On May 13, 2026, according to the announcement released by Ispire Technology through PR Newswire, Ispire Technology (NASDAQ: ISPR) announced on May 12 that it has established a strategic joint venture with Shandong Jincheng Pharmaceutical Group Co., Ltd. (SZSE: 300233), to jointly produce and commercialize nicotine pouch products.
Ispire stated that this collaboration marks the company’s official entry into the rapidly-growing oral nicotine market and further expands its new nicotine product portfolio beyond the realm of e-cigarette hardware.
The company stated that this partnership will combine Jin Cheng Pharmaceutical’s pharmaceutical-grade manufacturing capabilities with Ispire’s global regulatory, precise dosage control, and international distribution capabilities.
The nicotine pouch market is regarded as a high-growth sector globally.
Ispire, citing data from Grand View Research, stated that the global nicotine pouch market would be worth approximately 7 billion US dollars by 2025, and it is projected to maintain a growth rate of nearly 25% annually until 2033, with the market size expected to exceed 40 billion US dollars.
Michael Wang, the co-CEO of Ispire, said:
“Nicotine pouches are a significant growth category worldwide. This collaboration enables us to quickly enter the market by leveraging our existing operational capabilities and pharmaceutical-grade manufacturing expertise.”
He stated that by integrating Ispire’s existing global distribution and regulatory infrastructure, the company hopes to establish new revenue streams and advance its broader global nicotine platform strategy.
Jincheng Pharmaceuticals provides manufacturing and raw material support.
According to the agreement, Jincheng Pharmaceuticals will provide the joint venture with manufacturing equipment, technical capabilities, and materials related to nicotine pouches to support rapid mass production and commercialization.
Ispire will offer precise dosage control, global regulatory compliance, and international market distribution capabilities.
Jiaquan Li, the chairman and president of Jin Cheng Pharmaceutical, said:
“Ispire’s mature manufacturing capabilities and global regulatory experience will help us accelerate the commercialization process.”
Public information indicates that Jin Cheng Pharmaceutical has approximately 3,800 employees and over 30 affiliated enterprises. Its business covers pharmaceutical intermediates, raw materials (API), preparations, as well as the research and production of health products.
Ispire continues to promote the diversification of its nicotine business.
Ispire stated that the initial production will be carried out based on existing commercial partnerships, and it plans to further expand business opportunities in the oral nicotine sector.
The company stated that this expansion is part of its ongoing strategy to promote diversified harm-reducing nicotine products.
Ispire is currently engaged in the research, development, production, sales and distribution of electronic cigarettes and cannabis vaporizers, and holds over 400 patents worldwide.
The Aspire brand electronic cigarettes are currently sold mainly in markets outside the United States, China and Russia. They also provide ODM services for global electronic cigarette brands and retailers.