Business Wire

SMOORE Reports 2021 Annual Revenue of RMB13.75 billion

Share

SMOORE, a global leader in offering vaping technology solutions, has announced its financial results for the year ended 31 December 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220407005547/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

SMOORE reported 2021 annual revenue of RMB13.75 billion, representing a year-on-year increase of approximately 37.4%.

The company also pledged to achieve carbon neutrality in its direct and indirect production and operational activities by 2050, being the first atomization tech company to announce a roadmap to carbon neutrality.

In 2021, the global regulations on the electronic atomization industry have become more stringent, and many countries set higher safety standards for electronic atomization products while SMOORE has still maintained its position as the world’s largest manufacturer of vaping devices. According to Frost and Sullivan report, the company’s market share in the global vaping devices manufacturing field has increased to approximately 22.8% in 2021 from approximately 18.9% in 2020.

With its technological advantages in atomization, SMOORE has continued to empower its global corporate clients. The revenue of corporate client oriented sales firstly exceeded RMB10 billion and reached RMB12.59 billion, representing a strong growth of 37.4% year-on-year, with overseas revenue accounting for over 70% of its corporate client oriented sales in the last half of 2021. It is largely attributed to the company’s flagship closed system vaping tech brand FEELM, which has been widely recognized by leading vaping brands around the world. To date, vaping devices loaded with FEELM atomizer have been exported to 50 countries in Europe, America, East Asia, Africa, and Oceania.

“The driving force of the atomization industry is technological innovation, which brings fundamental breakthroughs in product safety and flavor reproduction,” said Chen Zhiping, Chairman of the Board of SMOORE.

In 2021, SMOORE continued to strengthen its R&D investment. The total research and development expenses was over RMB670 million, representing an increase of approximately 59.7% over the previous year.

SMOORE has developed a comprehensive safety assessment system, so as to help its clients comply with standards of different markets. For example, SMOORE has built up China’s first corporate one-stop risk assessment laboratory for the European Union TPD (Tobacco Products Directive) compliance, to help clients meet EU vaping market entry requirements. It can generate test reports within 5 working days.

Furthermore, SMOORE has built up and put into operation 7 fundamental research centers in China and the U.S. As of 31 December 2021, SMOORE has a total of 1254 R&D experts, and 101 of them have doctoral degrees or above. The number of the company’s accumulative patent applications is 3408, involving temperature control, heating element, leakage-proof technology and e-liquid storage; and the number of new patent applications in 2021 was 1,187 globally.

During the Review Period, SMOORE also introduced the latest generation of production line, realizing the fully automated production of assembly, e-liquid injection, and packaging. Now, the single-line production efficiency has reached 7,200 standard vaporizers per hour, maintaining the industry’s leading position in manufacturing. The fully automated production line has been used by FEELM’s clients on a large scale.

According to the Frost and Sullivan Report, the global market size of vaping devices is expected to grow at a compound growth rate of approximately 25.3% at ex-factory price from 2022 to 2026. Global consumers are expecting products with improved safety, more authentic flavor reproduction and powerful functions, to satisfy their diversified needs.

Therefore, FEELM introduced the world’s first ceramic coil disposable pod solution in 2021. FEELM will launch more disposable vaping products in overseas markets in 2022 to further strengthen its product portfolio.

Moreover, in January 2022, FEELM has showcased the world’s thinnest ceramic coil vape pod solution, FEELM Air in London. Widely recognized by FEELM’s strategic partners, FEELM Air features 7 major breakthroughs in vaping experience, including harm reduction, flavor reproduction and leakage-proof performance. “FEELM Air is going to be firstly launched in overseas markets,” said Frank Han, President of FEELM and Vice President of SMOORE. “Currently, FEELM is working with global clients on the regional deployment and promotion of FEELM Air.”

At SMOORE 2021 Annual Performance Conference, Qiu Lingyun, Vice President of SMOORE said that the U.S and China have successively implemented flavor ban on e-cigarettes, and SMOORE has already prepared technical solutions for tobacco flavors in accordance with the U.S regulations for about a year, prior to the exposure draft of Chinese national standards of e-cigarettes coming into force. So, SMOORE is confident to support its clients in getting through the transitional period of regulations.

Moreover, disposable vapes have shown strong growth momentum in recent years. According to Qiu Lingyun, SMOORE has developed integrated solutions to the heating element, e-liquid and temperature zone of disposable vapes, in a bid to diversify its product portfolio. Thus, SMOORE has been ready to launch successful disposable products in international markets soon.

