Business Wire

SMOORE Reports 2021 Annual Revenue of RMB13.75 billion

Share

SMOORE, a global leader in offering vaping technology solutions, has announced its financial results for the year ended 31 December 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220407005547/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

SMOORE reported 2021 annual revenue of RMB13.75 billion, representing a year-on-year increase of approximately 37.4%.

The company also pledged to achieve carbon neutrality in its direct and indirect production and operational activities by 2050, being the first atomization tech company to announce a roadmap to carbon neutrality.

In 2021, the global regulations on the electronic atomization industry have become more stringent, and many countries set higher safety standards for electronic atomization products while SMOORE has still maintained its position as the world’s largest manufacturer of vaping devices. According to Frost and Sullivan report, the company’s market share in the global vaping devices manufacturing field has increased to approximately 22.8% in 2021 from approximately 18.9% in 2020.

With its technological advantages in atomization, SMOORE has continued to empower its global corporate clients. The revenue of corporate client oriented sales firstly exceeded RMB10 billion and reached RMB12.59 billion, representing a strong growth of 37.4% year-on-year, with overseas revenue accounting for over 70% of its corporate client oriented sales in the last half of 2021. It is largely attributed to the company’s flagship closed system vaping tech brand FEELM, which has been widely recognized by leading vaping brands around the world. To date, vaping devices loaded with FEELM atomizer have been exported to 50 countries in Europe, America, East Asia, Africa, and Oceania.

“The driving force of the atomization industry is technological innovation, which brings fundamental breakthroughs in product safety and flavor reproduction,” said Chen Zhiping, Chairman of the Board of SMOORE.

In 2021, SMOORE continued to strengthen its R&D investment. The total research and development expenses was over RMB670 million, representing an increase of approximately 59.7% over the previous year.

SMOORE has developed a comprehensive safety assessment system, so as to help its clients comply with standards of different markets. For example, SMOORE has built up China’s first corporate one-stop risk assessment laboratory for the European Union TPD (Tobacco Products Directive) compliance, to help clients meet EU vaping market entry requirements. It can generate test reports within 5 working days.

Furthermore, SMOORE has built up and put into operation 7 fundamental research centers in China and the U.S. As of 31 December 2021, SMOORE has a total of 1254 R&D experts, and 101 of them have doctoral degrees or above. The number of the company’s accumulative patent applications is 3408, involving temperature control, heating element, leakage-proof technology and e-liquid storage; and the number of new patent applications in 2021 was 1,187 globally.

During the Review Period, SMOORE also introduced the latest generation of production line, realizing the fully automated production of assembly, e-liquid injection, and packaging. Now, the single-line production efficiency has reached 7,200 standard vaporizers per hour, maintaining the industry’s leading position in manufacturing. The fully automated production line has been used by FEELM’s clients on a large scale.

According to the Frost and Sullivan Report, the global market size of vaping devices is expected to grow at a compound growth rate of approximately 25.3% at ex-factory price from 2022 to 2026. Global consumers are expecting products with improved safety, more authentic flavor reproduction and powerful functions, to satisfy their diversified needs.

Therefore, FEELM introduced the world’s first ceramic coil disposable pod solution in 2021. FEELM will launch more disposable vaping products in overseas markets in 2022 to further strengthen its product portfolio.

Moreover, in January 2022, FEELM has showcased the world’s thinnest ceramic coil vape pod solution, FEELM Air in London. Widely recognized by FEELM’s strategic partners, FEELM Air features 7 major breakthroughs in vaping experience, including harm reduction, flavor reproduction and leakage-proof performance. “FEELM Air is going to be firstly launched in overseas markets,” said Frank Han, President of FEELM and Vice President of SMOORE. “Currently, FEELM is working with global clients on the regional deployment and promotion of FEELM Air.”

At SMOORE 2021 Annual Performance Conference, Qiu Lingyun, Vice President of SMOORE said that the U.S and China have successively implemented flavor ban on e-cigarettes, and SMOORE has already prepared technical solutions for tobacco flavors in accordance with the U.S regulations for about a year, prior to the exposure draft of Chinese national standards of e-cigarettes coming into force. So, SMOORE is confident to support its clients in getting through the transitional period of regulations.

Moreover, disposable vapes have shown strong growth momentum in recent years. According to Qiu Lingyun, SMOORE has developed integrated solutions to the heating element, e-liquid and temperature zone of disposable vapes, in a bid to diversify its product portfolio. Thus, SMOORE has been ready to launch successful disposable products in international markets soon.

