China's state-owned tobacco behemoth is booming, defying global trends and anti-smoking efforts [CNBC]
Philip Morris International Inc (PM)
Last philip morris international inc earnings: 4/21 06:59 am
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Source: CNBC
According to researchers and anti-smoking advocates the company has been able to grow thanks to favorable policies and connections with regulators. The company is also increasingly working to make inroads in new international markets. China is bucking global smoking trends as cigarette sales surge in the country, powered by “the biggest tobacco company most people have never heard of .” The China National Tobacco Corporation, commonly known as China Tobacco, has a near monopoly on China's tobacco product sales , which has seen the state-owned company grow into the largest cigarette producer in the world despite its relative obscurity abroad. Retail cigarette sales in China have been growing for the past 4 years, reaching 2.44 trillion sticks in 2023, data from Euromonitor showed. The research group forecasts that sales will continue to increase annually, hitting 2.48 trillion by 2028 Euromonitor added that growth has coincided with the increasing popularity of “slim” cigare
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PM
Earnings
- 10/22/24 - Beat
PM
Sec Filings
- 11/21/24 - Form 8-K
- 11/12/24 - Form 25-NSE
- 11/8/24 - Form 4
- PM's page on the SEC website