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RLX Technology (RLX.US) reported a 51.59% YoY growth in net revenue in Q3, its second dividend since listing

Market IntelFriday, Nov 15, 2024 6:50 am ET

1min read

RLX Technology (RLX.US) announced its 2024 third-quarter results. The data showed that the Company's Q3 net revenue was Rmb756.3 million, up 51.59% year-on-year from Rmb498.9 million; net profit was Rmb169.4 million, compared with Rmb177.6 million in the same period last year; basic and diluted EPS were Rmb0.135 and Rmb0.129, compared with Rmb0.133 and Rmb0.130 in the same period last year.

Non-GAAP net profit was Rmb261.9 million, compared with Rmb201.4 million in the same period last year, and basic and diluted EPS were Rmb0.211 and Rmb0.200.

Gross profit was Rmb206 million, compared with Rmb120 million in the same period last year, and gross margin was 27.2%, compared with 24.1% in the same period last year.

Operating loss was Rmb10.7 million, compared with Rmb34.3 million in the same period last year.

As of September 30, 2024, the Company had cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments, long-term bank deposits and long-term investment securities totaling Rmb15.3617 billion.

In addition, RLX Technology announced its second cash dividend since its listing. The Company said its board approved a cash dividend of US$0.01 per common share or US$0.01 per ADS to be paid in US dollars to holders of common shares and ADSs, respectively, as of the close of business on December 6, 2024, Beijing/Hong Kong time and New York time.

After the announcement of the results, as of the time of writing, RLX Technology rose 3.68% before the market opened.

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