Jinjia Group Exits Yunshuo, Boosts Mofee Cigarette Sales Overseas

Nov.25.2024

Jinjia Group announced a strategic adjustment to its new tobacco segment, stating it no longer holds equity in Yunnan Sparking Science and Technology. The company's heated cigarette brand, Mofee, has reported strong sales in Southeast Asia and the Middle East, with plans to intensify market expansion efforts.

On November 25th, an investor on the investor interaction platform inquired about Jinjia Group Shares (002191.SZ) regarding the company's plans to divest from its stake in Yunnan Sparking Science and Technology, as well as the global sales status of its proprietary brands Weiyue and mofee e-cigarettes before the end of the year.

In response, Jinjia Company stated that in order to improve resource utilization efficiency, the company is adjusting and optimizing its strategy for the new tobacco sector. The company no longer holds shares in Yunnan Sparking Science and Technology. In the future, the company will flexibly adjust its market strategy within compliance regulations, focus on the domestic OEM market, strive to stabilize and expand its customer base through customized services, actively expand its international business layout, explore new international markets and partners, and discover and create new growth points.

In regards to the sales of the company's proprietary brand of heated tobacco products, mofee, the company has stated that sales in Southeast Asia and the Middle East regions have been strong. Moving forward, the company plans to increase efforts in market expansion by actively exploring new sales channels, strengthening partnerships with local markets, and striving to further enhance brand influence and market share on the current foundation.

References:

[1] 劲嘉年底前退出参股的云南云烁公司，是基于电子烟产业键布局的什么考虑

[2] 贵司威悦及mofee等自有品牌电子烟在全球实际销售情况如何？

Also Read:

[1] Jinjia Corporation releases financial report for Q3 2024

[2] Top 100 Industry Leading Companies in Shenzhen for 2024

[3] Impact and Development Plan of E-cigarette Business of Jingjia, Post-Revision

[4] Jingjia's Overseas Market Layout Strategy and Development Plan

[5] Jinjia 2024 Mid-Year Report: Revenue Plummets 27% to 1.484 Billion Yuan, New Tobacco Business Declines 70%

#Asia #Market #China #Heated tobacco products

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