SHENZHEN, China, March 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 fourth quarter and the fiscal year ended December 31, 2023.

Fourth Quarter 2023 Financial Highlights

  • Net revenues were RMB520.5 million (US$73.3 million) in the fourth quarter of 2023, compared with RMB340.0 million in the same period of 2022.
  • Gross margin was 23.7% in the fourth quarter of 2023, compared with 43.6% in the same period of 2022.
  • U.S. GAAP net income was RMB216.0 million (US$30.4 million) in the fourth quarter of 2023, compared with U.S. GAAP net loss of RMB225.1 million in the same period of 2022.
  • Non-GAAP net income[1] was RMB432.6 million (US$60.9 million) in the fourth quarter of 2023, compared with RMB249.7 million in the same period of 2022.

Fiscal Year 2023 Financial Highlights

  • Net revenues were RMB1,586.4 million (US$223.4 million) in fiscal year 2023, compared with RMB5,332.8 million in the prior year.
  • Gross margin was 24.4% in fiscal year 2023, compared with 43.2% in the prior year.
  • U.S. GAAP net income was RMB541.0 million (US$76.2 million) in fiscal year 2023, compared with RMB1,408.7 million in the prior year.
  • Non-GAAP net income was RMB903.9 million (US$127.3 million) in fiscal year 2023, compared with RMB1,574.9 million in the prior year.

"Despite external challenges, we achieved an impressive recovery throughout 2023 through strong strategic execution, setting the stage for new ventures," said Ms. Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors, and CEO of RLX Technology. "We embarked on our international expansion during the fourth quarter, focusing on markets and product categories with the highest growth potential. By acquiring and integrating resources across diverse markets, we can create powerful synergies and elevate operational efficiency, enhancing our global competitiveness. For our domestic business in China, we remain committed to optimizing our product portfolios while combatting illegal products that still weigh on legitimate players' sales, advocating for a responsible and well-regulated e-vapor industry. Looking ahead, we will continue to expand our business to more markets and develop innovative and premium products to meet our users' evolving needs."

Mr. Chao Lu, Chief Financial Officer of RLX Technology, commented, "2023 was a pivotal year of progress for RLX's domestic operations. We decisively refined our business structure to align with China's new regulatory environment, driving steady improvements in our financial performance while building a firm foundation for our sustainable future. In the fourth quarter of 2023, we achieved a non-GAAP operating profit of RMB76.1 million, marking a significant turnaround from the previous quarters' losses and reflecting our robust rebound and growth trajectory. Furthermore, we continued to return value to our shareholders through our share repurchase program and cash dividend, with approximately US$112 million in 2023. We also extended our share repurchase program for an additional 24-month period, demonstrating our confidence in the Company's long-term prospects. Going forward, our financial strength and solid balance sheet will empower us to pursue development opportunities that create value for our stakeholders."

Fourth Quarter 2023 Financial Results

Net revenues were RMB520.5 million (US$73.3 million) in the fourth quarter of 2023, compared with RMB340.0 million in the same period of 2022. The increase was primarily due to our international expansion in Southeast and North Asia.

Gross profit was RMB123.4 million (US$17.4 million) in the fourth quarter of 2023, compared with RMB148.3 million in the same period of 2022.

Gross margin was 23.7% in the fourth quarter of 2023, compared with 43.6% in the same period of 2022. The decrease was primarily due to the imposition of a 36% excise tax, which came into effect on November 1, 2022, and an unfavorable change in revenue mix.

Operating expenses were RMB263.9 million (US$37.2 million) in the fourth quarter of 2023, compared with RMB620.4 million in the same period of 2022. The decrease was primarily due to a decrease in share-based compensation expenses, which were RMB216.6 million (US$30.5 million) in the fourth quarter of 2023, compared with RMB474.9 million in the same period of 2022. The changes in share-based compensation expenses consisted of (i) RMB12.1 million (US$1.7 million) recognized in selling expenses, (ii) RMB194.2 million (US$27.3 million) recognized in general and administrative expenses, and (iii) RMB10.3 million (US$1.5 million) recognized in research and development expenses. 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 RMB38.0 million (US$5.4 million) in the fourth quarter of 2023, compared with RMB96.7 million in the same period of 2022, primarily due to a decrease in share-based compensation expenses, salaries and welfare benefits.

