SHENZHEN, China, Aug. 16,
2024 /PRNewswire/ -- RLX Technology Inc. ("RLX
Technology" or the "Company") (NYSE: RLX), a leading global branded
e-vapor company, today announced its unaudited financial results
for the second quarter ended June 30, 2024.
Second Quarter 2024 Financial
Highlights
- Net revenues were RMB627.2
million (US$86.3 million) in
the second quarter of 2024, compared with RMB378.1 million in the same period of 2023.
- Gross margin was 25.2% in the second quarter of 2024,
compared with 26.1% in the same period of 2023.
- U.S. GAAP net income was RMB134.9 million (US$18.6
million) in the second quarter of 2024, compared with
RMB204.7 million in the same period
of 2023.
- Non-GAAP net income[1] was
RMB213.1 million (US$29.3 million) in the second quarter of 2024,
compared with RMB86.2 million in the
same period of 2023.
"We delivered a strong second quarter performance as revenue
continued to increase sequentially, driven by our international
business expansion," commented Ms. Ying
(Kate) Wang, Co-founder, Chairperson of the Board of
Directors, and Chief Executive Officer of RLX Technology. "Our deep
exploration of overseas markets and regulations has provided us
with valuable insights into the global e-vapor landscape, enabling
us to create effective, targeted regional strategies. This year,
global regulations are rapidly evolving, with more regulators
recognizing e-vapor products as harm-reduction tools for adult
smokers. Leveraging our broad expertise in regulatory compliance,
we are well-prepared to navigate these changes and ensure a
seamless transition for our users and partners. We remain dedicated
to product innovation as a key driver of user engagement and market
share and are collaborating closely with local partners to
introduce compelling offerings. As a trusted e-vapor brand for
adult smokers, we will continue to deliver high-quality, compliant
products while capitalizing on diverse growth opportunities around
the globe."
Mr. Chao Lu, Chief Financial
Officer of RLX Technology, added, "In the second quarter, our net
revenues reached RMB627.2 million, a
66% year-over-year increase that underscores our ability to capture
growth opportunities in international markets. While our gross
margin declined slightly due to an unfavorable shift in our revenue
mix, disciplined cost management bolstered our non-GAAP operating
profit margins. Looking ahead, we are confident of driving
continued improvement in both our top and bottom lines, fueled by
ongoing revenue growth from international markets and our
relentless focus on operational efficiency. As always, our priority
is to deliver sustainable and profitable returns to our
shareholders."
Second Quarter 2024 Financial Results
Net revenues were RMB627.2 million (US$86.3 million) in the second quarter of
2024, compared with RMB378.1 million
in the same period of 2023. The increase was primarily due to
our international expansion.
Gross profit was RMB157.9 million (US$21.7 million) in the second quarter of 2024,
compared with RMB98.5 million in
the same period of 2023.
Gross margin was 25.2% in the second quarter of
2024, compared with 26.1% in the same period of 2023. The
decrease was primarily due to an unfavorable change in the revenue
mix.
Operating expenses were RMB191.2 million (US$26.3 million) in the second quarter of
2024, compared with RMB47.2 million in the same period of
2023. The increase was primarily due to an increase in share-based
compensation expenses, from positive RMB118.5 million in the second quarter of 2023 to
RMB78.1 million (US$10.8 million) in the second quarter of 2024.
The changes in share-based compensation expenses were primarily due
to the changes in the fair value of the share incentive awards that
the Company granted to its employees with the fluctuations of the
Company's share price.
Selling expenses were RMB62.2 million (US$8.6 million) in the second quarter of 2024,
compared with RMB45.2 million in
the same period of 2023, primarily due to an increase in
share-based compensation expenses.
General and administrative
expenses were RMB129.0 million (US$17.8 million) in the second quarter of
2024, compared with positive RMB41.4 million in the same period of
2023, primarily due to an increase in share-based compensation
expenses.
Research and development expenses were
positive RMB0.04 million (US$0.005
million) in the second quarter of 2024, compared with
RMB43.3 million in the same
period of 2023, primarily due to a decrease in salaries,
welfare benefits and share-based compensation expenses.
