the decision on revising the regulations on the implementation of the Tobacco Monopoly Law of the people's Republic of China (draft for soliciting opinions) in March this year, concerns about whether e-cigarette products can continue to be sold have intensified.

After determining the legal identity of e-cigarettes, recently, the status of "20171624-Q-456" on the public platform of national standard information service has been changed from "under review" to "under drafting", and the era of legalization of e-cigarettes in China has officially begun.

Next, the issue of e-cigarette taxation is considered to be the focus of the market.

Zhongtai Securities believes that other economies around the world generally believe that e-cigarettes, regardless of whether they contain nicotine or not, are harmful to a certain extent, especially for young people. However, the vast majority of countries do not prohibit the production and sale of e-cigarettes, but adopt the way of "banning in levying" and levying consumption tax to control the negative externalities of e-cigarettes.

Generally speaking, some professionals believe that the settlement of e-cigarette identity is good for the industry, and the decline in profits will wash out some speculators and eventually leave enterprises willing to help the development of the industry. therefore,For companies in all aspects of the e-cigarette industry chain, the survival of the fittest has just begun.

The translation is provided by third-party software.


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