Core Insights - The article highlights the emergence of Zhuhai's Qisi Smart Park as a significant contributor to the local economy, particularly in the electronic cigarette industry, under the leadership of Zhang Shengwei, a prominent figure in the sector [1][2][5]. Group 1: Company Overview - Qisi Smart Park, operated by Zhuhai Qisi Intelligent Manufacturing Co., is a subsidiary of the electronic cigarette manufacturer Geekna, providing comprehensive OEM/ODM services [1][2]. - Zhang Shengwei, known for his role in the electronic cigarette market, has successfully developed popular brands such as GEEKVAPE and ELF BAR, contributing to the global electronic cigarette landscape [2][11]. Group 2: Economic Impact - The Qisi Smart Park has quickly become a "pillar" of Zhuhai High-tech Zone, with its operations significantly boosting local employment and tax revenues [3][4][5]. - In 2024, the industrial output value of Zhuhai High-tech Zone is projected to exceed 60 billion yuan, with a remarkable 46.8% year-on-year growth in high-tech manufacturing value added in the first quarter of 2025 [4][5]. Group 3: Market Dynamics - The electronic cigarette market in China is characterized by rapid growth, with Geekna and its brands capturing substantial market shares internationally, particularly in the U.S. [6][12]. - Despite regulatory challenges, Geekna's products have gained significant traction, with GEEK BAR and RAZ accounting for 25.1% of the U.S. electronic cigarette market as of April 2023, showcasing impressive growth rates of 729.2% and 232.6% respectively [6][7]. Group 4: Strategic Development - Zhang Shengwei's strategy includes building manufacturing capabilities to meet innovation demands and ensure quality control, positioning Qisi Smart Park as a key strategic asset for Geekna [13][14]. - The park is designed to have a monthly production capacity of 10 million units, reflecting a significant investment exceeding 1 billion yuan and covering over 220,000 square meters [12][13]. Group 5: Industry Challenges - The electronic cigarette industry faces increasing regulatory scrutiny, with potential bans on disposable e-cigarettes in various countries, prompting companies to adopt sustainable practices and enhance compliance [15][16]. - Zhang Shengwei's companies are beginning to disclose ESG reports, indicating a shift towards regulatory compliance and sustainable business practices to mitigate legal risks [15][16].

Core Viewpoint - The article highlights the rapid growth and significant impact of the electronic cigarette industry in Zhuhai, particularly through the establishment of the Qisi Smart Park, which has become a major taxpayer and employment provider in the region, driven by the success of companies like Geek Miracle and its subsidiaries [2][6][20]. Group 1: Industry Overview - The electronic cigarette industry is described as one of the most profitable businesses globally, with Chinese brands dominating the market [1][7]. - Zhuhai's Qisi Smart Park, operated by Qisi Intelligent Manufacturing Co., has quickly become a key contributor to the local economy, employing around 10,000 people within a year and a half of its establishment [6][20]. - The park is part of a broader trend of industrial migration from Shenzhen to Zhuhai, indicating the ongoing industrial expansion in the Pearl River Delta region [5][6]. Group 2: Company Insights - Geek Miracle, formed by the merger of two major brands, achieved a combined revenue of 11.4 billion yuan in 2024, surpassing the leading electronic cigarette company, Smoore International [9][19]. - The company has a diverse product portfolio, including popular brands like GEEKVAPE and ELF BAR, which have captured significant market shares in various countries [7][20]. - Zhang Shengwei, the founder, is recognized for his strategic approach to international markets, focusing on innovation and quality control to maintain competitiveness [18][21]. Group 3: Market Dynamics - The article notes that despite regulatory challenges in the U.S. and other markets, Geek Miracle's products have maintained a strong presence, with GEEK BAR and RAZ capturing 25.1% of the U.S. market [8][9]. - The electronic cigarette market has seen a consolidation trend, with the top five companies holding approximately 90% of the market share [9][19]. - Zhang Shengwei's strategy includes creating multiple brands to mitigate risks associated with regulatory changes, allowing for flexibility in market positioning [20][22]. Group 4: Future Outlook - The establishment of the Qisi Smart Park is viewed as a milestone for both the local economy and Geek Miracle, with plans for significant production capacity and technological advancements [18][19]. - The company is also focusing on sustainability and compliance with regulations, indicating a shift towards a more responsible business model in response to increasing scrutiny [22].