Loss from operations was RMB33.3 million (US$4.6 million) in the second quarter
of 2024, compared with income from operations of RMB51.4 million in the same period of
2023.
Income tax expense was RMB21.4 million (US$2.9 million) in the second quarter of
2024, compared with RMB51.5 million in the same period of
2023.
U.S. GAAP net income was
RMB134.9 million (US$18.6 million) in the second quarter of 2024,
compared with RMB204.7 million
in the same period of 2023.
Non-GAAP net income was RMB213.1 million (US$29.3 million) in the second quarter of 2024,
compared with RMB86.2 million in
the same period of 2023.
U.S. GAAP basic and diluted net income per American
depositary share ("ADS") were RMB0.108 (US$0.015) and RMB0.103 (US$0.014), respectively, in
the second quarter of 2024, compared with U.S. GAAP basic and
diluted net income per ADS of RMB0.154 and RMB0.150, respectively, in the same
period of 2023.
Non-GAAP basic and diluted net income per
ADS[2] were RMB0.171 (US$0.024) and RMB0.164 (US$0.023), respectively, in the
second quarter of 2024, compared with non-GAAP basic and diluted
net income per ADS of RMB0.064 and
RMB0.062, respectively, in the same
period of 2023.
Balance Sheet and Cash Flow
As of June 30, 2024, the Company had cash and cash
equivalents, restricted cash, short-term bank deposits, net,
short-term investments, net, long-term bank deposits, net and
long-term investment securities, net of RMB14,930.8 million (US$2,054.5 million), compared with
RMB14,681.4 million as of
March 31, 2024. In the second
quarter of 2024, net cash generated from operating activities was
RMB196.8 million (US$27.1 million).
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on August
16, 2024 (8:00 PM Beijing/Hong
Kong Time on August 16, 2024).
Dial-in details for the earnings conference call are as
follows:
|
United States
(toll-free):
|
+1-888-317-6003
|
|
International:
|
+1-412-317-6061
|
|
Hong Kong, China
(toll-free):
|
+800-963-976
|
|
Hong Kong,
China:
|
+852-5808-1995
|
|
Mainland
China:
|
400-120-6115
|
|
Participant
Code:
|
3613850
|
Participants should dial in 10 minutes before the scheduled
start time and ask to be connected to the call for "RLX Technology
Inc." with the Participant Code as set forth above.
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
https://ir.relxtech.com.
A replay of the conference call will be accessible approximately
two hours after the conclusion of the call until August 23, 2024, by dialing the following
telephone numbers:
|
United
States:
|
+1-877-344-7529
|
|
International:
|
+1-412-317-0088
|
|
Replay Access
Code:
|
9416265
|
About RLX Technology Inc.
RLX Technology Inc. (NYSE: RLX) is a leading global branded
e-vapor company. The Company leverages its strong in-house
technology, product development capabilities and in-depth insights
into adult smokers' needs to develop superior e-vapor products.
For more information, please visit: http://ir.relxtech.com.
Non-GAAP Financial Measures
The Company uses non-GAAP net income and non-GAAP basic and
diluted net income per ADS, each a non-GAAP financial measure, in
evaluating its operating results and for financial and operational
decision-making purposes. Non-GAAP net income represents net income
excluding share-based compensation expenses. Non-GAAP basic and
diluted net income per ADS is computed using non-GAAP net income
attributable to RLX Technology Inc. and the same number of ADSs
used in U.S. GAAP basic and diluted net income per ADS
calculation.
The Company presents these non-GAAP financial measures because
they are used by the management to evaluate its operating
performance and formulate business plans. The Company believes that
they help identify underlying trends in its business that could
otherwise be distorted by the effect of certain expenses that are
included in net income. The Company also believes that the use of
the non-GAAP measures facilitates investors' assessment of its
operating performance, as they could provide useful information
about its operating results, enhances the overall understanding of
its past performance and future prospects and allows for greater
visibility with respect to key metrics used by the management in
its financial and operational decision making.