General and administrative expenses were RMB204.0 million (US$28.7 million) in the fourth quarter of 2023, compared with RMB394.2 million in the same period of 2022, mainly driven by a decrease in share-based compensation expenses, salaries and welfare benefits.

Research and development expenses were RMB21.9 million (US$3.1 million) in the fourth quarter of 2023, compared with RMB129.6 million in the same period of 2022, mainly driven by a decrease in share-based compensation expenses, salaries and welfare benefits.

Loss from operations was RMB140.5 million (US$19.8 million) in the fourth quarter of 2023, compared with RMB472.2 million in the same period of 2022.

Income tax expense was RMB15.1 million (US$2.1 million) in the fourth quarter of 2023, compared with income tax benefit of RMB16.2 million in the same period of 2022.

U.S. GAAP net income was RMB216.0 million (US$30.4 million) in the fourth quarter of 2023, compared with U.S. GAAP net loss of RMB225.1 million in the same period of 2022.

Non-GAAP net income was RMB432.6 million (US$60.9 million) in the fourth quarter of 2023, compared with RMB249.7 million in the same period of 2022.

U.S. GAAP basic and diluted net income per American depositary share ("ADS") were RMB0.166 (US$0.023) and RMB0.161 (US$0.023) in the fourth quarter of 2023, respectively, compared with U.S. GAAP basic and diluted net loss per ADS of RMB0.174 and RMB0.174, in the same period of 2022.

Non-GAAP basic and diluted net income per ADS[2] were RMB0.335 (US$0.047) and RMB0.325 (US$0.046), respectively, in the fourth quarter of 2023, compared with non-GAAP basic and diluted net income per ADS of RMB0.188 and RMB0.186, respectively, in the same period of 2022.

Balance Sheet and Cash Flow

As of December 31, 2023, 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 RMB15,138.4 million (US$2,132.2 million), compared with RMB15,186.7 million as of September 30, 2023. For the fourth quarter ended December 31, 2023, net cash generated from operating activities was RMB305.2 million (US$43.0 million).

Fiscal Year 2023 Financial Results

Net revenues were RMB1,586.4 million (US$223.4 million) in fiscal year 2023, compared with RMB5,332.8 million in the prior year. The decrease was primarily due to the discontinuation of older products.

Gross profit was RMB387.7 million (US$54.6 million) in fiscal year 2023, compared with RMB2,305.1 million in the prior year.

Gross margin decreased to 24.4% in fiscal year 2023 from 43.2% in the prior year, primarily due to the imposition of a 36% excise tax, which came into effect on November 1, 2022.

Operating expenses were RMB884.4 million (US$124.6 million) in fiscal year 2023, representing a decrease of 28.8% from RMB1,241.7 million in the prior year. The decrease in operating expenses was primarily due to the decrease in salaries and welfare benefits.

Selling expenses decreased by 38.5% to RMB213.7 million (US$30.1 million) in fiscal year 2023 from RMB347.8 million in the prior year, mainly driven by a decrease in salaries and welfare benefits.

General and administrative expenses decreased by 13.7% to RMB498.0 million (US$70.1 million) in fiscal year 2023 from RMB576.8 million in the prior year, primarily attributable to the decrease in salaries and welfare benefits and accrued liabilities to suppliers.

Research and development expenses decreased by 45.5% to RMB172.7 million (US$24.3 million) in fiscal year 2023 from RMB317.1 million in the prior year, mainly driven by a decrease in salaries and welfare benefits.

Loss from operations was RMB496.7 million (US$70.0 million) in fiscal year 2023, compared with an income from operations of RMB1,063.4 million in the prior year.

Income tax expense was RMB50.8 million (US$7.1 million) in fiscal year 2023, representing a decrease of 86.3% from RMB371.6 million in the prior year.

