"Now selling 120 yuan, you have to come early for 20 minutes, or the original price is sold." On the morning of November 1st, a salesperson of an electronic cigarette store in Xidan asked the Chinese Securities News reporter after consulting the latest quotation information of the two pleasing cigarette bullet products. The reporter visited that day and found that some stores were motionless and did not raise prices.

People in the industry said that the price of electronic cigarette brands is imperative. In the short term, consumption tax may affect the profitability of electronic cigarette manufacturing enterprises and brand enterprises, but in the medium and long -term favorable head enterprises to increase market share.

Price increase

The reporter learned that in the early morning of November 1st, the national unified electronic cigarette transaction management platform updated the tax wholesale price and recommended retail price of national standard products, which changed a lot.

The three departments of the Ministry of Finance have recently issued an electronic cigarette to levy the consumption tax announcement and officially took effect on November 1. Electronic cigarettes are calculated from the price setting rate. The tax rate of the production (import) link is 36%, and the tax rate of the wholesale link is 11%.

According to relevant regulations, electronic cigarettes refer to electronic transmission systems used to produce gas -solid -solids for people, including electronic cigarette products sold by cigarette bombs, smoke and smoke and smoke and smoke. Smoke bomb refers to an electronic cigarette component containing atomized. Smoke utensils refer to an electronic device that treats atomization as an inhaled gas solution.

Electronic cigarette stores adjust product prices in a timely manner. The above two pleasing cigarette bullet products are examples. Both the price increase was 99 yuan, and the current price of 120 yuan was calculated, up 21.21%; and the latest quotation given by the store was 129 yuan, an increase of 30.3%. The price of electronic tobacco utensils has also changed. A pleasant smoke that originally sold for 278 yuan is now selling 328 yuan, rising 17.99%.

However, the reporter visited a number of electronic cigarette stores that sold multiple brands at the same time on the morning of November 1st and found that the price of Xuejia's brand has not been adjusted.

In addition, even the same brand of electronic cigarette products, the price increase time of the store has not been synchronized. "Today's preferential activities have stopped, and the latest offer may be issued at night. (Original price) is the last day." On the morning of November 1st, the sales staff was right in the Haraxin Electronic cigarette store located in Dongdan Xintiandi Mall. The reporter said, "The purchase price has also increased."

As for the adjustment of terminal retail prices, electronic cigarette stores need to consider comprehensive consideration. On the evening of November 1, the reporter received a reply when consulting the customer service as a consumer: "As long as it is a clear price, and in accordance with the regulations of the relevant departments, the retail price of the national standard products will be formulated by the retailer according to their own operation. Suggested retail price."

Divide cost pressure

According to relevant regulations, units and individuals who produce (imported) and wholesale electronic cigarettes are taxpayers for electronic cigarettes.

Industry insiders said that brands such as Yuejun and Xuejia will be consumer taxpayers, but all aspects of the electronic smoke industry chain will share cost pressure through re -pricing and other methods. The specific degree of responsibility depends on their respective bargaining capabilities and bearing capabilities. This is affected by factors such as cost advantages, market position, technical advantages, and brand power.

Zheng Rong, director of the World Health Organization Tobacco Control and Economic Policy Cooperation Center, and professor at the University of Foreign Economic and Trade, said in an interview that price increases are not simply a passage of cost. It is not as much as a tax burden, and the wholesale price will rise. It is necessary to consider multiple factors. "One is the position of the enterprise in the market, and the other is the right to speak in the supply chain."

The research report of Soochow Securities predicts that the tax burden will be jointly borne by the end -end channel and brand side of the electronic cigarettes. From the perspective of terminal channels, the gross profit margin of traditional cigarette terminal channels is about 15%, and the current gross profit margin of the e-cigarette terminal channel is about 50%-60%, and the latter has a high premium. From the perspective of the brand, under the current regulatory system, the leading brand has obvious advantages and still has a high bargaining power. To ensure the enthusiasm of the terminal channel.

The gross margin performance of subsequent electronic cigarette companies will be the indicator of the market highly. In the first half of this year, the gross profit margin of global atomizer manufacturer Simo International was 47.86%, and the gross profit margin of electronic cigarette brands was 41.41%.

Industry insiders said that for electronic cigarette companies with a high proportion of overseas business revenue, consumption tax is relatively small. According to relevant regulations, taxpayers export electronic cigarettes and apply export refund (exemption) tax policies. At the same time, the electronic cigarettes are listed to the tax exemption list and levy tax on imported goods to the border cities.