Ispire Technology Expands Into High-Growth Nicotine Pouch Market Through Strategic Joint Venture with Jincheng Pharma
Partnership combines pharmaceutical-grade manufacturing with Ispire's global platform to accelerate entry into one of the fastest-growing nicotine segments
LOS ANGELES, May 12, 2026 /PRNewswire/ -- Ispire Technology Inc. ("Ispire" or the "Company") (NASDAQ: ISPR), a trailblazer in vaping technology and precision dosing, announced that it has entered into a joint venture with Shandong Jincheng Pharmaceutical Group Co., Ltd. (SZSE: 300233) ("Jincheng Pharma"), a global pharmaceutical company, to manufacture and commercialize nicotine pouch products.
The joint venture marks Ispire's entry into the rapidly expanding oral nicotine category, broadening its portfolio beyond vaping hardware and positioning the Company in one of the fastest-growing segments of the global nicotine market. According to Grand View Research, the nicotine pouch market was approximately $7 billion in 2025 and is projected to grow at nearly 25% annually through 2033, potentially exceeding $40 billion.
"This joint venture represents a meaningful strategic expansion for Ispire," said Michael Wang, Co-Chief Executive Officer of Ispire. "Nicotine pouches are a major global growth category, and this partnership enables us to enter the market with immediate operational capability and pharmaceutical-grade manufacturing expertise. Combined with our global distribution and regulatory infrastructure, we believe this positions us to build a significant new revenue stream and further advance our broader nicotine platform strategy."
Under the terms of the agreement, Jincheng Pharma will contribute manufacturing equipment, technical expertise, and nicotine pouch materials, enabling a rapid operational ramp-up and supporting near-term production and commercialization. The joint venture is expected to leverage Ispire's strengths in precision dosing, regulatory compliance, and global distribution to differentiate its nicotine pouch offerings in an increasingly competitive market.
"Ispire's proven manufacturing excellence and global regulatory capabilities accelerate our path to commercialization," said Jiaquan Li, Chairman and President of Jincheng Pharma. "By combining our pharmaceutical expertise and customer relationships with Ispire's operational capabilities, we are well positioned to scale high-quality nicotine pouch production quickly and responsibly."
Jincheng Pharma is a diversified pharmaceutical company with approximately 3,800 employees and more than 30 affiliated companies worldwide. The company is engaged in the research, development, production, and commercialization of pharmaceutical intermediates, active pharmaceutical ingredients (APIs), finished pharmaceutical products, and health-related products.
Jincheng selected Ispire as its partner based on Ispire's reputation for high-quality manufacturing, operational execution, and strong global regulatory compliance infrastructure.
The Company expects initial production to be supported by existing commercial relationships and intends to pursue additional business development opportunities within the oral nicotine segment as part of its broader international nicotine platform strategy.
This expansion builds on Ispire's ongoing efforts to diversify its product portfolio across multiple reduced-risk nicotine formats while leveraging its manufacturing scale, compliance capabilities, and global distribution network.
About Ispire Technology Inc.
Ispire is engaged in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products. The Company's operating subsidiaries own or license more than 400 patents worldwide. Ispire's branded e-cigarette products are marketed under the Aspire name and are sold worldwide (except in the U.S., People's Republic of China and Russia) primarily through its global distribution network. The Company also engages in original design manufacture (ODM) relationships with e-cigarette brands and retailers worldwide. The Company's cannabis products are marketed under the Ispire brand name primarily on an ODM basis to other cannabis vapor companies. Ispire sells its cannabis vaping hardware in the US, Europe and South Africa and it recently commenced marketing activities and customer engagement in Canada and Latin America. For more information, visit www.ispiretechnology.com or follow Ispire on Instagram, LinkedIn, Twitter and YouTube.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: whether the Company may be successful in re-entering the U.S. ENDS market; the approval or rejection of any PMTA submitted by the Company; whether the Company will be successful in its plans to further expand into the African market; whether the Company's joint venture with Touch Point Worldwide Inc. d/b/a/ Berify and Chemular Inc. (the "Joint Venture") may be successful in achieving its goals as currently contemplated, with different terms, or at all; the Joint Venture's ability to innovate in the e-cigarette technology space or develop age gating or age verification technologies for nicotine vaping devices; the Company's ability to collect its accounts receivable in a timely manner; the Company's business strategies; the ability of the Company to market to the Ispire ONE™; Ispire ONE™'s success in meeting its goals; the ability of its customers to derive the anticipated benefits of the Ispire ONE™ and the success of its products on the markets; the Ispire ONE™ proving to be safe; and the risk and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Cautionary Note on Forward-Looking Statements" and the additional risk described in Ispire's Annual Report on Form 10-K for the year ended June 30, 2025 and any subsequent filings which Ispire makes with the SEC. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by applicable law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.
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SOURCE Ispire Technology Inc.
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