On August 4, BYD Electronics announced that its wholly-owned subsidiary BYD Precision Manufacturing has obtained a tobacco production enterprise license issued by China’s State Tobacco Monopoly Administration.
BYD Electronics said that the company has completed the patent application of a full range of electronic atomization products and the construction of automatic production lines. The company is also integrating its own capabilities such as R&D of new materials, precision molds, and intelligent manufacturing. Today, BYD said that its electronics arm firmly adheres to policies on electronic cigarettes, and is starting production and operations in compliance with laws and regulations.
BYD Electronics is a manufacturing enterprise spun off from BYD and is listed independently on the main board of the Hong Kong Stock Exchange. Its manufacturing foundry spans many fields, such as smartphones, computers, masks, electronic cigarettes and so on.
BYD Electronics has operated in the e-cigarettes field since 2018. It launched the brand logo “BEEM CORE” for ceramic atomizing core technology in 2021.
Smoore currently leads the field of e-cigarettes. According to a Frost & Sullivan report, in 2021, Smoore’s global market share continued to expand to 22.8%, exceeding the sum of the second to fifth place. However, many latecomers have entered the market, such as BYD Electronics, Luxshare Precision and other manufacturing enterprises.
In the first half of 2022, several departments of the Chinese government have successively promulgated the Administration of Electronic Cigarettes and the national standard of electronic cigarettes, which indicates that to engage in the production and business activities of electronic cigarettes, atomizers, nicotine for electronic cigarettes, a production enterprise license should be obtained. As of August 4, more than 130 enterprises have obtained licenses.