In 2022, SMOORE and its flagship tech brand FEELM are expected to partner with more tobacco companies and leading vaping brands, and adopt latest vaping solutions, such as FEELM Air and disposable pods, to existing clients.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Frankie Chen
Email: frankie.chen@smoorecig.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Starr Insurance Companies Expands in Thailand17.5.2022 22:33:00 CEST | Press release

Starr Insurance Companies (Starr) announced an agreement with FPG Insurance Holdings Limited (HK) (FPG) and local Thai shareholders to purchase FPG Insurance Public Company Limited (FPG Thailand), a Thai non-life insurance company, together with local Thai parties. Starr’s investment will be held by its Bermuda insurance company, Starr Insurance & Reinsurance Limited. The transaction is expected to close in the second quarter of 2022, subject to certain customary closing conditions, including any necessary regulatory approvals. “Thailand is an important, fast-growing insurance market — one of the cornerstones of the Southeast Asia economy,” said Maurice R. Greenberg, Starr’s Chairman & CEO. “Asia is both commercially and culturally important to Starr, as we trace our roots to an American-owned company founded in Shanghai more than 100 years ago. We look forward to serving the needs of local Thai companies and consumers through this new insurance capability.” David Zuellig, FPG regional

Emendo Biotherapeutics’ next generation CRISPR gene editing technologies achieve breakthrough results with allele-specific approach for ELANE -related Severe Congenital Neutropenia as presented at ASGCT Annual Meeting17.5.2022 22:15:00 CEST | Press release

Emendo Biotherapeutics presented the results of its next generation CRISPR-based gene editing approaches for several indications in an oral presentation and three posters at the 25th Annual Meeting of the American Society of Gene & Cell Therapy (ASGCT) held May 16-19, 2022, in Washington, D.C. Emendo presented pre-clinical data for the treatment of ELANE-related Severe Congenital Neutropenia using an allele-specific editing approach, demonstrating the power of Emendo’s dual technology platforms that enable the development of a highly specific editing composition that demonstrates no off-targets and complete allele specificity. Significantly, the lack of off-target achieved by Emendo’s engineered and optimized OMNI nuclease also eliminated any translocations. Edited patient derived CD34+ cells differentiated normally into neutrophils both in-vitro and in-vivo, showing full engraftment and reconstitution of all blood lineages, as required for the desired therapeutic effect. “ELANE-based

Piper Sandler Advises PETRONAS Chemicals Group Berhad on Acquisition of Perstorp17.5.2022 19:59:00 CEST | Press release

Piper Sandler & Co. chemicals investment banking announced today that it has advised PETRONAS Chemicals Group Berhad (PCG) on its acquisition of Perstorp Holding AB. The transaction Enterprise Value is €2,300 million and base purchase price, less adjusted net debt, is €1,538 million. It is expected to close in Q3 2022 subject to customary closing conditions. PCG is the leading integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. It operates a number of world-class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of 12.8 million metric tons per annum (mtpa), it is involved primarily in manufacturing, marketing, and selling a diversified range of chemical products, including olefins, polymers, fertilizers, methanol and other basic chemicals and derivative products. Listed on Bursa Malaysia in 2010 and with more than three decades of experience in the chemicals indust

Morinaga Milk Obtains the Registration of "New Food Ingredient" in China for Use of Its Probiotic Bifidobacterium longum BB536 in Infant and Toddler Foods17.5.2022 19:53:00 CEST | Press release

Morinaga Milk Industry Co., Ltd. (TOKYO:2264), a leading Japanese dairy product company, today announced its proprietary probiotic Bifidobacterium longum BB536 was approved by the National Health Commission (NHC) of the People’s Republic of China as a new food ingredient for use in infant and toddler foods (under the age of three) on 11th May 2022. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220517005112/en/ Morinaga Milk obtains the registration of "New Food Ingredient" in China for use of its probiotic Bifidobacterium longum BB536 in infant and toddler foods on 11th May 2022. (Graphic: Business Wire) Following a complex and lengthy registration process, the probiotic strain B. longum BB536 meets the highest standards of safety and regulatory compliance and has now completed the approval process for use as an ingredient in infant and toddler milk and food products for children under three years old in China. “We are extr

Hiro Capital Joins Knollwood and Boost VC With Major Investment in Skybound Entertainment17.5.2022 19:30:00 CEST | Press release

Hiro Capital has invested in Skybound Entertainment in a significant, undisclosed round led by Knollwood Advisory with participation from Boost VC, and follow-on participation from Com2uS and Skydance Entertainment. Skybound Entertainment is home to acclaimed franchises including The Walking Dead, Invincible, and Impact Winter. “There is nothing more powerful than storytelling, and I’m delighted that Hiro has been able to invest in Skybound Entertainment, creators and curators of extremely compelling omniverses,” said Sir Ian Livingstone, Co-Founding Partner of Hiro Capital. “Hiro’s trust in our vision will help us accelerate the evolution of existing hit franchises as well as new content for our fan base around the world,” said Skybound CEO David Alpert. Skybound brings together creators across its multi-faceted business, including comics, interactive games, audio, film, and television (traditional and digital platforms), licensing, and merchandising. Skybound has successfully franchi