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RLX Technology Inc. logo

RLX Technology Inc.

RLX

NYSEConsumer DefensiveTobacco

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Regular session

$1.815

+$0.01 · +0.55%

Aug 24, 12:31 PM ET

RLX company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

89

Deep Value

Momentum

29

Weakening

Sentiment

64

Bullish

Risk resilience

54

Elevated Risk

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Company profile

Industry
Tobacco
Sector
Consumer Defensive
Headquarters
CN

Market position

Day range

Current $1.815

52-week range

Current $1.815

Open
$1.805
Previous close
$1.805
Volume
1.38M
Market cap
2.22B USD
50-day average
$1.951
-6.97% below average
200-day average
$2.1856
-16.96% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
14.56B CNY
P/E (TTM)
15.22×
P/B (TTM)
0.96×
P/S (TTM)
3.33×
EV / EBITDA
13.05×
Earnings yield
4.50%
Free cash flow yield
4.94%
Dividend yield
6.06%

Profitability & efficiency

Gross margin
34.71%
Operating margin
13.04%
Net margin
21.86%
Return on equity
5.73%
Return on assets
5.00%
Return on invested capital
1.76%

Financial health

Debt / equity
0.02×
Current ratio
5.7×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends52%18%-15%-48%Gross margin, FY2021: 43.09%Gross margin, FY2022: 43.23%Gross margin, FY2023: 31.17%Gross margin, FY2024: 29.72%Gross margin, FY2025: 32.72%Operating margin, FY2021: 26.98%Operating margin, FY2022: 19.94%Operating margin, FY2023: -39.93%Operating margin, FY2024: -4.38%Operating margin, FY2025: 9.08%Net margin, FY2021: 23.76%Net margin, FY2022: 27.03%Net margin, FY2023: 42.95%Net margin, FY2024: 22.57%Net margin, FY2025: 25.49%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 43.09%. Gross margin FY2022 43.23%. Gross margin FY2023 31.17%. Gross margin FY2024 29.72%. Gross margin FY2025 32.72%. Operating margin FY2021 26.98%. Operating margin FY2022 19.94%. Operating margin FY2023 -39.93%. Operating margin FY2024 -4.38%. Operating margin FY2025 9.08%. Net margin FY2021 23.76%. Net margin FY2022 27.03%. Net margin FY2023 42.95%. Net margin FY2024 22.57%. Net margin FY2025 25.49%.

Income trends

Revenue

3.52B CNY+43.94%

Operating income

319.61M CNY+426.75M CNY

Net income

896.75M CNY+62.50%
Income trends across reported periods9.42B CNY5.82B CNY2.21B CNY−1.4B CNYRevenue, FY2021: 8.52B CNYRevenue, FY2022: 5.33B CNYRevenue, FY2023: 1.24B CNYRevenue, FY2024: 2.44B CNYRevenue, FY2025: 3.52B CNYOperating income, FY2021: 2.3B CNYOperating income, FY2022: 1.06B CNYOperating income, FY2023: −496.71M CNYOperating income, FY2024: −107.15M CNYOperating income, FY2025: 319.61M CNYNet income, FY2021: 2.02B CNYNet income, FY2022: 1.44B CNYNet income, FY2023: 534.33M CNYNet income, FY2024: 551.84M CNYNet income, FY2025: 896.75M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 8.52B CNY. Revenue FY2022 5.33B CNY. Revenue FY2023 1.24B CNY. Revenue FY2024 2.44B CNY. Revenue FY2025 3.52B CNY. Operating income FY2021 2.3B CNY. Operating income FY2022 1.06B CNY. Operating income FY2023 −496.71M CNY. Operating income FY2024 −107.15M CNY. Operating income FY2025 319.61M CNY. Net income FY2021 2.02B CNY. Net income FY2022 1.44B CNY. Net income FY2023 534.33M CNY. Net income FY2024 551.84M CNY. Net income FY2025 896.75M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue3.52B CNY2.44B CNY1.24B CNY5.33B CNY8.52B CNY
Cost of goods sold2.37B CNY1.72B CNY856.33M CNY3.03B CNY4.85B CNY
Gross profit1.15B CNY726.52M CNY387.71M CNY2.31B CNY3.67B CNY
Research and development127.44M CNY88.31M CNY172.69M CNY317.11M CNY179.91M CNY
Selling, general, and administrative704.32M CNY745.35M CNY711.74M CNY924.61M CNY1.19B CNY
Operating expenses831.75M CNY833.66M CNY884.42M CNY1.24B CNY1.37B CNY
Interest income595.36M CNY616.39M CNY627.88M CNY180.73M CNY72.41M CNY
Depreciation and amortization91.52M CNY46.51M CNY96.6M CNY81.41M CNY45.64M CNY
Operating income319.61M CNY−107.15M CNY−496.71M CNY1.06B CNY2.3B CNY
Net income896.75M CNY551.84M CNY534.33M CNY1.44B CNY2.02B CNY

Company facts updated Aug 24, 2026.

RLX peers

The Coca-Cola Company logo

KO

The Coca-Cola Company

$91.755

+0.72%

The Procter & Gamble Company logo

PG

The Procter & Gamble Company

$145.79

+0.77%

Philip Morris International Inc. logo

PM

Philip Morris International Inc.

$192.69

+2.37%

Anheuser-Busch InBev SA/NV logo

BUD

Anheuser-Busch InBev SA/NV

$79.735

+1.03%

Unilever PLC logo

UL

Unilever PLC

$65.105

+1.50%

British American Tobacco p.l.c. logo

BTI

British American Tobacco p.l.c.

$56.90

+1.23%

ETFs holding RLX

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
19.38M
Weight
0.00%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.2399-0.54%
Vanguard FTSE Emerging Markets ETF logoVanguard FTSE Emerging Markets ETFVWO
Market value
19.26M
Weight
0.01%
AUM
162.3B USD
Expense ratio
0.06%
Price / 1D
$59.98-0.78%
iShares Core MSCI Emerging Markets ETF logoiShares Core MSCI Emerging Markets ETFIEMG
Market value
7.42M
Weight
0.00%
AUM
160B USD
Expense ratio
0.09%
Price / 1D
$80.60-1.19%
Vanguard FTSE All-World ex-US ETF logoVanguard FTSE All-World ex-US ETFVEU
Market value
3.07M
Weight
0.00%
AUM
95.9B USD
Expense ratio
0.04%
Price / 1D
$85.225-0.54%
State Street SPDR Portfolio Emerging Markets ETF logoState Street SPDR Portfolio Emerging Markets ETFSPEM
Market value
2.23M
Weight
0.01%
AUM
17.57B USD
Expense ratio
0.07%
Price / 1D
$52.005-0.72%
Schwab Emerging Markets Equity ETF logoSchwab Emerging Markets Equity ETFSCHE
Market value
1.55M
Weight
0.01%
AUM
12.89B USD
Expense ratio
0.06%
Price / 1D
$36.675-0.80%
iShares Core MSCI Total International Stock ETF logoiShares Core MSCI Total International Stock ETFIXUS
Market value
1.42M
Weight
0.00%
AUM
60.91B USD
Expense ratio
0.07%
Price / 1D
$97.415-0.54%
Vanguard Total World Stock ETF logoVanguard Total World Stock ETFVT
Market value
1.12M
Weight
0.00%
AUM
97.9B USD
Expense ratio
0.06%
Price / 1D
$160.24-0.33%

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