U.S. GAAP net income was RMB541.0 million (US$76.2 million) in fiscal year 2023, compared with RMB1,408.7 million in the prior year.

Non-GAAP net income was RMB903.9 million (US$127.3 million) in fiscal year 2023, compared with RMB1,574.9 million in the prior year.

U.S. GAAP basic and diluted net income per ADS were RMB0.407 (US$0.057) and RMB0.399 (US$0.056), respectively, in fiscal year 2023, compared with U.S. GAAP basic and diluted net income per ADS of RMB1.092 and RMB1.085, respectively, in the prior year.

Non-GAAP basic and diluted net income per ADS were RMB0.684 (US$0.096) and RMB0.669 (US$0.094), respectively, in fiscal year 2023, compared with non-GAAP basic and diluted net income per ADS of RMB1.218 and RMB1.210, respectively, in the prior year.

Share Repurchase Program and Dividend Payment

The Company repurchased approximately US$98.5 million of its ordinary shares represented by ADSs during the fiscal year of 2023 and US$195.5 million of its ordinary shares represented by ADSs cumulatively, as of December 31, 2023. In December 2023, the Company's board of directors authorized the extension of its existing share repurchase program established in December 2021 for an additional 24-month period through December 31, 2025.

In November 2023, 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 1, 2023 Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The cash dividend was paid in December 2023 to shareholders. The aggregate amount of the dividend is approximately US$13.0 million.

Conference Call

The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on March 15, 2024 (8:00 PM Beijing/Hong Kong Time on March 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:

1473355

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 March 22, 2024, by dialing the following telephone numbers:

United States:

+1-877-344-7529

International:

+1-412-317-0088

Replay Access Code:

9792377

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 RMB7.0999 to US$1.00, the exchange rate on December 29, 2023, 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 China's e-vapor market; changes in its revenues and certain cost or expense items; PRC governmental policies, laws and regulations 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,

December 31,

December 31,


2022

(As adjusted) (a)

2023

2023


RMB

RMB

US$

ASSETS




Current assets:




Cash and cash equivalents

1,268,512

2,390,298

336,666

Restricted cash

20,574

29,760

4,192

Short-term bank deposits, net

7,084,879

2,631,256

370,605

Receivables from online payment platforms

3,000

6,893

971

Short-term investments, net

2,434,864

3,093,133

435,659

Accounts and notes receivable, net

51,381

60,482

8,519

Inventories

130,901

144,850

20,402

Amounts due from related parties

5,112

118,736

16,724

Prepayments and other current assets, net

198,932

508,435

71,612

Total current assets

11,198,155

8,983,843

1,265,350

Non-current assets:




Property, equipment and leasehold improvement, net

87,871

77,358

10,896

Intangible assets, net

7,552

69,778

9,828

Long-term investments, net

8,000

8,000

1,127

Deferred tax assets, net

63,894

58,263

8,206

Right-of-use assets, net

75,008

52,562

7,403

Long-term bank deposits, net

1,515,428

1,757,804

247,582

Long-term investment securities, net

3,409,458

5,236,109

737,491

Goodwill

-

66,506

9,367

Other non-current assets, net

13,458

4,874

686

Total non-current assets

5,180,669

7,331,254

1,032,586

Total assets

16,378,824

16,315,097

2,297,936





LIABILITIES AND SHAREHOLDERS' EQUITY




Current liabilities:




Accounts and notes payable

269,346

266,426

37,525

Contract liabilities

75,226

49,586

6,984

Salary and welfare benefits payable

127,749

39,256

5,529

Taxes payable

109,676

77,164

10,868

Amounts due to related parties

423

101,927

14,356

Dividend payable

-

881

124

Accrued expenses and other current liabilities

161,455

103,996

14,648

Lease liabilities - current portion

45,955

29,435

4,146

Total current liabilities

789,830

668,671

94,180





Non-current liabilities:




Deferred tax liabilities

8,653

23,591

3,323

Lease liabilities - non-current portion

39,968

24,419

3,439

Total non-current liabilities

48,621

48,010

6,762

Total liabilities

838,451

716,681

100,942









Shareholders' Equity:




Total RLX Technology Inc. shareholders' equity

15,569,060

15,609,393

2,198,540

Noncontrolling interests

(28,687)

(10,977)

(1,546)

Total shareholders' equity

15,540,373

15,598,416

2,196,994





Total liabilities and shareholders' equity

16,378,824

16,315,097

2,297,936


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 consolidated balance sheets in prior year.