The non-GAAP financial measures are not defined under U.S. GAAP
and are not presented in accordance with U.S. GAAP. The non-GAAP
financial measures have limitations as analytical tools. They
should not be considered in isolation or construed as an
alternative to net income, basic and diluted net income per ADS or
any other measure of performance or as an indicator of its
operating performance. Investors are encouraged to review its
historical non-GAAP financial measures to the most directly
comparable U.S. GAAP measures. The non-GAAP financial measures here
may not be comparable to similarly titled measures presented by
other companies. Other companies may calculate similarly titled
measures differently, limiting their usefulness as comparative
measures to our data. The Company encourages investors and others
to review its financial information in its entirety and not rely on
any single financial measure.
For more information on the non-GAAP financial measures, please
see the table captioned "Unaudited Reconciliation of GAAP and
non-GAAP Results" set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB
to U.S. dollars and from U.S. dollars to RMB are made at a rate of
RMB 7.2672 to US$1.00, the exchange rate on June 28, 2024,
set forth in the H.10 statistical release of the Federal Reserve
Board. The Company makes no representation that the RMB or U.S.
dollar amounts referred could be converted into U.S. dollars or
RMB, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"may," "will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "is/are likely to," "potential," "continue" and
similar statements. Among other things, quotations from management
in this announcement, as well as the Company's strategic and
operational plans, contain forward- looking statements. The Company
may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including but not limited to statements about the
Company's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's growth strategies; its future business development,
results of operations and financial condition; trends and
competition in global e-vapor market; changes in its revenues and
certain cost or expense items; governmental policies, laws and
regulations across various jurisdictions relating to the Company's
industry, and general economic and business conditions globally and
in China and assumptions
underlying or related to any of the foregoing. Further information
regarding these risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
All information provided in this press release and in the
attachments is current as of the date of this press release, and
the Company does not undertake any obligation to update such
information, except as required under applicable law.
For more information, please contact:
In China:
RLX Technology Inc.
Head of Capital Markets
Sam Tsang
Email: ir@relxtech.com
Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: RLX@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: RLX@tpg-ir.com
|
[1] Non-GAAP net income
is a non-GAAP financial measure. For more information on the
Company's non-GAAP financial measures, please see the section
"Non-GAAP Financial Measures" and the table captioned "Unaudited
Reconciliation of GAAP and Non-GAAP Results" set forth at the end
of this press release.
[2] Non-GAAP basic and
diluted net income per ADS is a non-GAAP financial measure. For
more information on the Company's non-GAAP financial measures,
please see the section "Non-GAAP Financial Measures" and the table
captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results"
set forth at the end of this press release.
|
|
RLX TECHNOLOGY
INC.
|
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(All amounts in
thousands)
|
|
|
|
|
|
As of
|
|
December
31,
|
June
30,
|
June
30,
|
|
2023
|
2024
|
2024
|
|
RMB
|
RMB
|
US$
|
|
ASSETS
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
2,390,298
|
3,076,781
|
423,379
|
|
Restricted
cash
|
29,760
|
61,908
|
8,519
|
|
Short-term bank
deposits, net
|
2,631,256
|
2,615,677
|
359,929
|
|
Receivables from online
payment platforms
|
6,893
|
5,619
|
773
|
|
Short-term investments,
net
|
3,093,133
|
2,604,414
|
358,379
|
|
Accounts and notes
receivable, net
|
60,482
|
114,428
|
15,746
|
|
Inventories
|
144,850
|
84,306
|
