RLX Technology Reports Q4 Adjusted Net Income of RMB 323 Million

Written by Emily J. Thompson, Senior Investment Analyst

Source: moomoo

Updated: Mar 13 2026

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Source: moomoo

Technology Sector Update: The technology sector is experiencing significant changes, impacting various companies and their financial performance.
Q4 Financial Adjustments: Companies are adjusting their net income projections for the fourth quarter, reflecting shifts in market conditions and operational challenges.
Rising Earnings Reports: Some firms are reporting increased earnings, indicating resilience and adaptability in a competitive landscape.
Market Trends: Ongoing trends in technology are influencing investment strategies and consumer behavior, shaping the future of the industry.

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About RLX

RLX Technology Inc is a holding company primarily engaged in the scientific research, technology and product development, supply chain management and distribution of e-vapor products. The products primarily include rechargeable closed-system e-vapor products, open-system products and closed-system disposable products. The products’ brands primarily include Qingyu, Phantom, Phantom Pro, Zeus, Leili, Daqian, Feiliu and Feiliu Mega. The rechargeable e-vapor products consist of a replaceable, snap-in cartridge containing the e-liquid and atomizer, and a device containing the battery and charging portal. The Company is also engaged in the assessment and research of e-liquid and aerosol through RELX Physiochemistry Lab, as well as the evaluation of sensory appeal of e-liquid through the RELX Sensory Analysis Lab. The Company distributes its products within the domestic market and to overseas markets.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

RLX Technology Reports Strong Q4 Earnings Driven by International Expansion

Mar 13 2026seekingalpha

Significant Earnings Growth: RLX Technology reported a Q4 non-GAAP EPS of $0.30 and revenue of $163.2 million, reflecting a 40.3% year-over-year increase, driven by strong international performance and contributions from its newly acquired entity.
Dominance of International Business: International revenues accounted for 76.5% of total net revenues, indicating the company's successful overseas expansion, which enhances revenue diversity and stability, thereby strengthening its competitive position.
Share Repurchase Program Extended: The company announced the extension of its $500 million share repurchase program through 2027, aimed at boosting EPS by reducing the share count, enhancing investor confidence, and supporting stock performance.
Strategic Expansion Outlook: RLX Technology's international expansion strategy not only drives short-term earnings growth but also lays the groundwork for future margin improvements, with expectations to further solidify its position in the global market.

RLX Technology Reports 44% Revenue Growth in 2025 Financial Results

Mar 13 2026PRnewswire

Significant Revenue Growth: In 2025, RLX Technology reported net revenues of RMB 3.9589 billion (approximately $566.1 million), marking a 44% year-over-year increase primarily driven by international expansion and contributions from newly acquired entities, showcasing the company's robust growth potential in global markets.
Improved Gross Margin: The gross profit for Q4 2025 reached RMB 358 million (approximately $51.2 million), up 62.8% year-over-year, with gross margin increasing from 27% to 31.4%, reflecting the company's success in optimizing its revenue mix and supply chain.
Enhanced Operational Efficiency: The non-GAAP income from operations for Q4 2025 was RMB 158.1 million (approximately $22.6 million), a 37.9% increase year-over-year, indicating significant progress in improving operational efficiency and profitability.
Increased Shareholder Returns: As of December 31, 2025, RLX Technology had repurchased 170 million ordinary shares for a total of $330 million, demonstrating the company's ongoing commitment to shareholder value and prudent capital management.

RLX Technology Reports 44% Revenue Growth in 2025 Financial Results

Mar 13 2026Newsfilter

Significant Revenue Growth: In Q4 2025, RLX Technology reported net revenues of RMB 1.141 billion (approximately USD 163.2 million), a 40.3% increase year-over-year, primarily driven by international expansion and contributions from newly acquired entities, showcasing the company's robust performance in global markets.
Gross Margin Improvement: The gross margin for Q4 2025 was 31.4%, up from 27.0% in the same period of 2024, reflecting favorable changes in revenue mix and further supply chain optimization, which enhanced the company's profitability.
Non-GAAP Operating Income Growth: The non-GAAP operating income for Q4 2025 was RMB 158.1 million (approximately USD 22.6 million), representing a 37.9% year-over-year increase, indicating significant progress in optimizing the revenue mix and driving operational leverage.
Shareholder Return Strategy: As of December 31, 2025, RLX Technology had cumulatively repurchased 170 million ordinary shares for a total of USD 330 million, demonstrating the company's commitment to maximizing shareholder value and laying the groundwork for sustainable future growth.