Thursday, May 23, 2024

WinhTech Releases H1 2023 Report with Strong E-cigarette Growth

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On August 25th, Yinghe Technology released its 2023 interim report, revealing that the company’s operating revenue amounted to 4.801 billion yuan, marking a year-on-year increase of 3.84%. The net profit attributable to shareholders of the listed company stood at 298 million yuan, experiencing a growth of 12.81% compared to the same period last year. After deducting non-recurring gains and losses, the net profit attributable to shareholders of the listed company reached 263 million yuan, registering a year-on-year growth of 0.54%. The basic earnings per share amounted to 0.46 yuan.

According to the report, Shenzhen Scowel Technology Co., Ltd., a subsidiary of the company, is engaged in the e-cigarette business. The company primarily focuses on brand operations in the e-cigarette sector, providing customers with e-cigarettes, pods, atomizers, and other e-cigarette accessories. Following the new regulations in the domestic e-cigarette industry, Scowel has obtained the Tobacco Monopoly Administration’s license for tobacco production enterprises and will vigorously develop its own brand operations and actively expand into overseas markets from 2022 onwards.

A report mentioned that in order to further seize opportunities in the European market and promptly respond to customer service needs, the company’s board of directors has approved the establishment of a wholly-owned subsidiary in the United Kingdom, allowing the gradual achievement of the goal of “being based in the UK and radiating throughout Europe,” enabling rapid response to pre-sales and after-sales service needs of the e-cigarette business customers.

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