Company dynamics

Water pipes the industry is expected to move towards standardisation.

  With the rapid development of the tobacco industry, the global tobacco control movement is also deepening.Tobacco regulation is getting stricter.The tobacco industry has moved from a high-growth stage to a glass pipes controlled and low-profile one.

  Recently, shenzhen has officially put e-cigarettes under tobacco control.Across the ocean, San Francisco was the first city in the United States to ban e-cigarettes.According to incomplete statistics, 42 countries and regions have banned or restricted the use of e-cigarettes in public places.

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  On aug 30 last year, the state administration for market regulation and the state tobacco monopoly administration issued a circular forbidding market entities to sell e-cigarettes to minors in order to protect them from being harmed.

  Undoubtedly, the government's regulatory policy will have a far-reaching impact on the development of the e-cigarette industry.This comes after industry insiders pointed out that the e-cigarette market, like all emerging industries and markets, faces the bio water pipes dilemma of how the public views the product, how the product controls the market, and the level of industry standards and regulation.

  In view of the impact of regulatory policies on a-share e-cigarette listed companies, the layout of the leading enterprises may be the priority to benefit.Guosheng securities research report pointed out that the new tobacco can be divided into electronic tobacco and heating non-combustible (HNB) two major categories.With the advance of supervision, it is expected to accelerate the comprehensive development of the new tobacco industry from disorder to regulation.Compared with small and medium-sized brands, domestic leading e-cigarette and HNB new cigarette listed companies have technology and research and development advantages, will first benefit from industry standardization.

  As e-cigarette products are related to public health, the government will continue to strengthen industry quality supervision and raise the threshold of entry, while recognizing the advantages of e-cigarette as an alternative to cigarettes, so the cost of improving safety for small and medium-sized brands will increase significantly in the future, Great Wall securities said.Products with financial strength, constraints on China's tobacco, leading quality and safety industries will have better development opportunities.

  Guotai junan said that countries in the world have different regulatory policies on glass rose pipes for sale , and China has not yet issued a clear regulatory policy.In the final analysis, the development of the industry is subject to the regulation policies and guidance of the state and the government.The tobacco industry involves multiple stakeholders.If the policy is tightened in the future, it may affect the overall demand and development of the industry, thus affecting the industry performance of industrial chain companies.


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