On August 25th, Yinghe Technology unveiled its 2023 interim financial report, showcasing a strong performance in the e-cigarette sector. The report highlights a notable increase in the company’s operating revenue, reaching 4.801 billion yuan, up by 3.84% year-on-year. Notably, the net profit attributable to shareholders surged by 12.81%, amounting to 298 million yuan.
Strategic Advances in E-Cigarette Business
Shenzhen Scowel Technology Co., Ltd., a subsidiary focused on e-cigarettes, is making significant strides under Yinghe Technology’s umbrella. In response to new domestic regulations, Scowel has secured a Tobacco Monopoly Administration license for tobacco production, paving the way for robust brand operations and overseas expansion starting from 2022.
Expanding Footprint in Europe
As part of its strategy to tap into the European market more effectively, Yinghe Technology’s board has greenlit the establishment of a wholly-owned subsidiary in the United Kingdom. This move aims to solidify the company’s presence in the UK and extend its reach across Europe, enhancing both pre-sales and after-sales services to meet rapidly evolving customer service needs.