11,601
|
|
Amounts due from
related parties
|
118,736
|
196,791
|
27,079
|
|
Prepayments and other
current assets, net
|
508,435
|
709,991
|
97,698
|
|
Total current
assets
|
8,983,843
|
9,469,915
|
1,303,103
|
|
Non-current
assets:
|
|
|
|
|
Property, equipment and
leasehold improvement, net
|
77,358
|
63,192
|
8,696
|
|
Intangible assets,
net
|
69,778
|
60,215
|
8,286
|
|
Long-term investments,
net
|
8,000
|
8,000
|
1,101
|
|
Deferred tax assets,
net
|
58,263
|
58,264
|
8,017
|
|
Right-of-use assets,
net
|
52,562
|
39,604
|
5,450
|
|
Long-term bank
deposits, net
|
1,757,804
|
876,340
|
120,588
|
|
Long-term investment
securities, net
|
5,236,109
|
5,695,667
|
783,750
|
|
Goodwill
|
66,506
|
62,606
|
8,615
|
|
Other non-current
assets, net
|
4,874
|
6,499
|
894
|
|
Total non-current
assets
|
7,331,254
|
6,870,387
|
945,397
|
|
Total
assets
|
16,315,097
|
16,340,302
|
2,248,500
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts and notes
payable
|
266,426
|
323,811
|
44,558
|
|
Contract
liabilities
|
49,586
|
56,908
|
7,831
|
|
Salary and welfare
benefits payable
|
39,256
|
60,048
|
8,263
|
|
Taxes
payable
|
77,164
|
79,197
|
10,898
|
|
Accrued expenses and
other current liabilities
|
103,996
|
99,440
|
13,683
|
|
Amounts due to related
parties
|
101,927
|
10,984
|
1,511
|
|
Dividend
payable
|
881
|
-
|
-
|
|
Lease liabilities -
current portion
|
29,435
|
28,202
|
3,881
|
|
Total current
liabilities
|
668,671
|
658,590
|
90,625
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
Deferred tax
liabilities
|
23,591
|
21,790
|
2,998
|
|
Lease liabilities -
non-current portion
|
24,419
|
13,124
|
1,808
|
|
Total non-current
liabilities
|
48,010
|
34,914
|
4,806
|
|
Total
liabilities
|
716,681
|
693,504
|
95,431
|
|
|
|
|
|
|
|
|
|
Shareholders'
Equity:
|
|
|
|
|
Total RLX Technology
Inc. shareholders' equity
|
15,609,393
|
15,654,233
|
2,154,092
|
|
Noncontrolling
interests
|
(10,977)
|
(7,435)
|
(1,023)
|
|
Total shareholders'
equity
|
15,598,416
|
15,646,798
|
2,153,069
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
16,315,097
|
16,340,302
|
2,248,500
|
|
RLX TECHNOLOGY
INC.
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME
|
|
(All amounts in
thousands, except for share and per share data)
|
|
|
|
|
|
|
|
|
|
|
For the three months
ended
|
|
For the six months
ended
|
|
June
30,
|
March
31,
|
June
30,
|
June
30,
|
|
June
30,
|
June
30,
|
June
30,
|
|
2023
(As
adjusted) (a)
|
2024
|
2024
|
2024
|
|
2023
(As
adjusted) (a)
|
2024
|
2024
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
378,123
|
551,623
|
627,176
|
86,302
|
|
567,000
|
1,178,799
|
162,208
|
|
Cost of
revenues
|
(171,733)
|
(327,610)
|
(400,712)
|
(55,140)
|
|
(250,426)
|
(728,322)
|
(100,220)
|
|
Excise tax on
products
|
(107,853)
|
(81,240)
|
(68,602)
|
(9,440)
|
|
(172,311)
|
(149,842)
|
(20,619)
|
|
Gross
profit
|
98,537
|
142,773
|
157,862
|
21,722
|
|
144,263
|
300,635
|
41,369
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Selling
expenses
|
(45,226)
|
(52,887)
|
(62,235)
|
(8,564)
|
|
(130,987)
|
(115,122)
|
(15,841)
|
|
General and
administrative expenses
|
41,368
|
(109,954)
|
(128,997)
|
(17,751)
|
|
(215,136)
|
(238,951)
|
(32,881)
|
|
Research and
development expenses
|
(43,317)
|
(31,540)
|
40
|
5
|
|
(119,999)
|
(31,500)
|
(4,335)
|
|
Total operating
expenses
|
(47,175)
|
(194,381)
|
(191,192)
|
(26,310)
|
|
(466,122)
|
(385,573)
|
(53,057)
|
|
|
|
|
|
|
|
|
|
|
Income/(loss) from
operations
|
51,362
|
(51,608)
|
(33,330)
|
(4,588)
|
|
(321,859)
|
(84,938)
|
(11,688)
|
|
|
|
|
|
|
|
|
|
|
Other
income：
|
|
|
|
|
|
|
|
|
|
Interest income,
net
|
162,888
|
158,858
|
154,207
|
21,220
|
|
311,691
|
313,065
|
43,079
|
|
Investment
income
|
20,588
|
12,776
|
12,718
|
1,750
|
|
41,973
|
25,494
|
3,508
|
|
Others, net
|
21,380
|
28,943
|
22,739
|
3,129
|
|
150,537
|
51,682
|
7,112
|
|
Income before
income tax
|
256,218
|
148,969
|
156,334
|
21,511
|
|
182,342
|
305,303
|
42,011
|
|
Income tax
expense
|
(51,502)
|
(16,344)
|
(21,389)
|
(2,943)
|
|
(33,931)
|
(37,733)
|
(5,192)
|
|
Net
income
|
204,716
|
132,625
|
134,945
|
18,568
|
|
148,411
|
267,570
|
36,819
|
|
Less: net income
attributable to noncontrolling interests
|
1,929
|
717
|
2,631
|
362
|
|
2,590
|
3,348
|
461
|
|
Net income
attributable to RLX Technology Inc.
