RLX Technology Inc. financials

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RLX Technology Inc. reports to SEC EDGAR in CNY (it files a 20-F/40-F as a foreign private issuer), so every monetary figure below is in CNY as filed, not US dollars.
RLX CIK 0001828365

Source: EDGAR filings · Built 2026-06-19T03:04:00Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 986.82M 844.26M 170.48M 448.19M 1.67B 2.58B
EBITDA 388.86M -66.90M -450.20M 1.14B 2.34B 36.22M
Working Capital 9.24B 8.44B 8.32B 10.41B 11.21B 1.37B
Net Debt 2.35B 1.95B 6.15B 4.88B -619.76M -95.47M
Gross Margin 29.90% 26.43% 24.44% 43.23% 43.09% 39.99%
Operating Margin 8.30% -3.90% -31.31% 19.94% 26.98% 0.34%
Net Margin 23.29% 20.08% 33.68% 27.03% 23.76% -3.35%
Return on Equity (ROE) 5.90% 3.45% 3.42% 9.26% 14.98% -8.49%
Return on Assets (ROA) 5.14% 3.27% 3.28% 8.80% 12.37% -3.16%
Current Ratio 5.70× 10.84× 13.44× 14.18× 5.10× 1.55×
Debt-to-Equity 0.49× 0.47× 0.55× 0.39× 0.34× 0.68×
Effective Tax Rate 11.30% 14.34% 8.58% 20.87% 23.74% 225.06%
Cash Conversion Ratio 1.20× 1.55× 0.37× 0.34× 0.89× -20.21×
Accruals Ratio -0.01× -0.02× 0.02× 0.06× 0.01× -0.67×
SBC % of Revenue 4.70% 13.45% 22.87% 3.12% 2.62% 24.32%
CapEx Coverage 9.38× 84.71× 7.04× 12.60× 13.75× 205.75×
Free Cash Flow Per Share ¥0.81 ¥0.66 ¥0.13 ¥0.34 ¥1.18 ¥1.79

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 566.11M 376.55M 223.44M 773.18M 1.34B 585.40M
Cost of Revenue 348.01M 235.37M 120.61M 431.33M 760.90M 351.29M
Gross Profit 169.25M 99.53M 54.61M 334.21M 576.23M 234.11M
Research and Development Expense 18.73M 12.10M 24.32M 45.98M 28.23M 45.87M
Operating Expenses 122.27M 114.21M 124.57M 180.03M 215.51M 232.09M
Operating Income (Loss) 46.98M -14.68M -69.96M 154.18M 360.72M 2.02M
Income Tax Expense (Benefit) 17.02M 12.94M 7.15M 53.87M 99.08M 35.33M
Net Income (Loss) Attributable to Parent 131.83M 75.60M 75.26M 208.96M 317.72M -19.63M
Earnings Per Share, Basic $0.10 $0.06 $0.06 $0.16 $0.23 $-0.01
Weighted Average Number of Shares Outstanding, Basic 1.22B 1.23B 1.31B 1.32B 1.40B 1.44B
Earnings Per Share, Diluted $0.10 $0.06 $0.06 $0.16 $0.23 $-0.01
Weighted Average Number of Shares Outstanding, Diluted 1.22B 1.29B 1.34B 1.33B 1.41B 1.44B

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 767.49M 766.30M 336.67M 183.92M 817.40M 170.73M
Assets, Current 1.60B 1.27B 1.27B 1.62B 2.19B 592.63M
Assets 2.56B 2.31B 2.30B 2.37B 2.57B 622.20M
Liabilities, Current 281.00M 117.53M 94.18M 114.52M 429.59M 382.62M
Liabilities 314.31M 120.71M 100.94M 121.57M 446.66M 391.00M
Stockholders' Equity Attributable to Parent 2.24B 2.19B 2.20B 2.26B 2.12B 231.21M
Common Stock, Shares, Outstanding — — — 1.53B 1.57B 1.44B

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 157.95M 117.05M 27.99M 70.58M 282.44M 396.84M
Payments to Acquire Property, Plant, and Equipment 16.84M 1.38M 3.98M 5.60M 20.55M 1.93M
Net Cash Provided by (Used in) Investing Activities -117.57M 413.46M 294.53M -599.23M -1.24B -277.84M
Payments for Repurchase of Common Stock 26.30M 80.74M 140.37M 72.55M 20.01M —
Payments of Dividends 13.08M 12.17M 13.01M — — —
Net Cash Provided by (Used in) Financing Activities -40.43M -92.89M -168.06M -69.20M 1.55B 26.80M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

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Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (RLX CIK 0001828365), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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