On August 4, BYD Electronics announced that its wholly-owned subsidiary BYD Precision Manufacturing had obtained a tobacco production enterprise license issued by China’s State Tobacco Monopoly Administration.
BYD Electronics said the company has completed the patent application of a full range of electronic atomization products and the construction of automatic production lines. The company also incorporates its own capabilities such as R&D of new materials, precision molds and smart manufacturing. Today, BYD said its electronics branch firmly adheres to e-cigarette policies and starts production and operations in accordance with laws and regulations.
BYD Electronics is a spin-off manufacturing company of BYD and is independently listed on the main board of the Hong Kong Stock Exchange. Its manufacturing foundry covers many fields, such as smartphones, computers, masks, electronic cigarettes, etc.
BYD Electronics has been in the e-cigarette field since 2018. It launched the “BEEM CORE” brand logo for ceramic atomization core technology in 2021.
Smoore is currently a leader in the field of e-cigarettes. According to a Frost & Sullivan report, in 2021, Smoore’s global market share continued to increase to 22.8%, surpassing the sum of second to fifth place. However, many laggards have entered the market, such as BYD Electronics, Luxshare Precision, and other manufacturing companies.
In the first half of 2022, several Chinese government departments successively promulgated the Electronic Cigarette Administration and the National Electronic Cigarette Standard, which indicates that to engage in the production and business activities of electronic cigarettes, atomizers, nicotine for electronic cigarettes, a production business license must be obtained. As of August 4, more than 130 companies had obtained licenses.
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