|
202,787
|
131,908
|
132,314
|
18,206
|
|
145,821
|
264,222
|
36,358
|
|
Other comprehensive
income:
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
563,078
|
12,706
|
44,174
|
6,078
|
|
414,982
|
56,880
|
7,827
|
|
Unrealized
income/(loss) on long-term investment
securities
|
5,539
|
(13)
|
705
|
97
|
|
8,412
|
692
|
95
|
|
Total other
comprehensive income
|
568,617
|
12,693
|
44,879
|
6,175
|
|
423,394
|
57,572
|
7,922
|
|
Total comprehensive
income
|
773,333
|
145,318
|
179,824
|
24,743
|
|
571,805
|
325,142
|
44,741
|
|
Less: total
comprehensive income attributable to
noncontrolling interests
|
1,929
|
730
|
2,618
|
360
|
|
2,590
|
3,348
|
461
|
|
Total comprehensive
income attributable to RLX
Technology Inc.
|
771,404
|
144,588
|
177,206
|
24,383
|
|
569,215
|
321,794
|
44,280
|
|
|
|
|
|
|
|
|
|
|
Net
income per ordinary share/ADS
|
|
|
|
|
|
|
|
|
|
Basic
|
0.154
|
0.106
|
0.108
|
0.015
|
|
0.111
|
0.213
|
0.029
|
|
Diluted
|
0.150
|
0.101
|
0.103
|
0.014
|
|
0.108
|
0.205
|
0.028
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares/ADSs
|
|
|
|
|
|
|
|
|
|
Basic
|
1,318,628,588
|
1,249,317,641
|
1,228,869,526
|
1,228,869,526
|
|
1,317,718,705
|
1,239,093,583
|
1,239,093,583
|
|
Diluted
|
1,353,296,802
|
1,301,431,007
|
1,284,388,803
|
1,284,388,803
|
|
1,348,021,483
|
1,290,853,297
|
1,290,853,297
|
|
|
Note (a): The Company acquired various companies on
December 13, 2023, which was accounted for as an under common
control transaction in accordance with ASC 805-50. The Company
retrospectively adjusted
the above comparative unaudited condensed
consolidated statements of comprehensive income in the prior
quarter.
|
|
RLX TECHNOLOGY
INC.
|
|
UNAUDITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
|
|
(All amounts in
thousands, except for share and per share data)
|
|
|
|
|
|
|
For the three months
ended
|
|
For the six months
ended
|
|
June
30,
|
March
31,
|
June
30,
|
June
30,
|
|
June
30,
|
June
30,
|
June
30,
|
|
2023
(As adjusted)
(b)
|
2024
|
2024
|
2024
|
|
2023
(As adjusted)
(b)
|
2024
|
2024
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
Net
income
|
204,716
|
132,625
|
134,945
|
18,568
|
|
148,411
|
267,570
|
36,819
|
|
Add: share-based
compensation expenses
|
|
|
|
|
|
|
|
|
|
Selling expenses
|
(15,338)
|
4,603
|
9,172
|
1,262
|
|
8,617
|
13,775
|
1,895
|
|
General and administrative expenses
|
(90,923)
|
66,414
|
93,026
|
12,801
|
|
110,420
|
159,440
|
21,940
|
|
Research and development expenses
|
(12,229)
|
3,881
|
(24,074)
|
(3,313)
|
|
2,425
|
(20,193)
|
(2,779)
|
|
Non-GAAP net
income
|
86,226
|
207,523
|
213,069
|
29,318
|
|
269,873
|
420,592
|
57,875
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to RLX Technology Inc.