 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE (LOSS)/INCOME

(All amounts in thousands, except for share and per share data)











For the three months ended


For the year ended


December 31,

September 30,

December 31,

December 31,


December 31,

December 31,

December 31,


2022

As adjusted(b)

2023

As adjusted(b)

2023

2023


2022

As adjusted(b)

2023

2023


RMB

RMB

RMB

US$


RMB

RMB

US$










  Net revenues

340,012

498,929

520,468

73,306


5,332,779

1,586,397

223,439

  Cost of revenues

(139,073)

(278,578)

(327,325)

(46,103)


(2,974,981)

(856,329)

(120,611)

  Excise tax on products

(52,668)

(100,313)

(69,730)

(9,821)


(52,668)

(342,354)

(48,220)

  Gross profit

148,271

120,038

123,413

17,382


2,305,130

387,714

54,608










  Operating expenses:









  Selling expenses

(96,673)

(44,751)

(37,985)

(5,350)


(347,798)

(213,723)

(30,102)

  General and administrative expenses

(394,207)

(78,849)

(204,030)

(28,737)


(576,811)

(498,015)

(70,144)

  Research and development expenses

(129,558)

(30,783)

(21,904)

(3,085)


(317,110)

(172,686)

(24,322)

  Total operating expenses

(620,438)

(154,383)

(263,919)

(37,172)


(1,241,719)

(884,424)

(124,568)










  (Loss)/income from operations

(472,167)

(34,345)

(140,506)

(19,790)


1,063,411

(496,710)

(69,960)










  Other income









  Interest income, net

54,617

158,260

157,928

22,244


180,729

627,879

88,435

  Investment income  

25,557

21,028

182,699

25,733


136,531

245,700

34,606

  Others, net

150,625

33,412

30,925

4,356


399,641

214,874

30,264

  (Loss)/income before income tax

(241,368)

178,355

231,046

32,543


1,780,312

591,743

83,345

  Income tax benefit/(expense)  

16,243

(1,746)

(15,078)

(2,124)


(371,580)

(50,755)

(7,149)

  Net (loss)/income

(225,125)

176,609

215,968

30,419


1,408,732

540,988

76,196

  Less: net income/(loss) attributable to noncontrolling
interests

3,355

1,579

2,491

351


(32,487)

6,660

938

  Net (loss)/income attributable to RLX Technology Inc.

(228,480)

175,030

213,477

30,068


1,441,219

534,328

75,258

  Other comprehensive (loss)/income:









  Foreign currency translation adjustments

(215,246)

(83,978)

(132,470)

(18,658)


937,428

198,534

27,963

  Unrealized (loss)/income on long-term investment securities

(5,425)

3,508

(11,288)

(1,590)


(5,425)

632

89

  Total other comprehensive (loss)/income

(220,671)

(80,470)

(143,758)

(20,248)


932,003

199,166

28,052

  Total comprehensive (loss)/income

(445,796)

96,139

72,210

10,171


2,340,735

740,154

104,248

  Less: total comprehensive income/(loss) attributable to
noncontrolling interests

3,355

1,579

2,491

351


(32,487)

6,660

938

  Total comprehensive (loss)/income attributable to RLX
Technology Inc.

(449,151)

94,560

69,719

9,820


2,373,222

733,494

103,310










  Net (loss)/income per ordinary share/ADS 









   Basic

(0.174)

0.133

0.166

0.023


1.092

0.407

0.057

   Diluted

(0.174)

0.130

0.161

0.023


1.085

0.399

0.056










  Weighted average number of ordinary shares/ADSs









  Basic

1,310,229,331

1,316,452,743

1,285,752,182

1,285,752,182


1,319,732,802

1,311,401,901

1,311,401,901

  Diluted

1,310,229,331

1,344,359,144

1,324,466,240

1,324,466,240


1,328,144,092

1,340,445,653

1,340,445,653


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

comparative consolidated statements of comprehensive (loss)/income in prior quarters/year.

