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Smoore Chairman Chen Zhipeng Debuts On China’s 100 Richest List With $9.8 Billion Fortune



The growing global popularity of vaping helped create one of the highest-ranking newcomers to this year’s list. Smoore International Holdings Chairman and CEO Chen Zhiping, 44, debuts at No. 47 with a fortune of $9.55 billion as Smoore’s shares have roughly tripled from its IPO price following its July listing in Hong Kong.

Founded in 2009, Smoore supplies vaping devices and components to a range of customers that includes China e-cigarette maker RELX and U.S. competitor NJOY, as well as British American Tobacco, Japan Tobacco and R.J. Reynolds Tobacco.

Nearly half of its sales are from mainland China and Hong Kong, with about a fifth from the U.S. Smoore earned 2.1 billion yuan last year ($300 million) as sales more than doubled from 2018, to 7.6 billion yuan.

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