On February 21st, Xiong Stock Co., Ltd. announced that its fully owned subsidiaries, Jinlaite International and Jinlaite Intelligence, have signed an electronic cigarette cooperation contract with NEBULA. Under the agreement, NEBULA will purchase the ML1-ML10 series electronic cigarettes from Jinlaite International, and Jinlaite International will entrust Jinlaite Intelligence with the processing and production of these products. The total value of the contract is no less than 30 million yuan, and it will be valid from February 21st, 2023 to February 20th, 2024.
According to the announcement, the partnership with NEBULA will increase the overseas market share of Jiuzhou Technology's electronic cigarette business. The implementation of the contract will also increase its proportion in the electronic cigarette industry, creating a new point of profit growth and benefiting its long-term development.
It is reported that NEBULA is a Malaysian company established on August 4, 2022, and is 100% owned by individual Yan Kun. In September 2022, NEBULA signed an electronic cigarette procurement contract worth $160,326 with Kingrate Intelligence, which has now been fulfilled.
According to the NEBULA website, their products are primarily sold in Europe and Latin America.
Reference:
Announcement from Guangdong Xiaosong Technology Co., Ltd. Regarding Electronic Cigarette Collaboration Contract Signed by Wholly-Owned Subsidiary
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