 

 

 

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 year ended


December 31,

September 30,

December 31,

December 31,


December 31,

December 31,

December 31,


2022

As adjusted(c)

2023

As adjusted(c)

2023

2023


2022

As adjusted(c)

2023

2023


RMB

RMB

RMB

US$


RMB

RMB

US$

Net (loss)/income

(225,125)

176,609

215,968

30,419


1,408,732

540,988

76,196

Add: share-based compensation expenses









       Selling expenses

41,239

(4,045)

12,128

1,708


(6,993)

16,700

2,352

       General and administrative expenses

369,447

29,771

194,153

27,346


162,229

334,344

47,091

       Research and development expenses

64,165

(936)

10,335

1,456


10,925

11,824

1,665

Non-GAAP net income

249,726

201,399

432,584

60,929


1,574,893

903,856

127,304










Net (loss)/income attributable to RLX
   Technology Inc.

(228,480)

175,030

213,477

30,068


1,441,219

534,328

75,258

Add: share-based compensation expenses

474,851

24,790

216,616

30,510


166,161

362,868

51,108

Non-GAAP net income attributable to RLX
   Technology Inc.

246,371

199,820

430,093

60,578


1,607,380

897,196

126,366










Non-GAAP net income per ordinary share/ADS









- Basic

0.188

0.152

0.335

0.047


1.218

0.684

0.096

- Diluted

0.186

0.149

0.325

0.046


1.210

0.669

0.094

Weighted average number of ordinary
shares/ADSs









- Basic

1,310,229,331

1,316,452,743

1,285,752,182

1,285,752,182


1,319,732,802

1,311,401,901

1,311,401,901

- Diluted

1,324,475,455

1,344,359,144

1,324,466,240

1,324,466,240


1,328,144,092

1,340,445,653

1,340,445,653


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 unaudited reconciliation of GAAP and Non-GAAP results in prior quarters/year.

 

 

 

RLX TECHNOLOGY INC.


UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


(All amounts in thousands)













For the three months ended


For the year ended



December 31,

September 30,

December 31,

December 31,


December 31,

December 31,

December 31,



2022

As adjusted(d)

2023

As adjusted(d)

2023

2023


2022

As adjusted(d)

2023

2023



RMB

RMB

RMB

US$


RMB

RMB

US$


Net cash (used in)/generated from operating activities

(248,866)

82,853

305,197

42,986


486,829

198,703

27,987


Net cash generated from/(used in) investing activities

752,545

967,234

310,274

43,701


(4,133,040)

2,091,145

294,532


Net cash used in financing activities

(150,647)

(206,577)

(791,905)

(111,537)


(477,270)

(1,193,216)

(168,061)


Effect of foreign exchange rate changes on cash, cash
   equivalents and restricted cash

29,287

(5,918)

(18,544)

(2,612)


203,100

34,340

4,836


Net increase/(decrease) in cash and cash equivalents
   and restricted cash

382,319

837,592

(194,978)

(27,462)


(3,920,381)

1,130,972

159,294


Cash, cash equivalents and restricted cash at the
   beginning of the period

906,767

1,777,444

2,615,036

368,320


5,209,467

1,289,086

181,564


Cash, cash equivalents and restricted cash at the
   end of the period

1,289,086

2,615,036

2,420,058

340,858


1,289,086

2,420,058

340,858























Note (d): 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 consolidated statements of cash flows in prior quarters/year.


 

 

Cision View original content:https://www.prnewswire.com/news-releases/rlx-technology-announces-unaudited-fourth-quarter-and-fiscal-year-2023-financial-results-302090186.html

SOURCE RLX Technology Inc.

Copyright 2024 PR Newswire

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