Shenzhen Vape 13 Companies Listed On The Top 500 Enterprises

Thirteen vape companies and their related supporting enterprises have been shortlisted for this year’s Shenzhen Top 500 Enterprises list.

On October 30, 2025, the Shenzhen Enterprise Federation and Shenzhen Entrepreneurs Association (referred to as “Shenzhen Enterprise Federation”) officially released the “2025 Shenzhen Top 500 Enterprises List”, which is ranked based on the company’s operating income in 2024.

Among them, FirstUnion has the largest increase, rising 57 places and ranking 190th. In addition, Relx rose 48 places to 303rd place, Aspire rose 15 places to 433rd place, and Smoore although slightly declining, still remained in the top 125, ranking first among the listed vape companies.

Enterprises with rising rankings:

1. FirstUnion has risen 57 places to 190th place (with the largest increase and has been ranked higher for two consecutive years. And be rised 62 places in last year from number 309); Always great vape manufacturer in China.
2. Relx rose 48 places to 303rd place;
3. Aspire rose 15 places to 433rd place. Traditional vape factory in china.

Companies with declining rankings:

Seven companies have experienced a decline in their rankings, namely:
1. Smoore slightly down 2 places to 125th place, still remains the industry leader.
2. Jinjia Group (vape brand Foogo) dropped 72 places to 294th place (with the largest decline). Jinjia Group is the top brand of cigarette packaging in China, one of the standard setters in the cigarette label industry, and a comprehensive service solution provider for cigarette packaging in China,
3. Boton Group (vape brand Ammo) down 53 places to 364th place. Ammo vape is an vape brand owned by Boton Group, the first listed enterprise in China’s essence and fragrance industry. Its products cover vape products, electronic fumigators, tobacco oils, vape accessories and other varieties.
4. ALD vape. dropped 38 places to 386th place. Famous CBD vape manufacturer.
5. HQD vape dropped 78 places to 472nd place.
6. Zinwi Biotech dropped 4 places to 492nd place. Top e-liquid manufacturer in China.
7. Yinghe Tech (vape brand SKE) dropped 7 places to 134th place. A world-class provider of lithium battery equipment and vape products. A great of the companies providing intelligent digital factory solutions for lithium batteries.

Newly listed companies:

There are a total of three vape companies that were listed in 2025. They were not in 2024.
1. Oxva 375th place.
3. Smok tech 410th place.
3. Maikexiongdu (Smoore subsidiary company) 473rd place.

Companies that were not included in the list:

Compared to the 2024 list, there are three vape companies that did not continue to make it to the 2025 Shenzhen Top 500 list.
1. Geekvape
2. Innokin vape
3. VooPoo vape

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