Everwin Precision is a JUUL supplier now – Everwin semi-annual report reveals
According to Global Wealth Network, Everwin Precision (300115.SZ) disclosed in its semi-annual report in 2019 that it had obtained the supplier qualification of JUUL Labs, an international electronic cigarette company.
According to public information, Juul Labs is the largest e-cig company in the United States, accounting for nearly three-quarters of the U.S. vape market, and sales increased by 800% in 2018. Altria, Marlboro’s parent company, announced a 35% stake in Juul Labs in 2018, making the company valued at $38 billion.
Shenzhen Everwin Precision Technology Co., Ltd., formerly known as Shenzhen Furuikang Precision Hardware Co., Ltd., was established on July 17, 2001. Its main business is the production and sales of precision hardware die parts. In December 2003, it was renamed Shenzhen Everwin Precision Technology Co., Ltd. In May 2008, the company was changed into a joint stock company.
It is understood that Shenzhen Everwin Precision Technology Co., Ltd. is a state-level high-tech enterprise specializing in the development, design, manufacture and sale of mobile phone accessories, LED precision brackets and precision moulds, with a total assets of more than 400 million yuan.
Everwin has gathered a number of technical elites in the industry, and has a strong technological development strength. It has a full range of imported production equipment and test instruments for precision die manufacturing, high-speed precision stamping, precision plastic forming and automatic production equipment development of precision connectors. It has passed ISO and other testing system certification, and has a number of independent product patents.
The global analysis shows that Everwin Precision can successfully enter the supply chain of Juul Labs, an international e-cigarette giant, indicating that the company is expected to share the “cake” of the huge e-cigarette market in the United States and even the world in the future. At the same time, the name of “Juul Labs Supplier” is expected to help Everwin Precision receive more orders from e-cigarette companies in other fields.
In terms of market distribution, the United States is the largest consumer of electronic cigarettes in the world, accounting for 48.2% of global sales of electronic cigarettes, followed by the United Kingdom and Italy, accounting for 13.7% and 7.2% of global sales of electronic cigarettes, respectively. Although China is the world’s largest producer of e-cigarettes, producing more than 90% of the world’s e-cigarettes, its products are mainly exported, and domestic e-cigarette consumption accounts for only about 6% of the global market share.
However, this also means that China’s e-cigarette market has the greatest growth potential, because China has 300 million smokers, ranking first in the world. According to the report of Guanyan World, the penetration rate of electronic cigarettes in China is less than 1% by 2017. If the penetration rate reaches 10% in the future, the corresponding market scale may reach 100 billion.
Facing the attractive electronic cigarette market, China’s capital is also moving. Major capitals have invested in the field of electronic cigarettes. Creative ventures such as Smartisan Technology Luo Yonghao, Source Capital, IDG, Cowincapital and Zhen Fund have also entered the electronic cigarette industry this year. According to incomplete statistics, the total financing of electronic cigarette industry in the first half of 2019 exceeded 1 billion yuan. Electronic cigarette has become a new storm eye in the consumer electronics industry.