SHENZHEN, China, July 1, 2021 /CNW/ -- The parent company behind globally renowned vaping brand VAPORESSO, SMOORE International Holdings (HKG:6969), has officially been listed on Forbes 2021 Global 2000. The list ranks the world's largest 2000 public companies, with the 2021 edition providing a close look at how some of the world's most prolific businesses adapted to the COVID-19 pandemic. SMOORE is the only vaping technology company to make the Forbes 2021 Global 2000 list.
Taking a snapshot of the world of business, the Forbes Global 2000 list measures companies using four equally weighted metrics: assets, market value, sales, and profits. SMOORE International appearing on the list gives credibility to both the company and the emerging vaping industry. This recognition is a reflection of the company's performance throughout 2020 and growth in market share from 16.5% in 2019 to 18.9%.
As the first vaping-focused company to IPO, SMOORE's placement on the list confirms the legitimacy of the entire industry as a fast-growing and better alternative to cigarettes with an expected compound annual growth rate (CAGR) of 28.1% from 2021 to 2028. Driven to innovate, the company has over 1000 technology patents and more employees in R&D than sales, leading the vaping industry since 2009. These cutting-edge innovations are then worked into marketable products by Smoore's sub-brands including Vaporesso, FEELM Lab and CCELL to be distributed around the world. Also, SMOORE is proactively promoting atomization technology to other industries around the world.
As a public facing brand under Smoore, VAPORESSO is committed to helping its vast network of international partners abroad and, driven by a strong sense of social responsibility, launched a series of campaigns aimed at helping those most affected. Under the umbrella of VAPORESSO Care, these campaigns helped affected communities in Indonesia where VAPORESSO donated over 70 million rupiah and France where VAPORESSO worked with local partners to distribute food to needy people over Christmas.
Supported by parent company, R&D giant SMOORE International, Vaporesso has been setting new industry standards and further driving innovation in this emerging industry with many more to come.
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