In 2021, the growth rate of the new tobacco market will return to the rising channel after the epidemic. In 2021, the global sales volume of new tobacco will reach 54.57 billion US dollars, and the year-on-year growth rate will reach 30.0% in the context of the gradual control of the global epidemic. The supervision of various countries has been continuously improved, and the FDA's approval speed has been accelerated. In the past few months, the FDA has successively approved 23 electronic cigarette products of brands such as Japan Tobacco Logic, NJOY, British American Tobacco Vuse Solo, Vibe and Ciro. Domestic: Supply-side reform is in progress, and e-cigarette production licenses are being issued one after another.

With the successive clarification of domestic and foreign supervision, it will effectively push up the industry threshold and increase the concentration, which will benefit the upstream and downstream leading enterprises in the industry, and the industry is expected to enter a new stage of compliance development. 1) Atomization industry chain: Key recommendation - Smol International (the world's leading manufacturer of atomization equipment); recommended attention: Fog Core Technology, Jincheng Pharmaceutical, Rundu Co., Ltd. 2) Tobacco supply chain: It is recommended to pay attention to: China Tobacco Hong Kong, Jinjia Co., Ltd., Huabao International, China Bolton, Jiyou Co., Ltd., Shunhao Co., Ltd., Dongfeng Co., Ltd.