WI: East India Company keeps its monopoly on trade with China

Does the First Opium War still happen if the East India Company remains the only legal British company that can trade with Qing China?

Does the EIC try to fight China on itself? Can it win?
 
Additionally, this also works if the opium at Guangzhou is destroyed 10 or 15 years earlier. The latter, before the Treaty of Yandabo, might have interesting repercussions for Burmese involvement on the Chinese side.
 
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