Ispire Technology enters nicotine pouch market via JV

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.