RLX Technology Files 2025 Annual Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 23 2026
0mins
Should l Buy RLX?
Source: PRnewswire
- Annual Report Filing: RLX Technology filed its annual report on Form 20-F for the fiscal year ending December 31, 2025, with the SEC on April 23, 2026, reflecting the company's ongoing commitment to compliance and transparency, which is crucial for maintaining investor trust.
- Financial Information Access: The company will provide its audited consolidated financial statements free of charge to shareholders and ADS holders upon request, enhancing shareholder engagement and potentially boosting investor confidence in the company's financial health.
- Market Positioning: As a leading global branded e-vapor company, RLX Technology leverages its strong in-house technology and product development capabilities to meet adult smokers' needs, thereby maintaining a competitive edge in a rapidly evolving market.
- Forward-Looking Statements: The announcement includes forward-looking statements that highlight the company's expectations for future growth, acknowledging the risks posed by market competition and regulatory changes while reaffirming its commitment to achieving strategic objectives.
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Analyst Views on RLX
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 Files 2025 Annual Report
- Annual Report Filing: RLX Technology filed its annual report on Form 20-F for the fiscal year ending December 31, 2025, with the SEC on April 23, 2026, reflecting the company's ongoing commitment to compliance and transparency, which is crucial for maintaining investor trust.
- Financial Information Access: The company will provide its audited consolidated financial statements free of charge to shareholders and ADS holders upon request, enhancing shareholder engagement and potentially boosting investor confidence in the company's financial health.
- Market Positioning: As a leading global branded e-vapor company, RLX Technology leverages its strong in-house technology and product development capabilities to meet adult smokers' needs, thereby maintaining a competitive edge in a rapidly evolving market.
- Forward-Looking Statements: The announcement includes forward-looking statements that highlight the company's expectations for future growth, acknowledging the risks posed by market competition and regulatory changes while reaffirming its commitment to achieving strategic objectives.
See More
RLX Technology Reports Strong Q4 Earnings Driven by International Expansion
- 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.
See More
RLX Technology Reports 44% Revenue Growth in 2025 Financial Results
- 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.
See More
RLX Technology Reports 44% Revenue Growth in 2025 Financial Results
- 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.
See More
RLX Technology Reports Q4 Adjusted Net Income of RMB 323 Million
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.
See More
RLX Technology to Announce Q4 Earnings on March 13
- Earnings Announcement Schedule: RLX Technology is set to release its Q4 2023 earnings report on March 13 before market open, with a consensus EPS estimate of $0.03, reflecting a significant 50% year-over-year increase in profitability.
- Revenue Expectations: Analysts forecast that RLX Technology will achieve $154.49 million in revenue for Q4, indicating a stable growth trajectory that reinforces the company's position in the industry.
- Historical Performance Review: Over the past two years, RLX has beaten EPS and revenue estimates 63% of the time, demonstrating consistency in financial performance and bolstering market confidence.
- Share Repurchase Program: RLX Technology has extended its $500 million share repurchase program through 2027, aiming to enhance shareholder value and market appeal by reducing the number of outstanding shares, thereby increasing EPS.
See More
RLX Technology Files 2025 Annual Report
- Annual Report Filing: RLX Technology filed its annual report on Form 20-F for the fiscal year ending December 31, 2025, with the SEC on April 23, 2026, reflecting the company's ongoing commitment to compliance and transparency, which is crucial for maintaining investor trust.
- Financial Information Access: The company will provide its audited consolidated financial statements free of charge to shareholders and ADS holders upon request, enhancing shareholder engagement and potentially boosting investor confidence in the company's financial health.
- Market Positioning: As a leading global branded e-vapor company, RLX Technology leverages its strong in-house technology and product development capabilities to meet adult smokers' needs, thereby maintaining a competitive edge in a rapidly evolving market.
- Forward-Looking Statements: The announcement includes forward-looking statements that highlight the company's expectations for future growth, acknowledging the risks posed by market competition and regulatory changes while reaffirming its commitment to achieving strategic objectives.
See More
RLX Technology Reports Strong Q4 Earnings Driven by International Expansion
- 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.
See More
RLX Technology Reports 44% Revenue Growth in 2025 Financial Results
- 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.
See More
RLX Technology Reports 44% Revenue Growth in 2025 Financial Results
- 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.
See More
RLX Technology Reports Q4 Adjusted Net Income of RMB 323 Million
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.
See More
RLX Technology to Announce Q4 Earnings on March 13
- Earnings Announcement Schedule: RLX Technology is set to release its Q4 2023 earnings report on March 13 before market open, with a consensus EPS estimate of $0.03, reflecting a significant 50% year-over-year increase in profitability.
- Revenue Expectations: Analysts forecast that RLX Technology will achieve $154.49 million in revenue for Q4, indicating a stable growth trajectory that reinforces the company's position in the industry.
- Historical Performance Review: Over the past two years, RLX has beaten EPS and revenue estimates 63% of the time, demonstrating consistency in financial performance and bolstering market confidence.
- Share Repurchase Program: RLX Technology has extended its $500 million share repurchase program through 2027, aiming to enhance shareholder value and market appeal by reducing the number of outstanding shares, thereby increasing EPS.
See More
