Shunhao Co., Ltd.'s Revenue in The First Half Of The Year Increased By 29.98% Year-on-year To 706 Million Yuan, And The New Tobacco Business Was Significantly Reduced.
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Shunhao Co., Ltd.'s revenue in the first half of the year increased by 29.98% year-on-year to 706 million yuan, and the new tobacco business was significantly reduced
The report shows that the company achieved operating income of approximately 706 million yuan during the reporting period, a year-on-year increase of 29.98%. Among them, the company's business in the new tobacco field has shrunk, and the operating income of the new tobacco products business was 2,700,885.54 yuan, accounting for 0.38% of the company's total operating income, a decrease of 30.65% from 3,894,292.16 yuan in the same period last year. The reason may be affected by factors such as changes in the market environment, policy adjustments or company strategy adjustments.
On August 17, Shanghai Shunhao New Materials Technology Co., Ltd. (stock abbreviation: Shunhao Co., Ltd., stock code: 002565,) released its 2024 semi-annual report.
The report shows that the company achieved operating income of approximately RMB 706 million during the reporting period, a year-on-year increase of 29.98%. Among them, the company's business in the new tobacco field has shrunk, and the operating income of the new tobacco products business was RMB 2,700,885.54, accounting for 0.38% of the company's total operating income, a decrease of 30.65% from RMB 3,894,292.16 in the same period last year. This may be due to factors such as changes in the market environment, policy adjustments or company strategy adjustments. The operating income of the e-cigarette project was RMB 4.6662 million, and the total operating income of the industrial hemp project was RMB 83,500.
Business situation during this reporting period | Source: Shunhao Co., Ltd.'s first half performance report
Revenue of each business segment | Source: Shunhao Co., Ltd.'s first half performance report
According to the report, in the field of new tobacco, Shunhao Co., Ltd.'s subsidiary Luxinfeng has obtained the "Tobacco Monopoly Production Enterprise License" for e-cigarette processing enterprises, and its shareholding company Meizhonglian has obtained the "Tobacco Monopoly Production Enterprise License" for e-cigarette product manufacturers, while its subsidiary Shunhao Yilong has obtained the "Tobacco Monopoly Production Enterprise License" for domestic sales of e-cigarette brand holders.
The company said that its subsidiary Shunhao Yilong's "Yilon" brand e-cigarettes have been listed in some retail stores in Beijing, Shenzhen and Shanghai, and will continue to promote the listing of "Yilon" products in many places in the future.
In addition, the company's wholly-owned subsidiary Yunnan Luxin has the "Yunnan Industrial Hemp Processing License", which means that the company has the legal qualifications to process industrial hemp in Qujing City, Yunnan Province. In order to seize the rapid development opportunities of the overseas industrial hemp market, Shunhao Co., Ltd. established a subsidiary Kinneloa Holdings Inc. in the United States and has the legal qualifications to carry out industrial hemp processing and manufacturing related businesses in the United States, and sells them in other legal countries and regions around the world. E1011 Labs, a wholly owned subsidiary of Kinneloa Holdings Inc., has launched the ELON second-generation heat-not-burn device and Stelo heating rod products.
Another wholly owned subsidiary of the company, Vitaldiol Pharmaceutical, has launched the Vitaldiol-R series (Recover, Relief, Rest) products and Essential tinctures for the US market. These products contain CBD, NMN (nicotinamide mononucleotide), turmeric, melatonin and other ingredients, focusing on the concepts of "minimal ingredients" and "natural health".
The report mentioned that the global e-cigarette market is expected to maintain a growth trend. The company said it will continue to increase R&D investment to promote the expansion of the new tobacco industry at home and abroad.
