Electronic cigarette country bidding down, "fruity" goes to the end, industry reconstruction is ongoing

Reporter Huang Shouzhen

On October 1st, the "Electronic Cigarette Mandatory National Standard" ("National standard") will take effect comprehensive. At that time, all participants in the electronic cigarette market must be operated, and the electronic cigarette stores cannot continue to sell electronic cigarettes such as fruits. On September 23, the reporter visited some electronic cigarette stores in Jinan urban area and found that fruit products are seizing the last time to clear. Licensing, but still to face the decline in future shipments and the pressure of industry reconstruction.

Fruit electronic cigarette is about to say goodbye

As October 1 approaches, the fruity electronic cigarette is finally coming to say goodbye, but before the sale is completely banned, the fruit electronic cigarette still has to seize the final timing and rush a wave of sales.

Since September, the operator of electronic cigarettes has posted an announcement in the personal circle of friends, while the electronic cigarette forced the national standard and explained it, and also reminded consumers who want to accumulate fruit flavor products to act as soon as possible.

On the morning of September 23, the reporter saw at an electronic cigarette gathering store in Kaotou Road, Lixia District. The announcement plate at the door significantly identified that the fruit electronic cigarette will be discontinued on September 30. The store has obtained the e -cigarette product tobacco specialty retail license.

Fruit flavored smoke bomb accelerated clearing

Inside the store, the smoke bomb originally formed by consumers has basically withdrawn, and the smoke ammunition sold is limited to some hot flavors. The shop owner told reporters that as the electronic cigarette forced national standards are about to be implemented, the number of consumers who come to accumulate water and fruits have increased significantly. So far, the most consumers have purchased two boxes at one time, totaling 240 pieces, and spending 8,400 yuan. "

Another brand of electronic cigarette shops, which is not far from the store, also came in and out from time to time. The shop owner said that basically three boxes of buying are now starting, and there are not many remaining inventory in the store.

It is worth noting that although the fruit electronic cigarette is about to be banned, some second -tier brands "whistle" has launched a one -time large -capacity product. Taking the small milk cover product as an example, its capacity reaches 15 ml, which is conventional, which is a routine. 7.5 times the cigarette bomb. In some retailers, although these products are short -lived, they can drive sales to the maximum in a short time.

It meets the national standard product quietly on the shelves

According to the provisions of the transition period of electronic cigarette supervision, October 1 this year will be the date of comprehensive effect of "Electronic Cigarette Mandatory National Standards" and the full implementation of electronic cigarette supervision. The management platform only provides national standard tobacco -flavored electronic cigarettes and smoke with children's locks.

During the visit, the reporter noticed that products that meet the new national standard have quietly launched. Taking RELX Yaya as an example, in terms of cigarette rods, it launched the national standard product phantom "Xinghe Dream" atomizer. In terms of smoke bomb, the phantom "Forget the River has 25" and the phantom "Forest Revival Mountain Bake 53" Misty bomb.

According to reports, in addition to changing the appearance of the new cigarette pole, "persuading young people to absorb electronic cigarettes to prohibit elementary and middle school students from sucking electronic cigarettes", "Our company prompts to suck electrical cigarettes. In addition, the biggest difference is the new children's lock function.

"Continuously inserted and pulled the atomizer 3 times in 2 seconds to unlock it. Repeat the same movements to be locked. In the lock state, the atomizer will vibrate to remind the lock state to prevent minors from misuse. "The shop owner said.

Electronic cigarette bullets in the country's target

In addition to the new prompts, the most important thing is that the nicotine content is reduced, which is 2%, while the fruit-flavored smoke nicotine content on the market is mostly 3%-5%. Some consumers said after trying the national standard product that the taste has not changed much from the previous products.

A number of A -share listed companies get a certificate

As the national standard is about to take effect soon, on the production side, the speed of "getting permits" of related companies is also accelerating.

On September 20, the two A -share listed companies successively announced the latest news of electronic cigarette -related businesses. Xiaodong shares have obtained the "Tobacco Monopoly Manufacturers License" (electronic cigarette processing enterprise); Aipu plans to use cash with cash The capital increase method holds licensed enterprises to cut into the electronic cigarette industry.

According to incomplete statistics, there are at least 7 A -share listed companies that have taken the licenses of tobacco monopoly manufacturers, including BYD, Jinjia, Shunzheng, Dongfeng Co., Ltd., Xiaosong, Jinlong Electromechanical, Jincheng Medicine, which involve involves The production, sales, import and export of electronic cigarettes.

As for China's largest electronic smoke oligomatization equipment in Hong Kong stocks, Simo Moore International, and the mother -in -law company of the US stock market, the Misto Core technology of the US stock market, has also "obtained a certificate."

It should be noted that getting a license may be just a new beginning. The restrictions on the taste, additives, and design of the new national standard are more clear and strict, resulting in the reduction of differences between products. In homogeneous products, how to stand out and become an electronic cigarette company to face the next problem.

The institution is still optimistic about the benefit of the head enterprise

For the electronic cigarette market after the new national standard, some people in the industry have previously judged that the return of the electronic cigarette industry to tobacco is inevitable. After banning smoke, the attractiveness of electronic cigarettes to adult users will inevitably decrease, or it will cause the retail volume of electronic cigarettes to decline by 60 %-90%, the shipment decreased by more than 50%-70%. But at the same time, some institutions are also optimistic about the industry's pattern reconstruction on the leading brand. There are electronic cigarette stores that have been closed

The Galaxy Securities Research reports that the policy will increase the threshold of electronic cigarettes and the industry will focus on the head. Policies directly stipulate the relevant parameters of electronic cigarette products, increase product research and development and production difficulty, and eliminate backward enterprises; on the other hand, the policy has limited the electronic cigarette use experience to a certain extent through taste and nicotine content, release volume, etc. Under the restrictions on policy standards, as much as possible to improve the user experience, it depends on whether the enterprise has sufficient research and development technical strength.

At the same time, the policy improves the barriers to industry access, and related companies need to report to the tobacco monopoly administrative department for approval. With the entry of the electronic cigarette industry, the domestic market is expected to expand steadily, and the background of the industry concentration will be fully benefited.

Caitong Securities believes that electronic cigarettes are based on the role of hazard reduction, and the development trend of market demand is clear in the long run. The superior enterprise shares of various industrial links have increased the share of various industrial links, and industrial technological innovation and digital development are encouraged. In the future, leading enterprises in domestic and overseas markets have broad development space. With the increase in R & D investment and product iteration upgrades, it will further consolidate corporate competition barriers, improve promotion Profit.

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