|
202,787
|
131,908
|
132,314
|
18,206
|
|
145,821
|
264,222
|
36,358
|
|
Add: share-based
compensation expenses
|
(118,490)
|
74,898
|
78,124
|
10,750
|
|
121,462
|
153,022
|
21,056
|
|
Non-GAAP net income
attributable to RLX
Technology Inc.
|
84,297
|
206,806
|
210,438
|
28,956
|
|
267,283
|
417,244
|
57,414
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
per ordinary share/ADS
|
|
|
|
|
|
|
|
|
|
- Basic
|
0.064
|
0.166
|
0.171
|
0.024
|
|
0.203
|
0.337
|
0.046
|
|
- Diluted
|
0.062
|
0.159
|
0.164
|
0.023
|
|
0.198
|
0.323
|
0.044
|
|
Weighted average
number of ordinary shares/ADSs
|
|
|
|
|
|
|
|
|
|
- Basic
|
1,318,628,588
|
1,249,317,641
|
1,228,869,526
|
1,228,869,526
|
|
1,317,718,705
|
1,239,093,583
|
1,239,093,583
|
|
- Diluted
|
1,353,296,802
|
1,301,431,007
|
1,284,388,803
|
1,284,388,803
|
|
1,348,021,483
|
1,290,853,297
|
1,290,853,297
|
|
|
Note (b): The Company acquired various companies on
December 13, 2023, which was accounted for as an under common
control transaction in accordance with ASC 805-50. The Company
retrospectively adjusted
the above unaudited reconciliation of GAAP and
Non-GAAP results in the prior quarter.
|
|
RLX TECHNOLOGY
INC.
|
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
(All amounts in
thousands)
|
|
|
|
|
|
|
|
|
|
|
For the three months
ended
|
|
For the six
months ended
|
|
June
30,
|
March
31,
|
June
30,
|
June
30,
|
|
June
30,
|
June
30,
|
June
30,
|
|
2023
(As adjusted)
(c)
|
2024
|
2024
|
2024
|
|
2023
(As adjusted)
(c)
|
2024
|
2024
|
|
RMB
|
RMB
|
RMB
|
US$
|
|
RMB
|
RMB
|
US$
|
|
Net cash generated
from/(used in) operating
activities
|
41,339
|
4,020
|
196,764
|
27,076
|
|
(189,347)
|
200,784
|
27,629
|
|
Net cash generated from
investing activities
|
431,683
|
420,665
|
557,132
|
76,664
|
|
813,637
|
977,797
|
134,549
|
|
Net cash used in
financing activities
|
(199,080)
|
(472,885)
|
-
|
-
|
|
(194,734)
|
(472,885)
|
(65,071)
|
|
Effect of foreign
exchange rate changes on cash,
cash
equivalents and restricted cash
|
48,393
|
2,903
|
10,032
|
1,380
|
|
58,802
|
12,935
|
1,780
|
|
Net
increase/(decrease) in cash and cash
equivalents and restricted cash
|
322,335
|
(45,297)
|
763,928
|
105,120
|
|
488,358
|
718,631
|
98,887
|
|
Cash, cash
equivalents and restricted cash at
the
beginning of the period
|
1,455,109
|
2,420,058
|
2,374,761
|
326,778
|
|
1,289,086
|
2,420,058
|
333,011
|
|
Cash, cash
equivalents and restricted cash at
the
end of the period
|
1,777,444
|
2,374,761
|
3,138,689
|
431,898
|
|
1,777,444
|
3,138,689
|
431,898
|
|
|
|
|
|
|
|
|
|
|
Note (c): The Company acquired various companies on
December 13, 2023, which was accounted for as an under common
control transaction in accordance with ASC 805-50. The Company
retrospectively adjusted
the above comparative unaudited condensed
consolidated statements of cash flows in the prior
quarter.
|
View original
content:https://www.prnewswire.com/news-releases/rlx-technology-announces-unaudited-second-quarter-2024-financial-results-302224158.html
SOURCE RLX Technology Inc.