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新型烟草产品各品类的优缺点比较-行业数据

新型烟草产品各品类的优缺点比较
新型烟草产品各品类的优缺点比较
从产品使用本身而言，电子烟、HNB 和其他新型烟草产品各有优劣与适用场景。各类产品相比于传统卷烟都能有效减少焦油等有害物质，因此减害性是共同的优点。封闭式电子烟具有便携性等优势，HNB 具有接近卷烟的优势，口含尼古丁袋没有吸入带来的对呼吸系统的危害，因此这三类产品在过去 10 年间发展势头最好。
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新型烟草产品各品类的优缺点比较_第1页
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新型烟草产品各品类的优缺点比较_第2页
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新型烟草产品各品类的优缺点比较_第5页
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新型烟草产品各品类的优缺点比较_第6页
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新型烟草产品各品类的优缺点比较_第8页
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新型烟草产品各品类的优缺点比较_第23页
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新型烟草产品各品类的优缺点比较_第24页
新型烟草产品各品类的优缺点比较_第25页
新型烟草产品各品类的优缺点比较_第26页
新型烟草产品各品类的优缺点比较_第27页
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新型烟草产品各品类的优缺点比较_第28页
新型烟草产品各品类的优缺点比较_第29页
新型烟草产品各品类的优缺点比较_第30页
新型烟草产品各品类的优缺点比较_第31页
新型烟草产品各品类的优缺点比较_第32页
新型烟草产品各品类的优缺点比较_第33页
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新型烟草产品各品类的优缺点比较_第34页
新型烟草产品各品类的优缺点比较_第35页
新型烟草产品各品类的优缺点比较_第36页
新型烟草产品各品类的优缺点比较_第37页
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新型烟草产品各品类的优缺点比较_第38页
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新型烟草产品各品类的优缺点比较_第39页
新型烟草产品各品类的优缺点比较_第40页
新型烟草产品各品类的优缺点比较_第41页
新型烟草产品各品类的优缺点比较_第42页
新型烟草产品各品类的优缺点比较_第43页
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新型烟草产品各品类的优缺点比较_第44页
新型烟草产品各品类的优缺点比较_第45页
新型烟草产品各品类的优缺点比较_第46页
新型烟草产品各品类的优缺点比较_第47页
新型烟草产品各品类的优缺点比较_第48页
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新型烟草产品各品类的优缺点比较_第49页
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新型烟草产品各品类的优缺点比较_第50页
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新型烟草产品各品类的优缺点比较_第51页
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新型烟草产品各品类的优缺点比较_第52页
新型烟草产品各品类的优缺点比较_第53页
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新型烟草产品各品类的优缺点比较_第54页
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新型烟草产品各品类的优缺点比较_第55页
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新型烟草产品各品类的优缺点比较_第56页
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新型烟草产品各品类的优缺点比较_第57页
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新型烟草产品各品类的优缺点比较_第58页
新型烟草产品各品类的优缺点比较_第59页
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新型烟草产品各品类的优缺点比较_第60页
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新型烟草产品各品类的优缺点比较_第61页
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
新型烟草产品各品类的优缺点比较_第62页
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
新型烟草产品各品类的优缺点比较_第63页
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
新型烟草产品各品类的优缺点比较_第64页
新型烟草产品各品类的优缺点比较_第65页
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新型烟草产品各品类的优缺点比较_第66页
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新型烟草产品各品类的优缺点比较_第67页
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新型烟草产品各品类的优缺点比较_第68页
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所属报告： 思摩尔国际-港股公司研究报告-雾化业务基本面改善HNB如日初升-250426（35页）.pdf
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