In 2022, SMOORE and its flagship tech brand FEELM are expected to partner with more tobacco companies and leading vaping brands, and adopt latest vaping solutions, such as FEELM Air and disposable pods, to existing clients.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Frankie Chen
Email: frankie.chen@smoorecig.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

New Study from UK’s Largest Virtual ADHD Service Validates Role of Objective Testing in Delivering Personalized, High-Quality Remote ADHD Care10.5.2025 13:45:00 EEST | Press release

As demand for virtual ADHD care increases, findings from a new study conducted with ADHD 360, the UK’s largest evidence-based digital service specializing in ADHD diagnosis and treatment, reveal how objective ADHD diagnostic and monitoring technology improves patient outcomes and clinical certainty. Presented at the 2025 ADHD World Congress in Prague, Czech Republic, the findings highlight the role of QbCheck, Qbtech’s remote testing solution, in enabling clinicians to make more confident, data-informed decisions, supporting a more personalized and collaborative care model. The tool allows for greater clarity when assessing symptoms and adjusting treatment plans over time, ensuring diagnostic accuracy and helping to improve alignment between clinicians and patients throughout the care journey. The results from ADHD 360’s implementation of this model showcase how a standardized approach to virtual ADHD care improves clinician confidence, reduces wait times, and enhances patient engageme

Ant International Partners with Barclays on Global Treasury Management with Proprietary AI-Powered FX Model9.5.2025 16:57:00 EEST | Press release

Ant International has entered a partnership with leading UK bank Barclays to enhance efficiency and resilience in global treasury management for businesses. Under the partnership, the two sides will combine innovative solutions, including Ant’s proprietary Time-Series Transformer (TST) AI FX Model, to help businesses reduce FX-related costs and risks against global volatilities. At the initial stage of the collaboration, Ant International has successfully completed the first batch of its intra-group FX transactions with Barclays. Ant International’s TST Model is a transformer architecture-based big data model with close to 2 billion parameters. By integrating the latest time series forecasting algorithms, the TST Model predicts patterns over time. Ant also created new pre-training and Supervised Fine-Tuning (SFT) frameworks to train the model and improve its predictions over time. The TST Model now forecasts the company's cashflow and FX exposure on an hourly, daily and weekly basis, w

Monument Re Transfers €1.4bn Greycastle Portfolio to RGA and Strengthens European Life Insurance Consolidation Platform9.5.2025 15:00:00 EEST | Press release

Monument Re Limited (“Monument”) announces today that it has transferred a legacy €1.4bn reinsurance portfolio, comprising annuity and other life insurance liabilities acquired as part of the 2020 Greycastle transaction, to RGA Americas Reinsurance Company, Ltd. (“RGA”). This transaction releases capital resources that Monument will redirect to its core strategy of consolidation in European life insurance markets. The transaction completed on 2May 2025 following approval by the Boards of Directors of both Monument and RGA and non-objection from the Bermuda Monetary Authority. Monument has taken significant steps in recent months to strengthen its business operations by consolidating its European group support functions in Dublin and by aligning with the recently strengthened regulatory regime in Bermuda. With its strong financial position and best in class capabilities in the Group, Monument remains ideally positioned to build on its success to date and grow its European footprint, del

IFF Completes Divestiture of Nitrocellulose Business9.5.2025 15:00:00 EEST | Press release

IFF (NYSE: IFF) today announced that it has completed the divestiture of its nitrocellulose business, including Walsrode Industrial Park in lower Saxony, Germany, to Czechoslovak Group (CSG). The business manufactures nitrocellulose strictly for industrial purposes, serving customers primarily in coatings and printing inks, and had been part of IFF’s Pharma Solutions business unit. “The divestiture of our nitrocellulose business builds upon our deleveraging journey and enables us to focus on our core businesses,” said Erik Fyrwald, IFF CEO. “I’d like to thank our nitrocellulose colleagues for their dedication and wish them continued success as part of CSG.” Welcome to IFF At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, food ingredients, health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience.Le

CPAC Systems AB Announces Strategic Minority Investment in Flying Fish9.5.2025 13:33:00 EEST | Press release

CPAC Systems AB, a leader in advanced control systems and embedded vessel and commercial vehicle technology, today announced a strategic minority investment in Flying Fish Maritime Innovations B.V., a pioneer in advanced shared water mobility solutions and robust, cost-effective hydrofoil technology. The investment underscores both companies’ commitment to redefining water-based transportation through innovation, sustainability, and seamless integration. It marks the beginning of a deeper collaboration aimed at enabling smarter, cleaner, and more connected mobility on the water — for both recreational and commercial applications. “We are thrilled to support Flying Fish and their impressive work in redefining water mobility,"saidMarcus Wingolf, CEO of CPAC Systems. "Our investment in Flying Fish represents a strategic alignment of our technical proficiencies and innovative ambitions. This partnership opens exciting new possibilities for integration and sustainable transformation across

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye