UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of
November, 2024
Commission File Number:
001-39902
RLX Technology Inc.
35/F, Pearl International Financial Center
No. 9 Jian’an First Road, Financial Street
Third District, Bao’an District
Shenzhen, Guangdong Province 518101
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form
40-F ¨
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
| |
RLX Technology Inc. |
| |
|
|
|
| |
By |
: |
/s/ Chao Lu |
| |
Name: |
: |
Chao Lu |
| |
Title: |
: |
Chief Financial Officer |
Date: November 15, 2024
Exhibit 99.1
RLX Technology Announces Unaudited Third Quarter
2024 Financial Results
SHENZHEN, November 15, 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 third quarter ended September 30, 2024.
Third Quarter 2024 Financial
Highlights
| · | Net
revenues were RMB756.3 million (US$107.8 million) in the third quarter of 2024, compared
with RMB498.9 million in the same period of 2023. |
| · | Gross
margin was 27.2% in the third quarter of 2024, compared with 24.1% in the same period
of 2023. |
| · | U.S.
GAAP net income was RMB169.4 million (US$24.1 million) in the third quarter of 2024,
compared with RMB176.6 million in the same period of 2023. |
| · | Non-GAAP
net income1 was RMB261.9 million (US$37.3 million) in the third quarter of
2024, compared with RMB201.4 million in the same period of 2023. |
"We delivered another strong performance
in the third quarter of 2024, showcasing our ability to consistently excel in diverse markets despite rapidly evolving trends and regulations,"
commented Ms. Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors, and Chief Executive Officer of RLX Technology.
"Our efficient, adaptable localization strategies have empowered us to establish market leadership in multiple countries by cultivating
strong product-market alignment and building solid relationships with local distributors and retailers. Furthermore, our broad offering
of premium, reliable cartridge-based products and growing selection of disposables and open-system products have earned the loyalty of
adult smokers worldwide. As a trusted e-vapor brand for adult smokers, we remain committed to creating innovative, high-quality products
in line with shifting trends and regulations, meeting users' needs while driving RLX’s long-term growth."
Mr. Chao Lu, Chief Financial Officer
of RLX Technology, added, "Our robust third quarter results were led by a 51.6% year-over-year increase in net revenues to RMB756.3
million, underscoring the success of our internationalization efforts. Our gross margin also improved year over year, expanding 3.1 percentage
points to 27.2%, thanks to a favorable shift in our revenue mix and our effective cost optimization initiatives. Notably, we maintained
stable non-GAAP operating expenses while rapidly growing revenue, highlighting our operational leverage. We are also excited to continue
returning value to our shareholders with our second cash dividend since our IPO while also executing our share repurchase program. Going
forward, we will remain dedicated to pursuing development opportunities that deliver sustainable, growing profits and enhance returns
for our shareholders."
Third Quarter 2024 Financial Results
Net revenues were RMB756.3 million
(US$107.8 million) in the third quarter of 2024, compared with RMB498.9 million in the same period of 2023. The increase was primarily
due to our international expansion.
Gross profit was RMB206.0 million
(US$29.4 million) in the third quarter of 2024, compared with RMB120.0 million in the same period of 2023.
Gross margin was 27.2% in the
third quarter of 2024, compared with 24.1% in the same period of 2023. The increase was primarily due to a favorable change in the revenue
mix and the cost optimization efforts.
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.
Operating
expenses were RMB216.6 million (US$30.9 million) in the third quarter of 2024, compared with RMB154.4 million in the same period
of 2023. The increase was primarily due to the fluctuation of share-based compensation expenses, from RMB24.8 million in the third quarter
of 2023 to RMB92.5 million (US$13.2 million) in the third 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 in line with the fluctuations
in the Company's share price.
Selling expenses were RMB69.0
million (US$9.8 million) in the third quarter of 2024, compared with RMB44.8 million in the same period of 2023, primarily due to an
increase in share-based compensation expenses and branding expenses.
General and administrative expenses
were RMB123.2 million (US$17.6 million) in the third quarter of 2024, compared with RMB78.8 million in the same period of 2023, primarily
due to an increase in share-based compensation expenses.
Research and development expenses
were RMB24.4 million (US$3.5 million) in the third quarter of 2024, compared with RMB30.8 million in the same period of 2023, primarily
due to a decrease in salaries, welfare benefits and depreciation and amortization expenses, slightly offset by an increase in share-based
compensation expenses.
Loss from operations was RMB10.7
million (US$1.5 million) in the third quarter of 2024, compared with RMB34.3 million in the same period of 2023.
Income tax expense was RMB30.4
million (US$4.3 million) in the third quarter of 2024, compared with RMB1.7 million in the same period of 2023.
U.S. GAAP net income was RMB169.4
million (US$24.1 million) in the third quarter of 2024, compared with RMB176.6 million in the same period of 2023.
Non-GAAP net income was RMB261.9
million (US$37.3 million) in the third quarter of 2024, compared with RMB201.4 million in the same period of 2023.
U.S. GAAP basic and diluted net income
per American depositary share ("ADS") were RMB0.135 (US$0.019) and RMB0.129 (US$0.018), respectively, in the third quarter
of 2024, compared with U.S. GAAP basic and diluted net income per ADS of RMB0.133 and RMB0.130, respectively, in the same period of 2023.
Non-GAAP basic and diluted net income
per ADS2 were RMB0.211 (US$0.030) and RMB0.200 (US$0.029), respectively, in the third quarter of 2024, compared with non-GAAP
basic and diluted net income per ADS of RMB0.152 and RMB0.149, respectively, in the same period of 2023.
Balance Sheet and Cash Flow
As of September 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 RMB15,361.7 million (US$2,189.0 million), compared with RMB14,930.8 million as of June 30,
2024. In the third quarter of 2024, net cash generated from operating
activities was RMB156.6 million (US$22.3 million).
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.
Dividend Payment
The Company announced that its Board
of Directors approved a cash dividend of US$0.01 per ordinary share, or US$0.01 per ADS, to holders of ordinary shares and holders of
ADSs, respectively, as of the close of business on December 6, 2024 Beijing/Hong Kong Time and New York Time, respectively, payable
in U.S. dollars. The payment date is expected to be on or around December 13, 2024 and on or around December 20, 2024 for holders
of ordinary shares and holders of ADSs, respectively.
Conference Call
The Company's management will host an
earnings conference call at 7:00 AM U.S. Eastern Time on November 15, 2024 (8:00 PM Beijing/Hong Kong Time on November 15,
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: | 6222824 |
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 November 22, 2024, by dialing the following telephone
numbers:
| United States: |
+1-877-344-7529 |
| International: |
+1-412-317-0088 |
| Replay Access Code: |
7489030 |
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 RMB7.0176 to US$1.00, the exchange rate on September 30,
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
RLX TECHNOLOGY INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands)
| | |
As of | |
| | |
December 31,
2023 | | |
September 30,
2024 | | |
September 30,
2024 | |
| | |
RMB | | |
RMB | | |
US$ | |
| ASSETS | |
| | | |
| | | |
| | |
| Current assets: | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 2,390,298 | | |
| 3,255,500 | | |
| 463,905 | |
| Restricted cash | |
| 29,760 | | |
| 58,265 | | |
| 8,303 | |
| Short-term bank deposits, net | |
| 2,631,256 | | |
| 2,602,887 | | |
| 370,908 | |
| Receivables from online payment platforms | |
| 6,893 | | |
| 5,357 | | |
| 763 | |
| Short-term investments | |
| 3,093,133 | | |
| 2,199,658 | | |
| 313,449 | |
| Accounts and notes receivable, net | |
| 60,482 | | |
| 121,939 | | |
| 17,376 | |
| Inventories | |
| 144,850 | | |
| 81,432 | | |
| 11,604 | |
| Amounts due from related parties | |
| 118,736 | | |
| 248,762 | | |
| 35,448 | |
| Prepayments and other current assets, net | |
| 508,435 | | |
| 299,409 | | |
| 42,666 | |
| Total current assets | |
| 8,983,843 | | |
| 8,873,209 | | |
| 1,264,422 | |
| Non-current assets: | |
| | | |
| | | |
| | |
| Property, equipment and leasehold improvement, net | |
| 77,358 | | |
| 56,998 | | |
| 8,122 | |
| Intangible assets, net | |
| 69,778 | | |
| 59,156 | | |
| 8,430 | |
| Long-term investments, net | |
| 8,000 | | |
| 8,000 | | |
| 1,140 | |
| Deferred tax assets, net | |
| 58,263 | | |
| 58,262 | | |
| 8,302 | |
| Right-of-use assets, net | |
| 52,562 | | |
| 31,304 | | |
| 4,461 | |
| Long-term bank deposits, net | |
| 1,757,804 | | |
| 1,022,279 | | |
| 145,674 | |
| Long-term investment securities, net | |
| 5,236,109 | | |
| 6,223,159 | | |
| 886,791 | |
| Goodwill | |
| 66,506 | | |
| 64,528 | | |
| 9,195 | |
| Other non-current assets, net | |
| 4,874 | | |
| 5,632 | | |
| 803 | |
| Total non-current assets | |
| 7,331,254 | | |
| 7,529,318 | | |
| 1,072,918 | |
| Total assets | |
| 16,315,097 | | |
| 16,402,527 | | |
| 2,337,340 | |
| | |
| | | |
| | | |
| | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | | |
| | |
| Accounts and notes payable | |
| 266,426 | | |
| 352,403 | | |
| 50,217 | |
| Contract liabilities | |
| 49,586 | | |
| 24,508 | | |
| 3,492 | |
| Salary and welfare benefits payable | |
| 39,256 | | |
| 75,047 | | |
| 10,694 | |
| Taxes payable | |
| 77,164 | | |
| 127,526 | | |
| 18,172 | |
| Accrued expenses and other current liabilities | |
| 103,996 | | |
| 107,771 | | |
| 15,357 | |
| Amounts due to related parties | |
| 101,927 | | |
| 10,380 | | |
| 1,479 | |
| Dividend payable | |
| 881 | | |
| - | | |
| - | |
| Lease liabilities - current portion | |
| 29,435 | | |
| 16,710 | | |
| 2,381 | |
| Total current liabilities | |
| 668,671 | | |
| 714,345 | | |
| 101,792 | |
| | |
| | | |
| | | |
| | |
| Non-current liabilities: | |
| | | |
| | | |
| | |
| Deferred tax liabilities | |
| 23,591 | | |
| 21,757 | | |
| 3,100 | |
| Lease liabilities - non-current portion | |
| 24,419 | | |
| 7,136 | | |
| 1,017 | |
| Total non-current liabilities | |
| 48,010 | | |
| 28,893 | | |
| 4,117 | |
| Total liabilities | |
| 716,681 | | |
| 743,238 | | |
| 105,909 | |
| | |
| | | |
| | | |
| | |
| Shareholders' Equity: | |
| | | |
| | | |
| | |
| Total RLX Technology Inc. shareholders' equity | |
| 15,609,393 | | |
| 15,662,993 | | |
| 2,231,959 | |
| Noncontrolling interests | |
| (10,977 | ) | |
| (3,704 | ) | |
| (528 | ) |
| Total shareholders' equity | |
| 15,598,416 | | |
| 15,659,289 | | |
| 2,231,431 | |
| |
| | | |
| | | |
| | |
| Total liabilities and shareholders' equity | |
| 16,315,097 | | |
| 16,402,527 | | |
| 2,337,340 | |
RLX TECHNOLOGY INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
(All amounts in thousands, except for share and per share data)
| | |
For
the three months ended | | |
For
the nine months ended | |
| | |
September 30, | | |
| | |
| | |
| | |
September 30, | | |
| | |
| |
| | |
2023
(As adjusted) (a) | | |
June 30,
2024 | | |
September 30,
2024 | | |
September 30,
2024 | | |
2023
(As adjusted) (a) | | |
September 30,
2024 | | |
September 30,
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Net
revenues | |
| 498,929 | | |
| 627,176 | | |
| 756,288 | | |
| 107,770 | | |
| 1,065,929 | | |
| 1,935,087 | | |
| 275,748 | |
| Cost of
revenues | |
| (278,578 | ) | |
| (400,712 | ) | |
| (473,379 | ) | |
| (67,456 | ) | |
| (529,004 | ) | |
| (1,201,701 | ) | |
| (171,241 | ) |
| Excise
tax on products | |
| (100,313 | ) | |
| (68,602 | ) | |
| (76,933 | ) | |
| (10,963 | ) | |
| (272,624 | ) | |
| (226,775 | ) | |
| (32,315 | ) |
| Gross
profit | |
| 120,038 | | |
| 157,862 | | |
| 205,976 | | |
| 29,351 | | |
| 264,301 | | |
| 506,611 | | |
| 72,192 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating
expenses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Selling
expenses | |
| (44,751 | ) | |
| (62,235 | ) | |
| (68,975 | ) | |
| (9,829 | ) | |
| (175,738 | ) | |
| (184,097 | ) | |
| (26,234 | ) |
| General
and administrative expenses | |
| (78,849 | ) | |
| (128,997 | ) | |
| (123,226 | ) | |
| (17,560 | ) | |
| (293,985 | ) | |
| (362,177 | ) | |
| (51,610 | ) |
| Research
and development expenses | |
| (30,783 | ) | |
| 40 | | |
| (24,435 | ) | |
| (3,482 | ) | |
| (150,782 | ) | |
| (55,935 | ) | |
| (7,971 | ) |
| Total
operating expenses | |
| (154,383 | ) | |
| (191,192 | ) | |
| (216,636 | ) | |
| (30,871 | ) | |
| (620,505 | ) | |
| (602,209 | ) | |
| (85,815 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Loss
from operations | |
| (34,345 | ) | |
| (33,330 | ) | |
| (10,660 | ) | |
| (1,520 | ) | |
| (356,204 | ) | |
| (95,598 | ) | |
| (13,623 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Other
income： | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Interest
income, net | |
| 158,260 | | |
| 154,207 | | |
| 156,659 | | |
| 22,324 | | |
| 469,951 | | |
| 469,724 | | |
| 66,935 | |
| Investment
income | |
| 21,028 | | |
| 12,718 | | |
| 13,070 | | |
| 1,862 | | |
| 63,001 | | |
| 38,564 | | |
| 5,495 | |
| Others,
net | |
| 33,412 | | |
| 22,739 | | |
| 40,745 | | |
| 5,806 | | |
| 183,949 | | |
| 92,427 | | |
| 13,171 | |
| Income
before income tax | |
| 178,355 | | |
| 156,334 | | |
| 199,814 | | |
| 28,472 | | |
| 360,697 | | |
| 505,117 | | |
| 71,978 | |
| Income
tax expense | |
| (1,746 | ) | |
| (21,389 | ) | |
| (30,423 | ) | |
| (4,335 | ) | |
| (35,677 | ) | |
| (68,156 | ) | |
| (9,712 | ) |
| Net
income | |
| 176,609 | | |
| 134,945 | | |
| 169,391 | | |
| 24,137 | | |
| 325,020 | | |
| 436,961 | | |
| 62,266 | |
| Less:
net income attributable to noncontrolling interests | |
| 1,579 | | |
| 2,631 | | |
| 3,737 | | |
| 532 | | |
| 4,169 | | |
| 7,085 | | |
| 1,010 | |
| Net
income attributable to RLX Technology Inc. | |
| 175,030 | | |
| 132,314 | | |
| 165,654 | | |
| 23,605 | | |
| 320,851 | | |
| 429,876 | | |
| 61,256 | |
| Other
comprehensive (loss)/income: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Foreign
currency translation adjustments | |
| (83,978 | ) | |
| 44,174 | | |
| (181,148 | ) | |
| (25,813 | ) | |
| 331,004 | | |
| (124,268 | ) | |
| (17,708 | ) |
| Unrealized
income on long-term investment securities | |
| 3,508 | | |
| 705 | | |
| 5,292 | | |
| 754 | | |
| 11,920 | | |
| 5,984 | | |
| 853 | |
| Total
other comprehensive (loss)/income | |
| (80,470 | ) | |
| 44,879 | | |
| (175,856 | ) | |
| (25,059 | ) | |
| 342,924 | | |
| (118,284 | ) | |
| (16,855 | ) |
| Total
comprehensive income/(loss) | |
| 96,139 | | |
| 179,824 | | |
| (6,465 | ) | |
| (922 | ) | |
| 667,944 | | |
| 318,677 | | |
| 45,411 | |
| Less:
total comprehensive income attributable to noncontrolling interests | |
| 1,579 | | |
| 2,618 | | |
| 3,730 | | |
| 531 | | |
| 4,169 | | |
| 7,078 | | |
| 1,010 | |
| Total
comprehensive income/(loss) attributable to RLX Technology Inc. | |
| 94,560 | | |
| 177,206 | | |
| (10,195 | ) | |
| (1,453 | ) | |
| 663,775 | | |
| 311,599 | | |
| 44,401 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
income per ordinary share/ADS | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 0.133 | | |
| 0.108 | | |
| 0.135 | | |
| 0.019 | | |
| 0.244 | | |
| 0.348 | | |
| 0.050 | |
| Diluted | |
| 0.130 | | |
| 0.103 | | |
| 0.129 | | |
| 0.018 | | |
| 0.239 | | |
| 0.333 | | |
| 0.047 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted
average number of ordinary shares/ADSs | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 1,316,452,743 | | |
| 1,228,869,526 | | |
| 1,225,417,517 | | |
| 1,225,417,517 | | |
| 1,317,292,081 | | |
| 1,234,501,619 | | |
| 1,234,501,619 | |
| Diluted | |
| 1,344,359,144 | | |
| 1,284,388,803 | | |
| 1,287,927,444 | | |
| 1,287,927,444 | | |
| 1,344,018,578 | | |
| 1,289,831,349 | | |
| 1,289,831,349 | |
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/(loss) in the prior quarter and prior nine months
period.
RLX TECHNOLOGY INC.
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP
RESULTS
(All amounts in thousands, except for share
and per share data, or otherwise noted)
| | |
For
the three months ended | | |
For
the nine months ended | |
| | |
September 30,
2023
(As adjusted) (b) | | |
June 30,
2024 | | |
September 30,
2024 | | |
September 30,
2024 | | |
September 30,
2023
(As adjusted) (b) | | |
September 30,
2024 | | |
September 30,
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Net income | |
| 176,609 | | |
| 134,945 | | |
| 169,391 | | |
| 24,137 | | |
| 325,020 | | |
| 436,961 | | |
| 62,266 | |
| Add: share-based compensation
expenses | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Selling
expenses | |
| (4,045 | ) | |
| 9,172 | | |
| 5,768 | | |
| 822 | | |
| 4,571 | | |
| 19,543 | | |
| 2,785 | |
| General
and administrative expenses | |
| 29,771 | | |
| 93,026 | | |
| 85,295 | | |
| 12,154 | | |
| 140,190 | | |
| 244,735 | | |
| 34,874 | |
| Research
and development expenses | |
| (936 | ) | |
| (24,074 | ) | |
| 1,446 | | |
| 206 | | |
| 1,490 | | |
| (18,747 | ) | |
| (2,671 | ) |
| Non-GAAP
net income | |
| 201,399 | | |
| 213,069 | | |
| 261,900 | | |
| 37,319 | | |
| 471,271 | | |
| 682,492 | | |
| 97,254 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
income attributable to RLX Technology Inc. | |
| 175,030 | | |
| 132,314 | | |
| 165,654 | | |
| 23,605 | | |
| 320,851 | | |
| 429,876 | | |
| 61,256 | |
| Add:
share-based compensation expenses | |
| 24,790 | | |
| 78,124 | | |
| 92,509 | | |
| 13,182 | | |
| 146,251 | | |
| 245,531 | | |
| 34,988 | |
| Non-GAAP
net income attributable to RLX Technology Inc. | |
| 199,820 | | |
| 210,438 | | |
| 258,163 | | |
| 36,787 | | |
| 467,102 | | |
| 675,407 | | |
| 96,244 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP
net income per ordinary share/ADS | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| - Basic | |
| 0.152 | | |
| 0.171 | | |
| 0.211 | | |
| 0.030 | | |
| 0.355 | | |
| 0.547 | | |
| 0.078 | |
| - Diluted | |
| 0.149 | | |
| 0.164 | | |
| 0.200 | | |
| 0.029 | | |
| 0.348 | | |
| 0.524 | | |
| 0.075 | |
| Weighted
average number of ordinary shares/ADSs | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| - Basic | |
| 1,316,452,743 | | |
| 1,228,869,526 | | |
| 1,225,417,517 | | |
| 1,225,417,517 | | |
| 1,317,292,081 | | |
| 1,234,501,619 | | |
| 1,234,501,619 | |
| - Diluted | |
| 1,344,359,144 | | |
| 1,284,388,803 | | |
| 1,287,927,444 | | |
| 1,287,927,444 | | |
| 1,344,018,578 | | |
| 1,289,831,349 | | |
| 1,289,831,349 | |
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 and prior nine months period.
RLX TECHNOLOGY INC.
UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(All amounts in thousands)
| |
|
For the
three months ended |
|
|
For the
nine months ended |
|
| |
|
September 30,
2023
(As adjusted) (c) |
|
|
June 30,
2024 |
|
|
September 30,
2024 |
|
|
September 30,
2024 |
|
|
September 30,
2023
(As adjusted) (c) |
|
|
September 30,
2024 |
|
|
September 30,
2024 |
|
| |
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
| Net
cash generated from/(used in) operating activities |
|
|
82,853 |
|
|
|
196,764 |
|
|
|
156,554 |
|
|
|
22,309 |
|
|
|
(106,494 |
) |
|
|
357,338 |
|
|
|
50,920 |
|
| Net
cash generated from investing activities |
|
|
967,234 |
|
|
|
557,132 |
|
|
|
139,120 |
|
|
|
19,824 |
|
|
|
1,780,871 |
|
|
|
1,116,917 |
|
|
|
159,159 |
|
| Net
cash used in financing activities |
|
|
(206,577 |
) |
|
|
- |
|
|
|
(74,780 |
) |
|
|
(10,656 |
) |
|
|
(401,311 |
) |
|
|
(547,665 |
) |
|
|
(78,042 |
) |
| Effect
of foreign exchange rate changes on cash, cash equivalents and restricted cash |
|
|
(5,918 |
) |
|
|
10,032 |
|
|
|
(45,818 |
) |
|
|
(6,529 |
) |
|
|
52,884 |
|
|
|
(32,883 |
) |
|
|
(4,685 |
) |
| Net
increase in cash and cash equivalents and restricted cash |
|
|
837,592 |
|
|
|
763,928 |
|
|
|
175,076 |
|
|
|
24,948 |
|
|
|
1,325,950 |
|
|
|
893,707 |
|
|
|
127,352 |
|
| Cash,
cash equivalents and restricted cash at the beginning of the period |
|
|
1,777,444 |
|
|
|
2,374,761 |
|
|
|
3,138,689 |
|
|
|
447,260 |
|
|
|
1,289,086 |
|
|
|
2,420,058 |
|
|
|
344,856 |
|
| Cash, cash
equivalents and restricted cash at the end of the period |
|
|
2,615,036 |
|
|
|
3,138,689 |
|
|
|
3,313,765 |
|
|
|
472,208 |
|
|
|
2,615,036 |
|
|
|
3,313,765 |
|
|
|
472,208 |
|
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 and prior nine months period.
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